Umberto Oliva, ICB’s Director of Credit Division, comments on the announcement:
‘We all appreciate failures occur daily cross-sector, but it’s when the household names that go bust like Carillion, Maplins, Toys R Us, House of Fraser and British Steel that people really stand up and take note. In tough economic times such as these - with companies being affected by Brexit uncertainty, weaker consumer spending and increasing operating costs, among other factors - it is wise to be protected from bad debt.
Having a Credit insurance policy in place offers an array of benefits, however, fundamentally it safeguards a business from potentially crippling losses, because even the largest companies are no longer “immortal” as demonstrated in recent times.
Considering cover in these very uncertain times could well be the key to success and to avoiding unwanted losses which can cause serious business interruptions, or in severe instances – failure.'
If you want to ensure your business is well protected, please contact the ICB Credit team to conduct a free exposure review. For more information, please contact Umberto on his details below.
Director Credit Division
D: +44 (0) 208 282 8590
Authorised and regulated by the Financial Conduct Authority. Picture credit: © Oleg Yermolov