Welcome to the September 2021 issue of Credit Insurance News Digest. This issue is sponsored by SCHUMANN.

Index
 
Credit Insurance News
UK suppliers and fashion industry leaders warn that business has become increasingly precarious as trade credit insurers narrow down cover. Drapers has reported that UK suppliers have been facing a trade credit insurance dilemma since the government’s trade credit reinsurance scheme ended. One supplier Drapers spoke to said that around 80% of his clients had lost insurance cover on retailers they sell to since the beginning of August, with some losing cover on as much as 50% of their retailer base. Other suppliers Drapers spoke to said the problem of acquiring adequate protection against insolvent retailers unable to pay for orders has been mounting for some time, and many no longer see trade credit insurance as fit for purpose. “You’re effectively paying for something that, as soon as the ground gets rocky, they won’t cover," commented Oliver Buhus, director of clothing supplier Paragon Clothing. To read Drapers' article go to https://www.drapersonline.com/news/suppliers-call-for-financial-protection-against-risky-retail.
COVID-19 has put trade credit insurance "back on the map". Insurance Insider has reported that sources have advised that, although UK trade credit insurers expect an influx of UK insolvencies at the end of the year, the market is well-positioned to withstand the elevated loss activity, with demand for the product and the appetite to write risk remaining strong. In addition, with the exception of particularly stressed industry segments, rates — which had been kept artificially low due to the rating caps put in place by government backstop schemes — are not expected to harden considerably in the near term. Regarding the trade credit backstop scheme, the article also notes that due to the lower-than-expected level of losses and the high level of premium payments needed for participation, the insurers who decided not to use the scheme could emerge from the pandemic in substantial profit, James Few, CEO of TigerRisk Partners, UK said: “The reality is that trade credit insurers have paid a portion of their premium to government schemes, where in hindsight their diligent underwriting may have provided a similar result without ceding premiums away." To read Insurance Insider's article go to https://www.insuranceinsider.com/article/28w2o3w0rgl9o0j6ww35s/uk-trade-credit-insurers-expect-influx-of-insolvencies-starting-q4.
The COVID-19 pandemic and its impact on trade credit insurance. Flow has published an article in which Vinco David and Jonathan Skovbro Steenberg of the Berne Union (BU) explain how BU members have been increasing support for exporters and their financiers during the pandemic. They note that, fortunately, the industry went into the COVID-19 pandemic in a healthy state, well-positioned to increase its support for exporters and financiers during this crisis — new cover reported to the Berne Union increased in 2020 by 1.5%, directly supporting 13.6% of global merchandise trade in 2020. Although trade credit insurers paid claims of about US$8 billion in early 2020, an increase of around 20% compared to the previous year, agreements on payment deferrals, moratoria and debt restructuring helped avoid "a cascade of defaults and claims" as well as maintaining good working relationships. To read Flow's article go to https://flow.db.com/trade-finance/export-credit-insurance-in-crises.
Atradius has confirmed a smooth transition for customers after the close of the UK's Trade Credit Reinsurance Scheme. Reinsurance News has reported that six weeks after the end of the UK government's Trade Credit Reinsurance Scheme, Atradius has commented that the handover process has run as expected — a continuation of limits for customers and growing levels of cover. Stuart Ramsden, Regional Director of Atradius UK and Ireland, commented: “The Trade Credit Reinsurance Scheme was only ever designed to be a temporary measure, and while it was very much a welcome initiative, we were ready for its close, which came at the right time. Atradius was well prepared to take back full underwriting control once again, and we can confirm this has been the case with a smooth transition for our customers. . . In fact, Atradius is underwriting higher cover levels proportionate to the level of trade now than prior to the pandemic.” To read Reinsurance News' article go to https://www.reinsurancene.ws/atradius-reports-smooth-transition-after-trade-credit-reinsurance-scheme/
UK trade credit claims are expected to rise following a rise in insolvencies. Marsh has published an article by Eddie Feather, Senior Vice President, Claims Leader, Trade Credit & Political Risks at Marsh, which warns that as government support schemes wind down, an escalation in insolvencies will lead to a rise in UK trade credit claims and, consequently, to closer scrutiny by trade credit insurers for any failures from clients to comply with policy terms and conditions. A list of the most common reasons for rejection of trade credit claims (accompanying the article) notes that Marsh's research suggests that of all rejected claims, 90% are rejected due to credit limit issues (including lack of justification, no credit limit, or credit limit on the wrong entity), failure or late reporting of an account that has breached reporting requirements, or delivery of goods after the MEP/stop shipment has expired. In addition, Eddie warns that as the UK economy recovers, Marsh anticipates an increase in fraudulent activity, which is not covered by a trade credit insurance policy. To read Marsh's article go to https://www.marsh.com/uk/insights/research/trade-credit-insurance-end-to-uk-support-likely-to-increase-claims.html.
