Insurance losses likely as Carillion liquidated

Construction, trade credit and infrastructure insurers are
facing potential losses after one of the UK's biggest
contracting companies went into compulsory liquidation today.
Anticipating the company's bankruptcy, trade credit insurers
had already pulled new coverage of Carillion for suppliers, asreported by The Insurance Insider on Friday.These included market leader Euler Hermes.
Other trade credit underwriters, including Tokio Marine HCC and
the MGA Nexus, also told clients they would not be