While Spring is just around the corner, it would seem that clouds surrounding insolvencies and credit in general are building.
It’s interesting to note that ASIC’s data of insolvency appointments during July over the last 4 years are showing a return (already) to pre-pandemic levels:
July 2019 – 697
July 2020 – 341
July 2021 – 385
July 2022 – 674
Our incoming claims data is generally behind ASIC’s insolvency stats, but in July we also saw an increase of 42% in comparison to June. Regardless, the insurers are very open to offering cover at competitive prices right now and many are considering 2-year deals, a very good option for businesses to lock in rates!
In July, we held our Annual Awards night with our underwriting and insurer partners, it was a fantastic event and there were many accolades given. You can view a couple of photos from the evening here.