Lady Vadera has met credit insurers and will “think about it”
Business ministers Lady Shriti Vadera has not ruled out state support for credit insurance in an interview in the FT, the paper claims.
It reports she ruled out offering a state guarantee for all credit insurance, saying: "That is like saying 'let's guarantee the economy'." But the FT does quote her as saying: "We need to look at it and think about it."
Lady Vadera met the three big credit insurers - Atradius, Euler Hermes and Coface - last week. "They always tell you a lot more when you see them individually,” she told the FT.
Credit insurance is one of "five or six big-ticket" issues under urgent government consideration, Lady Vadera said.
Insurance industry commentators and government sources have suggested to Insurance Times that the FT has overplayed the credit insurance issue recently.
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