Trade flows are down as the global economy slows. At the same time, geopolitical risks are leading to fragmentation of trading relations. In the near term, Swiss Re expects that rising counterparty risk on account of economic slowdown will support prices, and thereby growth in trade credit insurance (TCI).
Tag: trade credit insurance
Can Firms Exiting Russia Recoup Losses through Insurance?
Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co to PwC, a global professional services firm. The following is a look at how insurance and international arbitration might soften the blow to those companies, which stand… Continue reading Can Firms Exiting Russia Recoup Losses through Insurance?
Trade Credit Insurance Freeze Snarls U.S. Supply Chains
An obscure part of the insurance industry that helps commodities flow smoothly around the world is seizing up, presenting another obstacle to the U.S. economy’s fitful recovery. Trade-credit insurance, a financial tool that protects trade, has been severely cut back for U.S. companies, say insurance executives, brokers and policyholders. Companies are often reluctant to move… Continue reading Trade Credit Insurance Freeze Snarls U.S. Supply Chains
UK Government Forms Reinsurance Backstop for Continued Access to Trade Credit Insurance by Businesses
The Association of British Insurers (ABI) welcomes the UK Government’s announcement of a temporary, government-backed reinsurance scheme to help businesses access trade credit insurance as they recover from the impacts of Covid-19. The scheme aims to help speed up the economic recovery, by ensuring the continued availability of trade credit insurance in the face of… Continue reading UK Government Forms Reinsurance Backstop for Continued Access to Trade Credit Insurance by Businesses
Nexus Specialty to Offer Admitted Trade Credit Products in U.S.
Nexus Specialty, a part of MGA Nexus Group formerly known as Equinox Global, has agreed to a new program agreement which enables it to underwrite their trade credit products on a fully admitted basis in the US. Equinox’s adoption of the Nexus Specialty brand was announced after it was decided that the move would allow… Continue reading Nexus Specialty to Offer Admitted Trade Credit Products in U.S.