This is on top of an unprecedented package of support that have put in place to help protect individuals, businesses and the economy.

The Government Guarantee for Trade Credit Insurance 13 May 2020

Many may have seen the welcomed announcement by the Government on their intended support to the UK Credit Insurance Industry.   We are actively participating with the ABI and government representatives but it is difficult to anticipate the full extent of the proposals and how and when it will be implemented.  However, these measures should help give confidence in our industry and to our clients and is in addition to other measures that the Government have implemented to support the economy.

This crisis is unprecedented and the disruption to trade significant and unfortunately is leading to an exponential increase in late payment and insolvency.  It is further encouraging that the Government recognises the vital role our industry plays in the support of trade and keeping supply chains functioning.  We at Coface are determined to assist our clients and help them navigate through the crisis.

The Governments announcement, issued by HM Treasury 13 May 2020

It is important to note that, whatever the final details of the scheme, all insurers will remain bound by their duties towards regulatory authorities and their reinsurers.

Sign up for the latest news

Blog

It’s never been more important to really know your customers

As the lockdown restrictions ease, the Government has given more businesses the green light to start operating again, provided they can observe the necessary social distancing and infection control measures.

View Blog
Blog

Five risks of emerging from lockdown

Compounding the tragic loss of life and the impact on our physical and mental health, the coronavirus has exacted a painful toll on livelihoods and the economy.

View Blog
Blog

5 ways your business can make use of ‘lockdown’

The coronavirus lockdown is turning into an endurance test for everyone but it is especially difficult for the business community who must contend with the financial shock caused by the enforced interruption of trade and the conti

View Blog