Trade Credit Insurance

Tuesday, February 7, 2017

Claims per industry specific January 2017.pdf

Dear Valued Members

We are about to take the next step following our recent ANNOUNCEMENT that Freight & Trade Alliance (FTA) has partnered with Logical Financial Management (LFM), National Credit Insurance Brokers (NCI) and Coface to provide a combined and specialist Trade Credit Insurance program.

NCI will now be contacting FTA members through the month of February to discuss:

the opportunity of evaluating your business risk; and
providing a program or tools to assist your business in both protecting your cash flow and encourage growth with confidence.

NCI have produced a simple VIDEO about Trade Credit Insurance – whilst the "sleep at night" principle is what we are trying to achieve, the program that we have developed has been tailored to meet the needs of Australian customs brokers and freight forwarders who provide credit for importers (including import duty and GST).

The recent failure of both Marcs and David Lawrence, and in just the last few days Allphones Group, provide yet further examples of "household names" who are now insolvent. Take a look at the following CLAIMS DATA for the reported claims in various industry sectors for the month of January 2017. Are you working with customers in any of those sectors?

As business owners it is highly recommended to evaluate this area of risk in your balance sheet and we encourage you to take full benefit of this members service.

Finally, if you are not the most appropriate person for NCI to contact within your business, please provide alternate contact details via return email.

Thanks again for your ongoing support – best regards Paul