Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire


Home » Finance Articles » General Articles » Government bucks up credit insurance ideas Articles

Government bucks up credit insurance ideas

The government has improved its £5bn credit insurance top-up scheme after figures revealed it has provided just £7m of assistance to 52 companies since its launch in May.

First unveiled in the budget, the scheme allows firms that have had their credit cover cut to purchase six months' "top-up" cover.

Many firms have been put off by the scheme's relative expense and in response the Department for Business Innovation and Skills (BIS) has announced that the price of top-up cover will be halved to one per cent.

It has also removed the £20,000 lower limit and doubled the upper limit to £2m.

It is not the first revision to the scheme: in June, the government backdated the programme by six months to boost cash flow for firms whose cover was reduced over the winter.

"Today's changes will allow more businesses to benefit from this extra breathing space, so that they can adapt to their new circumstances in the longer term," BIS said in a statement.

The UK's largest credit insurers - including Euler Hermes, Atradius and Coface – have all supported the scheme.

However, some credit insurance players, including credit insurance broker Aon, warned that the latest revisions still may not go far enough.

Aon said it would like to see the facility extended further, to allow cover where the credit limit has been reduced to zero and to enable companies to buy "permanent" limits of three-six months.



More General Articles
1 2 Next
put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.