Welcome to the July 2020 issue of Credit Insurance News Digest. This issue is sponsored by Markel.

Credit Insurance News
8 July: Huge rise in late payments as pandemic recession bites in the US, Mexico and Canada. New research from Atradius shows that late payments have soared in the USMCA region as businesses are squeezed by the impact of COVID-19. The latest Payment Practices Barometer reveals compromised cashflows and an increased reliance on bank finance, with late payments now affecting 43% (compared to 25% last year) of the total value of invoices issued in USMCA. Furthermore, the total value of invoices overdue past 90 days has doubled year on year to 13%, while 4% of the total value was written off as uncollectable, up from 3% a year ago. 40% of USMCA businesses are now using invoice payment delays as a form of short-term financing. Click here to read Atradius' news release.
8 July: Delays to the UK government's £10 billion trade credit insurance scheme create a real risk to supply chains. InfolinkGazette has advised that between the furlough scheme, CIBLS, bounce back loans and the forthcoming UK government's £10 billion trade credit insurance scheme, there are sufficient government stimulus measures in place to delay the day of reckoning, in terms of rising insolvencies, at least until October or November 2020. However, all of these measures are time-critical. Whether the trade credit insurance guarantee is being delayed by EU state aid objections, or for any other reason, InfolinkGazette's Managing Director, Greg Connell, stressed that: "the delay creates a very real risk to supply chains because businesses won't be able to get the cover they need." He predicts that, initially, this will hit the retail and hospitality sector hardest. To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6
2 July: European Commission objections delay UK trade credit rescue package. The Grocer has reported that the European Commission, in charge of giving final approval to the UK government's £10 billion trade credit underwriting plan, has unspecified issues with the scheme as it stands. A spokesperson for the Association of British Insurers' (ABI) told The Grocer: "We are very disappointed with the EU Commission's objections to certain elements of the UK scheme, which have caused delays." However, although the ABI notes that it is working with insurers and the government to work through issues to ensure businesses can get the cover they need, The Grocer notes that the delay has already led to trade credit insurers reducing or cancelling coverage for some food and drink wholesalers. To read The Grocer's article go to https://www.thegrocer.co.uk/finance/city-snapshot-european-commission-objections-delay-uk-trade-credit-rescue-package/645997.article?adredir=1.    
2 July: (Webcast) Marsh discusses the UK's trade credit insurance scheme. Marsh has published a webcast that provides an in-depth review of the UK government's trade credit insurance scheme and explains what it means for UK businesses. The webcast also examines the benefits of trade credit insurance and describes how policies can help reduce the risk of cashflow volatility. A Q&A at the end of the video responds to questions on limit reviews and reinstatements, current actions being taken by various insurers, and trade sectors most likely to benefit by the scheme. The speakers include Matthews Strong, CEO of Credit Specialties - UK & Ireland, Marsh JLT Specialty; Ian Watts, Practice Leader at Marsh UK; Steve Howells, Head of Major Accounts Trade Credit at Marsh. To watch the webcast go to https://www.youtube.com/watch?v=f6RY5xOCzT0.
1 July: Asia looks set to experience the worst recession since the Asian Financial Crisis. Coface has warned that it expects the Asia-Pacific region to contract sharply in 2020 (except for China and India), making the region set to see the worst recession since the Asian Financial Crisis of 1997-8. Coface predicts that the growth rate of Asia's economies will fall to 0.3% in 2020 (-0.65% excluding China), compared to the 2019 growth rate of 4.6%. GDP contraction is forecast to be most marked in Thailand (-5.0%), Hong Kong (-4.0%), Singapore (-3.5%), Japan (-3.0%), Malaysia (-2.0%) and Australia (-1.9%). Looking ahead, Coface forecasts that GDP growth will not rebound until 2021 when it will reach 6.2% (4.65% excluding China). To see Coface's news release go to https://www.coface.com/News-Publications/News/Asia-Corporate-Payment-Survey-2020-COVID-19-will-overturn-last-year-s-incipient-recovery.
1 July: European Commission approves €145 million Luxembourgish reinsurance scheme to support the trade credit insurance market. The European Commission has approved, under EU State aid rules, a Luxembourgish reinsurance scheme, with a total budget of €145 million, to ensure that trade credit insurance continues to be available to all companies. The scheme aims to avoid the need for buyers of goods or services in Luxembourg to pay in advance. To read the European Commission's news release go to https://ec.europa.eu/commission/presscorner/home/en.
