News

Government Support for Trade Credit Insurers confirmed

  • Posted On: 4 June 2020
The details of Government suppoort for UK Trade Credit Insurers have been confirmed. The Government is providing £10Bn of support. It covers from April 2020 and runs to the end of the year. It should mean that capacity and coverage will be maintained at a higher level than otherwise would have happened, though our general advice remains unchanged. This is: Not all credit insurers will necessarily sign up, though all have been involved in the discussions, There is a premium cost...

UK Government Support for the Trade Credit Industry

  • Posted On: 14 May 2020
On the 13th May the Association of British Insurers (ABI) and John Glen, Economic Secretary to the UK Treasury, announced that the UK Government has agreed to support the UK Trade Credit Insurance Industry. The support will be HMG acting as a reinsurer, and will last at least until the end of 2020. The detail is yet to be finalised. The support should help to maintain the capacity of the insurers (the amount of cover they write) and prevent, or at least ameliorate, the feared widespread...

Covid 19 - The road to economic recovery?

  • Posted On: 4 May 2020
We are starting to see the first signs that the lockdown in the UK may ease. In the last couple of weeks an increasing number of businesses have reopened, albeit often in a limited way to allow for social distancing. On top of this there are widespread news reports of the Government's thinking on how the UK may start to return to work, with an announcement due on the 7th. It has always been clear that access to working capital and finance will, for many businesses (large and small),...

Covid 19 - Reporting Overdues

  • Posted On: 1 April 2020
In the current crisis insurers are anticipating a surge in non payments as businesses close, or trade at a reduced levels, for the duration of the UK lockdown. To allow for this, most have relaxed the reporting requirements of their policies. This relaxation varies from insurer to insurer, so please contact us for further details. One feature is common, which is that all policies carry an automatic cut off for cover for further despatches at a fixed point (from invoice date or due date), and...

Covid 19 - W Denis Credit Risks

  • Posted On: 20 March 2020
The spread of Covid 19 in the UK has been very rapid, and we are dealing with the situation as it changes. For most businesses the risk environment is heightened, with issues for many on both the supply and the demand side, and non payment increasingly likely. We will continue to support our clients with help and advice, whilst keeping our people safe. From the begining of this week we closed our offices in London and the Midlands, and staff are working remotely. Most of our staff in...

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