Welcome to the July 2022 issue of Credit Insurance News Digest. This issue is sponsored by STA International.

Credit Insurance News
Estimating the value of trade credit insurance to the world. The International Credit Insurance and Surety Association (ICISA) has published an article noting that, although the logic for credit insurance as an important (if often underappreciated) economic tool is clear, finding good data to demonstrate that in the real world is not always straightforward. However, ICISA has now gathered data from publicly available sources (World Bank, annual reports of credit insurers, publications from other associations) and combined this with data collected directly by the ICISA, other associations, market participants, and others to calculate some industry figures for 2020. The results include ICISA's key finding that 14.52% of World Trade in 2020 was protected by trade credit insurance, €6.35 trillion of shipments were insured, and this generated €12.07 billion of total global credit insurance premium. To read the ICISA's news release go to https://icisa.org/news/estimating-the-value-of-trade-credit-insurance-to-the-world/.
The trade credit insurance market saw strong growth in 2021. AU Group's 2022 issue of its annual Credit Insurance Market Survey reports that after the pandemic year in 2020, when insurers saw their business shrink, the arsenal of measures put in place by governments has positively impacted the turnover of trade credit insurers. The "big three" (which, in 2021, represented more than 70% of the total market) have delivered solid performances with historically strong growth (between 7% and 8%, according to AU Group's calculations) combined with a historically low level of claims. AU Group notes that as of 31 December 2021, Allianz Trade was the largest credit insurer with 31% market share, followed by Atradius with 24% and Coface with 16%. Atradius delivered the best growth in the industry, +8.7% versus 2020, exceeding pre-pandemic results and recording the highest turnover in its history. To download a copy of the report go to https://www.au-group.com/etudes/credit-insurance-market-survey-2022/.
Analysis: The risks, rewards and misconceptions around credit insurance. GTR (Global Trade Review) published an article in which Baldev Bhinder, Managing Partner of Singapore-based law firm Blackstone & Gold, discusses the lessons that can be learned following the collapse of Greensill and describes what policyholders can do to minimise the risk of a trade credit insurer withdrawing or cancelling cover. Baldev notes that his company has noticed a fair amount of misunderstanding about how credit insurance works, "where right from the outset a standard credit insurance policy is misconceived as something akin to a financial guarantee." To read GTR's article go to https://www.gtreview.com/news/global/analysis-the-risks-rewards-and-misconceptions-around-credit-insurance/.
AO World's shares fall as Atradius pulls credit cover for suppliers. On 5 July, Insurance Insider published an article noting that the shares of online electrical-goods retailer, AO World, had fallen by 14% since 1 July, when The Sunday Times reported that Atradius had cut cover for the firm's suppliers. This followed AO World's announcement last month that it would shut its business in Germany as its prospects in the country were deteriorating. To read Insurance Insider's article go to https://www.insuranceinsider.com/article/2abgkjmijnmfn9xsnshs0/reinsurers-section/ao-worlds-shares-fall-as-atradius-pulls-credit-cover-for-suppliers. (A subscription may be required).
What is credit insurance, and why does it matter for retail shares like AO World? Proactive Investors has published an article that examines why the tightening of credit insurance spells bad news for the retail sector "already grappling amidst the cost-of-living crisis." Julie Palmer, Partner at Begbies Traynor, comments on a recent example — the collapse of Toys R Us in 2017 — which highlights the impact that reductions to or loss of trade credit insurance cover can have. She suggests that it's understandable that The Sunday Times' recent report that AO World has had its credit insurance cover cut "sent jitters" across the entire retail sector." In addition, she notes that, for some businesses, it is getting to a stage where the insurance premiums may become far too large. To read Proactive Investors' article go to https://www.proactiveinvestors.co.uk/companies/news/986617/what-is-credit-insurance-and-why-it-matters-for-retail-shares-like-ao-world-986617.html.
