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25 April 2018

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Trade credit insurers stop writing Carillion covers

Bernard Goyder 12 January 2018

Trade credit insurers, including market leader Euler Hermes, have ceased writing new coverage for suppliers to Carillion, The Insurance Insider understands.

Other trade credit underwriters, including Tokio Marine HCC and MGA Nexus, have also told clients they will not insure deliveries to the ailing contractor, sources said.

Trade credit insurance protects companies against the risk that a customer goes insolvent.

Carillion's share price fell 28.95 percent today amid reports EY is set to be appointed the company administrator in the...

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