Skip to main content
main content, press tab to continue
Survey Report

Insurance Marketplace Realities 2023 Spring Update – Trade credit

April 28, 2023

All economic signs point to deeper recession in the second half of 2023. Cash flow constraints and access to liquidity will lead to higher insolvencies, and this is expected to bleed into 2024.
Credit and Political Risk
Rate predictions: Trade credit
Trend Range
Trade credit Increase +5% to +10%
  • Loss ratios remain far too low for trade credit insurers, but we expect this to change as we head into a deeper recession in the second half of 2023.
  • The bank crises demonstrate a macro impact to a fragile economy, which will lead to more corporate insolvencies.
  • The flight to quality in the banking sector is leading to more insured supply chain finance programs.
  • A higher focus by corporates on working capital financing needs is heading us into a potential prolonged recession.
  • There is significant growth in the trade credit market over 2022 as more companies protect their receivables.


Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).


Trade Credit and Political Risks

Related content tags, list of links Survey Report Credit and Political Risk Insurance United States
Contact us