This weekend will mark the 90 day anniversary of the collapse of Carillion and while we have seen some insolvencies the predicted catastrophic wave of insolvencies hasn’t materialised yet.
At the moment it seems like every time you turn on the TV or listen to the news there is another well known company announcing it is going in to a CVA.
The Times article ‘Increased strain on supply chain highlighted by insurance payouts’ (16th March 2018) focuses on payments made by Credit Insurers in 2017, equating to £4.3 million per week.
In recent weeks, several high street restaurants have either undergone or are in the process of restructuring to manage their growing debts to creditors.
Businesses advised to consider credit insurance as part of their bad debt strategy due to an increasingly uncertain trading environment.
A stark reality is, of that £1 billion the Associated British Insurers (ABI) believe only £31 million would be ultimately paid out in claims to suppliers and sub-contractors of Carillion.
Following the £1.5bn failure of Carillion on the 15th January, it is estimated up to 30,000 smaller firms may be owed money.
Steve Vickers, Tax Partner at Hart Shaw is presenting an overview of the recent budget statement at January’s event
The acquisition of Henderson Insurance Broking Group (including Acumen Credit Insurance Brokers) to Aon completed on the 1st December 2017
Acumen’s Marlow office continues to strengthen its commitment to providing a local presence with the appointment of New Business Executive Lee Hargreaves.