Trade Credit Claims: Most Common Reasons for Rejection
The UK trading environment is becoming tougher and as a result, Marsh UK saw a sharp rise in the number of trade credit insurance claims in 2018 – up 40% on 2017, most notably in the retail and construction sectors.
Trade credit insurance is a vital tool to guard against the risk of customers being unable to pay for goods and services. In uncertain economic times and with claims on the up, we expect insurers to start examining claims more closely, and foresee the potential for more claims to be rejected. We expect that claims will likely come under much greater scrutiny and strongly recommend that companies adhere to the terms and conditions of your policies.
Download our adviser for some of the reasons why in our experience, claims are either rejected or only paid in part.