As the global economy continues to weaken, and higher interest rates and prices impact markets, it’s clear Australia won’t be shielded from these events.
There are already indicators of a rough ride ahead:
If interest rates stay at current levels, or rise, we can expect Insolvencies to rise Australia-wide.
Scott's Refrigerated Logistics is an example of a company seriously affected by:
There are many other companies facing some or all of these issues - thirty to fifty companies are failing every day!
In challenging market conditions, it’s critical to manage Risk and avoid Bad Debts.
To best navigate an uncertain future, we recommend paying attention to:
For more information on how to best prepare your business for the future, or to learn more about the level of coverage offered through your insurance program, please feel free to reach out to David Pulver or Charles Galayini through the below details;
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