Claims

As a business owner, you know how important it is to protect yourself from insolvent companies. If a customer is unable to pay you, we can protect your cash flow and resolve your insurance claim in a few simple steps.

How do I make an insurance claim?

Notify us

When a customer becomes insolvent, you will receive a confirmatory letter from the administrators, which you need to send to us.

Receive payment

We check all your documents and keep up in touch with you. When everything is approved, we aim to pay you within five working days.

Send documents

Once you’ve heard from the administrators, send us your original invoice, policy details, and the insolvency letter.

Nimbla in action

Step 2

Bob’s Bakery fails to pay the invoice after 30 days after going insolvent, leaving Martin out of pocket.

Step 3

Martin’s Machines receives a letter from the administrators confirming Bob’s Bakery is insolvent.

Step 4

Martin sends over his invoice and policy documents to us by email.

Step 6

Martin’s claim is approved, and he receives £8,100 in payment (i.e. original invoice amount minus the deductible).

Step 1

Martin’s Machines insures a £9,000 invoice for supplying a machine to Bob’s Bakery, who have agreed to pay within 30 days.

Step 5

We immediately assess Martin’s claim and keep him informed of any developments.

Frequently asked questions

What type of losses can I claim for on my insurance?

You can claim if your buyer is declared insolvent (by way of receivership, administration, liquidation, winding up or a court approved compromise with all creditors) or is declared bankrupt.

When can I submit a claim?

You can submit an insurance claim once you’ve received confirmation from the administrators.

When will I receive my payment after submitting a claim?

You will receive payment after we’ve reviewed and approved your insurance claim. We aim to pay out within five working days.

Will I get the full amount back?

Not everything as there’s a standard deductible charge of 10%. We aim to pay you within five working days once your claim has been approved.