🚧 Eight construction firms are collapsing daily in Australia🚧 Most recent monthly first time administration stats from ASIC continue to tell a rather bleak story. An average of eight construction companies are collapsing each day, with a total of over 7,000 having collapsed since 2021. This highlights the urgent need for businesses to safeguard themselves […]
Trade credit insurance is a valuable tool for businesses, yet many misconceptions surround it. Let’s clear up the top five myths: Myth 1: Trade Credit Insurance is Only for Large Companies Reality: Trade credit insurance is beneficial for businesses of all sizes. Small and medium-sized enterprises (SMEs) can benefit greatly from the protection against non-payment. This […]
When it comes to trade credit insurance (TCI), several unique aspects set it apart from other types of insurance. While TCI shares familiar elements that most business owners know and understand, such as a premium, an excess, and an indemnity, that’s often where the similarities end. The features that differentiate TCI can sometimes leave potential […]
Insolvencies are rising, especially in construction and hospitality, with August figures nearly double the 2017-2024 average, but insurers are keeping premiums soft, making it a good time to explore TCI quotes.
The first question often asked about trade credit insurance is “how much does it cost?” Trade credit insurance safeguards your business against non-payment by customers, ensuring your cash flow remains stable. By insuring your accounts receivable, you can operate with greater confidence, knowing that your cash flow won’t be disrupted if customers fail to pay. […]
Why might trade credit insurance not be right for you? The main factor that might exclude you as a potential candidate for TCI is uniformly low exposures. With standard credit insurance excesses of $5,000 (though they can be as low as $2,500), if your clients typically trade no higher than $10,000 or $15,000 at any […]
At Capital Trade Credit Solutions, we like data and the occasional graph. Last week, ASIC released new statistics on ‘first-time administrations.’ Key Takeaway: Insolvencies have not only rebounded to pre-COVID levels over the past 12 months but are continuing to rise, significantly impacting the construction industry more than any other. No surprises there. In July 2020, there […]
