{"id":15426,"date":"2020-06-29T09:01:01","date_gmt":"2020-06-29T09:01:01","guid":{"rendered":"https:\/\/ewnews.co.uk\/?p=15426"},"modified":"2020-06-29T09:01:01","modified_gmt":"2020-06-29T09:01:01","slug":"andy-johnson-joins-clcs-insurance-and-surety-working-group","status":"publish","type":"post","link":"https:\/\/ewnews.co.uk\/index.php\/andy-johnson-joins-clcs-insurance-and-surety-working-group\/","title":{"rendered":"Andy Johnson joins CLC\u2019s Insurance and Surety Working Group"},"content":{"rendered":"<p style=\"font-weight: 400;\"><strong>EDA Board member Andy Johnson joins CLC\u2019s Insurance and Surety Working Group to provide electrical wholesaler perspective in defining the Government\u2019s \u00a310 billion Trade Credit Reinsurance Guarantee.<\/strong><\/p>\n<p style=\"font-weight: 400;\">For many companies in the electrotechnical sector, Trade Credit Insurance (TCI) is an essential ingredient in their dealings with suppliers. It gives much-needed confidence to enter into contracts. But due to COVID-19 and increasing cashflow difficulties, businesses have faced the risk of credit insurance withdrawn, or premiums increasing to unaffordable levels.<\/p>\n<p style=\"font-weight: 400;\">In early June, the Government announced that Trade Credit Insurance will receive up to \u00a310 billion of government guarantees. This Trade Credit Reinsurance Scheme, which has been agreed following extensive discussions with the insurance sector, will see the majority of TCI coverage maintained across the UK.<\/p>\n<p style=\"font-weight: 400;\">The EDA welcomes the Scheme and is delighted that EDA Board Member and MD of LEW Electrical Distributors, Andy Johnson, has joined the Construction Leadership Council\u2019s (CLC) Insurance and Surety Working Group, that will help to shape the package to shore up the TCI sector.<\/p>\n<p style=\"font-weight: 400;\">The Working Group has issued a new guidance document for businesses, which is available to download via the EDA\u2019s COVID-19 Hub at www.eda.org.uk<\/p>\n<p style=\"font-weight: 400;\">\u201cMany construction and maintenance supply chain businesses, including electrical wholesalers, builder\u2019s merchants, manufacturers and suppliers, use TCI\u201d explains Andy. \u201cIt gives them the confidence to trade with one another, providing protection when customers do not pay their debts owed for products or services.<\/p>\n<p style=\"font-weight: 400;\">\u201cThis new guidance aims to provide practical advice and considerations for discussions with brokers and insurers when seeking TCI. It also provides an outline of the TCI Reinsurance Scheme between Government and insurers.<\/p>\n<p style=\"font-weight: 400;\">\u201cI am delighted to be a part of the new Working Group to bring our sector\u2019s voice to the table.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EDA Board member Andy Johnson joins CLC\u2019s Insurance and Surety Working Group to provide electrical wholesaler perspective in defining the Government\u2019s \u00a310 billion Trade Credit Reinsurance Guarantee. For many companies in the electrotechnical sector, Trade Credit Insurance (TCI) is an essential ingredient in their dealings with suppliers. It gives much-needed confidence to enter into contracts. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-15426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","et-has-post-format-content","et_post_format-et-post-format-standard"],"jetpack_featured_media_url":"https:\/\/ewnews.co.uk\/wp-content\/uploads\/Andy-Johnson_preferred-image-June-2020.jpg","_links":{"self":[{"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/15426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=15426"}],"version-history":[{"count":1,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/15426\/revisions"}],"predecessor-version":[{"id":15428,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/15426\/revisions\/15428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/media\/15427"}],"wp:attachment":[{"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=15426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=15426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ewnews.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=15426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}