ICBA Says Need for Specialist Broker Expertise ‘Never Been Greater’

2018 was a challenging year for the Trade Credit Insurance sector. Globally, Underwriters representing powerhouse brands reduced limits or pulled cover and, claims that would have been paid in previous years were rejected. It’s a trend that will continue in 2019 according to the ICBA (International Credit Brokers Alliance), Chairman Emmanuel Portier.

“The decreasing risk appetite from Underwriters will prevail for the foreseeable future,” says Emmanuel Portier. “This places a real importance on the expertise of specialist Brokers whose remit is to ensure any Trade Credit Policy is fit for purpose. A Broker with expertise and experience will take clients through an audit and compliance process to ensure all information has been submitted as required by the Policy conditions. Should a claim be made, it’s unlikely to be rejected.”

“These trends should not stop an organisation considering exporting to other countries, especially in emerging markets,” continues Emmanuel Portier. “17 years ago the powerhouses of trade were the 5 big European countries. Today the biggest trade footprint is in Asia, Africa, Latin America and Eastern Europe. The ICBA Broker Partner will provide up to date information, research, key facts and statistics to a business that needs this level of information before making the business case for exporting.

If your business is based in Britain and you’re considering exporting to South Korea for example, your ICBA Broker Partner in Britain will communicate directly with the ICBA Broker Partner in Korea, connecting you at the right stage. Every ICBA Broker Partner understands their economy and crucially current and emerging trends. On the strength of this, a client can make an informed decision backed up with a Trade Credit Insurance Policy that will enable them to trade overseas with certainty and comfort.”

“Our goal in 2019 is to continue showing organizations with an appetite for overseas growth that the ICBA can provide the support they need. The Clarity, expertise and local business intelligence provided by our Broker Partners has never been more important in a world that abounds with fluctuating degrees of opportunity and uncertainty.”