All News & Comment

Behind Burdens

6 Mar 2013

If there’s one thing that defines CIFS’ corporate “philosophy” it’s that underwriting excellence must be backed by meaningful and open communications if we’re to provide policyholders with sustained business benefit.

Selby on Construction

6 Mar 2013

First the good news. Output in the construction sector grew for the first time in the last three months of 2012 – the first rise in six quarters. Figures from the Office for National Statistics point to relatively buoyant growth in private housing and infrastructure, and the 0.9 per cent uptick was higher than the 0.3 per cent growth the ONS had initially forecast. What’s more construction output is predicted to rise in 2014.

A night to remember

7 Feb 2013

CIFS is delighted to tell you of our fantastic victory in the Credit Insurer of the Year category at last night’s ICM British Credit Awards.

Important news from Nexus Group

1 Jan 2013

New Lloyd's Managing General Agency Formed by Nexus Group to Underwrite Trade Credit Indemnity.

New Joiner - Natalie Pelczer

1 Jan 2013

We are delighted to announce the appointment of Natalie Pelczer to our Risk Underwriting team.

CIFS Underwriting Capacity for 2013

1 Jan 2013

Following the recent announcement about our impending change of ownership, we continue to enjoy great support from the Lloyd's market and are delighted that Novae will continue to provide some of our underwriting capacity.

CIFS makes shortlist for ICM Awards

1 Jan 2013

News has came though this week that CIFS has reached the shortlist for the Best Credit Insurer category in the prestigious ICM British Credit Awards.

Who's to blame for the dying Comet?

5 Dec 2012

So we have another spectacular collapse in the retail sector and once again it's the big bad credit insurers who're to blame.

Is Government Business Good Business?

5 Dec 2012

The news of chief executive Philip Fellowes-Prynne falling on his sword as profits collapsed at road and waste management company May Gurney is a salutary reminder of the danger of over-reliance on government contracts.

The Price is still not right for Construction sector

5 Dec 2012

First the good news. According to the Royal Institution of Chartered Surveyors tender prices for building contracts are 4 per cent higher then in 2010. The bad news is that this rise has been superseded by a 7 per cent hike in material prices like sand, gravel, cement and fuel. The pressure on margins means contractors are simply unable to absorb further cost increases, says RICS.

Rooftop Appeal

5 Dec 2012

We take our hat off once more to the Forum of Private Business who continue to embarrass the banks over their record on handling to small businesses.

D&B Report suggests cautious approach despite lower business failures

27 Nov 2012

Construction Act changes detailed

12 Nov 2012

Important changes to the law governing construction contracts were covered in detail at two CIFS seminars in London and Wakefield.

CIFS Moves To Nexus

16 Oct 2012

Novae Syndicates Limited (Novae) is pleased to announce it has exchanged contracts for the sale of its Credit Indemnity and Financial Services (CIFS) business to Nexus Underwriting Management Limited (Nexus).

CIFS Construction Seminar - Key Commercial and Contractual Issues

14 Sep 2012

CIFS is hosting an exclusive seminar to discuss the recent changes to the construction act. The seminar will be delivered by Hawkswell Kilvington, specialist engineering and construction solicitors and, whilst normally a chargeable event, is being offered free to all CIFS policy holders.

One year after launch, there is proof that First Limit helps CIFS policy holders

10 Aug 2012

It's now a year since the launch of First Limit, CIFS' automated decision tool that delivers an instant response to requests for trading limits under policyholders' discretionary limit.

Some Gloom - Not Doom

19 Jun 2012

Every headline seems to point to impending economic disaster - and the downward revision of the quarterly GDP figures that heralded our entry into double dip recession has only accentuated an already bleak outlook. Yet this stark backdrop also masks surprisingly positive data.

A modest proposal

1 Jun 2012

We note with interest that HMRC is participating in the Forum of Private Business-inspired Business Buddy scheme. Revenue inspectors will work within small businesses to get a more informed idea of just what goes on in the companies they seek to tax.

We're talking RoT

20 Apr 2012

It's hard to see the Government's decision - following 18 months' consultation - to abandon planned reforms to regulations covering pre-pack administrations as anything other than a climbdown in the face of intense lobbying by insolvency practitioners.

