We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Carillion Collapse Likely To Cost Trade Credit Insurers £31M

Law360, London (January 25, 2018, 11:48 AM GMT) -- Insurers will pay out an estimated £31 million ($44 million) to businesses in Carillion’s supply chain that have been hit by its collapse, the U.K.'s top insurance lobby group said on Thursday.

The figure, released by the Association of British Insurers covers only trade credit insurance, which can be a lifeline for businesses during uncertain trading times, such as insolvency or political upheaval. It covers firms against the risk of not being paid for goods or services that they provide.

“One insolvency can risk a domino...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.