There was an interesting article in the Financial Times a few days ago noting how figures from the Association of British Insurers (ABI) show that trade credit insurance claims are on the rise with claims running at more than £4million a week, the highest level since 2009.
The increase comes as insolvencies are on the rise. According to data from National Statistics, there were 4,462 insolvencies in England and Wales in the first quarter of the year, 13 per cent more than in the same period last year. Currently, more than £340billion of UK trade is being covered by trade credit policies, according to the ABI.
If you would like to discuss how credit insurance can benefit and protect your business (or if you are an intermediary or lender, your client’s business) please get in touch here