Analysis of companies’ bankruptcy in Poland as compared with the cost of protection under trade credit insurance

The phenomenon of company bankruptcy is in fact an inherent element of market economy functioning which is due, among other things, to the high level of competition on the market. Considering the fact that the vast majority of companies conduct their activities with the use of trade credit, there is a significant risk of financial problems when creditors fail to pay their receivables in a timely manner. The purpose of the paper is to analyze the phenomenon of bankruptcy in Poland, and to identify the relationship between the scale of bankruptcy and the cost of securing receivables with the use of trade credit insurance. The research that enabled to achieve the set purpose was conducted on a sample of 8223 entities operating in Poland in various sectors of economy. The study was carried out in two stages by means of basic descriptive statistics, and the results were analyzed by means of the Kruskal Wallis ANOVA test and Spearman's rank correlation. The research has shown that there was a high level of dependence between the change in the amount of gross written premium on trade credit insurance and the number of bankruptcies in the construction sector.