by Frank Farrugia

Insurance has been in the past a dirty word seen as a cost to avoid. It always appears that the cost of insurance keeps increasing. Something that I always lived by was the words ‘you will only need insurance when you don’t have it’.

Take trade credit insurance for example. This is a policy which often gets missed and could be the difference between collecting on a debt and losing out on much needed working capital. If your business sells goods and services on credit terms, a substantial percentage of your working capital is probably tied up as accounts receivable.

As you may have seen from the current statistics industries such as building and construction, transport, retail and hospitality are continuing to experience short term stress and with this comes a domino effect eventually impacting your business. Trade Credit Insurance can help with the much needed cash flow when the debtor is wound up and unable to pay its debts.

If you're insuring the house, car and life, why not think about the source that helps maintain them all, i.e.  your business!

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