Trade Credit
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EC approves French export guarantee scheme for SMEs hit by virus
The European Commission has approved, under EU state aid rules, a French guarantee scheme for small and midsize companies with…
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Contract frustration claims from virus likely to lead trade credit losses: Kennedys
The Covid-19 pandemic will deliver insured losses in the trade credit market, mainly from falling commodity prices, increased governmental intervention…
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CNA share price rises as Robusto explains BI policies exclude virus
CNA’s share price actually rose after the group reported a net loss of $61m for the first quarter of this…
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Duperreault says Covid-19 will be single largest catastrophe ever seen
The Covid-19 pandemic hammered AIG’s first-quarter underwriting result and post-tax adjusted profits, as the insurer suffered the double hit of…
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Retroactive expansion of BI coverage challenges ‘very notion’ of insurance: Glaser
Marsh president and CEO Dan Glaser has said that efforts by lawyers and legislators in the US to try and…
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CCR hands net profit to state-backed credit insurance scheme to help with virus claims
CCR, the French public-sector reinsurer for natural catastrophe and uninsurable risks, has decided to contribute its 2019 net profit to…
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Coface in talks with various governments about schemes to bolster credit cover
France-based international credit insurer Coface reported a solid set of first-quarter results little affected by the Covid-19 pandemic. But the…
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IMF calls for working capital bridge loans to stave off collapse of SME sector across Asia
The International Monetary Fund (IMF) has called on nations across Asia to introduce “working capital bridge loans” well beyond what…
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GVNW pleads for urgent action on state-backed pandemic risk system
The GVNW, Germany's risk and insurance management association, has issued a call to the German government and wider insurance market,…
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Liberty Mutual expects virus impact to equate to moderate-sized catastrophe
US-based insurance group Liberty Mutual has published a calm update on the impact of the Covid-19 pandemic in its first-quarter…
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Forecasts of coronavirus insured losses mount as BI policies look more vulnerable
Evidence is mounting that the Covid-19 crisis will hit the European and international insurance sector harder than originally envisaged, not…
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Pressure builds on EU to harmonise and extend trade credit support during crisis
The European Union needs to do more to help the trade risk and asset origination market help companies survive and…
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Belgian state to reinsure credit insurers and maintain limits during crisis
State-owned Belgian export credit agency and private credit insurer Credendo has agreed to reinsure credit risks worth close to €60bn…
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Spanish risk managers say pandemic is boosting market hardening
The Covid-19 pandemic is strengthening the hardening insurance market trend, moving underwriters to further restrict capacities and demand rate increases…
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UK in talks over trade credit insurance backstop
Trade credit insurers are in talks with the UK government over a possible reinsurance backstop, following similar moves to support…
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Coronavirus to drive 25% rise in business failures: Coface
The coronavirus pandemic is set to increase global business failures by 25% in 2020 and push 68 of the world’s…
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Germany to back trade credit insurers during Covid-19 crisis: Reuters
The German government has struck a deal with the country’s trade credit insurers to ensure trade is covered through the…
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QBE reduces trade credit limits
QBE has told Commercial Risk Europe it is revising all European trade credit limits downwards, apart from for firms deemed crucial…
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Moody’s says virus will hit credit insurers harder than credit crisis
Credit ratings agency Moody’s has changed the outlook for the Atradius group of credit insurers (ACyC), Coface and Clal Credit…
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Atradius sees 2019 revenue increase and predicts insolvency growth in 2020
Atradius has reported an increase in revenue and result after tax for 2019, with fewer large claims compared to 2018.…