Data sharing an attempt to reduce risk associated with company insolvencies
Trade credit insurer Euler Hermes is taking part in credit circles, in which firms share market data – such as their record of paying suppliers on time – to reduce risk.
Euler Hermes chief Fabrice Desnos said: “We take part in some of those circles. They are always very useful.” He said the recession was “clearly not over”. “We expect the number of insolvencies and companies put into administration to increase next year,” he added.
Meanwhile, trade minister Lord Davies said small exporters will be able to secure trade credit insurance from an expanded Export Credit Guarantee Department.
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