The corporate insolvency rate in Canada hit a 20 year low in 2020! Government aid programs kept many Canadian businesses afloat! Globally, corporate insolvencies declined in all regions in 2020 (-22% in the Eurozone, -19% in Asia Pacific, and -3% in North America(source-Coface)) Government support plans clearly worked, and when these programs begin to evaporate -well what then? The insurers are anticipating increases in global insolvency rates in the latter part of 2021 and into 2022 but this will be impacted by the ability of governments to vaccinate their populations and achieve herd immunity. One might compare it to a game of musical chairs. Currently the music is playing in the form of government subsidies and companies are surviving, but soon the music will stop and you have to wonder which companies will fall to the floor?! Time will tell, but one thing is clear, there has never been a better time to invest in credit insurance! We are here to help you navigate the choices and optimize your coverage.