Arguably, credit insurance is more important today than at any time since the global financial crisis over a decade ago.
Whilst we might have to accept that, as company insolvencies increase, access to cover will become more challenging and more expensive but at this time, our trade credit partner insurer Euler Hermes is still in the position to provide protection.
Euler Hermes, part of the Allianz Group, a key partner of Prescott Jones, are a world leader in trade credit insurance with over 100 years of experience, revenues of €2.7 billion and over 5,800 employees in over 50 countries.
As we move through a second month of lockdown, Euler Hermes expect global insolvencies to increase by 20-25% and it is sobering to understand that 76% of companies whose customers become insolvent get nothing by way of reclamations, meaning potentially disastrous cashflow problems.
Carrying credit insurance enables businesses to plan more confidently for the future, helping to release capital for growth projects, such as expanding into new markets, something so important as businesses look to recover from the shock of Covid-19.
Euler have set aside resources to respond to our existing and potential clients.
To discuss this further and organise a confidential review with our credit insurer partner, please contact either your existing Prescott Jones Account Executive or Paul Gardner @ firstname.lastname@example.org .