Partnership to improve British firms' access to export trade credit and finance

The British Insurance Brokers’ Association's (Biba's) trade risk focus group has formed a working group with the Export Credits Guarantee Department (ECGD), the UK export credit agency.

The partnership will find ways to improve access to export trade credit and finance for British companies.

Aon trade risks director Stuart Lawson is chairman of the trade risk focus group. Newstead International director Andrew Neill is deputy chairman.

In 2011 the group will:

  • Join talks with the ABI, government and ECGD on trade credit market challenges
  • Raise awareness of brokers’ products and how these can protect exporters
  • Encourage its members to promote the benefits of credit insurance and how a specialist broker can help businesses meet their credit insurance needs.

Biba head of technical services Peter Staddon said: "Exporters face difficulties accessing trade finance for many well-publicised reasons because of issues not strictly related to their business.

"For sometime brokers have felt that government has not appreciated the expertise they can bring to negotiations. We believe that ECGD and brokers can have a constructive dialogue which will benefit clients in handling their overseas trade risks."

Young broker award

Biba is also inviting nominations for its 2011 Young Broker of the Year Award.

The award, which carries a cash prize of £1,500, is now in its tenth year and is designed to recognise young brokers for their outstanding performance and encourages commitment to the future professionalism of the insurance industry.

The award will be presented on 11 May at the 2011 Biba conference, entitled “Opportunities in Adversity”, which is being held at Manchester Central from 11 to 12 May.

Award judges say they are looking to reward a rising star who has made a valuable contribution for the benefit of his/her company. To be eligible, the young broker should be able to demonstrate excellent performance, initiative, team spirit, personal progression and professional commitment to broking.

Entries should be submitted to an applicable Biba region, with regional winners going forward to the national award.

The deadline for entries is 31 March. Brokers wishing to nominate an individual for this award are advised to contact Kirsty Wingrove on 020 7397 0224 or at wingrovek@biba.org.uk.

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