1 July: Coface finalises the acquisition of GIEK Kredittforsikring AS. Coface has announced the closing of its acquisition of GIEK Kredittforsikring AS, a company owned by the Norwegian Ministry of Trade, Industry and Fisheries that manages a short-term export credit insurance portfolio. Coface has acquired all GIEK Kredittforsikring AS shares, and the business will operate under the brand name Coface GK. In 2019, GIEK Kredittforsikring AS recorded a total of around €9 million of gross written premiums. To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-finalises-the-acquisition-of-GIEK-Kredittforsikring-AS.  
30 June: Australian trade credit insurers re-evaluate insurance coverage amidst liquidity concerns. Asia Insurance Review has noted that a recent article in The Sydney Morning Herald reports that QBE intends to cancel all trade credit insurance cover for the Australian department stores Myer, and David Jones by 16 July. Although none of the four other major trade credit insurers in Australia - Atradius, The Bond and Credit Co, Coface, Euler Hermes - have taken QBE's approach of cancelling cover entirely according to brokers speaking to the local publications, they are said to be at different stages of reducing or reviewing cover for the two specific department stores as well the retail sector more broadly. To read Asia Insurance Review's article go to https://www.asiainsurancereview.com/News/View-NewsLetter-Article/id/62410/Type/eDaily/Australia-Insurers-re-evaluate-trade-insurance-coverage-amidst-liquidity-concerns.
30 June: The global economy is bracing for a recession. Atradius' latest Global Economic Outlook predicts that the impact of Coronavirus on economies around the world will result in the worst recession since 1980, with almost every country expected to experience negative growth in 2020. Atradius notes that advanced economies will feel the brunt, with a cumulative drop in GDP of 6.6%, with the UK, "already burdened by its exit from the European Union", looking at a 10.8% decline. The Eurozone will not fair much better, with a drop in GDP of 8.0%, and growth in emerging markets will also contract sharply. Atradius suggests that China may be the only major economy able to avoid recession this year. To read Atradius' news release go to https://group.atradius.com/press/press-releases/global-economy-bracing-for-recession.html.
30 June: (Webcast) CBI webcast stresses that trade credit insurance is critical. The CBI has produced a webinar in which a spokesperson comments that the CBI is hearing reports that trade credit insurance renewals are "very onerous right now", with prices going up and, in many cases, reduced cover. In consequence, the CBI notes that it welcomes the development of the UK government's trade credit insurance scheme and regards trade credit insurance as critical to enabling the "better flowing of finance" as UK firms take their staff off furlough and look to resume operations. The CBI's spokesperson also advises that the CBI has joined a three-month taskforce to see whether it could be possible to develop an insurance product to provide cashflow protection for SMEs in a future lockdown or pandemic scenario. To watch the webinar go to https://www.cbi.org.uk/articles/webinar-supporting-smes-impacted-by-coronavirus-29-06-20/.
29 June: Atradius warns businesses to be vigilant after seeing a rise in impersonation fraud during the Coronavirus pandemic. Atradius has cautioned businesses to be aware that impersonation fraud is increasing during the Coronavirus pandemic. This is when a fraudulent party presents themselves as representing a credit-worthy business and approaches other firms under the guise of looking for new suppliers, but after receiving goods quickly disappears - leaving invoices unpaid. According to Atradius, although impersonation fraud is particularly common for sectors trading perishable goods (such as fish and fruit and vegetables) which are difficult to trace, all sectors are seeing a rise in this type of fraud. Atradius advises that although impersonation fraud often isn’t covered under a credit insurance policy, working closely with an insurer can help mitigate the risks. Click here to read Atradius' news release.
26 June: (Webcast) Trade credit insurance strategies for private equity and portfolio companies. Members of Marsh’s Private Equity and M&A Practice, as well as guest speaker Dan North, Chief Economist at Euler Hermes North America, recently hosted a webcast which examined trade credit and liquidity strategies for private equity and portfolio companies. The discussion included an overview of trade credit insurance and how it can be used as a tool to increase sales and market share or in tandem with bank AR purchase facilities. The webcast also discussed the impact of COVID-19 on the US economy and described some client case studies with trade credit insurance-supported finance structures. To watch go to https://www.marsh.com/us/insights/research/trade-credit-and-liquidity-strategies-private-equity-companies.html.  
