Trade Credit Insurance Backed By £10B Gov't Guarantees

By Lucia Osborne-Crowley (June 4, 2020, 11:04 AM BST) -- The government said Thursday it is setting up a £10 billion ($12.5 billion) trade credit insurance fund to protect businesses as they battle the economic fall-out of the COVID-19 outbreak.

The government's new scheme will mean that businesses across Britain will have their trade credit insurance guaranteed by the government in the wake of the coronavirus crisis. The policies protect them from losing out if customers who still owe money for products and services cannot pay off their debts.

"This reinsurance scheme is an important step as we carefully set about firing up our economy as we emerge from the pandemic,"...

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