General Insurance Article - End of Government Reinsurance Scheme


Stuart Ramsden, Regional Director UK & Ireland at leading trade credit insurer Atradius, commented on the end of the Government reinsurance Scheme

 "The Government was fast to recognise the essential role trade credit insurance plays in enabling trade, protecting businesses from the risk of non-payment. The Trade Credit Reinsurance Scheme was revolutionary in terms of the blanket support it provided for the industry, enabling insurers to maintain underwriting stances on limits which would otherwise have been unfeasible due to the pronounced economic impact caused by Covid-19. This ensured the lifeline of non-payment protection has remained in place for businesses.
 
 As the lockdown of businesses eases and we see the signs of economic recovery, with the scheme coming to an end, we are confident there will be a smooth transition for our customers. We constantly review our risk portfolio to ensure we are providing the best protection for customers and this has continued throughout the pandemic. Therefore, after the scheme ends, we do not expect to see significant changes.
 
 In today’s uncertain climate, trade credit insurance has never been more vital and this is increasingly being recognised by businesses who are working with us to develop robust trade strategies to seize opportunities and mitigate risk with the buffer of protection from non-payment."
  

Back to Index


Similar News to this Story

IFoA supports consumer fairness in GI pricing
The professional standards and education syllabus which support actuaries involved in pricing for the UK home and motor insurance market should have a
The true cost to business from Ransomware
Cybereason, the leader in future-ready attack protection, today released research findings from a global ransomware study of nearly 1,300 security pro
COVID19 cut macroeconomic resilience by 18 percent in 2020
Swiss Re Institute has published its Resilience Index for the third consecutive year, revealing that the COVID-19 crisis reduced global macroeconomic

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.