“Unprecedented” withdrawal of insurance hits thousands
More than 12,000 companies, and as many as 20,000, have had credit insurance withdrawn the FT reports today.
It quotes one broker as describing the move as “unprecedented in my life” and says Atradius is cutting back the most.
The FT reports that Atradius is aiming to reduce exposure to risk in the UK by about 7 per cent compared with a 5 per cent cut in the rest of the world – a reduction of approximately £25 billion worth of exposure. The FT quotes Atradius as saying “We are reacting prudently to our view of current economic conditions and our own economic forecasts for 2009.”
Atradius was not available for comment this morning.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
