A credit insurance policy has been developed exclusively for the construction industry by Gerling NCM after the credit management group warned that 2,000 construction were at risk due to poor debt management.
Last year 2,334 construction companies failed with a almost a third of these entering receivership because of the impact of debts and cashflow problems.
Gerling NCM's trade sector development manager Tony Garner said: "If you operate on a margin of 10% and a customer goes bust owing you £100,000 you need to complete a £1m contract just to make up the loss.
"That's why we have seen bad debts take out even the major players."
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.
