Late reporting: inform us within the deadline
The top reason why we reject claims is late reporting of an overdue payment or adverse information (for example, if a cheque bounces).
It’s very easy to assume your customer is going to pay you next week. That's what they're saying so you delay reporting, but by the following week they still haven’t paid… After a while, the maximum date to report the claim has passed.
Reporting on time is essential:
- It increases our ability to collect your money.
- It adds to our knowledge about companies and enables us to provide predictive protection.
You should take note of the terms of your cover (maximum payment terms, Maximum Extension Period, reporting deadlines…) and let us know right away when something happens that could put payment at risk.
Check out our guide on Reporting overdue or adverse information.