The Government re-insurance scheme has helped merchants to access the appropriate level of trade credit insurance to operate their businesses and trade with confidence since it was introduced in May.
The Builders Merchants Federation (BMF) is calling on the Government to extend the trade credit insurance re-insurance scheme introduced to support trading following the initial Covid-19 lockdown, which is scheduled to finish at the end of December this year.
Over 50% of BMF members use some form of trade credit insurance to transact with both customers and suppliers. The Government re-insurance scheme – which provided a £10bn guarantee – has helped merchants to access the appropriate level of trade credit insurance to operate their businesses and trade with confidence since it was introduced in May, backdated to 1 April 2020.