25 June: UKEF provided £4.4 billion in support for UK exporters 2019-2020. UK Export Finance (UKEF) has published its results for 2019 to 2020, revealing it provided £4.4 billion in support for UK exports, helping 339 UK companies (29% more than the previous year) trade with 69 countries. 77% of the companies UKEF supported were SMEs, and 88% of these were based outside London. To read UKEF's news release go to https://www.gov.uk/government/publications/uk-export-finance-performance-highlights-2019-to-2020.
24 June: US fashion groups turn to the Trump administration for a trade credit insurance backstop. Insurance Business has reported that a group of 22 US fashion trade organisations have called on the US federal government to create "an emergency, temporary federal commercial trade credit insurance backstop", to help both retailers and vendors during the pandemic. The letter notes that current available credit insurance capacity "now represents only a fraction of what was available just a few months ago," with the situation continuing to deteriorate. "This means that US jobs, including many US manufacturing jobs, supported by our supply chains are at risk." To read Insurance Business' article go to https://www.insurancebusinessmag.com/us/news/breaking-news/fashion-groups-turn-to-trump-administration-for-cover-226071.aspx.    
24 June: Chinese business insolvencies look set to increase by almost 30% in 2020. Atradius' latest country report on China notes that Chinese GDP contracted by 6.8% year-on-year in Q1 of 2020, and the cashflow of many Chinese businesses has come under pressure as sales sharply deteriorated. Furthermore, since large manufacturers across the country stopped operations in early 2020, this has caused significant disruptions to supply chains in China and elsewhere. Atradius now anticipates that Chinese business insolvencies will increase sharply in 2020 - by almost 30% - with small and medium-sized private businesses mainly affected. To read Atradius Country report go to https://group.atradius.com/publications/country-report-asia-china-2020
New country reports are also available for South Korea, India, and Indonesia.
23 June: Spain and Italy look set to be among the hardest hit by the pandemic. According to Coface's forecasts, although the current financial situation of companies in Spain and Italy is healthier than on the eve of the 2009 global financial crisis, both countries will be among the economies hardest hit by the Coronavirus pandemic, contracting by 12.8% and 13.6% respectively in 2020. Coface also predicts that corporate insolvencies will increase by 22% in Spain and 37% in Italy by 2021, relative to 2019 levels. The retail and construction sectors are particularly vulnerable. For 2021, Coface forecasts that Spain and Italy’s GDP will rebound by 10.2% and 8.9%, leaving the economies 3.9% and 5.9% below 2019 levels. To read Coface's news release go to https://www.coface.com/News-Publications/News/Are-corporate-balance-sheets-in-Spain-and-Italy-ready-for-the-COVID-19-shock.
23 June:  US CFOs are rethinking risk amid COVID-19. According to a new survey released by Euler Hermes Americas, 93% of US CFOs and their direct reports say their organisation has been impacted by COVID-19, with 40% reporting major cashflow disruptions, and 33% making significant changes to their business models. US CFOs now suggest that their top three concerns are workplace safety, supply chain disruption, and a lack of predictability around regulatory changes and fiscal stimulation. James Daly, CEO at Euler Hermes North America, commented: "In just a few months, we have seen business leaders restrict credit terms and slash expansion plans. This is why it is so important to consider risk mitigation strategies like trade credit insurance, which allows for growth even in times of crisis." To read Euler Hermes' news release go to https://www.eulerhermes.com/en_US/about-usa/media-coverage/cfos-rethinking-risk-amid-covid19.html.
20 June: QBE reduces trade credit insurance cover for suppliers of Australian major high street names. Insurance Business has reported that Australian department stores David Jones and Myer have been classified as 'higher risk' by QBE following the insurer's review of the retail industry. A recent article in The Sydney Morning Herald noted that QBE had advised the two retailers of a decision to reduce trade cover from mid-July on account of the department store sectors' risk profile amid the Coronavirus crisis. A Myer representative was cited as describing the coverage withdrawal as "disappointing". To read Insurance Business' article go to https://www.insurancebusinessmag.com/au/news/breaking-news/insurer-refuses-cover-for-suppliers-of-major-high-street-names-225734.aspx.
