Major Insurer open as usual for Construction Business

Tokio Marine HCC are experts in construction and continue to write strong levels of cover in the sector.

There are major concerns in the construction industry that credit insurance in the sector has reached a ‘crisis point’ with subcontractors and suppliers warning that they are unable to obtain cover on some of the industry’s biggest names. As a result, many have been forced to turn down work. (Construction Enquirer)

However, Tokio Marine HCC have confirmed there is no cause for concern. Despite recent construction insolvencies, they continue to write strong levels of cover and pay claims across all sectors, including construction. Their limit satisfaction for the construction sector is currently at an average of 83.8%.

Tokio Marine HCC are experts in construction and have been writing Trade Credit and Surety business for over 40 years. They will only withdraw cover where they have serious concerns about the financial situation of a particular contractor and continue to underwrite risks on their own merits.

Insurers engage with customers and their buyers on a daily basis to ensure they are making appropriate credit limit decisions and part of their responsibility is to steer customers out of harm’s way when they do see issues.

Clearview Credit hold specialist broker status with Tokio Marine HCC as well as all other major UK Credit & Surety insurers.

To explore credit insurance options for your business, start a quote today through our new online portal.