It has been a very busy few months in the Trade Credit Insurance industry along with the wider New Zealand economy. Our Trade Credit Risk Index rose in Q2 to its highest level since 2020, an indication that the economy is starting to feel the pinch.
The great news is that NCI and Insurers continue to support claiming policyholders, ensuring any “insolvency surprises” are covered and their cashflow is protected.
On the NCI front, just a reminder we have brokers in both the North and South Islands and we cover the whole of NZ. It’s another part of our strategy to ensure we always have someone local to assist businesses with their Trade Credit Insurance needs. If you have a business division or know someone who may benefit from a free Trade Credit Insurance assessment, please reach out.
As we head towards the final part of the year, I would encourage everyone to take a close look at their customer list and think about a “wash” of your accounts receivable ledger. When was the last time you considered the financial health of your customers? The team at NCI are always available to help if needed.