19 June: Euler Hermes casts doubts over the UK government's credit insurance support scheme. CRN reported that Euler Hermes has revealed that the UK government's credit insurance support package has hit a bump in the road. In a note sent to brokers and seen by CRN, Euler Hermes' UK CEO Milos Bogaerts said: "The negotiations between HMG (the government) and the European Commission are taking longer than planned and there are discussions that could impact the way the scheme is implemented operationally." He added: "Unfortunately, we need to pause the implementation of the scheme and we cannot reinstate cover just yet." To read CRN's article go to https://www.channelweb.co.uk/news/4016758/euler-hermes-casts-doubts-gov-credit-insurance-support-scheme.
19 June:  The Canadian government is encouraged to recognise the importance of trade credit insurance. Trade Finance Global has reported that the Canadian government "needs to recognise the importance of trade credit insurance offered by private insurers as an effective instrument for complementing economic relief measures aimed at preserving buyers’ ability to pay once trading resumes." The article notes that currently, only 3% of suitable businesses in North America buy trade credit insurance (compared to 15% in Western Europe). This is primarily due to a lack of product awareness and limited distribution channels, "with very few brokers on the ground due to “crowding out” by government export credit agencies." To read Trade Finance Global's article go to https://www.tradefinanceglobal.com/posts/why-should-canadian-smes-leverage-trade-credit-insurance-post-covid-19/.
18 June: Trade credit insurers are facing "probably the most difficult situation since they started business". AU Group latest AU G-Grade Q2 2020 notes that in the nearly six years since AU Group published its first G-Grade, it has never seen such a massive wave of country risk rating downgrades. With 29 countries downgraded by more than 0.5 points, "the severe consequences of the COVID 19 health crisis are laid bare". AU Group warns that this will lead to an unprecedented increase in corporate insolvencies, with the first significant bankruptcies already impacting sectors such as air transport, retail, event planning and the automotive industry.  As a result, AU Group suggests that "credit insurers are facing probably the most difficult situation since they started business." To read AU Group's news release and download the G-Grade go to https://www.au-group.com/au-g-grade-q2-2020/.
17 June:  UK Government is encouraged to require greater transparency from trade credit insurers. A new report from the Food and Drink Federation (FDF) has warned that businesses are continuing to find that trade credit insurers are "not adjusting their criteria to take into account the pandemic." The FDF notes that there have been reports by businesses in the sector of insurers seeking increases in premiums of up to 200%. It also cites an example of the complete withdrawal of existing trade credit insurance where no reasons were given. As a consequence, the FDF recommends that the UK Government should place a requirement on the trade credit insurance industry for greater transparency and formal notification of the reason(s) for refusal or withdrawal of cover. It also suggests that insurers should be required to reinstate reduced or withdrawn cover backdated to 1 March 2020, except where there are clear and identifiable reasons as to why this would no longer be appropriate. To read the FDF's report go to https://www.fdf.org.uk/publicgeneral/squeezed-middle-paper.pdf.
17 June: Post-Coronavirus, trade credit insurance will be more vital than ever. Nimbla has warned that not only are late payments and defaults more likely after lockdown, but due to the new temporary legislation, insolvencies will not be apparent until much later than usual. In this environment, Nimbla stresses that trade credit insurance is vital and  welcomes the UK government's trade credit insurance scheme. Furthermore, unlike government loans, Nimbla notes that there will be no barriers to accessing the scheme. To read Nimbla's news release go to https://www.nimbla.com/blog/the-government-trade-credit-insurance-scheme-what-does-it-mean-for-your-business.
16 June: Coface predicts a sharp and substantial rise in European corporate insolvencies. Coface's latest press release warns that the economic consequences of the COVID-19 pandemic are of unprecedented scale in Europe. In most European countries, Coface predicts that corporate insolvencies will rise in the second half of 2020 and during 2021, with the most substantial increases expected to occur in the UK (+37%), Italy (+37%), the Netherlands (+36%), France (+21%), and Spain (+22%). Germany, the least penalised country, is still expected to record a 12% increase in insolvencies between end-2019 and end-2021. To read Coface's news release go to https://cofaceitfirst.com/resources/focus-corporate-insolvencies-in-europe.
11 June: GAD helps develop support for the UK trade credit insurance sector. The UK Government Actuary's Department (GAD) has explained how it played a central role in developing new measures to support the credit insurance market. Actuary Jacqui Draper said: "Our modelling meant that policymakers could explore costs under various scenarios to better understand the potential implications of different scheme structures. Policymakers then used these models during their negotiations with the insurance industry to estimate the potential implications on government finances. This means the scheme ensures firms are supported with risk, which is shared appropriately between the government and insurers." To read Gov.uk's news release go to https://www.gov.uk/government/news/gad-helps-develop-support-for-the-trade-credit-insurance-sector.