COVID-19 trade credit reinsurance schemes "remain a mystery". InsuranceERM has published an article that advises that it recently asked the UK, French and German governments to disclose the total premiums they had accepted as part of government-backed trade credit reinsurance schemes and how many claims had been paid by the time the schemes ended. However, although all declined to respond to InsuranceERM's questions, arguing there was commercial sensitivity around releasing the numbers and that any disclosure would be premature as claims were continuing to come in, InsuranceERM notes that there is little doubt that premiums outweighed claims in the trade credit reinsurance schemes, producing "a significant financial windfall" for governments. "It’s also true trade credit insurers appreciated them – initially, at least." To read InsuranceERM's article go to https://www.insuranceerm.com/news-comment/comment-covid-19-trade-credit-reinsurance-schemes-remain-a-mystery.html.
Aon analyses trade credit insurance placements, claims, trends and market performance. Aon Credit Solutions has published its Q2 2021 Market Insights report, which provides an analysis of the trade credit insurance environment, claims, trends and market performance, with an interactive digital country map detailing trade credit insurance schemes and insolvency law changes during the pandemic. The report notes that, although COVID-19 related claims have not materialised at anything like the expected levels, the market consensus is that these will emerge in late 2021 and into 2022 as government support measures taper off and 'zombie' firms fail. The report also notes that notwithstanding the expiry of government reinsurance schemes, insurers' credit limit appetite and capacity have expanded during H1 2021 with current risk acceptance rates at 2019 levels for many trade sectors. However, certain “red” sectors of transportation and hospitality "remain challenging" to underwrite. To see a copy of Aon's Market Insights go to https://insights.aon.com/aons-credit-solutions-q2-2021-insights/market-situation-update/.
The export credit insurance industry fared relatively well in 2020. The Berne Union's 2020 State of the Industry Report advises that, despite the huge disruption and heightened risk environment inflicted by the COVID-19 pandemic, the export credit insurance industry fared relatively well in 2020, with new business increasing despite a sharp contraction in economic activity. In addition, the report notes that defaults and claims remained manageable because of the high degree of government support in many countries. Overall, Berne Union Members’ total new business (including both cross-border and domestic) increased by 2.4% in 2020 to US$2.5 trillion, driven by growth in short-term (ST) trade credit (+31%) as well as new domestic support, which increased sharply (+60%). Europe is still the largest market for ST export credit insurance (50%), followed by East Asia & Pacific and North America. However, almost all regions saw a moderate increase in cover. To read the Berne Union's report go to https://www.berneunion.org/Articles/Details/606/2020-State-of-the-Industry-Report.
W Denis Credit Risks acquires the share capital of Trade Credit Global (UK) Ltd. W Denis Credit Risks Ltd, a leading UK specialist broker dealing in trade credit insurance, surety, and political risk, has announced that it has acquired the share capital of Trade Credit Global (UK) Ltd. John Cockshutt, Director at W Denis Credit Risks, commented: "We have worked with Trade Credit Global over the last 18 months, and our businesses complemented one another. This was the obvious next step. We look forward to welcoming Bridget Chapman, who will be joining our London team at our offices on Lime Street, in the heart of the City of London." Click here to read W Denis' news release.
