Government protects trade credit insurance cover

The government has committed to support the trade credit insurance market with a £10bn state guarantee.
Construction is one of the largest users of trade credit insurance accounting for some 30% of the UK market.
Due to COVID-19 and firms struggling to pay bills, businesses have faced the risk of credit insurance being withdrawn, or premiums soaring to unaffordable levels.
 
The Government new Trade Credit Reinsurance scheme, which will apply to the end of the year, will see the vast