Brokers urged to 'recession proof' their commercial clients
Directors’ and Officers’ (D&O) specialist, Angel Underwriting, has urged brokers across the UK to ensure their commercial clients are made as ‘recession proof’ as possible, as the spectre of a mass slowdown looms ever larger.
The latest British Chamber of Commerce (BCC) quarterly report claims the UK is on the brink of a serious recession, announcements of job cuts are appearing almost daily – the latest from house builder Persimmon, which has announced 1,100 job cuts, and costs spiralling whilst order books have been slowing over the past 3 months. Angel believes that the net result of these factors will be significant increases in claims against companies and their directors.
Mark Shreeve, Angel Underwriting’s CEO
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