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Daily Insurance Industry News
Monday 24th of September 2018
September 27, 2011

Marsh enhances SME trade credit offering

by Gill Montia

Story link: Marsh enhances SME trade credit offering

Marsh has enhanced its CoverCredit offering, having taken note of the difficulties experienced by some of the UK’s small and medium-sized enterprises in securing trade credit insurance.

Developed with specialist in the field, Coface, the new package is available to businesses with annual sales of up to £10 million and provides protection against non-payment and insolvency for the sale of good and services in the European Union and other agreed countries.

According to the broker, trade credit insurers are continuing to do battle on pricing for large corporate accounts, but many are exercising caution when evaluating proposals from SMEs, notably in the timber, construction and non-food retail sectors.

For SMEs, the sectors are perceived as “high risk” by some insurers, despite many small companies continue to trade successfully in challenged areas of the economy, and Marsh believes CoverCredit can provide the security they will be looking for in granting credit.

The firm’s UK trade credit practice leader, Tim Fisher, comments: “Trade credit insurance and risk management are vital protection mechanisms for SMEs, as one sizeable bad debt could have catastrophic consequences.”

Available online and with dedicated telephone support, the policy offers an all-inclusive price, fixed for the policy period and payable monthly or quarterly by direct debit, with a discount is available for full payment in advance.

 

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