European SMEs are 7-15% at risk of insolvency in the next four years. Euler Hermes has warned that, although state support in 2020 reduced the number of fragile SMEs by more than 8,000 in Germany, France and the UK, 7%, 13%, and 15% of SMEs in these three countries are still at risk of insolvency in the next four years. This compares with 9%, 14% and 17%, respectively, in 2019, implying that state support not only cushioned the blow of COVID-19 but overcompensated for it. According to Euler Hermes' calculations, without state support the share of fragile SMEs, most notably in France and the UK, would have been much higher, at 17% and 26%, respectively. Overall, automotive, transport equipment, services, retail, construction, and energy appear the most exposed sectors. To read Euler Hermes' news release go to https://www.eulerhermes.com/en_global/news-insights/economic-insights/european-SMEs-at-risk-of-insolvency.html.
Euler Hermes warns of an increased vulnerability to global supply chains for the UK post-Brexit. According to Euler Hermes’ Head of Macroeconomics, Ana Boata, British businesses have become more dependent on global suppliers from outside Europe post-Brexit, while nearshoring is not yet taking off. Euler Hermes expects the UK economy to grow by at least 6% this year — far exceeding Eurozone countries and broadly in line with the US (6.3%). However, inflation, Brexit-induced non-tariff barriers, labour shortages and COVID-19-related shipping issues are reducing British firms’ ability to meet demand, and Ana Boata, warns of an increased vulnerability to global supply chains for the UK post-Brexit, as it shifts towards higher dependency on imports from outside of Europe. For example, in the six months after Brexit, imports from China have increased by +47% compared to the same period of last year, imports from outside-EU excluding China have risen by 11%, while imports from the EU increased by just +2.5%. Click here to read Euler Hermes' news release.
The pandemic has resulted in some surprising positives for the construction industry. Tokio Marine HCC's latest Sector Update for the construction industry advises that although due to the challenges of the last eighteen months, "it would be easy to conclude that the somewhat traditional, cash-constrained construction industry would fall to its knees", in the UK, at least, this hasn't been the case. Instead, some surprising positives have emerged, such as a number of main contractors offering early payment schemes and an unseen level of cooperation and collaboration across the industry, which have resulted in some businesses enjoying their healthiest cash position in two years. "It would be a wonderfully positive legacy from this period if some of that behaviour became ingrained in payment culture." To read Tokio Marine's update go to https://www.tmhcc.com/en/news-and-events/trade-credit-sector-update-construction.
Tinubu Square discusses the challenges trade credit insurers face when assessing the credit risk of micro and small business enterprises (MSMEs). TFG (Trade Finance Global) has published an article in which three experts from Tinubu Square discuss the obstacles that MSMEs face when obtaining financing, particularly in emerging and developed markets such as India and Southeast Asia, and examine the specific issues and challenges trade credit insurers face when assessing MSMEs. Tinubu Square notes that "alternative data must be considered in the absence of traditional financial statements" and advises it has started a new research program, an important part of which will focus on the usage of open and alternative data to create models dedicated to assessing credit risk in areas that have traditionally not been covered. This includes the World Bank’s open data combined with e-commerce, social media, bank, and mobile phone data. To read TFG's article go to https://www.tradefinanceglobal.com/posts/under-the-spotlight-msme-access-to-finance-in-emerging-developing-markets/.
Atradius expects the global economy to grow by 6.2% in 2021. Atradius' latest Global Economic Outlook reports that, although the economic cost of the pandemic will likely be felt at some point, the pace of the recovery is "generally surprising to the upside", most notably among advanced markets with high vaccination rates. As a result, Atradius' new Economic Outlook forecasts a 2021 global growth rate of 6.2% — higher than was expected six months ago, followed by 4.7% growth in 2022. Advanced economies are expected to grow by 5.8% in 2021, surpassing pre-crisis activity levels, while a recovery of 5.0% in 2021 is predicted in the Eurozone, with all member states expected to see GDP levels return to pre-pandemic levels by the end of 2022. However, the rebound is uneven, with tourism-dependent countries in Southern Europe lagging behind their Northern peers. Although the UK economy is still not expected to reach its pre-crisis level before 2022, its outlook is also substantially brighter than it was at the beginning of 2020, with annual GDP forecast to increase by 7.3%. To read Atradius' news release go to https://atradius.co.uk/reports/economic-research-global-economic-outlook-august-2021.html.
