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New Rules Will Boost Credit Risk Policy Costs, Insurers Say

Law360, London (May 17, 2018, 1:00 PM BST) -- Trade credit insurance policies are likely to become more expensive and less readily available if the Prudential Regulation Authority goes ahead with proposed regulatory changes to force insurers to pay out claims within days, a leading U.K trade body warned on Thursday.

The International Underwriting Association — which represents companies trading in the London insurance market outside Lloyd's of London — said planned reforms by the Bank of England’s regulatory arm could prompt some insurers to stop offering the polices because they will no longer be...
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