Trade credit insurance broker is rebranded
A MAJOR trade credit insurance broker has announced a rebrand.
Trade Credit Brokers, led by Nigel Birney in Northern Ireland, is now Willis Towers Watson Trade Credit and Surety.
Willis Towers Watson represents companies across a range of trade sectors, brokering over two-thirds of the credit insurance business across Ireland.
Here, its trade credit clients insure over £1.5bn worth of sales per year.
Trade credit insurance provides protection for businesses against the impact of bad debt, which can be caused by a failure of customers to pay for goods or services sold on credit.
It has become more prominent after the high-profile collapses of Carillion and House of Fraser, who left their supply chains exposed to hundreds of millions of pounds of unsecured debt.
Mr Birney, head of trade credit and political risk at Willis Towers Watson, said: “At a time when the future of business appears to be unpredictable, Willis Towers Watson can help businesses to proactively manage this unpredictability.”
And any business could be affected, he said.
“No one is immune, no matter how safe they may seem. The added uncertainty and upheaval of Brexit means that businesses are now in a position where they do not know what maybe thrust upon them,” he added.
“It is a time for businesses to be as protected and prepared as possible.”