DUBLIN–(BUSINESS WIRE)–The “Trade Credit Insurance Market by Component, Enterprise Size, Application, Coverage and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
Trade credit insurance policy is largely purchased by a borrower of funds to overcome from events of a death, disability, unemployment, and others. It is generally marketed as a credit card feature and is largely available to credit card customers with the monthly cost charging a low percentage of the card’s unpaid balance. Trade credit insurance engages in covering several commercial & political risks for businesses & individuals in the market.
Attributed to increased trade, which includes issuing letters of credit (LCs), receivables & invoice finance, and others, the demand for credit insurance has accelerated and is expected to maintain its dominance during the forecast period. In addition, increase in commercial threats while trading and several benefits provided by credit insurance are major factors that drive the market growth. However, varied & conflicting trade regulations across different jurisdictions and lack of awareness toward trade credit insurance globally are some of the factors that hamper the market growth.
On the contrary, developing economies, such as India, South Korea, Taiwan, and Vietnam, are witnessing high growth in their manufacturing sector. Therefore, expansion of business and…