Trade credit insurance changes may leave brokers open to attack
Measures to widen cover available to UK businesses exporting to non-OECD countries could give brokers familiar with the changes a chance to poach clients
The Export Credits Guarantee Department’s (ECGD) decision to widen the cover available for UK businesses looking to export to non-OECD countries could expose brokers with a large SME book to attack from aggressive competitors.
Some of the key points to come out of the decision include a minimum contract value of £20,000 and cover available on a contract-by-contract basis only. It in effect plugs a gap in the market as historically private sector providers have preferred whole turnover accounts
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