has suggested credit insurers should look at increasing premiums
rather than just pulling cover.
The tough economic conditions have seen a number of trade credit insurers
pull their cover. But KPMG general insurance advisory partner Mark Winlow said
increasing premiums was better than pulling cover.
‘If there is a market for cover, which there is, and the premiums are
attractive, which they could be, then other insurers will be attracted to what
should be a profitable and growing segment,’ said Winlow.
‘I have sympathy with credit insurers who are working to maintain stable and
‘However, increasing premiums and changing terms and conditions may be a
better alternative to pulling cover; perhaps applying the old adage that there
are no bad risks, just badly rated risks.’
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