1/6/2009
By Sophie Baker
Aon Trade Credit UK is pushing out of the UK by launching an international team to support global companies in managing their receivables more proactively to prevent bad debt.
The credit insurance broker is following Aon's Global Risk Management Survey which named liquidity one of the top ten risks for global companies in 2009.
The new team will be assisted by placing global credit insurance programmes centrally in order to provide cover for bad debt that occurs through customer insolvency, allowing for consistency and efficiency. This will run alongside ensuring the parent company keeps in line with corporate governance. Daily advice on changing credit limits, with input from a global team of 400, and supporting insurance cover with knowledge on the risk profile of customers will also run alongside and support the new team.
"Global CEOs and risk managers face the challenge of grasping not only how their company is operating in several countries but also the health of their customers," commented Andrew Child, who will lead Aon Trade Credit as head of the international team in the UK. "Bad debt could spiral from one country to hit the countries but also the health of their customers. Bad debt could spiral from one country to hit the parent so international businesses need to adopt a more sophisticated way of monitoring cash flow. In response, our team has evolved to provide a global outlook with local contact."
The launch forms part of Aon Trade Credit's strategy to specialise in the SME, corporate and global sectors, with industry expertise in construction, paper, media, electronics, steel and food and drink.
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