11 June: COVID 19: European governments have moved swiftly to protect the availability of trade credit insurance. A new report by DBRS Morningstar anticipates that the actions taken by various governments in Europe (Belgium, Denmark, France, Germany, Netherlands and the UK are examined) will ensure the continued availability of trade credit insurance. The report notes that the global credit insurance market was estimated to be about US$8.64 billion in 2017 and predicts that the market will continue to grow at a compound annual growth rate of 2.9% to reach US$10.77 billion by 2025. To read the report go to https://www.dbrsmorningstar.com/research/362324/covid-19-european-governments-have-moved-swiftly-to-protect-availability-of-trade-credit-insurance.
Congratulations to  . . .
, which has marked its 95th anniversary. On 3 July 1925, NCM was founded in the Netherlands - the first of many local and international businesses that eventually became part of what is now Atradius.
W Denis Credit Risks Ltd, which has extended its long-standing corporate partnership with Forums International, the credit management forum organisation, to include the IT Distributors & Resellers Credit Forum. As Corporate Partners, W Denis will also be sharing knowledge and expertise at forthcoming events and coffee break calls.
Job Vacancies
Regional Head of Insurance APAC. Singapore
LiquidX Overview:
LiquidX is a leading global financial technology company which enables corporate finance professionals to transact faster, smarter and cheaper by digitizing their treasury management and working capital functions. Headquartered in New York with offices in Boston, London, and Singapore, LiquidX delivers the industry-leading ecosystem for corporate assets to its diverse network of global participants including multinational corporations, banks, institutional investors, and insurance providers. LiquidX incorporates blockchain technology and machine learning analytics to greatly enhance transparency, reporting, and financial forecasting for financial professionals.
We are growing and looking for good people who want to help us take the next step and interested in taking their career to the next level.

Role Description:
We are looking to hire an experienced trade finance professional to join our leadership team in APAC to launch our Insurance offerings in the region. The successful candidate will also manage our liquidity solutions team and work closely with the executive team to develop and execute a strategy to expand the LiquidX Insurance footprint in the Asia-Pacific market. The candidate will report to the Global Head of Insurance Sales and Business Development.

  • Launch and develop LiquidX’s trade credit insurance offering and presence in Asia-Pacific
  • Build and maintain strong and trusting relationships with market participants within region and globally
  • Keep current on LiquidX products and how the value proposition compares to competitors to deliver key feedback to the product development team
  • Guide prospects and clients through the entire sales and account management cycle, from initial contact, to onboarding, to binding of policies and policy servicing
  • Represent company as thought leader and expert in trade credit insurance by actively participating in conferences and other local industry networking events
  • Participate in strategic projects, RFP’s and new business opportunities outside of insurance scope
  • Attract, build and motivate/retain team of high potential employees

Desired Skills and Experience:
  • Player/Coach mentality; position requires management responsibilities as well as individual contribution of production, etc.
  • Strategic thinker that who can identify opportunities for new products and wants to get intimately involved in building a growing business • Superior presentation, communication and negotiation skills
  • Capacity to work autonomously, define priorities and achieve results in fluid situations in order to effectively respond to evolving circumstances in real-time
  • Independently manage a book of business to build and maintain long-term relationships with clients, identifying needs and managing expectations
  • Ability to navigate complex corporate relationships and manage multiple time sensitive workstreams
  • Understanding of Profit & Loss dynamics and how they affect corporate the decision-making process 
  • 10+ years’ experience in trade credit insurance, trade finance and receivable discounting/factoring in a market facing role with demonstrated achievement in production, relationship and account management & client service.
To apply for this role, please email your CV and covering letter to Todd Lynady (tlynady@liquidx.com).

Regional Manager South - Commercial UK & Ireland.
About Atradius
The Atradius Group provides trade credit insurance, surety and collections services worldwide, and has a presence through 160 offices in 45 countries. Atradius has access to credit information on 100 million companies worldwide and makes more than 20,000 trade credit limit decisions daily. Its products help protect companies throughout the world from payment risks associated with selling products and services on credit.

