credit insurance News

Aviation Sector Carries Biggest Risk of Corporate Default from Pandemic: Gallagher

The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday. Only 29% of credit and political risk insurers had seen claims …

HDI Global Specialty Launches London Political & Credit Risk Team with Hires from Neon

HDI Global Specialty SE, the specialty lines insurer, has launched a Political and Credit Risk team in London with the hires of Nick Robinson and Anthony Vaughan. Both have joined HDI Global Specialty SE’s London office from Neon Underwriting. (Neon …

UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers

The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to support UK business-to-business transactions …

UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance

The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit insurance during the COVID-19 crisis. The scheme will be delivered through a reinsurance agreement with trade credit insurers currently operating …

UK Insurers in Talks with Government About Creating Trade Credit Backstop

British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …

Germany to Provide Credit Insurance Guarantees to Keep Trade Flowing: Sources

The German government and the country’s credit insurance industry have agreed to help to maintain insurance cover for trade despite economic hardship related to the coronavirus outbreak, three people with knowledge of the plan said on Wednesday. Under the plan, …

EU Countries Give Guarantees to Credit Insurers to Prevent Coverage Cuts

European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said. Without insurance, companies can be reluctant …

SCOR-Backed Channel Syndicate Taps Coulson from Lancashire as Senior Underwriter

Channel Syndicate, which is backed by reinsurer SCOR, has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance, effective immediately. Coulson started on March 23 and will report to Kade Spears, …

U.K. Company Insolvencies Rise to Highest Level Since 2014 on Brexit Crisis

The number of companies in England and Wales unable to pay their debts rose to an almost six-year high in the third quarter as the Brexit crisis intensified. There were 4,355 company insolvencies, 0.4% more than in the second quarter, …

Demand for Trade Credit Insurance Grows Rapidly, as Brexit Fuels Insolvency Concerns

Companies are stepping up purchases of insurance to protect themselves against insolvencies in Britain, industry sources say, in part due to concerns about the impact of Brexit. The UK economy is feeling the pinch from the political uncertainty, which has …