CREDIT RISKS ARE INCREASING – SO L U T I O N ! CREDIT INSURANCES
While the investments in the global economy increase and the rapid trends in the mortgage markets caused a decrease of the global liquidity, the expectation that a global crisis stands before the door is more and more increasing. When a global crisis enters the growth process, of sure the first and most affected markets will be the developing countries. This condition will cause that problems related to the risk of receivables of the companies and that they will experience problems in the collection of their debts. Credit insurances which are the greatest risk management instruments being solution in the management of receivables risks increased in Turkey 168% in the first half of 2007 in comparison with the last year’s same period.
While the load the trade receivables form on the firms are at 30% of the global economy, this brings along company bankruptcies being more in comparison with the previous year. It is forecasted that in 2007 more than 400.000 firms will go bankrupt within the global economy.
While the increase rate of bad checks and protested vouchers moved at the 30%s in Turkey last year, the number of closed companies was nearly 20.000 by being also at a rate near to these rates, i.e. at a degree of 24%. The most important risk within the closing of the firms the impossibility to collect receivables in due time stands out. The firms being unable to collect their receivables in due time come under the pressure of high interests and advance towards a process of collapse.
In this risky economy the credit insurances provide great advantages to the enterprises for risk management in form of Export Loan Insurance and Domestic Loan Insurance. NART Insurance and Reinsurance Broking Services Inc. being the pioneer in matters of structuring this insurance in Turkey determines and offers the most right insurance product on the market to the enterprises by preparing special risk analysis reports for the Firms. The firms encounter the most right risk management instrument with this product.
|
|