Coface has modernised its flagship policy on credit insurance targeting mid-market companies and rebranded it TradeLiner.

The updated product aims to protect companies’ business activities in the event of buyers’ insolvency or late payment: prevention of non-payment, collection of unpaid invoices and indemnification, if collection fails or takes longer than expected to complete.

Key aspects of the product, explains a Coface statement, include a simplified and easier-to-understand credit insurance cover; premiums billed on the basis of actual turnover and the minimum annual premium automatically adjusted on an annual basis, reducing budgetary uncertainty; shortened indemnification from five, to four, three or two months if a company encounters cashflow problems as a result of unpaid debts.

Companies will be able to adapt the product to their needs choosing between cover options for different kinds of risks including political, natural disaster, pre-shipment, disputed debt, advances paid to suppliers or on consignment sales.

“Following EasyLiner, which launched in 2014 and targets the SME sector, TradeLiner offers midcaps a solution to meet their requirements and expectations in terms of flexibility, an extensive range of options and the reactivity necessary in today’s business environment,” explains Patrice Luscan, Coface’s marketing and strategy director.

Tradeliner will be offered in 98 countries.