Allianz Trade launches refreshed trade credit insurance product suite

Allianz Trade has launched an enhanced trade credit insurance product suite in the UK and Ireland.

The refreshed product will feature a range of enhancements to existing provisions, such as fully retrospective cover for approved buyer risks.

It will also offer confiscation, expropriation, nationalisation and destruction political risk coverage as standard, where it was not included as part of the core trade credit insurance product before.

In addition to the bolstered offering, policyholders will be provided with simpler documentation, as well as a quick access online portal to retrieve policy documentation and other information.

Allianz Trade believes the new features will enhance efficiency for brokers and insureds alike.

Peter Evola, Allianz Trade’s commercial director for the UK and Ireland, said: “Today is a key milestone not just for Allianz Trade in the UK and Ireland, but represents a shift for the entire trade credit market.

“The message is loud and clear – we are prioritising innovation to ensure our core product is what our clients and partners need today, to give them confidence to trade tomorrow and to give us a base to innovate even further in the future.

“Early feedback from our brokers is encouraging. I’m immensely proud of our team for creating such a comprehensive product suite that is easy to use and cements our position as the leading trade credit insurer.”

Terms

All new business will be underwritten per the terms of the new policy wording, while existing policies will transition at natural renewal points throughout the year. 

Sarah Murrow, Allianz Trade’s chief executive for the UK and Ireland, said: “Our updated policy wording is designed to give our insureds the security and confidence to trade and grow, despite prevailing economic uncertainty, while providing brokers with a solution that is simple to use and makes their job easier.”