Trade Credit Brokers rebrands to Willis Towers Watson Trade Credit and Surety becoming Ireland’s largest Trade Credit Insurance specialist
Trade Credit Brokers has rebranded to Willis Towers Watson Trade Credit and Surety Ltd, becoming the largest and best resourced Trade Credit Insurance and Surety specialist in Ireland. Manufacturing NI CEO Stephen Kelly was on hand to deliver the keynote address at the rebrand, which took place in Harlem Cafe, Belfast.
Based in Belfast City Centre, and with an office in Dublin, Willis Towers Watson represents some of the most well-known brands and companies across a range of trade sectors and brokers over two-thirds of the Credit Insurance business across the island of Ireland. In Northern Ireland alone, its Trade Credit clients insure over £1.5billion worth of sales per year.
Trade Credit Insurance has come into sharp focus recently with several iconic companies, such as the high-profile collapse of Carillion and House of Fraser making the news headlines leaving their supply chains exposed to hundreds of millions of pounds of unsecured debt.
Having Trade Credit Insurance provides vital protection for businesses against the impact of bad debt which can be caused by a failure of customers to pay for goods or services sold on credit. The impact of bad debt can be devastating for some companies, but Trade Credit Insurance can help to manage risk and elevate anxiety.
As Brexit draws ever-closer, the growing threat of a no-deal outcome means that trade credit risks may be exacerbate, bringing an added layer of uncertainty to the already unsteady economic climate in Northern Ireland and businesses who are not protected with Trade Credit Insurance may face previously unforeseen dangers and challenges.
It is now more important than ever that businesses protect themselves and positively manage their credit risk with Trade Credit Insurance.
Nigel Birney, Head of Trade Credit and Political Risk Northern Ireland at Willis Towers Watson, said today:
“The rebrand of Trade Credit Brokers to Willis Towers Watson Trade Credit and Surety Ltd represents the evolution of Trade Credit Brokers to become the largest and best resourced Trade Credit Insurance broker on the Island of Ireland.”
“At a time when the future of business appears to be unpredictable, Willis Towers Watson can help businesses to proactively manage this unpredictability. Trade Credit Insurance is about mitigating risks and provides reassurance and financial protection during difficult trading conditions. You only have to look at recent news headlines to see the number of businesses which have been saved due to having Trade Credit Insurance in place when a business further up the supply chain fails. No-one is immune no matter how safe they may seem.”
“The added uncertainty and upheaval of Brexit, means that businesses are now in a position where they do not know what maybe thrust upon them. It is a time for businesses to be as protected and prepared as possible.”
“Trade Credit Insurance provides vital protection against the impact of bad debt caused by the failure of customers to pay for goods or services sold on credit and having Trade Credit Insurance can help businesses to proactively manage their credit risk. Having Trade Credit Insurance in place can help businesses de-risk and Willis Towers Watson can provide solutions and recommend an option for businesses who wish to proactively protect themselves and grow their business safely whether they are trading at home or abroad”