Trade Credit Insurance backed by £10 billion guarantee
The government is set to provide guarantees of up to £10 billion to Trade Credit Insurance schemes for business-to-business transactions.
This Trade Credit Reinsurance scheme, which has been agreed following extensive discussions with the insurance sector, will see the vast majority of Trade Credit Insurance coverage maintained across the UK.
The guarantees will support supply chains and help businesses during the coronavirus pandemic to trade with confidence, safe in the knowledge that they will be protected if a customer defaults or delays on a payment.
This scheme is available on a temporary basis for nine months, backdated to 1 April 2020, and available to insurers operating in the UK market. For further information please click