Trade credit insurance specialist Prasidium has joined Insurance Brokers Network of Australia (IBNA).

The expanding business, previously an authorised representative of Insurance House, has also aligned with global credit insurance broking network Astreos.

Prasidium’s principals are Stuart Prendergast, Mark Smith, Mark Browning and Paul Daniele, and the group has offices in Sydney, Melbourne and Brisbane.

Mr Prendergast says demand for trade credit insurance is rising amid tighter lending conditions and more insolvencies.

“Credit insurance is really at the forefront of a lot of businesses risk mitigation programs,” he told insuranceNEWS.com.au.

IBNA, which represents more than 90 independently owned and operated members, who place more than $1.3 billion of gross written premium annually.