Coface launches a new app, CofaMove. Coface has announced that it has launched a new app, CofaMove, designed to provide its clients with swift credit risk management when they're "on the go". The app enables Coface's clients to order information services & reports, track the status of claims and indemnities, follow overdue account cases submitted through CofaNet, and use the “Indemnity Follow-up” tool to get information such as the Net Debt, the Estimated Claim Payment Amount, and the Estimated Payment Date. Coface advises that this will help credit managers be more reactive in terms of risk-taking. CofaMove is available in 15+ languages and can be accessed by CofaNet users at no extra cost. To read Coface's news release go to https://www.coface.com/News-Publications/News/CofaMove-Coface-s-app-for-on-the-go-credit-risk-management.
BPL Global announces a solution to enable Lloyd’s underwriters to provide credit insurance in Japan. BPL Global has announced that it has established a binding authority with Lloyd’s Japan Inc (LJI) dedicated solely to covering credit risks from Japan, and a major European bank with shipping operations in Japan has now become its first global client — receiving credit insurance cover for a seven-year policy term. Mineyuki Yokota, Underwriting Service Director at LJI, commented: “This solution opens up new routes for Lloyd’s underwriters to provide credit insurance in Japan and provides myriad benefits for internationally operating companies. We hope that this latest credit insurance policy will be the first of many so we can continue to build capacity for Japanese risks.” To read BPL Global's news release go to https://bpl-global.com/2021/08/05/bpl-global-breaks-new-ground-establishing-a-binding-authority-with-lloyds-japan-for-credit-risks/.
Coface and Banca Valsabbina announce a strategic partnership agreement. Coface and Banca Valsabbina, a bank operating in Northern Italy, have announced that they have signed a strategic partnership agreement that focuses on the promotion of Coface's credit insurance and bonding policies to Banca Valsabbina's corporate clients. Ernesto De Martinis, CEO of Coface in Italy and Head of Strategy for the Mediterranean & Africa Region, commented: "Thanks to this agreement, Coface in Italy will be able to effectively support a new pool of businesses in Lombardy, Veneto, Piedmont and Emilia Romagna." To read Coface's news release go to https://www.coface.com/News-Publications/News/Coface-and-Banca-Valsabbina-join-forces-to-support-companies-in-Italy-and-internationally.
A long journey towards an African Free Trade Area. Atradius' latest Regional Economic Outlook on Sub-Saharan Africa advises that the African Continental Free Trade Area (AfCFTA) could become the largest trade bloc in the world in terms of participating countries and a boost to Africa’s growth potential in the next few years, but its full implementation still has a long way to go. Many countries would first need to establish the necessary customs infrastructure and required procedures to trade, with, so far, only Egypt, Ghana and South Africa having accomplished this. Atradius notes that although most African economies are expected to benefit from the AfCFTA ultimately, the most open and diversified economies with already well-established trade links will benefit the most. To read Atradius' news release with a link to the full report go to https://atradius.co.uk/reports/economic-research-a-long-journey-towards-an-african-free-trade-area.html.
What's next for trade credit insurance? GTR (Global Trade Review) has published a series of webinars from the GTR UK 2021 Virtual conference on 29-30 June. The series includes:
  • 'After the storm – what next for UK trade credit insurance', in which speakers from Markel International, Euler Hermes, Aon Reinsurance, Tokio Marine HCC and McLaren Automotive consider claims performance, market liquidity levels and what the future is likely to hold.
  • 'The latest support offerings for UK exporters', which examines the range of offerings UK Export Finance has made available to help British exporters navigate challenging headwinds and considers the wider future of the ECA market.
  • 'Shock tactics – mitigating risks in a post-COVID world', which provides a snapshot of how risks have changed over time, the impact on claims, emerging areas of demand and appetite, and how the structured credit and political risk market is innovating to keep up with changing needs. 
To watch the videos go to https://vimeo.com/showcase/8604180.