Two and Allianz Trade partner to develop the 'b-commerce' market. Trade Finance Global (TFG) has reported that Two, a B2B e-commerce payments platform, and Allianz Trade have formed a partnership, which combines Allianz Trade's experience in trade credit insurance with Two's B2B BNPL technology to grow the 'buy now pay later' finance market. Stavros Tamvakakis, a cofounder at Two, commented: "As part of their partnership, Allianz Trade assesses credit requests through its API (application programming interface), which integrates both companies' respective internal e-commerce and underwriting systems, helping Two to make financing decisions on the spot." He notes that thanks to the partnership, merchants get conversion rates of up to 40% on B2B purchases, instant credit decisions, approval rates of over 90%, and buyer credit limits of £100,000." To read TFG's article go to https://www.tradefinanceglobal.com/wire/two-and-allianz-trade-partner-to-develop-b-commerce-market/.
Closely held cards for CPRI. TXF has published an article that examines the current Credit and Political Risk Insurance (CPRI) market and notes that underwriters are tightening their risk appetite, with several providers that have limited or gone off cover for Belarus, Ukraine, and Russia. In addition, a recent Berne Union report notes that claims ticked up (albeit to a limited degree) in Q1 2022, mostly related to exposure in Belarus, Ukraine, and Russia, and there is an expectation that claims paid will rise in Q2. Both the war and the phase-out of [COVID-19 state] support schemes are the main drivers. An unnamed European trade credit insurer told TXF, "Everyone is keeping their cards close to their chest regarding the Russia/Ukraine impact." Nonetheless, there are bright spots for the private CPRI market. Sian Aspinall, Managing Director at BPL, commented: "The market is writing new business and enquiry levels are where they were pre-pandemic." To read TXF's article go to https://www.txfnews.com/articles/7397/Closely-held-cards-for-CPRI.
Downside risks of a recession are building up fast. A new Economic and Market Outlook by Allianz Trade forecasts global GDP growth of +2.9% this year and +2.5% in 2023, down by -0.4% and -0.3% compared to its last forecast in March. The revision is due to the impact of the war in Ukraine and the longer-than-expected lockdowns in China, which Allianz Trade anticipates will reduce output by -1.2% and -0.6%in 2022 and 2023 respectively. Although Allianz Trade warns that a soft landing remains its baseline scenario for 2022, it notes that downside risks of a recession are building up fast. In an alternative adverse scenario, this could mean that global GDP growth would contract by -2.8% in 2023 to -0.3%, with a recession of -1.4% in the US and -2.5% in the Eurozone and the UK. To read Allianz Trade's executive summary, with links to the full report and presentation, go to https://www.allianz-trade.com/en_global/news-insights/economic-insights/global-economic-outlook-make-or-break.html.
Global growth is predicted to decrease to 3.1% in 2022. Atradius' latest Economic Outlook warns that disruptions from the war in Ukraine, lingering lockdown restrictions and multi-decade high inflation have generated a new set of adverse shocks for the global economy. Despite global GDP recovering to 5.9% in 2021, Atradius now expects growth to decrease to 3.1% in 2022 and to 3.0% in 2023. GDP growth in advanced economies is expected to slow to 2.7% in 2022 and 2.1% in 2023, while GDP growth in emerging market economies is forecast to be nearly halved in 2022 to 3.5% (down from 6.9% in 2021). Atradius notes that the continuation and escalation of the war in Ukraine is the key risk to its outlook, potentially leading to 1.7% lower GDP growth by the end of 2022. All regions would be impacted by shortages, higher commodity prices, and political instability, with Europe and especially Eastern Europe the most impacted. To read Atradius' news release go to https://group.atradius.com/publications/economic-research/economic-outlook-july-2022.html.
International debt collection: Where is the most challenging place to collect debts? Allianz Trade has published the third edition of its Collection Complexity Score and found that Sweden, Germany and Finland are the three best countries to recover international debt in the world. In contrast, Saudi Arabia, Malaysia and the United Arab Emirates are still lagging behind when it comes to making it easier for (foreign) companies to recover their dues. For example, international debt collection is almost three times more complex in Saudi Arabia than in Sweden. Overall, Europe takes the lead, with Allianz Trade finding that European countries account for the top 10 easiest places in which to collect debts. To read Allianz Trade's news release with a link to the full report go to https://www.allianz-trade.com/en_global/news-insights/news/collection-complexity-score.html.
Greenlight Re and Nimbla combine to launch a flexible single risk product through Lloyds of London. Greenlight Re and Nimbla Limited have announced a partnership to deliver significant single limit capacity to the B2B market through Lloyds of London. Although Nimbla has offered a single invoice product for some time, it is now able to provide larger, single limits and has widened its export markets to include Asia and the US. Elizabeth Jenkin, CEO at Nimbla, commented:' "It is very exciting times for Nimbla and partnerships like Greenlight Re are essential to continue to meet the needs and demands of the modern-day insurance buyer." Click here to read Nimbla's press release
