Credit insurance demand during uncertain times: A view from Great American Insurance Group
At the ITFA Americas Annual Conference in Miami, Trade Treasury Payments (TTP) spoke with Nasrin Nourizadeh, Head of Business Development at FCIA, a division of Great American Insurance Group, to discuss how recent macroeconomic shifts are shaping the demand for credit insurance across the market.
Nourizadeh said, “We’ve seen a noticeable uptick in demand for credit insurance from both corporates and financial institutions, particularly in North America. Clients are worried. They’re worried about non payment. They’re worried about tariffs and how it’s going to affect them. They’re worried about their supply chain. So we have seen an uptick in in demand because when uncertainty rises, credit insurance becomes top of mind.”
Great American Insurance, a multiline insurer rated A+ by S&P and A1 by Moody’s, has offered credit insurance solutions through FCIA since 1961. Its products cover a broad spectrum of trade credit exposures, including both short- and medium-term policies, with coverage extending up to seven years and limits of liability reaching $100 million.
Despite growing concern across the market, Nourizadeh noted that insurers, at least for now, are open for business.
“Right now, capacity is available and prices are still low,” she said. “But if the environment worsens, that could change quickly. New clients might find it harder to get coverage if capacity tightens, so it’s important to act while conditions are favourable.”
Looking at the broader trade finance landscape, Nourizadeh pointed to the persistent impact of tariffs and the evolving conversation around AI and automation, especially as institutions align emerging technologies with operational risk management, all of which were covered during the sessions at the event.
“This was one of the best events we’ve attended. The sessions were high quality, the topics timely, everything from economic outlooks to AI to trade policy. It’s clear that everyone is trying to navigate the same uncertainties.”
Her message to the market? “Buy insurance while it’s available. Because when the storm hits, it might be too late.”
Key Topics
- Trade credit insurance as a practical tool for managing risk in uncertain markets
- The impact of tariffs and economic volatility on global trade flows
- Supply chain resilience and the importance of secure payments
- Credit insurance solutions for corporates and financial institutions
- The growing role of AI, automation and digital tools in trade finance
Key Insights
Expert Analysis
Nasrin Nourizadeh, Head of Business Development at FCIA, offers a clear view of how the credit insurance market is evolving in response to global pressures. As part of Great American Insurance Company, FCIA focuses on supporting middle market clients with a wide range of trade credit solutions. She points to a noticeable increase in enquiries, driven largely by concerns around tariffs, supply chain disruption and the risk of delayed or missed payments. This demand is not limited to one geography. It is visible across both domestic and international markets, reflecting how interconnected global trade has become. Nourizadeh also highlights the importance of timing. With capacity currently available and pricing still competitive, businesses are in a strong position to secure cover. However, this may not last. In more challenging conditions, insurers are likely to prioritise existing clients, making it harder for new entrants to access cover. Alongside these trends, she notes that the industry is paying close attention to developments in AI and automation. While there is still some uncertainty around the right approach, investment in these areas is clearly gathering pace.— Nasrin Nourizadeh
Key Findings
- There has been a clear increase in demand for credit insurance across markets
- Tariffs and economic uncertainty are key concerns for businesses
- Supply chain pressures are driving the need for stronger risk protection
- Insurers currently have capacity, with pricing still relatively stable
- Credit insurance continues to support business stability and ongoing trade activity
Implications
- Demand for credit insurance is likely to remain strong as uncertainty continues
- Tariffs are expected to reshape trade patterns, with mixed outcomes across sectors
- Insurers may become more selective, focusing on existing relationships
- Investment in technology will become increasingly important for competitiveness
- Businesses will need to take a more proactive approach to managing credit risk
Key Takeaways
- Credit insurance is becoming an essential part of managing trade risk
- Market uncertainty is encouraging earlier and more strategic use of cover
- Securing insurance while capacity is available can offer a clear advantage
- Trade risk should be viewed as both domestic and international in scope
- Technology is set to play a much bigger role in how risk is assessed and managed
