Credit Insurance policies ease the effect of the Carillion collapse
The domino effect of Carillion’s demise may affect tens of thousands of smaller companies, many of which will have been working for one of their sub-contractors
Written by Paul Brown on 23rd January 2018
In a recent article in the Telegraph*, the Chief Executive of Build UK said she estimated that Carillion owed money to between 25,000 and 30,000 businesses, some of which were owed the equivalent of 10% of their turnover. In the same article, she went on to say that in previous cases of large contractor failures, you see around 17-18% of businesses who are creditors not making it through the next five years .
Many SME businesses may now struggle to gauge the credit worthiness of the companies they trade with and the buyer information provided by credit insurers can prove invaluable in this respect.
Check out this article by our colleague Richard Miller at PIB’s TradeRisk Solutions team.
Now is the time to be talking to the TradeRisk Solutions team at PIB Insurance Brokers. Contact us on 01332 545720 or firstname.lastname@example.org
to see how we can assist your business .