The world economy is at a crossroads. Coface's latest Economic Publication has reported that the war in Ukraine has already upset the global geo-economic balance and heightened the risk of a hard landing for the world economy. In this complex environment, Coface has revised downwards its evaluation of nineteen countries, including sixteen in Europe (Germany, Spain, France and the UK in particular), and made only two revisions upwards (Brazil and Angola). At the sectoral level, the number of downward revisions (seventy-six in total, as opposed to nine upward revisions) highlights the spread of these successive shocks across all sectors. Coface notes that as the horizon continues to darken, the risks are naturally bearish and no scenario can be ruled out. To read Coface's news release with a link to the full report go to https://www.coface.com/News-Publications/News/A-recession-to-avoid-stagflation-The-world-economy-at-a-crossroads.
Asia: concern over an upward trend of bad debt write-offs. The 2022 edition of the Atradius Payment Practices Barometer for Asia indicates that late or non-payment from B2B customers is a concern for many businesses across Asia. Late payment affects half of the total value of the B2B invoices issued by companies, with 7% written off as uncollectable (up 60% from Atradius' survey in 2021). Atradius notes that this has become "a major headache" for businesses in Asia, chiefly due to the spiralling cost of chasing unpaid B2B trade debts. The "alarming levels" of bad debts written off as uncollectable also represent a serious liquidity strain for businesses. However, trading on credit with B2B customers remains a widespread business practice in Asia, with 20% more companies than in Atradius' last survey more willing to agree trade credit requests. To read Atradius' news release with a link to the full report go to https://group.atradius.com/publications/payment-practices-barometer/asia-concern-over-upward-trend-of-bad-debt-write-offs.html.
Days-Sales-Outstanding worries in the US prompt strategic credit management. Atradius' latest Payment Practices Barometer for the US has found that Days-Sales-Outstanding (DSO) has worsened for one-third of companies polled across all US industries. However, as the response of many companies was also to devote more resources, manpower and costs to the issue, the outcome was a slight fall in the level of bad debts written off as uncollectable. Atradius also found that 35% of companies it polled in the US advised that they had opted to manage customer credit risk in-house during the past months, while the remaining ones either outsourced the issue to a credit insurer or purchased specific trade finance solutions. Looking ahead, Atradius found that companies in the US expected an improvement in B2B payment practices and a strong expansion in trading on credit in the future. To read Atradius' news release go to https://group.atradius.com/publications/payment-practices-barometer/us-DSO-worries-prompt-strategic-credit-management.html.
Companies in Asia Pacific face rising credit risks despite shorter payment delays. Coface's 2022 Asia Corporate Payment Survey has reported that improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific, dropping from 68 days on average in 2020 to 54 days in 2021 — the lowest level in five years. Among the nine economies covered, payment delays shortened the most in Malaysia and Singapore. By contrast, China was the only country that recorded a rise. However, the survey also highlighted some concerns; the share of respondents noting an increase in the amount overdue increased to 35% in 2021 (31% in 2020), and there was a rise (especially in China) in the number of companies reporting ultra-long payment delays of more than 10% of annual turnover. To read Coface's news release with a link to the report go to https://www.coface.com/News-Publications/News/Asia-Pacific-companies-face-rising-credit-risks-despite-shorter-payment-delays.
Tryg Garanti is starting activities in the UK. Tryg Garanti, a leading Nordic provider of surety bonds, has advised Credit Insurance News Digest that it is starting activities in the UK. Tryg Garanti supports local and international clients in main European markets and is currently present in the Nordic countries, Austria, Belgium, Germany, the Netherlands and Switzerland. It also provides trade credit insurance to Nordic clients. Subject to licenses, the UK surety business aims to be fully operational in January 2023 with the scope to offer bonds for all client types, from SMEs to multinationals. Terry Salmon will lead the UK office (see 'New Appointments') below. Tryg Garanti is part of the 'A1' Moody's rated, major Scandinavian general insurer Tryg (€3 billion turnover, 7,000 staff, and a history that dates back almost 300 years) with headquarters in Denmark For more information go to www.tryggaranti.com.
