Government Launches Trade Credit Insurance Guarantee To Support Businesses During Covid-19
- Trade credit insurance plays a significant role in construction, giving businesses the confidence to trade with one another. But due to COVID-19 and businesses struggling to pay bills, businesses have faced the risk of credit insurance withdrawn, or premiums increasing to unaffordable levels.
- The Government has today announced Trade Credit Insurance will receive up to £10 billion of government guarantees.
- The Trade Credit Reinsurance scheme, which has been agreed following extensive discussions with the insurance sector, will see the vast majority of Trade Credit Insurance coverage maintained across the UK.
- The CLC press release can be read here.