Thursday
Feb252010
Mix the Global Financial Crisis (GFC) and high credit insurance claims, and the result: Credit Over-Cooked
Thursday, February 25, 2010 at 05:05PM By Kirk Cheesman
While the Australian economy, generally speaking, was stimulated during 2009 to a quick recovery, there were more underlying insolvencies and bad debt occurrences than ever before.
ICBA Australia’s claims statistics for 2009 show credit insurance claims jumped by close to 300% on the previous year.
Keeping the above in mind, there are a few current items to note:
1. Many businesses, during the GFC, reduced staffing levels, stock and overheads to cope with the reduction in trade.