'Petrified' insurers slam wallets shut as more resellers go titsup
The small sequential rise in reseller insolvencies in Q3 - in line with seasonality - will do nothing to calm credit insurers' general uneasiness about the IT sector. Data from credit reference agency Graydon UK, shows 75 channel firms bit the dust during the summer quarter, up from 64 in Q2 but dramatically lower than the 93 of …
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"Insurers finding more flimsy excuses to refuse payout and up premiums"
devils maybe...but they do provide security..
Insurers pay out only on a successful claim, where cover is granted and where the insured followed their own credit policy requirements. Like all insurers, they up premiums when the gap between claims paid to premium income generated narrows or where the insured has acted irresponsibly or made too many claims.
In fairness, insurers pay out a hell of a lot...all one needs do is look at their financial statements.
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