Billington, a steelwork contractor, has indicated that its financial exposure to the collapse of ISG is limited due to a payout from its credit insurer. The company has already received an interim payment from the insurer and expects the financial impact to be significantly reduced, pending the insurer’s formal acceptance of an independent assessment of the remaining claim. Any further financial exposure is expected to be confined to the excess on Billington’s credit insurance policy. This means that while there may still be some residual costs, the overall impact on Billington’s finances is anticipated to be manageable. Read more https://www.building.co.uk/news/steelwork-contractor-says-impact-of-isg-collapse-limited-because-of-insurer-paying-out/5133317.article
