Cash Flow Problems

“Pick up card! Pick up card!” intoned the computer. Unlike other messages, this never means a typing mistake, but I re-entered the numbers and heard the same announcement.

Wearily, I phoned International Assistance to explain that their credit card had been rejected. The dispatcher put me on hold for several minutes before returning with another card number. In the past, I’ve gone through several before hearing the computer’s approval, but this one worked, and I left for the hotel.

International Assistance insures travelers from Latin America. It’s sent me on nearly 900 housecalls since the 1980s. It was always a slow payer, but since the turn of the century it began requiring months of pestering before sending a check. Finally I lost patience and demanded that it pay by credit card. Although credit cards charge about six percent of my fee, they’re a big convenience. I punch in a series of numbers; two days later money appears in my bank account.

Slow payment usually means an organization is struggling. It’s maxing out its credit cards and getting them cancelled but keeping others in reserve. A few have gone out of business, owing money, but International Assistance has been irritating doctors for decades; many colleagues refuse its requests. It’s the oldest of half a dozen travel insurers that call me, so this may be a reliable tactic for minimizing cash flow.