Trade Credit Insurance Guarantee Launched

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 But due to COVID-19 and businesses struggling to pay bills, businesses have faced the risk of credit insurance withdrawn, or premiums increasing to unaffordable levels.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.

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