What we do not do
- No overdraft facility
- No factoring or stock finance
- No financing advice
Working capital: we refer you on
We insure; we do not provide finance and do not act as intermediaries for it either. What we do here is explain what to look out for in working capital finance, and which risks you are better off insuring than financing.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
Please note: borrowing money costs money. Working capital finance is often priced per week or per month, with an arrangement fee and a commitment fee on top. For consumer credit the annual percentage rate (APR) forces providers to give one comparable figure. For business credit it does not. So always convert short-term costs to annual basisyourself, otherwise expensive money looks cheap.
Finass Verzekert holds an AFM licence for non-life insurance. Credit falls under a different licence category: we do not provide finance, do not advise on it and do not act as intermediaries for it. You arrange that with a bank or a specialist lender.
Part of the working capital problem is also not a finance question but a risk question. A debtor who does not pay, a fire in the warehouse or a standstill after a loss hits your cash position harder than an interest charge. There is insurance for those, and that we do arrange.
Insurance that matches your sector
Every sector carries its own risks. We translate those into cover that genuinely fits what you do day to day, rather than a standard package that just happens to apply to your business too.
SectorsPhoto coming soon
TailoredPhoto coming soon
CoverPhoto coming soon
Who does what?
How the roles are divided between our firm and the party financing the working capital.
What to look out for
The points that determine the price and the risk.
- Costs converted to an annual basis
- The lender's right to terminate the facility
- Security over receivables and stock
What we do provide
The risks that hit your cash position hardest.
- Stock, business contents and buildings
- Business interruption during downtime
- Liability and legal expenses
What is covered
| Situation | At Finass Verzekert | With the licensed provider |
|---|---|---|
| Overdraft facility or short-term loan | No | Yes |
| Factoring and stock finance | No | Yes |
| Assessment of figures and security | No | Yes |
| Stock and business contents insurance | Yes | No |
| Business interruption after a covered loss | Yes | No |
| The financier as an interested party on the policy | Yes | No |
What is actually covered, including exclusions and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart).
What to look out for when comparing
- Costs on an annual basis: including commissions and charges
- Cancellation terms: term and covenants
- Security: pledge over receivables and stock
- Personal guarantee: affects your private assets
- Insurance requirement: which cover is required
- Risk or finance: what you are better off insuring than borrowing
This overview is general in nature and is not personal advice.
How it works
- You choose a lender yourselfA bank or a specialist party assesses your application independently.
- You convert the costsAll commissions and rates together, expressed on an annual basis.
- You read the termination clauseCovenants, notice period, security and personal guarantees.
- We cover the risk sideStock, business contents, business interruption and liability.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Where things go wrong in practice
Four points that determine whether working capital gives you room or ties you down.
Convert short-term costs to an annual basis
A rate per week or per month looks modest, but with a short-term facility you keep renewing it adds up quickly. Ask for the total cost over a year, including the arrangement fee, the commitment fee on the undrawn part and administration charges. Without that step you are not comparing a revolving facility fairly with an amortising loan.
An overdraft facility can usually be terminated
A revolving facility often states that the financier can terminate or reducethe credit at short notice, for instance if a covenant is breached or reporting disappoints. That makes it not a structural source of finance. Read the termination clause and the covenants and work out whether your business would survive a sudden reduction.
Security over receivables and stock limits your room for manoeuvre
Financiers usually ask for a right of pledge over receivables and stock. That means you cannot use those same assets elsewhere and that with factoring your customers pay the financier directly. Consider what that does to your customer relationships, and whether a a personal guarantee is required; that puts your private assets on the line.
Insuring is sometimes cheaper than financing
Part of the pressure on cash comes not from growth but from risk. A fire or burglary in the warehouse hits your stock. The loss of turnover that follows is only covered by business interruption insurance where covered physical damage lies behind it. Unpaid invoices can be covered with credit insurance, with its own acceptance and notification conditions for each debtor.
Frequently asked questions
This is what people ask us most.
Does Finass Verzekert provide working capital?
No. Our AFM licence covers general insurance. Overdraft facilities, factoring and stock finance fall outside it. We do not provide them, do not advise on them and do not act as intermediaries for them. We do insure the stock, the business contents, the business interruption and the liability, and we have your financier recorded on the policy as interested party.
Why do I have to convert costs to an annual basis?
Because short-term finance is usually priced per week or per month. A rate that looks small becomes substantial on an annual basis when repeatedly renewed. For business credit an annual percentage rate of charge is not compulsory, so you do that calculation yourself. Include the arrangement fee, the commitment fee and administration charges, otherwise your comparison is incomplete.
What is the risk of a pledge over my receivables?
You cannot use those receivables a second time as security, and with factoring customers pay the financier directly. If there are payment difficulties, the financier can start collecting from your customers itself. Assess what that means for your customer relationships and whether you can end the facility if you wish without disproportionate cost.
Does business interruption insurance cover every fall in turnover?
No. Business interruption pays the gross profit lost after covered physical damage, such as fire, storm or burglary, and then within an agreed indemnity period. A fall in turnover through market conditions, a customer dropping away or a supply problem without physical damage is not included. Cyber incidents call for separate cover.
Every situation is different. For these situations we have a separate page.
- Business interruption insurance by sectorThe main page
- Financial lease for business ownersBeneficial owner, interested party, business interruption
- Business insurance: what does that mean?Umbrella term, liability, business assets
- Insuring a financial leaseEconomic owner, comprehensive cover, outstanding balance
- Business insurance at a glanceLiability, assets, continuity
- Business insurance by sectorInsured capacity, sector, risk class
- Business finance: we refer you onNote: borrowing money costs money, APR, security
- Business services: financing and insurancePlease note: borrowing money costs money, cash flow, professional indemnity
Cash pressure from risk or from growth?
We look at which part you are better off insuring than financing, and arrange those policies.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
This page was compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.