Allianz Trade has launched a new trade credit insurance product for the UK and Ireland.

The new offering provides a range of new features to enhance efficiency for brokers and insureds, featuring a range of enhancements to existing provisions, including fully retrospective cover for approved buyer risks; CEND political risk coverage as standard; and enhanced delayed effect cover.

The insurer also promises simpler policy documentation, with a quick access online portal to retrieve policy documentation and other key information.

Additionally, new terms and conditions are grouped into country zones rather than by country, making it even more efficient to arrange cover for insureds trading in multiple jurisdictions.
All new business will be underwritten per the terms of the new policy wording, while existing policies will transition at natural renewal points throughout the year.

Sarah Murrow, CEO for the UK and Ireland, Allianz Trade said: “Since the inception of the UK & Ireland business, over 100 years ago, we have been committed to innovating and providing a service that keeps pace with the needs of our brokers and insureds. International trade today faces significant pressure from multiple directions, and it’s becoming more complex. Our research suggests global insolvencies will rise again this year by 9%, so covering non-payment risks will be a matter of survival for many businesses.

“Our updated policy wording is designed to give our insureds the security and confidence to trade and grow, despite prevailing economic uncertainty, while providing brokers with a solution that is simple to use and makes their job easier.”

Peter Evola, commercial director for the UK and Ireland, Allianz Trade, added: “Today is a key milestone not just for Allianz Trade in the UK & Ireland, but represents a shift for the entire trade credit market. The message is loud and clear: we are prioritising innovation to ensure our core product is what our clients and partners need today, to give them confidence to trade tomorrow, and to give us a base to innovate even further in the future.

“Early feedback from our brokers is encouraging. I’m immensely proud of our team for creating such a comprehensive product suite that is easy to use, and cements our position as the leading trade credit insurer.”


Image courtesy Port of Dover

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