The US credit downgrade could have a knock-on effect to UK exporters, according to Equinox Global chief executive Mike Holley.
Holley said the downgrade could cause an increase in trade credit insurance claims and make it harder for counterparties to get cover as part of the wider negative feeling towards the global economy.
"There could potentially be a rise in premiums, but what you would expect to see first would be cover being harder to get, some cover being withdrawn and some claims coming in as well," he said.
UK firms were still showing a strong appetite to export to countries such as Greece, Spain and Italy, Holley said.
However, trade credit insurers were now more likely to favour exporters that had a history of doing business with those countries, he said.
"The people that have that cover are generally the people that have been buying it all along and have shown their face with the insurance industry earlier," he explained.
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