Credit where credit's due
Dissatisfaction with the price-cutting and costs structure of the intermediary channel is leading some credit insurers to consider becoming direct sellers; but, says Gordon Cessford, they should recognise the essential role brokers play in this market
For the credit insurance industry, the past three years have seen unprecedented economic and political difficulties, affecting claims and loss ratios. A stock market in the doldrums has devalued investments and threatened financial stability, making it difficult to cement reinsurance contracts.
The broker channel is starting to appear increasingly unattractive to some of the major credit insurance providers, with some high-profile figures in the industry apparently wondering whether a direct
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