Xenia warns that insolvencies are set to rise. A new article by Roberto Simone, Risk Development Executive at Xenia, warns that rising insolvency figures "could just be the beginning of something far worse and a disquieting trend that will ripple throughout markets and industries" and provides an overview of some of the warning signs of possible insolvency. He notes that in addition to factors such as significant bad debts and ageing debtor ledger, CCJ's, Statutory Demands or Writs registered against the Company and lengthening Days-Payable-Outstanding, key signs to look out for can include overtrading "demonstrating lack of capital to pursue growth strategy and driven by declining profit margins", high staff turnover and delays in producing and providing financial information when requested. To read Xenia's news release go to https://xeniabroking.com/news-and-insights/xenia-xtra-series-insolvencies-are-set-to-rise-particularly-as-interest-rates-climb-so-act-with-extra-vigilance.
Q&A: Sarah Murrow, Allianz Trade. Insurance Post has published an interview in which Allianz Trade UK & Ireland's CEO, Sarah Murrow, speaks to Post about her first year at the helm, dropping the Euler Hermes name, and the role that credit insurance can play as a post-COVID-19 growth tool. Sarah notes that after seeing relatively low levels of insolvency across the UK, the tide is turning. Allianz Trade now anticipates a 37% year-on-year increase in insolvencies in 2022 and a 4% increase in 2023. She also advises that Allianz Trade's priority for the next few years will be to continue to expand the use of credit insurance across the UK, as well as digitise interactions with customers on a day-to-day basis. In addition, Allianz Trade wants to expand its specialty lines of business, which include excess of loss and surety. To read Insurance Post's article go to https://www.postonline.co.uk/commercial/7948716/qa-sarah-murrow-allianz-trade.
Podcast: Syndication in the Trade Credit Insurance Market. BPL Global has published a new podcast in its Pulse series, in which Jonny Carruthers, Director of BPL Global, speaks to Simon Philpin, Senior Underwriter and Global Head of Business Development (Trade Credit Division) at Markel, about Syndication in the Trade Credit Insurance Market. Simon comments: "If the insured is looking to finance their receivables, the more cover they have in place, the more they're able to finance. So it's quite critical, sometimes from a CFO's point of view, if they are able to get a higher capacity in place close to the maximum of 100%." To listen to the podcast go to https://www.youtube.com/watch?v=mmFOAorjE2o.
Podcast: Future-proofing trade finance and insurance through technology. Trade Finance Global (TFG) has published a podcast in which Sophie Riottot, Chief Revenue Officer at Tinubu, discusses the critical role credit insurance and surety plays within trade and export finance and describes the role of artificial intelligence and distributed ledger technologies in future-proofing the industry. Sophie suggests that whether some of the new, untested technologies succeed depends largely on whether the entire financial ecosystem evolves sufficiently to integrate them. To this end, Sophie notes that, through their R&D innovation lab, Tinubu is focusing on how to find ways to get companies to exchange information with each other more efficiently, even if they operate on different systems. To listen to TFG's podcast go to https://www.tradefinanceglobal.com/posts/podcast-s1-e88-future-proofing-trade-finance-and-insurance-through-technology/.
Coface and Doha Insurance Group enter a strategic partnership in credit insurance. Coface and Doha Insurance Group, one of the five major insurers in Qatar and the third-largest by gross written premiums, have announced that they have signed a strategic partnership to provide credit insurance products to Qatari companies and help strengthen their growth in their domestically and export markets. "We are pleased by this new partnership with Doha Insurance Group", said Hassen Bennour, CEO of Coface for Middle East & Southern Africa. "Strengthening our set-up in the Qatari market along with a recognised local player is a significant milestone in the expansion of Coface in the region." To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-and-Doha-Insurance-Group-enter-a-strategic-partnership-in-credit-insurance.
Q&A with Xenia's Account Broker, Katie Wright. Xenia Broking Group has published a Q&A in which Xenia's Account Broker, Katie Wright, describes her role at Xenia, her typical day, her route into the industry, what she enjoys most about her job and the most commonly asked question in her job role. Katie comments that she used to compete as a trampolinist — and even came close to becoming an Olympian, but her dream job — if she were not in the trade credit insurance industry — would be on the stage in musical theatre. To read the Q&A go to https://xeniabroking.com/news-and-insights/coffee-cup-corner-a-quick-q-a-with-katie-wright-xenia-account-broker.
