Biba's head of technical services puts trade credit insurance under the spotlight
The final weeks before our conference have been busy as usual, but my focus has been on trade credit insurance, which in the past has been labelled the ‘oil that lubricates the UK economy’. The dramatic changes in the accessibility and availability of trade credit cover, and even a total withdrawal of cover for certain industries, has really put this issue back in the spotlight.
At Biba, we’ve been working with our newly formed focus group of expert members to put together a fringe event on trade credit at our conference, to allow brokers to join in this debate and to hear the insurers’ positions. I’m sure that the debate should be interesting, and it will be good to see how the industry responds to questions such as ‘why did the withdrawals happen?’ and ‘what is the market doing to rebuild confidence?’, and to hear assurances that lessons have been learned.
Biba’s new trade credit working group has already been in discussion with trade credit insurers, government departments and the ABI’s trade credit council, but it will be good to see brokers and insurers together at the conference, thrashing out over-riding issues that are yet to be concluded. The panel of insurers is just being finalised, and will be chaired by the ABI’s trade credit council, so I’m expecting brokers with an interest in this area to be keen to be involved.
On the subject of broker involvement, I heard yesterday that more than 1,300 brokers have already registered to join us at the Biba conference on 19 and 20 May, at London’s ExCeL centre in the Docklands. Last year, the exhibition achieved the Trade Association Forum’s Exhibition of the Year Award, and with so many brokers and 160 exhibitors set to be there this year, I’m sure that Biba 2010 will be equally as worthwhile for all involved.
I’m looking forward to catching up with as many brokers as possible, and in the meantime will be brushing up on my bowling skills and dusting off my bow tie for the two social events. And don’t forget, there is such thing as a free lunch. Register in advance and I’m told that not only will all Biba brokers attend for free, but they’ll be fed too!
Peter Staddon is head of technical services at the British Insurance Brokers' Association (Biba).
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