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ICBA Welcomes Government Support for Trade Credit Insurance

18 May, 2020

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News that some governments are supporting Trade Credit Insurance has been welcomed by The ICBA. Governments in Germany, Spain and Belgium have supported the market with strong reinsurance of the losses (30 billion euro in Germany after the first 5 billion of losses are paid jointly with the insurers). The UK government has confirmed that by May 31st it will provide guarantees for all currently available Trade Credit Insurance. The final agreement will see the risk shared “appropriately” between the government and insurers, (Treasury statement). “These initiatives at governmental level will enable underwriters to support companies that are looking to trade and raise working capital as the economy recovers,” said Andy Moylan, ICBA Executive Board member.

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