We welcome the announcement

HMG Support Scheme

Coface UK welcomes the announcement made by Her Majesty’s Government over a scheme that will support UK businesses through credit insurance. This agreement comes after weeks of intense discussions with the HMG and the Association of British Insurers over the best way to leverage the industry’s position to the benefit of the wider economy.

This scheme reflects similar state-backed support, currently being developed in other European countries and Canada, to help businesses to continue to benefit from protection. A key component of the scheme is to maintain (subject to normal underwriting practices) credit limits on buyers that are temporarily affected by the Covid-19 crisis and whose solvency would otherwise not be questioned. Maintaining cover as far as possible between suppliers and their clients will be a key ingredient in allowing the UK economy to overcome the challenges of the current crisis.

Please visit HMG or ABI for further information.

Want to know how Coface can help your business know more and grow more?

Get in touch About us

Related resources


Country & Sector Risk Barometer: Q1 2021 Quarterly Update

More than a year after the onset of the COVID-19 pandemic, uncertainties about its evolution continue to shape trends in the global economy. Despite the acceleration of the vaccination process, the prospects for a return to normal

14 May, 2021

View Resource

Trade Credit Insurance Explained – with working examples

Credit insurance protects you against bad debt. So if the worse happens, you still get paid.

20 April, 2021

View Resource

Coface report looks at china and Australia’s trade relationship

The China-Australia bilateral relationship deteriorated sharply over 2020, with China imposing both formal and informal trade restrictions on a number of Australian exports, including coal, barley, beef, wine, cotton among others.

15 April, 2021

View Resource


Keep your finger on the pulse with CofaNews

Sign up to CofaNews for the latest industry and economic news, exclusive invites and lots more.