|
|
|
28 Apr 2009
Atradius has restored credit insurance cover for Insight Enterprises after resolving an apparent misunderstanding over the corporate reseller’s third-quarter results.
The world’s second largest trade credit insurer withdrew Insight’s cover earlier this month, mirroring Euler Hermes’ decision to halve the US-based firm’s cover in early April.
But suppliers of Insight were told full cover had been restored yesterday.
Further reading
Stuart Fenton, president for EMEA and AsiaPac at Insight, argued that Atradius had not interpreted its Q3 results “as well as it could have done”.
“We went through the results with them a couple of times and consequently cover was restored,” he explained.
“None of our partners pulled cover and as a result we have been trading as normal,” he said.
Atradius claims to be the world’s second largest trade credit insurer, with 31 per cent market share.
But Fenton said the debacle was unlikely to have any impact on the stance of Euler Hermes – the credit insurance industry’s largest outfit.
“Euler understood our results well,” he said. “It reduced cover to our level of spend [with suppliers].”
An Atradius spokesman said: "Upon analysis of Insight's 2008 trading figures, we have reviewed our underwriting strategy pertaining to the group and reinstated cover, albeit under slightly different conditions.
"We cannot stress strongly enough the benefits of being as open as possible with your supplier's trade credit insurer. In this case, Insight's ability to explain certain elements of its results helped alter our perspective."
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say