BusinessCompany NewsKPMG behind Government’s new credit insurance scheme

KPMG behind Government's new credit insurance scheme

Scheme to prevent suppliers tightening payment terms

KPMG was involved in designing a government-sponsored credit insurance scheme
that was announced in the last Budget.

Reductions in the value of insurance cover has forced some suppliers to
shorten payment terms, putting pressure on their customers working capital.

Under the scheme, suppliers will be able to purchase Government-backed
insurance to either restore cover to the original level or double the amount
they are able to obtain from teh private sector up to the value of £1m.

KPMG said pricing the insurance proved difficult given the current economic
uncertainty.

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