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28 Jul 2008
Credit insurers are remaining tight-lipped on their plans for the channel as trading conditions head into the usual summer dip.
Euler Hermes sent shockwaves through the channel when it pulled cover from Bell Micro Europe last week, but has refused to comment on the reasons behind its decision.
The other major industry player, Atradius, also declined to comment.
Further reading
Speaking to CRN earlier this week, Graeme Watt, president of worldwide distribution at Bell Micro, said Euler’s decision will have a minimal impact on business.
“Our day-to-day business in Europe continues to operate totally normally and we have just concluded our strongest bottom-line performance for two years,” he said.
However, other industry watchers have slammed Euler’s actions.
Nitin Joshi, founder of advisory service ChannelMoney, said: “It does not help when credit cover is withdrawn overnight. These firms should help come up with a solution instead of just backing off.”
Matthew Poyiadgi, EMEA vice president of CompTIA, said: “It is time for firms such as Euler to be more supportive of the channel. This kind of action causes an avalanche of scaremongering, which is unfair.”
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