SIG has teamed up with two leading financial services companies to launch a new credit insurance facility for subcontractors, to help mitigate the risk posed by bad debt and delayed payments.
Specialist insurance broker Credit Risk Solutions Ltd and underwriter Credit Indemnity & Financial Services have jointly developed the service with SIG, which provides customers with access to highly competitive rates and construction-specific cover not otherwise available in the marketplace.
The new service comes as the construction sector is experiencing high levels of business failure. Simon Johnson, SIG’s director of UK credit management, is spearheading the initiative. He said: “We’re seeing many of our customers considering credit insurance, but struggling to find a solution that takes into account the complexities of construction financing structures. The service was launched to fill this gap; giving sub-contractors direct access to both competitive rates and cover plans designed specifically to recognise construction businesses’ fluid finance requirements.”
For more information visit www.siginsulation.co.uk/credit-insurance.asp