Staying in credit.
Despite the many economic threats on the horizon, including most prominently the Millennium Bug and the switch to euro, a large number of UK companies are still trusting to luck where their receivables are concerned, says Shona Cronin.
The UK credit industry is currently valued at over £300m-worth ofgross written premium, with policies covering turnover of £176bn. This
constitutes approximately 20% of the gross domestic product. However, this
market is still underdeveloped, with some players estimating that only
15,000 companies in the UK have credit insurance cover. A survey conducted
by the Institute of Export, shows that export insurance has fared worse
with the number of exporters buying insurance falling from 47% in 1998
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