TradeSecurely.ca features the latest business and industry reports and information related to trade published by RIAC members. www.tradesecurely.ca was created to promote the business opportunity for receivables insurance – also known as trade credit insurance – to Canadian insurance brokers, the banking industry and businesses engaged in domestic trade and exporting.
RIAC members actively speak and write about the opportunity Receivables Insurance provides. Read more below.
Trade Partnership Insurance Launched to Bolster Canadian Business Through COVID-19 Impact
Ottawa, ON – May 7, 2020 – The Receivables Insurance Association of Canada (RIAC) is pleased to announce that RIAC members Export Development Canada (EDC), Euler Hermes, Atradius, Coface Canada and The Guarantee Company of North America have collaborated to bring much needed credit capacity to support Canadian businesses impacted by the COVID-19 pandemic.
Trade Partnership Insurance (TPI) is a select buyer reinsurance product that is intended to provide the Canadian-based private credit insurers with additional credit capacity.READ More
RIAC Members and EDC to Support Canadian Businesses Through COVID-19
Ottawa, ON – March 30, 2020 – The Receivables Insurance Association of Canada (RIAC) is pleased to announce that RIAC members, in partnership with fellow RIAC member Export Development Canada (EDC), are participating in the Government’s laudable support for Canadian businesses though the COVID-19 crisis by dedicating their resources to augment the effectiveness of the new EDC powers granted on March 27th.READ More
Canadian Canola Cover Continues
A situation with Canadian Canola in China has been escalating for the last few weeks and this market, that last year was worth $2.7billion dollars to Canadian farmers, is no longer welcoming the product. Exporters of Canadian canola are being told that their product is non-compliant because of harmful pests found in their shipments.Read More at TradeSecurely.ca
The Warning Signs are There
RIAC believes the recent Macleans article “This is how Canada’s housing correction begins” is spot on. Although at this point in time Canadian interest rate growth is in a momentary lull, the threat to the Canadian economy remains at a significantly high level and it all has to do with consumer debt. At $2.16 trillion in mortgage, credit card and other consumer debt – the highest ever – the consumer spending engine that has been driving economic growth in Canada for more than a decade is now stalling.Read More at TradeSecurely.ca
So Your Customer Has Filed for Bankruptcy…Now What?
Every year it seems from the end of January to the end of March is the opportune time for financially distressed companies to file proceedings in order to protect themselves from their creditors. We are already seeing signs that bankruptcy season is upon us in Quebec with the recent notice from the Trustee of Maryse Victoriaville Inc.Read More at TradeSecurely.ca
Helping Canadian Companies Diversify and Grow Securely
In CBC’s coverage of the recent Economic Statement, it highlighted the “…attempt to nudge more businesses into pursuing export markets beyond the United States.” and that the “… goal is to boost Canada’s overseas exports by 50 percent by 2025…”.
RIAC strongly supports this initiative.Read RIAC's Comment
The Topsy-Turvy International Trade Environment
This RIAC article was originally published in the CAIDP Quarterly Bulletin November 3, 2018:
Why Would You Not Insure Your Export Receivables?
Phew – who knew “THAT” was coming?
Definition of “THAT”: US trade wars, Brexit, Trans-Pacific Partnership without the US, Venezuela’s Economic collapse, Clients who delay payments unfairly, Sears insolvency, General Motors insolvency … and so on ….Read the article here
Sears Bankruptcy – What Receivables Insurance did for Policyholders
What a tremendous collapse! Sears was rated AAA as recently as 1980 (and actually was still a very trustworthy A- in the early 2000’s). To put this in perspective, currently there are only 2 companies in the entire US that earn that AAA rating (Microsoft and Johnson and Johnson – to save you time).
Who would ever have thought that bankruptcy would be looming. This icon of US retail went into a tailspin and just never recovered.RIAC Comment
RIAC Chairman in TCS Podcast
RIAC’s Chairman Chris Short discussed the value of RI for Canadian businesses venturing into foreign markets on a podcast with Brigitte Martin, Editor-in-Chief at CanadExport. The Canadian Trade Commissioner Service hosts a regular podcast to enlighten and inform members of the Trade Commissioner Service about business opportunities and services that can help Canadian companies and organizations succeed globally.
RIAC in CONNECT magazine
RIAC co-founder Ian Miller offers his thoughts on how Canadian business can approach the uncertainty of NAFTA. The article was published in the Mississauga Board of Trade’s Winter 2018 edition of CONNECT magazine. Read the article on page 32
The CETA Opportunity
RIAC member GCRM’s President John Middleton discusses how Receivables Insurance (RI) can reduce financial risks, improve cash flows, support credit management and improve sales between Canada and the EU with members of the Canada Poland Chamber of Commerce.
The Broker Opportunity
Graham MacLachlan is one of only a handful of brokers in all of western Canada selling trade credit insurance. His largest competitors are also his suppliers.
It seems an ideal position to be in. The market only has a 20% penetration rate, so there’s a lot more room for growth as well.
The Broker ``Big Secret``
“It’s a great secret”, said David Dienesch about credit insurance. He may have just let that cat out of the bag.
Dienesch, chief executive of Euler Hermes Canada, said credit insurance could be the differentiator that grows an agent’s sales – they just need to get their head around it.
Risk Mitigation Tools
As a business owner what you don’t know can hurt you, and what many Canadian companies may not know is that receivables insurance—also known as trade credit insurance—can go a long way in mitigating the risks associated with exporting to foreign markets, says the Receivables Insurance Association of Canada (RIAC).
L’économie moribonde ralentit l’assurance comptes clients
Alors que l’économie canadienne est au calme plat, l’assurance comptes clients l’est aussi.
« Présentement, les taux sont très compétitifs. C’est le meilleur moment pour souscrire une assurance comptes clients », conseille David Dienesch, PDG, Canada, chez Euler Hermes. C’est lorsque la situation économique se détériore que les taux augmentent, ajoute-t-il.
Protéger l’actif des entreprises
Toute entreprise qui fait affaire avec d’autres entreprises sur une base de crédit à long terme peut bénéficier de l’assurance comptes clients. Ce produit cherche essentiellement à protéger le recevable contre la faillite ou le non-paiement.