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Credit Insurance Claims on the Rise!

Date: 09 May 2018

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

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With offices in Dublin and Belfast, Credit Risk Brokers is one of the leading specialist Credit Insurance and Surety Bond Brokers in Ireland and a founding member of Farosol.  Our experienced teams have strong working relationships with the world’s leading credit insurers. This allows us to customise policies to offer bespoke solutions for your business and your circumstances.

Credit Risk Brokers DAC is authorised and regulated by the Central Bank of Ireland, registered number 486357.  CRB (NI) Limited, trading as Credit Risk Brokers, is authorised and regulated by the Financial Conduct Authority with firm reference number 912800 and registered company number NI649917. Covered by the Financial Ombudsman Service www.financial-ombudsman.org.uk.

 

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