Simplicity will insure invoices for goods and/or services supplied between the start and end date of your policy to:

  • Customers located in Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, South Korea, Malaysia, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, Taiwan, United Kingdom, USA, Thailand, China
  • Invoices issued within 30 days of supply
  • Customers on credit terms of no longer than 90 days after date of invoice or 60 days after end of month invoice
  • We will reimburse you for 60% of the outstanding debt (up to the value of your standard Buyer Maximum Liability)

You can increase the cover by applying for a grade to assess the creditworthiness of your customer. If the grade of your customer is between 1 and 6, we will cover to 90% of any unpaid debts and increase the maximum claim stated in the “enhanced coverage” specified in your Special Terms document. Any increase in cover will only apply to supplies made after the applicable grade has been issued by us. However you should note that if you request a grade and we grade your customer 8, 9 or 10 then you will not be covered for further supplies to this customer unless the grading improves to a grade 7 or better.

It is important to correctly identify the company which is contractually obliged to pay you under the terms of your contract. You can do this online using the EOLIS platform.

When applying for a grade, please include as much information about your customer as possible, including their full registered name, company registration number or equivalent. This will help us provide a prompt service. We will then confirm the grade by e-mail within a matter of hours. Once you receive the grade notification, please check the details to ensure that your customer’s details are correct.

N. B. Where your customer is a sole trader, it is necessary to specify the proprietor’s name, not just the trading name.

We constantly monitor the companies on our database. If we receive positive or negative information about your customers that results us to change our grading, we will communicate by email to inform  the change in grading. The new grade is reflected in the EOLIS platform. If the new grade results in a reduction or withdrawal in the cover provided on your customer, this will take effect on deliveries made 30 days following the initial notification of the change.

No. As long as you have supplied the goods and services and have complied with the terms of the policy, you will be covered for 60% of any unpaid debts up to the maximum claim per customer (as long as you are within the annual maximum liability of the policy).

However, our unrivalled database of over 40 million companies worldwide is at your disposal and we would always recommend that you take advantage of our knowledge to establish the credit-worthiness of your customers.

Trading with care at all times when dealing with your Insured Buyers, you must take all practicable measures to prevent any loss arising to you and us. If any loss arises, you must use all reasonable efforts to mitigate it and maximise Salvage before and after we make any claim payment.

If you are not paid by the due date for payment, then:

  • you have to inform us by submitting a Simplicity Claim Form within 90 days of the due date;
  • you will not be covered for any further goods which you dispatch or services which you provide to this customer once a debt has remained overdue for 60 days .

If your customer becomes insolvent (whether or not the debt is overdue), then:

  • you must inform us by submitting a Simplicity Claim Form within 30 days of your customer becoming insolvent.
  • you will not be covered for any further goods which you dispatch or services which you provide to this customer .
Discuss how Credit Insurance
can help your business with us.
Get answers to common questions
about Credit Insurance.