Trade credit insurer Atradius is increasing its credit insurance capacity on 13,000 UK companies, as part of its review of its risk underwriting strategy. Atradius believes the move will particularly benefit small to medium-sized companies and that over £1bn of extra trade could be facilitated in the coming months.
The increase will be applicable to all trade sectors, but it is likely to have the most significant impact on companies in the construction and engineering industries.
Atradius has been able to increase capacity after improvements were made in the sourcing of up-to-date financials that better enable to company to see which potential customers are performing well despite the economic climate.
"For some time we have stated that cover would increase if we could to see improvements in the sharing of information by businesses. We are delighted to have seen a significant shift in business practices to this effect. This will be a welcome boost for our customers as they grapple with credit risks in an uncertain environment,” comments Shaun Purrington, director, Atradius UK and Ireland.
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