Lack of insurance hampers trade

Many retailers and other businesses are suffering from having to pay suppliers upfront, as insurers have been refusing to offer them cover

21st November, 2009

Billions of euro in Irish trade is covered by credit insurance, but over the past year, significant levels of this cover have been withdrawn, causing problems for thousands of businesses.

Retailers in particular are finding that insurers are declining to cover orders with suppliers, with many of Ireland’s leading stores under pressure to pay cash upfront.

Trade credit insurance has been the mechanism that allows many suppliers to offer credit to trading partners...

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