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Trade Credit Insurance remains a robust and essential business tool for companies from all sectors, worldwide looking to trade in their own backyard and further afield.  However, the global pandemic has inevitably led to changes.

The criteria for credit limit approvals has changed due to the impact of reduced sales, resulting in greater emphasis on liquidity and the ability to service increased levels of debt. The onset of higher premiums (attributed to expected claims increases and limit reviews) signals the clear and compelling need for ICBA Broker support more than ever. It is the role of every Broker in the ICBA team to ensure clients are at the head of the queue when capacity is available. The ICBA is also playing a key role in gathering intelligence at the highest level. Emmanuel Portier, founder of The ICBA says “Throughout the pandemic The ICBA Executive Board has been in daily contact with risk underwriters and is holding weekly virtual meetings with the board members and group risk directors of the main insurers to stay ahead of developments.  We monitor all sources that influence Trade Credit Insurance. And ICBA broker partners are in close contact with their local underwriters. This amounts to 45 countries where we have a direct presence. This level of engagement means we can influence decisions taken at a local and a global level. Crucially we can provide a level of support to our clients that exceeds their expectations and that places them in a position to trade knowing they have Trade Credit Insurance in place.”