Allianz Trade wins two International Trade and Forfaiting Association (ITFA) Insurance Awards.
Allianz Trade has announced it has won two ITFA Insurance Awards: the best Trade Credit Insurer Award and the best Surety Insurer Award. A total of seven awards were granted by ITFA, including three to insurers.
In Memoriam: Rupert Murray. A message from Trade Credit Global:
We are delighted to let you know that a gathering is being planned to remember Rupert Murray and celebrate his life on Tuesday 19 July 2022.
It will give us all the chance to share our memories of Rupert with his close friends, family and colleagues and give him the kind of send-off he would have wanted. We very much hope as many as possible of those who knew Rupert will be able to join us.
Date: Tuesday 19 July 2022
Time: 6pm
Venue: The Deck, 20 St Dunstan's Hill, London EC3R 8HL
Drink on arrival and food will be provided
If you are able to join us, please contact Bridget Chapman of Trade Credit Global who is coordinating the event. Email: bridget.chapman@tradecreditglobal.com Mobile: 07831 674133.
In addition, the just giving page has been reopened. 
The link is https://www.justgiving.com/fundraising/rupertmurray65.
New Appointments
Markel International has announced that it has appointed Simon Philpin as its new Head of Trade Credit, responsible for leading the trade credit team across Markel’s offices in London (where Simon will be based), Asia, and the US. Simon has over 20 years of underwriting experience and has been at Markel International since 2014. He is also Chairman of the Association of British Insurers' Trade Credit Committee.
Company Watch has welcomed Craig Evans as its new Head of New Business. Craig has more than twenty-five years of industry experience and joins Company Watch from Graydon UK, where he had worked for more than thirteen years — most recently as UK Country Director.
Coface has announced the appointment of Jun Minorikawa as Japan Country Manager. Based in Tokyo, Jun will report to Hugh Burke, CEO of Coface for Asia Pacific. Jun joined Coface North America in 2019 as Head of Coface Japanese Solutions in the region.
Howden Group has appointed Oliver Gregory as a Divisional Director within their Global Credit Solutions team. Oliver joins Howden from Xenia Broking where he was Associate Director.
Towergate has announced three new appointments. Bally Mali becomes Sales Director of Towergate Credit and Steve Dyke has been appointed Advisory Director, both have been with Towergate for more than five years and will report to Lynn Mildner, Director of Credit. Robbie Williams also joins the team as a Business Development Executive reporting to Bally.
Atradius Collections has welcomed Georgia Weekes as a Strategic Account Manager, based in Cardiff. Georgia previously worked for Atradius as an Account Manager and rejoins from Cardiff Council.
Tryg Garanti has appointed Terry Salmon as UK Country Manager. Terry started his insurance career at Euler Hermes, (now Allianz Trade) over 20 years ago, before joining Coface, and then Travel & General Insurance Services where he was the Commercial Director.
Career Opportunities
Client Director – Trade Credit
Redhill & Manchester Offices
Who are we?
Verlingue are an established, prominent independent family-owned Insurance Broker & Employee Benefits Consultancy with the long-term vision of becoming the recognised leading business of this type in Europe. Operating from offices throughout France, Switzerland and the UK, Verlingue employ over 1,000 people, have income of around €100M and place nearly €2 billion of premiums on behalf of clients.
In the UK we trade under the names Verlingue and NBJ London Markets.
  • We employ 180 people and have offices located in Manchester, Egham, Redhill and London.
  • Verlingue are leading corporate Insurance Brokers providing Insurance, Risk Management and Employee Benefit services to businesses and Private Clients. 
  • NBJ London Markets are a specialist Lloyds & London Market broker providing access to unique products and services with capabilities to place business internationally.
  • We identify with high standards of knowledge, professionalism and ethical practices throughout the organisation. We are recognised as part of an exclusive group of fewer than 200 Chartered Insurance Brokers.
  • Ranked in the top 10 independent commercial insurance broking businesses in the UK, placing £135M of premium.
  • Clients range from FTSE 250 to SME, HNW / connected Private Clients and other Retail brokers.
Our success is based around our people delivering high quality service, excellent working relationships and meaningful results for our clients, including provision of a single stop advisory service. We offer the certainty of long-term relationships to clients, our insurer market and our people. This sets us apart from our competitors.
For further background please visit www.verlingue.co.uk and www.nbjlondonmarkets.com.

