We want to secure a new customer but they are concerned with

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Posted: Tue Aug 04, 2009 8:40 pm Post subject: We want to secure a new customer but they are concerned with

We're an manufacturing company that supplies home improvement products to the remodeling market. Because of the economy many suppliers have had financial problems. We are trying to land new buisness but a large prospective customer is concerned with our future viability. If we could write an insurance policy payable to the prospective customer if we should go out of business. Is something like this possible?

jrudberg

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Joined: 04 Aug 2009
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Posted: Wed Aug 05, 2009 12:31 am Post subject:

What are they worried about... that they will order product and you won't deliver it? This is the reason why you need to speak to an agent. So the agent can completely understand what the risk is and determine if their is a policy for that and the best coverage for the risk.

tcope

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Posted: Wed Aug 05, 2009 9:19 am Post subject:

Hey..

Quote:

We are trying to land new buisness but a large prospective customer is concerned with our future viability. We are trying to land new buisness but a large prospective customer is concerned with our future viability.

All large customers would think twice before investing money upon any product or service. The volume of investment measures the volume of risk. So, I'd like to know more about the volume of business that's being generated by other companies who're operating with similar products at the remodeling market in your locality.

Thanx, Pinkfloydfan
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Pinkfloydfan

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Posted: Thu Aug 06, 2009 7:16 am Post subject:

I don't think you can write any insurance policy for your customer since you're not an insurance carrier. However, you could try and get yourself associated with a carrier who's specialized to cover for such risks. But remember, that once you refer a customer to get covered under a carrier, you'd need to provide the same benefit to your other privileged customers. _________________ Register Now to have your Insurance queries solved.