Payouts By Credit Insurers At 10-Year High, Industry Says

Law360, London (March 22, 2019, 3:28 PM GMT) -- Credit insures are being hit with their highest level of claims for bad debt in more than a decade as U.K. businesses continue to feel the knock-on effects after a series of major company collapses, new figures from the Association of British Insurers revealed on Friday.

Insurers paid out £251 million ($331 million) in 2018, with 50 new claims made every day, the ABI said. The amount paid to help U.K. business recover unpaid debts is up 17 percent on 2017, when it reached £225 million, and is at its highest level since 2009.

New claims for trade credit insurance reached...

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