The value of trade credit insurance claims more than doubled in the first quarter of 2009, according to the Association of British Insurers, in a period that saw withdrawals or the reduction of insurance for companies as diverse as Topps Tiles, Corus and Focus DIY.

Figures from the ABI show that in the first three months of 2009, the value of trade credit insurance claims rose 166 per cent on the same period last year, from £119m ($194m) to £316m.