Integro Insurance Brokers has entered into a new business venture with Indemnis Trade Risk Management to offer trade risk management programs to clients within North America.
“Indemnis brings a capability to Integro that is relevant to the very livelihood of our clients – from mitigating the impact from credit default of a major customer or the result of a political event, to enhancing a client’s financing and supporting its desired sales growth,” said Roger Egan, chief executive officer of Integro.
Heightened scrutiny regarding corporate compliance has prompted companies to review their trade risk management needs within the context of their property and casualty insurance requirements. Further, the business venture is in response to the growing acceptance of business credit insurance in North America and large companies’ limited choice among today’s credit insurance brokers.
“The Integro-Indemnis business venture is a dynamic response to market developments,” said Indemnis chief executive officer, Tom Leonard.
According to Egan and Leonard, the timing of this relationship is critical for clients. With interest rates edging up and bankruptcies in an upward trend from cyclical lows, credit insurance rates continue to fall and customer capacity is peaking. “It is an optimal time to lock into a cost effective program that will see businesses through an unpredictable economy,” Leonard added.
Indemnis’ customized client solutions embrace a range of program alternatives, including traditional credit insurance as well as complementary sophisticated alternatives, such as captive self insurance, credit default swaps, puts and securitization.
“This venture creates an exclusive partnership that joins the specialized trade risk management know-how of Indemnis with the depth and range of property casualty expertise and relationships of Integro,” Egan stated.
Source: Integro, Indemnis
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