Credit insurance debt protection benefits as UK retail administration levels rise

There has been a 15% increase in the number of retailers falling into administration in the first quarter of this year, compared to the same period last year, according to research by Deloitte, which also represents a 64% increase on the previous quarter.

Some high profile names include Peacocks, La Senza, Game, Past Times, Blacks and Firetrap clothing.

We are also seeing failures in other sectors as they are impacted the knock on effects.

Fraud Prevention - spotting fraud and checking new customers

Nobody appreciates bad debts especially when, with a little care, they could be preventable. Recognising and preventing fraud is a key issue for every business, and should form part of the credit risk management strategy. The following suggestions can help you prevent difficulties occurring in the first place - and mitigate problems if they do.

List of Companies in Administration

The following companies went into administration between 26th March and 2nd April 2012.

If you have a credit insurance policy and one of your customers enters administration, you should notify the loss immediately, so that your claim can be dealt with swiftly.

Key Catering Plc administration. Credit insurance food for thought.

We spoke to a company this week that had previously asked us for a quotation for credit insurance but decided not to proceed as they felt that they had a ‘blue chip’ customer list.

One of their larger customers was Key Catering Plc, whom they had a good trading relationship with and felt that they were one of their better credit risks.