TRADE CREDIT INSURANCE

That this House notes with concern the widespread withdrawal of credit insurance and the adverse effect that this is having on businesses of all sizes; further notes that trade credit insurance protects business against not being paid and that Woolworths collapsed in part due to the removal of credit insurance; further notes that about two thirds of credit insurance companies are small businesses that are finding it increasingly hard to access insurance; and calls on the Government to address this matter urgently to ensure that the tens of thousands of sound companies who are struggling to secure insurance do not collapse during this recession.