Birmingham-based independent insurance brokers Jobson James has appointed Rob Potts to head up a new trade credit division.

Mr Potts has worked in a variety of senior commercial underwriting roles for a number of the leading credit insurers and was for many years the business manager for Atradius working out of their Birmingham branch.

He was most recently trade credit director for Willis with responsibility for their Birmingham and Manchester offices.

The new division will provide existing and new clients with single or specific account cover; whole turnover cover whereby the majority of one’s sales ledger is insured; principal customer cover and catastrophe cover.

Director Richard Waltier said: “Credit insurance is a cost effective and simple way of insuring against the risk of not getting paid by one’s customers.

“The effect of bad debt on profitability can be disastrous.

“For example, if a company is operating on a five per cent profit margin and suffers a trade debt of £10,000, you need to make further sales of £200,000 just to recoup the lost capital.”