FY26 was a year increased claim payments for our clients. Across the year we settled 1,176 claims with a total value of just over $58 million. That is $58 million of cash returned to businesses who would otherwise have absorbed the loss themselves.

Building and construction has consistently high claim activity, with pockets of stress also evident across transport, manufacturing and retail. Consumer discretionary spending is also tightening up and therefore a further “slowdown” may be ahead of us.

So, what should businesses be doing right now?

• Review your customers credit risk at least annually.
• Turn on adverse alerts and let a ‘third eye’ provide early warning on stressed accounts.
• Check your customer Spread of Risk and run an NCI ‘CoverGap’ analysis regularly.
• Ensure you know who you are dealing with and register your security interests on the PPSR from the outset.
• Take collection action the moment an account falls overdue. The early collector gets the cash.

These are small changes today that can avoid a big impact tomorrow. If you are not sure where to start, NCI can conduct an analysis to support any “gaps” in credit procedures.

To all our clients, brokers and partners, thank you for your support through FY26. We wish you a prosperous and “claim free” FY27.

Kind regards,
Kirk Cheesman
Group Managing Director