The Team
Verlingue have a vibrant team with different backgrounds but with the same vision of success and growth, so being a team player is critical This role will be based in our Redhill Office, which is currently made up of 5 Credit personnel.

The Role
This is a hybrid role consisting of managing a portfolio of clients whilst new business development will be a key contributor towards the departments growth plans.

Key Responsibilities
General responsibilities
  • Provide new clients to Verlingue Trade Credit through a combination of self- generated leads, internal leads and client referrals. (Year 1 target £50k new business income).
  • Client retention through the provision of a professional service to clients covering all aspects of their credit insurance arrangements; to advise, arrange and secure the appropriate cover at a competitive premium.
  • Provide high-level support and assist with disseminating Credit cross-office internally (presenting and training).
  • To comply with regulatory requirements, industry codes of practice and the Company’s own procedures and rules. 
  • Must work on the principal of treating customers fairly and behave in an ethical manner.
  • To provide a positive contribution to the team objectives.
  • To update knowledge of insurance market as & when developments occur.
  • To continue improvement in technical insurance knowledge.
  • To support & assist with the development of the Credit team members.
  • To liaise with colleagues in other departments, to assist them or to work collaboratively when required.
  • To refer all complaints and any potential Errors & Omissions to a Director and/or the Complaints Officer immediately.

