A new credit insurance broker specifically geared to the timber sector has set up business.
Coastal Credit Insurance Brokers Ltd is headed by Alan Sarling, formerly a consultant with Aon Trade Credit and who at one time was group credit manager at Meyers.
Mr Sarling has recruited former Aon Trade Credit and Meyer colleague Derek Barnett and said he had already picked up two appointments with key timber companies.
Coastal has already made presentations to members of the East Anglia Timber Trade Association, London Softwood Club and The Timber Trade Federation’s international division.
Mr Sarling said many underwriters were displaying a negative attitude to timber companies in the recession.
“I approached a credit insurer in Spain because a company could not get credit insurance,” he said. “But the insurer did not like the UK economy and did not like the timber sector.”
Last December Mr Sarling warned that underwriters were panicking with their removal of cover for timber traders.
