Committee Updates | The ICISA INSIDER | April 2021 The ICISA INSIDER | April 2021
Credit Insurance Committee Niels Enevoldsen COVID-19 Pandemic is still influencing the work of the Credit Insurance Committee. The regular spring meeting was shorter than usually and took place virtually again. Many thanks to ICISA for setting up this meeting. Tour de table clearly demonstrated that the current main concerns are the development of the pandemic and the economic impact it might cause. It was interesting to learn about the different markets and the development of insolvencies – at the moment surprisingly moderate. State aid packages are still available and the visibility in the markets is very limited. Concerns are the number of zombie companies kept alive by state aid packages and if or when we might see a negative impact hereof.
Niels Enevoldsen Chair of the Credit Insurance Committee Company: Tryg Garanti
So the CIC will in the near future follow this trend closely and follow up on development in late payments/ insolvencies along with available state aid solutions. The committee will also closely monitor new demands arising from an unusual market situation. Our committee agreed to put together a working group to go through some essential FAQ’s concerning Credit Insurance. The aim of this project is to make the sector more accessible for anyone interested in understanding better the trade credit insurance industry. Another topic of interest for our committee was Brexit. Of course this will still be observed – there might come some legal/license questions up soon that must be addressed. The economic impact of Brexit is still to be monitored and discussed by the committee. We live strange times and the industry will most likely face new challenges that I believe will become topics of discussions for the Credit Insurance Committee.
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