Trade Credit Insurance: It’s in the Bag

It has been reported that Nelson Packaging Limited has gone into administration and the new 5p charge for plastic bags has been blamed. Let’s look at the facts and find out how trade credit insurance could have protected the creditors!

Wales was the first UK nation to introduce the bag charges, followed by Northern Ireland and then Scotland.

A report in 2015 found the number of single-use carrier bags handed out by shops in Wales fell by 71% since charges were introduced in 2011.

Irish Pride bakers in receivership - Atradius pay millions in claims

Irish bakers Irish Pride went into receivership suddenly last month leaving many suppliers facing huge debts.

Atradius are paying substantial claims to some of their policyholders - read more about the case here

Credit insurance has no doubt saved some suppliers from facing the same fate themselves, and will continue to support them in trading with the new entity going forward.

Atradius Market Monitor October 2015

Atradius have published their latest edition of Market Monitor which includes latest reports on the UK, Brazil, China, France, Spain, as well as other markets, and a focus on the automotive sector.

Please contact us if you would like to receive a copy via email.

Claims data from the ABI shows increasing claims

The ABI has published trade credit claims statistics for quarter 2, 2015.

Gross paid claims were £34.7M, a 47% increase on quarter 1 and a 61% increase on the same period last year.

Domestic claims represented 87% of the total.

The total number of claims was 2,686 which is an increase of some 26% compared to the same quarter last year.

Statistically we have always seen increased claims as the economy recovers from a period of recession, as some companies find difficulty in coping with increased demand and costs.