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Brexit, Rate Hikes Send Bad Debt Claims To Decade High

Law360, London (June 14, 2019, 6:33 PM BST) -- U.K. insurers paid out on 5,114 trade insurance claims in the first quarter of 2019, the highest number in 10 years, as Brexit uncertainty and rising rates could be causing businesses to fail, the Association of British Insurers said Friday.

The ABI, the voice of Britain's insurers, said that the number of claims made by U.K. businesses facing "bad debts" hit the highest level since the second quarter of 2009, when insurers paid out 5,661 times. And the 2019 figure is up 6% from the last three months of 2018.

Insurers pay out on trade credit insurance when a company they...

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