Harder to buy, worse terms, fewer covered and too slow
The CBI has called for further government help for busiess and highlighted credit insurance problems in a survey.
Its survey found:
- 39% of use credit insurance to cover the supply of goods
- 65% of these report its availability has worsened in the last three months
- 72% saw a deterioration in the credit limit insured
- 60% saw the number of customers insured reduced
- 56% reported slower and more complex renewal
- 50% reported higher cost of cover
Ian McCafferty, the CBI's chief economic adviser said: "The lack of available trade credit insurance is also a real problem for firms that rely on it, and large businesses have been particularly hit."
