If IFRS9 applies to you, so does this!

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Have you an established practice on the assessment and reporting of credit risk exposure under IFRS9?

Reporting requirements under these new standards impose a burden on companies to comply with new “expected credit loss impairment principals”.

Header image for IFRS9 articleWhilst these will be familiar to financial institutions, it will be new territory to many corporates who will need to recognise expected credit losses within their receivables. This needs to be forward looking and no longer simply reliant on current or historic data.

Credit insurance enables businesses to reduce the amount of Expected Credit Loss (ECL) by limiting, monitoring and controlling credit risk exposure with the resultant improvement in P&L volatility. In addition, local collection services improve debt recovery from delinquent customers.

With insurers delivering solutions to aid corporates with their workloads, increasing focus will be placed on a specialist brokers ability to assess and understand the client’s needs in delivering solutions.

PIB have extensive experience in all aspects of Trade Credit Insurance from simple credit management enhancement to the use of the cover as Unfunded Risk Mitigation under Basel III.

For more details on how we can help you please contact traderisk@pib-insurance.com.