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22 Oct, 2019

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Commenting on trading conditions in 2019, ICBA Germany report: “We have seen significant progress in Germany through our ability to show large multinational groups the advantage of using the ICBA as a Trade Credit Broker Partner. We see real potential in bringing the message “ICBA-the number one in trade credit provider” into other markets globally.”

The team also report that “Risk action plans are materializing by the underwriters, bringing an enormous downswing of credit limit exposure in different countries and sectors with no clear end point but with the potential for further accelerating. ….Finding second layer cover with top up underwriters has been crucial to absorb the loss of credit limit exposure. We have seen companies very much accepting of a fair risk pricing to buy in default cover which results in a win-win-win situation between supplier, buyer and underwriter.”

“We anticipated that the economic deterioration would lead to underwriters implementing risk action plans. Accordingly we prepared the structure and wording of policies to give more options to respond. It’s good to hear from clients that this has yielded significant benefit including the prevention of any adverse commercial fallout.”

“We anticipate that 2020 will see a further downturn and higher pressure on limits and on capacities with increased risk costs. Given the challenges and opportunities faced by organisations looking to trade successfully on their own turf and in other countries the need for the ICBA as a facilitator of global growth is now more important than ever.”

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