One of our meat clients held a multi-million dollar limit over their largest customer up until August 2020 when their insurer’s appetite to cover this customer changed and they imposed a 75% reduction on the limit overnight. NCI repeatedly appealed this decision based on supportive financials, strong trading history between our client and their customer, coupled with this particular client having an excellent track record at collecting their trade debts.Read More
Welcome to 2021, another stop-start year for businesses? I think by now we have all become accustomed to mini lockdowns, alert levels by region and working from home.
2021 is another year of uncertainty. So far, due to government support and protection mechanisms, there have been minimal insolvencies during the Covid period, but will this continue? How much did the Pay Subsidiary and IRD/Bank support relieve the “cash flow” pressure for businesses and, once these are wound back, will we see a new wave of insolvencies and higher unemployment?Read More
Government intervention gives reprieve to Credit Risk… but what about 2021?Read More
The new act that comes into effect on 1 December 2020 introduces a number of new privacy protections for individuals and greater obligation for businesses and organisations. The new Act is to reflect technological changes in the way we do business since the original Act was introduced.Read More
As we approach the end of 2020, business confidence looks to be increasing with many industries performing well and most lockdown restrictions now removed. NCI’s latest Trade Credit Risk Index reported a sharp decline in credit risk, mainly due to lower incoming claims and collections activity, plus a reduction in Insurer credit limit actions.Read More
Government measures impact insolvency and collection resultsRead More
What a whirlwind the last few months has been with the impact of COVID-19.
During March, many feared the worst and with significant lockdowns and reduced trading conditions, our industry braced itself for a possible flood of company insolvencies. However, a few months in and our data shows (at this moment in time), many of those fears are yet to be realised.Read More
Insurer Limit reviews lead to jump in Risk ScoreRead More
The current business environment and impacts of COVID-19 are providing various challenges to business communities around the world.
It is anticipated by many economists that, despite the efforts of governments to support their business communities and individuals, there will still be significant fallout relating to trade credit risks into the future.Read More
Q1 tracking well, until COVID-19…Read More
Trade credit insurance is the ultimate protection against bad debts, where you have your debtors insured against the risk of insolvency, protracted default or political events.
Extends from full credit approval to monitoring, reporting services and tailored outsourced credit management. CRM is there to assist you in...
Good credit management should ensure that customers pay on time, we understand that this is not always the case and not everyone has a trained and dedicated credit manager.
Over the years we realised that while our core product was insurance broking, our business was actually about protecting the profitability of our clients.