Job Description
An exciting opportunity has arisen for a Regional Manager in our Commercial UK & Ireland Unit in London. Reporting to the Head of Commercial, the role provides the opportunity to strategically manage the regional portfolio for sales and servicing in line with agreed targets, and across a portfolio of national and independent brokers based in the area.

Job Requirements
This vacancy is open to all candidates with a proven record at senior management level or as a development opportunity based on experience. The successful candidate will have an excellent command of strategic business processes and first class organisational abilities.
The role demands expertise in setting the agenda and leading negotiations at a senior level with our distribution partners, both with existing and potential clients at MD or FD level and with our Atradius colleagues. Due to this it is essential that the successful candidate has highly developed interpersonal and presentational skills, together with a confident and persuasive manner.
The successful candidate will also have a proven record in developing relationships with high profile companies and dealing with the top decision makers. The ability to prioritise and achieve deadlines and work well under pressure, whilst remaining highly driven, will also be a key strength.
Using your entrepreneurial and leadership skills, you will be managing, leading, inspiring and motivating the sales and servicing teams whilst maintaining key customer and broker relationships. In addition to this, you will have the opportunity to develop and implement challenging commercial plans for the Region.
The successful candidate will be eligible to work in the UK.

Essential Skills
Our growth will only come through providing a ‘best in class’ service to both our customers and broker network. It is therefore essential that the successful candidate has the following:
  • A first class commercial background in a ‘business to business’ environment
  • Proven staff Managerial skills - Proven sales management and leadership skills
  • Strong relationship management and negotiation skills
  • The right attitude, commitment and drive to achieve targets.
Please send your CV and covering letter to Leah Davies - leah.davies@atradius.com.

Economic Research Analyst, London
The Berne Union – International Union of Credit and Investment Insurers – is the leading international trade association for the export credit and investment insurance industry. Founded in 1934, its membership includes private credit insurers, investment insurers, multilateral institutions and export credit agencies worldwide. The Berne Union provides a unique forum to connect and exchange business experiences for its 85 member organisations. These members support international trade and foreign direct investment by providing risk mitigation products to exporters, investors and banks.
The Economic Research Analyst is a member of the Secretariat team. This is a new position, with the aim to strengthen our research-based industry output for members and other stakeholders. His/her responsibilities include the analysis and research of our members’ business data, collection of relevant external data sources, develop a pipeline and write research publications of interest to our membership and stakeholders in the wider export and trade finance industry.

Key Roles and Responsibilities:

  • Formulate research questions based on members’ business data and your own knowledge of the (credit insurance) market, and develop a rolling pipeline of research projects.
  • Collect other global economic and trade data to enrich our members’ data.
  • Analyse members’ data and economic and trade data for the purpose of reporting and presentations on credit risk, trade flows and developments by region, by sector and/or by business line.
  • Write research papers and other publications based on your analysis combined with your own economic and industry knowledge.
  • Support team members with data analysis for presentations to members and other stakeholders.
Skills and competences:
  • BA or MA in economics, international finance or equivalent.
  • A minimum of two years’ experience with research and data analysis in one or more of the following areas: international trade, export finance, credit insurance, political risk.
  • At least a basic understanding of credit insurance and/or investment insurance.
  • Excellent knowledge of Microsoft Office programmes: Excel, PowerPoint. Very good knowledge of Power Bi and/or other business analytics/data visualisation platforms. Familiarity with main principles of SQL syntax (i.e. ability to write queries in order to retrieve data) and relational databases.
  • Knowledge of other Microsoft products such as Access and Azure is an advantage.
  • Self-motivation and commitment to upgrade personal knowledge and research solutions and tools in a small environment.
  • Partnership and communication skills.
  • Ability to lead data-based discussions to an audience with a wide variety of expertise.
  • Capable of leading and executing multiple projects simultaneously.
  • Flexible work attitude, also for tasks beyond his/her own responsibilities.
  • Demonstrated ability to work independently and as part of a team.
  • Right to work in the UK and ability to travel.
The work environment is built around a small and busy professional team. The Economic Research Analyst is initially coached by a senior member of the team and reports to the Secretary General.
Applicants will have the flexibility to apply their skills to a broad range of tasks in support of the overall output of the Secretariat. Critically, applicants have a demonstrated agility and ability to learn and work in a new environment and have shown a commitment to team-work also beyond their own responsibilities. To apply for this position sending a CV and covering letter via email to Berne Union Secretary General, Vinco David (vdavid@berneunion.org). The closing date for applications is 14 August.
