Credit insurance claims increase

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Credit insurance claims increase

Mon 13th Oct 2008

Credit insurance claims by companies have increased by almost a third, it has been reported.
The Independent cites data from the Association of British Insurers (ABI) which show a 31 per cent rise in such claims in the year's second quarter.
Nick Starling, director of general insurance at ABI, said that trade credit insurance claims show what is happening in the economy and added that the surge in such activity means that "UK businesses are really feeling the pinch".
He said there had not been such a peak in bad debt and claims since the dot com boom and bust in 2000.
Credit insurance covers suppliers against losses if the businesses that use their services do not pay their bills.
Recently, the ABI announced that all UK private healthcare fraud investigators are to meet next month for a two-day conference in Newcastle.
At the meeting, a new intelligence system will be launched to help combat health insurance fraud.
It is a web-based application to help share information about healthcare providers and fraudulent customers, brokers and employees.

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