Aon Trade Credit becomes international
1 June 2009
Written 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.
