(AP Photo/Seth Perlman)

May 14 (Bloomberg) — Insurance companies that provide protection to Sears Holdings Corp. suppliers have scaled back policies in recent months, people with knowledge of the matter said, following seven years of declining sales at the department-store chain.

Insurers such as Coface SA and American International Group Inc. have reduced the size of so-called trade credit policies for existing Sears vendors or declined to provide protection for new suppliers, according to the people, who asked not to be identified because the matter isn’t public. AIG has cut the size of some new policies by as much as 50 percent, one person said.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.