CORONA CRISIS – THE TRADE CREDIT INSURANCE RESPONSE

It is early days, but there are indications emerging which indicate that underwriters are granting extended notification periods to avoid, in part, a wave of claims. Underwriting markets around the world are behaving differently and it is worth noting that local underwriters are closer to the client’s business needs and less constrained by international head office directives. Nevertheless, as may be expected, there is a general worldwide trend in the reduction of limits according to requirement with any surplus being withdrawn. Renewals are for the most part being scrutinised much more rigorously, and rate increases are imposed depending to sector. While these are general themes which are being experienced, there are distinct geographical differences. For more in-depth analysis contact your regional Farosol broker.