a recent July 2015 article in Construction News highlights the financial stress that firms in the construction sector have suffered in recent months, a fact borne out by a spike in the number, and size, of failures in the sector that has seen credit insurers settle some very large claims in 2015.
for information on credit insurance in the construction sector, please email email@example.com or call us on 0845 456 8838.
On 29th March, the Insolvency Service published UK insolvency statistics for Q1 2015 to March.
- Total company insolvencies in England and Wales were at their lowest level since Q4 2007.
- Creditors’ voluntary liquidations were at their lowest level since Q2 2008. However, compulsory liquidations increased for the first time since Q1 2014.
- The number of administrations increased on the previous quarter but were down on the year, while receiverships and company voluntary arrangements both declined to their lowest level since Q4 2007.
AIG UK have launched a revolutionary new trade credit product for businesses with annual sales between £10M and £50M.
Offering “ground up” cover and non-cancellable insurer credit limits, and linked to the policyholder’s accounting package, AIG Trade+ continually monitors debtor payment performance and applies for higher insured limits where needed and reports late payers to the insurer automatically.
For more information, and to obtain a quote, please contact David Encell on 0845 456 8838.