Press Release
Economic slowdown encourages more companies to take up trade credit insurance
4 September 2008
Figures published by the ABI (Association of British Insurers) show that the number of companies taking out credit insurance increased by 10% during 2007. This is the third consecutive year that the market has grown, with a 40% rise since 2004. This shows that more companies are relying on trade credit insurance to help them navigate risk and protect them during an economic slowdown.
Nick Starling, the ABI’s Director of General Insurance, said:
“It is positive news that there is a greater awareness amongst small businesses as to the value of trade credit insurance during periods of increased risk and volatility. The economic slowdown has driven the number of policies up to near-record highs.
“While the economy is in decline, trade credit insurers expect to pay out more claims during 2008, as business insolvencies rise.“
Latest Press Releases
- Queen's Speech 2008 - Preparing for the Challenges of the Future
- ECOFIN: A Missed Opportunity For Solvency II
- Pensions Act 2008 A Landmark In Pension Reform – Now It’s The Details That Matter
- Good News For Consumers As FSA Backs Abi’s Distribution Reform Proposals
- Half The Working Population Not Saving Enough For Retirement – Haddrill Calls For Pensions Boost
- Pre-Budget Report: Flood defences best candidate to boost capital expenditure
- Don't forget savings, Mr Darling - ABI's message for the Pre-Budget Report
- Barclays Placed On Red Top By Ivis
- ABI Reveals Whiplash Epidemic
- ABI Responds To Proposals For Nhs Top-Up Funding
Spread your message to an audience that counts, with options available for our website, email bulletins and publications including The House Magazine.
