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Hundreds of millions of dollars in losses may not be the first thought that comes to mind when discussing Trade Credit Risk coverage, but an executive with the Zurich says that is what the global financial crisis cost the insurer over the past five years.

Speaking during a Webinar presentation last week by insurance broker Marsh titled, Doing Business in Distressed and Emerging Economies, Anne Marie Thurber, executive vice president and managing director, credit and political risk for Zurich, said the company has paid over $600 million in trade-credit claims since 2008 as a result of the financial crisis. She said honoring those claims proved the company’s value to its clients. She added that the company went beyond just paying claims.

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