New Appointments
International Risks Insurance Advisers (Iria) has announced that it has hired Mark Schulz as an Executive Director. Mr Schulz is responsible for growing Iria's single-risk political risk and credit business in German-speaking Switzerland. He joins from Euler Hermes Switzerland, where he was Director of Risk, Claims & Collections and Member of the Executive Board.
Euler Hermes has appointed Andrew Hodson as its Director of Risk, Information, Claims and Collections (RICC) of Euler Hermes UK & Ireland. Mr Hodson most recently headed up Euler Hermes group risk steering and strategy, based in Paris. He succeeds Kris Macauley, who has taken up the role of RICC director for Northern Europe and will relocate to London.
LiquidX has announced that it appointed Todd Lynady as Managing Director and Global Head of Insurance Sales and Business Development. In this newly created role, Mr. Lynady will be responsible for leading the firm’s sales, origination and business development strategy for LiquidX’s trade credit insurance digital marketplace globally. Mr Lynady was formerly Head of Broker Management for the Americas for Euler Hermes. He will be based in New York.
Euler Hermes has announced that Mez Patel has been promoted to Regional Sales & Marketing Director (UK & Ireland) - EH World Agency – effective from 1 June. Mr Patel has been with EH for nearly 13 years, having joined as a Graduate Management Trainee in 2007. His most recent role was New Business Manager (Major & Strategic). Mr Patel will continue to be based in Canary Wharf.
GTR Asia 2020, 8-9 September 2020. Singapore.
GTR Asia will return to Singapore from September 8-9 to host over 1,300 decision-makers and leaders from the global trade, export and fintech community. A leading global financial hub and home to a dynamic and thriving financial ecosystem, Singapore provides the perfect backdrop to explore the future of international trade and investment. 
Offering a truly global perspective and tackling issues with a forward-looking outlook, GTR aim to create events for those passionate about issues that define the trade finance world. Hosted for over a decade, GTR Asia is recognised as the world’s largest international gathering for local and international organisations: from banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and many more. 
Attendees will gain valuable business contacts and learn from the leading figures in the industry; Hear fresh and challenging perspectives from over 100 of the world’s leading trade, treasury and fintech experts; Enjoy innovative content designed to foster maximum engagement between speakers and delegates, bringing all parties involved in Asian trade together for a two-day focused conference and networking exhibition. 
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Commodities Trading Forum, 16 September 2020. Geneva.
Building on the success of 2019’s inaugural Geneva event and reflecting increased collaboration and partnership with the Swiss Trading & Shipping Association (STSA), GTR is delighted to announce that its newly expanded Commodities Trading Forum will be taking place at the Intercontinental Hotel Geneva on September 16, 2020. Co-hosted and held in partnership with both the STSA and PwC, and reflecting on Switzerland’s role as one for the world’s leading hubs for commodities from oil and gas to metals and agribusiness products, the conference will provide a comprehensive overview of the global commodities and commodity finance markets. Attendees will benefit from critical market insight and idea-sharing through a series of interactive and informative session formats, whilst unchallenged networking opportunities will provide access to over 200 different companies involved in the financing of global commodities. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
 TXF Global 2020: Export, Agency & Project Finance, 29-30 September. Madrid.
The global export, agency & project finance games return for 2020! Join TXF on 28-29 September in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.
With the CEOs of EKF, MIGA, US EXIM and more already in training for the Olympic games, along with 1000 of the industry’s key players, quite simply, this is the event you cannot afford to miss.
Packing the mightiest of punches, TXF Global will again combine keynote addresses from CEOs and state ministers outlining the future of industry, sustainability and digitisation, as well as infrastructure and project roadmaps. Mixed with detailed technical workshops, lively debate forums and regional roundtables TXF Global allows for an intimate networking environment like no other.
As a Credit Insurance News member, get an exclusive 15% off the standard ticket price using code: LETTHEGAMESBEGIN on the booking page.
Visit the website to find out more.
Digital Credit Management Conference, 1 October 2020.
We cordially invite you to our SCHUMANN Conference 2020. We look forward to meeting you and bringing you together with other experts, partners and current topics relating to credit risk management and insurance solutions.
