Marine credit insurance specialist broker Seacurus Ltd has launched a new product tailored to the marine fuel sector.
The product, BunkerSEACURE, is designed to provide balance sheet protection against the risk of non-payment following the supply of marine fuels to customers on agreed credit terms, the company said.
Seacurus managing director Capt. Thomas Brown said: "BunkerSEACURE is designed to provide true balance sheet protection, by effectively substituting an unknown and unbudgeted level of bad debt with a pre-determined and budgeted premium cost, thereby minimising the impact of bad debts on a company's bottom line.
"In an industry where margins are 'thin', delinquent debts can have a major impact on a company's profitability and cash flow."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
