Credit insurers have withstood the crisis admirably settling a high number of claims during 2009. If you are actively involved in trade transactions what percentage of your deal book now enjoys some political or credit risk cover from private insurers?
“As we all know, the principal focus has been on managing trade flows in ways that optimise working capital for the participants. This will continue to drive how US corporates manage their trade. That said, they are not overlooking the need to analyse other market alternatives.”
Michael McDonough, BNY Mellon - Lessons learned - April 2010