This year everything is different. Everyone is having to do things in new ways and we are happy to take on this challenge. This year's SCHUMANN Conference will be a virtual conference, a digital meet & greet. But some things will remain the same: the virtual conference will offer valuable information and fascinating ideas. Divided into tracks, the following themes will be discussed online in panel discussions, talks and webinars:
  • Risk evaluation in times of the current crisis,
  • Receivables management & liquidity planning, 
  • Technology & Innovation, 
  • Compliance.
Our conference will provide you with the decisive information advantage to continue to master the crisis safely. Make your business secure for the long term!
Registration is free of charge.
To view the agenda and register please follow this link: https://www.prof-schumann.com/company/schumann- conference.
If you need any further information please contact Theresa Müller-Buchmann (t.mueller-buchmann@prof- schumann.de).
GTR East Africa 2020, 1-2 October. Nairobi. 
GTR East Africa marks its 11th annual conference in Nairobi, Kenya in October 2020, where a cutting edge agenda will explore the key macroeconomic, geopolitical, financial market and tech trends shaping the East African trade finance landscape. This two-day conference provides GTR attendees with a unique opportunity to network with over 350 delegates all under one roof.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR US 2020, 28 October 2020. Chicago.  
GTR US 2020 will return to Chicago for its fourth year, where US companies and their financing partners will meet to discuss the evolution of the trade, supply chain and working capital space. Featuring a host of expert speakers, the event will provide the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling those tasked with facilitating US commerce to form resilient, agile trade financing and risk management strategies. With leading corporates, banks, financiers, insurers and digitization specialists in attendance, this event is not to be missed for those looking to create crucial industry contacts and optimize their trade business. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR UK 2020. 2 November. London.
GTR UK 2020 will take place in London in November bringing the trade community together to discuss the potential implications for corporates, financiers and policymakers alike. The event will also consider the important role that all stakeholders have to play in promoting British businesses abroad and seizing on the huge opportunities to secure the UK’s future prosperity, with a strong focus on the role of the financial services community and the UK government in developing a global network to support trading companies. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Nordics 2020, 12 November 2020. Stockholm.
After many consecutive years of attendance growth we are delighted to announce that GTR Nordics 2020 will take place on November 12, moving to the larger event space at the Radisson Blu Waterfront, Stockholm. While offering a more comfortable space to mingle, this also provides the opportunity to add some exciting new event features. GTR Nordics 2020 promises to be the biggest and best yet: Watch this space for more details as we move towards the conference date! Last year GTR Nordics returned to Stockholm and welcomed another record-breaking audience of over 500 trade finance experts, insurers, bankers, ECAs, technology innovators and corporates of all sizes. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Professional Training
New Stecis’ courses in Trade Credit Insurance and Surety.
End of September – start of October 2020.
After having cancelled all April courses in 2020, Stecis’ pics up the pieces again end of September. All classroom courses in various levels of Credit Insurance and Surety are led by professionals from the industry. The courses are meant for starting and experienced professionals who are working in the Trade Credit Insurance and Surety industry and for all other interested parties like reinsurers, brokers and lawyers. There are courses on offer that will cater for the level of knowledge you are looking. Also it is a perfect way to enhance your network within the industry. So please check the course descriptions and course dates on our website www.stecis.org – where you are able to register for the Stecis’ courses.
About the Sponsor: Markel
Credit is vital to the commercial world. Markel’s global solutions promote trade by ensuring that buyers and sellers can do business with confidence. We offer a wealth of experience in trade credit, political risk and surety covers, to control counterparty payment default, expropriation, confiscation and performance risks. 
Markel's team offers expert knowledge of commercial counterparty and sovereign covers across a wide spectrum of trade sectors. The key benefits for clients include security of non-cancellable credit and country limits, balance sheet and cash flow protection, improved terms for bank financing facilities, effective alternatives to letters of credit or other types of collateral, reduced need for bad debt reserves, fulfilment of capital adequacy requirements, increased potential for sales growth and security of performance obligations - all because the risks are hedged and secured on a firm foundation. 
The team has extensive experience of providing global solutions for clients, but can also tailor policies for specific credit risks, markets and contingencies. As a result of the complexity of our clients’ risks spanning political, cultural, legal and social differences, it is crucial to choose an insurer who understands all of the facets of international and domestic trade, combined with a detailed understanding of available solutions across a variety of contexts and geographies.
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