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Foreign travel advice Indonesia
FCDO advises against all travel to parts of Indonesia.
Foreign travel advice Romania
Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).
Foreign travel advice The Gambia
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).
Foreign travel advice China
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).
Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
Greece Without Restrictions?
Many businesses find the lack of cover for some of their buyers frustrating. For those who use Trade Finance, it can also have a disastrous effect on their cash flow.
Many underwriters will claim that a limit is not available due to the risk being too high due to size or location, but what about the risk to your company if you can’t get the funding to operate? Or the risk to your business if you are forced to stop trading with your biggest client, or trade uninsured? For a business to be successful, some risks have to be taken. UK Credit Insurance can help you find the solution to your restricted limits, and you might be surprised at just how many options have emerged recently.
Many businesses want to expand their customer base, but what if that customer is in Greece, Nigeria or another country stranded in a somewhat turbulent economic environment? UK Credit are pleased to introduce UK Export Finance who provide policies specifically for this market, with the support of the UK Government. A policy from UK Export Finance will only cover buyers in markets that the main credit insurers won’t. This can be any type of policy, such as whole turnover or specific account, as long as there is a UK margin of at least 20%, with no minimum premium. Even if you have a whole turnover policy with another underwriter, a UK Export Finance policy can be used to top-up the cover on the proportion of export that your existing policy won’t cover. This cover is also designed to meet funders requirements, and you broker will be pleased to facilitate the introduction of this new source of cover to your funder.
If however, you are looking for top-up for limits in the UK or other OECD (Organisation for Economic Co-operation) markets, there are more options now available, whatever the size of the limit.
HCC and Euler (with Coface’s new product to be announced later this year) offer enhanced cover for limits that have been restricted, or in some cases, nil limits. These are only options if you hold a whole turnover policy already with one of them, as cover is only offered by the holding underwriter to existing policy holders.
Equinox and QBE however, offer top-up policies with no restrictions on the underlying primary credit insurer, with the potential to cover up to 100% of the underlying primary limit. These solutions suit businesses in Continental Europe and OECD markets who have had larger limits restricted by their existing insurers.
So if you’re frustrated with restricted limits affecting your funding or trading, contact UK Credit to find the most suitable and cost effective solution to your credit insurance needs.