Equinox Global has launched a new product that offers all the advantages of a traditional whole-turnover credit insurance policy with credit limit service, but with non-cancellable limits for up to 12 months.

Equinox Complete, as the product is known, was developed in response to customer demand for increased certainty, transparency and a policy structure with no deductible. Unlike what’s traditionally offered in the trade credit insurance market, it offers the certainty of cover, but with a whole-turnover structure that people in the market are familiar with.

The product is targeted at medium to large companies and restricted to OECD markets. “But it doesn’t mean we cannot write a non-OECD market as a matter of exception,” says Alexandra Paton, chief market officer at Equinox Global. She explains that if the insurer is looking at a weaker risk or country, it can write the deal on its trigger policy.

“Not all companies will qualify for this product, but there are companies that have very good credit management and have a good loss record [none or very little] who would qualify for non-cancellable credit limits,” she tells GTR.

The product itself is simple to operate with no specific IT requirements and no need for special credit procedures documentation.

According to Paton, the insurer is also working on a credit limit portal, which will be launched at the beginning of next year. “This product will be complemented very well by this portal: where people can apply for credit limit online and get automatic decisions,” she says.

Mike Holley, CEO of Equinox Global, comments on the launch: “Equinox has developed this new product to meet the needs of our clients as they face an uncertain economic environment. The Equinox Complete product, with its non-cancellable limits, delivers improved certainty of cover, allowing clients to take up the best business opportunities available with the certainty that should the worst happen they have effective cover in place.”