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Business: Insurance

Volume 496: debated on Wednesday 9 September 2009

To ask the Minister of State, Department for Business, Innovation and Skills how many companies have made an application under the Trade Credit Insurance Scheme to date; how many such applications have been (a) approved and (b) rejected in each month in which the scheme has been operational; and how much funding has been disbursed under the Scheme to date. (286382)

[holding answer 13 July 2009]: Take-up of the scheme is demand-led as it depends on the number of credit limit reductions in the private sector. All applications, payments, claims and queries under the scheme are dealt with by the trade credit insurer. Eligibility for the scheme is automatic for all those that qualify.

To date, we have had a total of 52 approved applications, broken down as follows:

Number of approved applications

May

11

June

8

July

26

To 14 August

7

We have had one claim for a value of £81,000.

29 applications have been rejected by the Trade Credit Insurers for being ineligible under the scheme rules.