The Devil's in the Detail

5 Apr 2012

The latest edition of the Dun & Bradstreet's highly-respected Quarterly Report makes particularly interesting reading - not least for the note of cautious optimism it strikes against a background of economic doomsaying.

Nine out of 10...

29 Mar 2012

Nine out of 10... that's the hit rate racked up by CIFS policyholders using our First Limit service to get an instant trading limit on potential customers.

STA International

23 Jan 2012

After 10 years STA have changed their name from STA Graydon to STA International effective Wednesday 18 January 2012

What's happening to the cranes?

18 Jan 2012

When Risk Underwriter Ciaran Byrne joined CIFS in 2009 he could look from his office and count 20 gigantic cranes adorning the City skyline. Now he's seeing a goodly number of them being dismantled - a stark illustration of the dramatic contraction in the UK construction sector.

Blackman on Retail

3 Jan 2012

Derryck Blackman puts KPMG's warnings for the retail sector under the microscope. Just what do you need to do to manage the growing risks of trading in this sector.

The danger of unintended consequences

13 Dec 2011

If audit requirements for smaller companies are relaxed, the Government may find insurers are no longer able to assess their credit risk accurately. In which case there's a danger cover may be hard to find, warns Bob Lilley. Presumably not what our legislators are seeking to achieve.

Seeing's believing

13 Dec 2011

Early adopters of CIFS' First Limit system for automatic DL decisions are reporting increasing use as the benefits of the product become increasingly apparent. As a CIFS policyholder now you can access a FREE First Limit demonstration.

CIFS' approach under FT scrutiny

13 Dec 2011

In a recent Financial Times article respected commentator Tony Jackson contrasts the intuitive judgement of market analysts with the more empirical perspective developed for CIFS by Professor Richard Taffler of Warwick Business School. Which do you choose?

Don't panic

13 Dec 2011

Unemployment's up. The Office for Budget Responsibility is cutting growth forecasts. We're not building enough houses and the eurozone's in a state of near collapse.

CIFS reclassifies Greece as an 'A2' country

20 Oct 2011

As a result of the ongoing economic uncertainty in Greece and the likelihood of Greece defaulting on its debt repayments, we have reclassified Greece as an 'A2' country. This means that Greece is no longer included automatically as one of the countries covered by the policy and a specific request must be made for it to be added.

Named and shamed

7 Oct 2011

One of the most on-the-ball initiatives to support small businesses is the Forum of Private Business' Hall of Shame - a list of larger companies who are deliberately squeezing their suppliers through late, or extended payment terms. Its well worth your support, say CIFS.

Getting it in

7 Oct 2011

"A sale is not a sale until the goods are paid for." Yes, that could be from Credit Management 1.01. It's trite but true though. And with every major survey suggesting payment terms are increasingly stretched, we asked Colin Thomas of CIFS' debt collection partner, STA Graydon, why some companies are better than others at getting the money in.

Geaves plays it safe with First Limit

7 Oct 2011

Gaining new business in current competitive conditions requires you to be fleet of foot. And if your target market tends towards the smaller business it's not without risk. One CIFS policyholder is using our new First Limit service to facilitate the rapid exploitation of new business opportunities.

Hard hit by fraud

7 Oct 2011

As growth continues to be elusive fraud has become the number one issue for police forces throughout the country. And it's not simply a white-collar crime - all kinds and sizes of businesses are affected. CIFS policyholders need to take a few simple precautions, says Sue Morley.

CIFS introduces new First Limit service

27 Jun 2011

Lloyd's credit insurer Credit Indemnity & Financial Services has introduced a new service - First Limit - enabling policyholders to obtain instant on-line decisions on appropriate trading limits with their business partners.

Payton on Timber

27 Jun 2011

In a recent hard-hitting interview with leading trade magazine, Timber Trade Journal, CIFS Underwriting Manager, Neil Payton, warned that relying on long-term business relationships could be a "recipe for disaster" in the current uncertain economic climate.

This Sporting Life

27 Jun 2011

Trading with sporting businesses has for some time been a commercial decision that requires careful consideration.

