Marsh has launched a Trade Credit Helpline to help UK businesses address issues related to credit risk. Marsh said: “Mounting fears of a UK recession among businesses have led to a sharp increase in enquiries about purchasing trade credit insurance, but the protection available from insurers is becoming limited in some sectors.”
The type of advice available aims to let businesses know “if their business or any business they trade with:
— has had their credit insurance reduced or withdrawn by credit insurers
— is worried that payments from debtors may be missed due to default or insolvency
— is currently re-negotiating lending facilities with reluctant bankers
— is seeking guidance on the best ways to optimise credit management
— is looking for guidance and support from a trusted adviser
Tim Smith, Leader of Marsh’s Trade Credit Practice, explained that it has been “handling an unprecedented level of client questions related to the deepening credit crisis. We have seen the number of enquiries about trade credit insurance double in the past 12 months.
“While the extreme volatility in the financial markets continues and impacts the wider business community, our team of experienced trade credit insurance and risk professionals can offer practical and considered counsel. Our Trade Credit Helpline is yet another way that Marsh is helping companies manage through the downturn.”
Businesses, whether Marsh clients or not, can contact the Trade Credit Helpline on 020 7357 2782 (available between 8am and 6pm weekdays), or email the team at: firstname.lastname@example.org.
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