Credit insurance costs rise for construction sector

Credit insurance costs for the construction sector could rise by as much as 10%, leading to underwriters withdrawing cover, Aon Trade Credit has warned. The firm said a large spike in customer insolvencies predicted towards the end of 2008 could result in construction firms being refused credit insurance. David Thomas, director at Aon Trade Credit, said that with loss ratios running in excess of 130% in recent years, he was expecting a severe increase in premium rates and an inability to negotia

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