Business Development
  • Development of a book of clients through new business.
  • Develop leads through networking with existing and new contacts alike.
  • Develop business from group colleagues and assist in supporting their clients.
  • Help build the Verlingue brand through growth

  • Liaise with Account Handlers regarding method of obtaining renewal information.
  • To undertake renewal visit/client contact to ascertain client’s needs for the year ahead.
  • To discuss with Account Handlers broking strategy and deadlines.
  • To ensure meeting notes are issued in a timely fashion.
  • Liaise with account handlers to ensure the invoicing of new business and renewals is on time, as well as documentation being issued within the office timescales.
  • To ensure renewal terms are provided to the client in an accurate and timely way using the Acturis system documentation.

Day to day Servicing
  • To liaise with Account Handlers to ensure that any mid-term issues are dealt with accurately and promptly.
  • To assist the Director of Trade Credit and other colleagues where necessary to assist with workload issues.

Person Specification
  • Experience of proven new business development.
  • A proven track record of developing a book of existing business, or be in the position to bring a book of business over time.
  • Experience in Credit Insurance or in Commercial Finance.
  • Minimum 3-5 years’ experience in a Client Director / Account Director, or similar role.
  • Ability to work to a tight deadline.
  • Excellent and accurate administration & communication skills.
  • Be self-motivated.
  • Ability to work under pressure.
  • Problem solving ability.
  • Ability to present and/or support with training.
  • Ability to utilise IT for maximum advantage.
  • Demonstrable drive, self-motivation and determination to achieve results.
  • Strong influencing, negotiation and leadership and management skills.
  • Team player.
  • Customer obsessed.
  • Consistently demonstrates behaviours conducive to achieving both personal and team objectives, in line with the core values of Verlingue
To apply for this position please send your CV to Sacha.Dean@verlingue.co.uk.
Events & Professional Development
SCHUMANN Digital Risk Management Conference 2022.

The SCHUMANN Conference is the cross-industry and multinational online event for decision-makers and executives around credit risk management, compliance, and digitalisation projects. 

On 27 September 2022, you can expect expert knowledge, how-to strategies from our customers and inspiration to help you increase your competitiveness through process automation.

  • via live stream 
  • 27 September 2022 
  • 10:00 a.m. to 5:00 p.m. (CEST) 
  • The conference is aimed at decision-makers and executives in charge of credit risk management, compliance, business development and digitalisation.
  • Industries: Manufacturing and trade, energy, financial services, credit & surety, etc. 
  • Participation is free of charge

For more information go to https://prof-schumann.com/en/conference
To register Click here.

STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of webinars and classroom training courses.
The classroom training courses are scheduled to take place in September 2022 on the following dates:
  • 27 & 28 September 2022: Trade Credit Insurance Foundation Course
  • 29 & 30 September 2022: Trade Credit Insurance Advanced Course
  • 27 & 28 September 2022: Surety Foundation Course
  • 29 & 30 September 2022: Surety Advanced Course
To avoid missing out on this opportunity, please register with us before the 25th of July to let us know your interest in this course and reserve your place. We will let you know after the 25th in the unlikely event the course cannot go ahead
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned experts from the industry and there is ample opportunity for posing questions, discussions and networking.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Detailed information about the webinar and classroom training courses is available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: STA International
STA International is the recommended debt collection partner to four credit insurance underwriters. Systems alignment provides a secure and transparent service to reduce protracted default (PD) claims, and increase policyholders' cash flow.
With UK and overseas accounts referred at the end of the Maximum Extension Period (MEP) to STA, we add Late Payment Act interest and collection cost to the principal debt and immediately contact the buyer.
This early intervention results in speedy recovery of most accounts. The policyholder receives prompt remittance of the principal sum and interest, with STAs costs covered by the buyer paying the collection costs. Recovering costs and interest means, on average, policyholders enjoy free-of- charge debt collection.
The underwriter has online access to every action taken by STA, including a single buyer's consolidation across multiple policyholders. Simultaneously, the policyholder sees all STA actions on every buyer placed for collection, along with the collection success dashboard and recovery cost details.
With PD claims reduced for the underwriter, cash flow and premium protection maximised for the policyholder, STA provides a win-win solution to cash collection challenges. To find out more, please visit www.stainternational.com.
Call Sam Cable on 01622 600921; email sam.cable@staonline.com.
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