New video series helps governments, regulators, companies, and financiers understand how credit insurance can work for them. The International Credit Insurance & Surety Association (ICISA) has published a series of explainer videos to build awareness and understanding of trade credit insurance and explain trade credit insurance's role in supporting businesses and the economy. The videos include: 
  • How trade credit insurance builds resiliency and supports economies 
  • How trade credit insurance works for banks and their clients 
  • How trade credit insurance works for companies 
  • Understanding trade credit insurance
Atradius launches a news hybrid working philosophy. Following a consultation with staff, which identified a clear preference for maintaining an element of remote working, Atradius has launched a new (voluntary) hybrid-working policy giving staff flexibility to spend up to 40% of the time working remotely. To support the plan, Atradius has also introduced a new support programme, including wellbeing webinars, social connectivity initiatives and light ‘how-to’ workshops, designed to equip staff with the skills to work remotely effectively. This follows the rollout of a new technology and communications infrastructure as well as full-scale IT support and training. Atradius notes that while the hybrid working philosophy is stable, as a new structure it will continually be reviewed to ensure it evolves to meet both the needs of staff and the wider business. Click here read Atradius' news release.
Congratulations
Euler Hermes Asia Pacific was named the Best Trade Credit Insurance Company Asia Pacific 2021 by Global Banking & Finance Review for the fifth consecutive year.
New Appointments
Atradius has appointed Nicola Hinchliff to the role of Service Leader for its Northern Hub. Nicola first joined Atradius in 1997, starting as an Account Executive based in the firm’s Manchester office. The latest promotion sees Nicola take the combined roles of Senior Account Manager and Service Leader of the entire northern region.
Tokio Marine HCC has announced that it has expanded its European Credit and Political Risk team with the appointment of Benjamin Faubert as Senior Underwriter. Benjamin joins from Société Générale where he was Director of Syndications, Credit and Political Risk. He will be based in Paris.
Chubb’s trade credit team is expanding its presence in the US and welcomes Theo Guidry to the team. Theo will be located in Washington, D.C., expanding Chubb’s trade credit presence in the US to a 4th city after New York, Chicago and Los Angeles. Theo will report to Ray Tizabi.
AIG has appointed Sylvain Bouteillé as its new Head of Trade Credit for the Americas. Sylvian is Adjunct Associate Professor teaching Financial Statement Analysis and Credit Risk Management at Queens College (City University of New York), and prior to joining AIG, he worked for Swiss Corporate Solutions for 20+ years in New York, where he held several leadership positions in distribution strategy and multinational programmes.
Atradius has appointed Alastair Divers to the role of Account Manager for its northern UK hub. He joins Atradius from waste management company Biffa, where he served as a Corporate Account Manager.
Nexus Group has appointed Agatha Liberatore as Head of Trade Credit in the US. Agatha joins Nexus from Aon’s Credit Solutions team, where she was Executive Director, Account Management, and Lead North American Risk Analyst.
Crum & Forster has appointed Daniel L. Sussman President of its Credit Division, reflecting C&F’s stated commitment to continued growth in the credit insurance market. In this role, Daniel is responsible for leading C&F’s expanding admitted and surplus lines credit insurance platforms in North America and other select jurisdictions. He also will oversee the strategic partnership with Nexus Underwriting, Ltd. in London.
Swiss Re Corporate Solutions has announced that it has appointed Marilyn Blattner-Hoyle as Global Head of Trade Finance in its global credit & surety unit. Marilyn joins from AIG, where she most recently held the position of Global Head of Trade Finance.
AIG has announced that it has appointed Mark Moran as Chief Credit Officer, AIG Credit Lines. Mark was previously AIG's Head of Risk, Credit Lines, UK, North and South Europe.
Tokio Marine HCC has announced that it has welcomed Jasmine Worthington-Hunt as a Credit Risk Analyst. Jasmine joins the risk analysis team after graduating from the University of Leicester with a first in Economics & Econometrics.
Bridge Insurance Brokers Ltd have appointed Lauren Wilkinson, who joins the Trade Credit Division within Bridge as their new Credit Apprentice. Lauren joins the company straight from college and is the first entrant onto the Bridge Credit Apprentice Scheme.
Charles Taylor has welcomed Dagmar Böhning and Rob Crampton to its dedicated Credit and Political loss adjusting team. Dagmar, who previously worked as a Senior Underwriting Manager at Equinox Global, joins Charles Taylor as a Senior Loss Adjustor. Robert Crampton previously worked as Chief Underwriting Officer at Nexus Trade Credit. He joins Charles Taylor as a consultant.