Government move on Pre-Packs

27 Jun 2011

Readers of our past news will be in no doubt of the strength of our opposition to the abuse of pre-pack administrations.

CIFS Updated

27 Jun 2011

In the first major revision of the company's web presence since our formation in 2000, the CIFS website has been revamped to feature a vibrant new corporate identity.

An Unpalatable Decision

27 Jun 2011

Those readers of a certain age will have felt a pang of regret at hearing the news that wine retailer Oddbins has gone into administration.

Lloyd's Syndicates Back CIFS Expansion

13 Dec 2010

Lloyd's credit insurer, Credit Indemnity & Financial Services (CIFS), has implemented a new insurance capacity programme which sees some of the most prestigious of Lloyd's syndicates participating in the company's growth plans.

New Appointments at CIFS

1 Nov 2010

We are delighted to announce the appointment of Stuart Yates as Senior Commercial Underwriter of new business at CIFS.

CIFS introduces new Integrated Collections Service

21 Jul 2010

Lloyd's credit insurer, Credit Indemnity & Financial Services, has introduced a new Integrated Collections Service designed to provide policyholders with certainty that outstanding overdue debts will be speedily paid under their policy.

View from the Bridge

28 May 2010

At CIFS we like to say we "had a good war" during the past two years - in possibly the toughest economic conditions any of us has experienced.

New Risk Management Head at CIFS

13 Apr 2010

Neil Payton has been appointed Underwriting Manager at Credit Indemnity & Financial Services. He succeeds Richard Marriage, who has been with the company for some 10 years and leaves to join Euler Hermes as part of its World Agency unit.

Credit Insurance "Aftershock" predicted

26 Feb 2010

Bob Lilley, MD of Credit Indemnity & Financial Services (CIFS), TTF's credit insurance partner, is warning of the danger of a credit insurance "aftershock", as dire trading conditions in the past 18 months impact on published accounts.

A Taste of the Macabre

14 Feb 2010

One of the more depressing recent news stories centred on bookmakers Paddy Power making a book on which airline would be the next to collapse.

What goes around comes around...

20 Jan 2010

The first in an occasional series of commentaries on market conditions and current issues in credit management from the CIFS management team. First up: managing director, Bob Lilley.

Risk Review: text of an email to policyholders from Richard Marriage, Underwriting Manager

28 Aug 2009

The ongoing risk review we've undertaken to ensure our insureds benefit from optimal protection in today's unprecedented economic conditions depends in large measure upon the co-operation and support of brokers and policyholders. Providing us with detailed financial and trading data enables us to make informed and appropriate decisions on the credit limits we provide on your trading partners.

Government top-up scheme: text of a letter to policyholders from Bob Lilley

24 Apr 2009

You may have seen in today's Budget proposals that the government is to introduce a credit insurance guarantee scheme and I am writing to outline our thinking on this project. In our initial view the government's scheme as presently constituted is a short-term response to the rapid and drastic reduction of cover across certain high-profile sectors by some of the credit insurers.

New appointment at CIFS

16 Jan 2009

Ian Selby and Victoria Johnson have joined Credit Indemnity & Financial Services, the specialist credit insurance subsidiary within the Novae Group, as risk underwriters, from similar positions with Euler Hermes.

CIFS Newsletter Competition Winner

7 Oct 2008

Currently downloading his music collection to a brand new I-pod Touch is Richard Lincoln, Financial Director of Lancashire-based Atkinson & Kirby, the lucky competition winner in our last CIFS Newsletter.

CIFS Sees Growth In Credit Insurance Market

31 Jan 2008

Credit Indemnity & Financial Services, the specialist trade credit insurer within the Novae Group, is looking to begin a new growth phase with the announcement of major policy enhancements as well as plans for expansion through participation in syndicated risk placements.

Time to re-assess balance sheet threat

10 Dec 2007

What is the risk of one of your debtors defaulting? High and rising, says Bob Lilley

Business failures jump by 12 per cent in first half

25 Sep 2007

According to figures produced for CIFS by leading data supplier, D&B, failures amongst UK businesses jumped by nearly 12 per cent in the first half of this year compared with the same period a year ago.