Harder to buy, worse terms, fewer covered and too slow

The CBI has called for further government help for busiess and highlighted credit insurance problems in a survey.

Its survey found:

  • 39% of use credit insurance to cover the supply of goods
  • 65% of these report its availability has worsened in the last three months
  • 72% saw a deterioration in the credit limit insured
  • 60% saw the number of customers insured reduced
  • 56% reported slower and more complex renewal
  • 50% reported higher cost of cover

Ian McCafferty, the CBI's chief economic adviser said: "The lack of available trade credit insurance is also a real problem for firms that rely on it, and large businesses have been particularly hit."

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