Nexus Trade Credit has announced the promotion of Danny Ismail to Head of New Business - UK within the Nexus Trade Credit team. Danny will now be responsible for all aspects of New Business and the promotion of all Nexus Trade Credit products in the UK.
The Board of Directors of Coface SA have announced that they have co-opted David Gansberg, Chief Executive Officer, Global Mortgage Group at Arch Capital Group Ltd., as a non-independent director. David takes the place of Benoît Lapointe de Vaudreuil.
AXA XL has appointed Dane Mahoney as Global Head of Political Risk, Credit & Bond Risk Management, based in New York. Dane began his tenure at AXA XL in 2013 as a Risk Analyst for political risk and trade credit.
Euler Hermes has announced two changes in their Regional Management teams.
  • Milo Bogaerts, CEO of Euler Hermes Northern Europe, is appointed CEO of Euler Hermes in Germany, Austria and Switzerland (DACH Region), effective 1 October. He will replace Ron van het Hof who will leave the company after nine years of regional leadership.
  • Marine Bochot, currently Head of Credit Underwriting for Euler Hermes Group, will succeed Milo Bogaerts as CEO of Euler Hermes Northern Europe. Marine joined Euler Hermes in 2014 and was most recently Group Head of Credit Underwriting.
Coface has announced the following appointments within its executive committee:
  • Antonio Marchitelli, currently CEO of Coface Western Europe Region, is appointed to the newly created role of Chief Executive Officer, Global Specialties, effective January 2022. 
  • Carine Pichon, currently Chief Financial and Risks Officer, will replace Antonio as CEO of Coface Western Europe Region. 
  • Phalla Gervais will replace Carine in her role of CFO, in charge of finance and risks. Phalla comes from Aviva, where she was CFO and Deputy CEO of Aviva France. 
  • After several months acting in this role, Coface has confirmed Jaroslaw Jaworski in the role of Chief Executive Officer of Coface Central and Eastern Europe Region. Jaroslaw was previously Poland Country manager.
Events & Professional Development
GTR MENA, 22 September 2021. Dubai.
Following on from the virtual event held in February and as part of its combined hybrid offering for 2021, Global Trade Review is delighted to be returning to Dubai for GTR MENA 2021 on September 22 for a special in-person event, taking place at the Jumeirah Emirates Towers.
Reflecting on the seismic previous 18 months for trade and exports in the region, proceedings will address a range of topics and issues, from trade resilience and the road to post-Covid recovery to the many exciting developments in the fintech and tradetech space, issues around supply chain management and SCF, emerging trade corridors, asset distribution and the increasing significance of ESG.
As the first opportunity to bring the GTR MENA community together in-person since February 2020, this event represents an exclusive opportunity for participants to network and connect with experts, industry peers and potential clients, all within a Covid-safe environment in line with the latest government regulations.
Event tickets are capped at 300 attendees for this exclusive one-day gathering.
Book now to secure your place at the leading trade and export finance conference for the Middle East and North Africa region.
SCHUMANN Digital Credit Risk Management Conference 2021, 30 September.
The virtual SCHUMANN Conference gives attendants the opportunity to find out what is new in the world of digital credit risk management. Experts from many industries will report on the challenges due to the current economic developments and the opportunities offered by increasing digitalization.
Attendants will experience more than 40 speakers from well-known, international companies in two live streams and 30 slots. Participants from more than 20 countries have already registered.
Companies are currently faced with the need to realize corporate expansions in a way that preserves liquidity and capital, and therefore to push forward digitalization and automation in credit management. Profit from the experiences of other companies with new methods and future-orientated technologies.
The agenda will be published soon here: SCHUMANN Conference.
Registration is free of charge: https://portal.prof-schumann.com/en.
Consortia 2021, London and Virtual,19-20 October.
Blockchain is continuously being looked at by both banks and independent receivables finance providers to massively streamline their trade and receivables finance operations. The pandemic has led to a huge shift toward digital platforms, making blockchain even more relevant to ensure safe and transparent transactions.
Back for a second year, BCR’s Consortia 2021 will once again bring together the major consortiums pioneering blockchain and distributed ledger technology (DLT) for trade and receivables finance to the business and financial community. Consortia 2021 will provide a forum for the consortiums and their prospective partners and other interested parties which will showcase and evaluate their development and future.
The event is a perfect opportunity for discussion on how blockchain and DLT are impacting trade finance and the business opportunities that these new technologies offer to banks, funders, SMEs, government bodies, trade bodies and corporates etc. 
For more information go to https://bcrpub.com/events/consortia-2021.
National Credit Awards 2021. 21 October 2021. The Waldorf Hilton, London.
New for 2021, MoneyAge is proud to present the National Credit Awards.
The awards are designed to honour the outstanding professionals and firms in the many varied fields of the credit industry, to recognise, celebrate, and promote best practice, to support continuing development, and to contribute towards raising the standards within the credit arena.
The awards are free to enter and you can enter as many categories as you like.
Head over to the website to find out more.
SUBMIT YOUR ENTRY: https://www.moneyage.co.uk/creditawards/index.php.
Deadline for entries: 25 June 2021
BCR’s Alternative & Receivables Finance Forum, 18 November. London.
Businesses are adapting to changing global trade patterns and facing challenges of maintaining competitive and sustainable supply chains, while continuing to optimise their costs and cashflow. They are constantly looking for new technology-enabled funding models that have potential to help companies to adapt to geopolitical shifts, the rapid growth of eCommerce and the fallout from the Covid-19 pandemic. The Alternative & Receivables Finance Forum is a timely opportunity for receivables finance providers and ‘alternative’ SME funders to identify openings of this new trade era, address the choices SMEs are making to fill financial gaps, learn from the top industry players how the receivables finance sector is rebuilding and expanding after Covid. Join #ARF21 by booking your ticket at https://bcrpub.com/events/alternative-and-receivables-finance-2021. Professional Development.
Stecis is getting back on track with Webinars, Classroom courses and Masterclasses.
As we all hope that the Covid-19 pandemic is under control after the summer, STECIS has planned again a number of classroom courses in November 2021. For Trade Credit Insurance and Surety Bonds, at each Foundation and Advanced courses will be offered in the vicinity of Amsterdam Schiphol. In case still necessary, all applicable Covid-19 restrictions will be in place during the classroom training courses. During the classroom trainings real, practical cases will be discussed. Additionally, various webinars on both Trade Credit Insurance and Surety Bonds have been already scheduled throughout the year. These webinars are interesting to all individuals who are starting their career in the TCI and/or Surety Bonds industry, but also for all other interested parties like brokers, re-insurers´ employees, lawyers, credit managers etc.
To expand our offering STECIS is currently developing three masterclasses on Trade Credit Insurance that will address the following topics: TCI and Digitalisation, Non-traditional TCI products and TCI and Finance. These masterclasses will be hold by top experts from the TCI industry presenting the recent developments and trends in the field of TCI. Joining these masterclass will be not only be an excellent way to keep up to date with important developments in the TCI world. The courses are also an excellent means to increase your professional network as you will meet other participants and top experts from the industry.
When the outlines of the three masterclasses are available, they will be shared via Credit Insurance News and the website of Stecis.
More information can be found on the Stecis’ website: www.stecis.org.
All courses will run at the Steigenberger Hotel at Amsterdam-Schiphol.
Further information can be obtained by sending an email to: info@stecis.org.

About the Sponsor: SCHUMANN
At SCHUMANN we optimise the management of risk for credit, surety, political risk insurers and export credit agencies. Our software solutions and risk models are setting the future technological standards for the industry.
We are an open-minded and learning organisation which invests heavily in research and development, often with our partners at the University of Goettingen. We aim to stay ahead of the competition with our cutting edge technology.
We value our independence, and are happy to work with any data provider or partner of your choice. We favour long term partnerships. We invest all of our resources into our customer relationships, and as a result have never lost a customer in our 24 year history.
CAM Credit and Surety enables our customers to automate risk assessment and underwriting processes, while our artificial intelligence handles complex workflows with ease, enabling customers to remain compliant with their regulatory environment.
A SCHUMANN software solution is both future proof and the most robust on the market – it will provide decades of service and will never let you down.
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