MMTA in follow-up meeting with Euler Hermes UK
The Minor Metal Trade Association Credit Insurance Focus Group met with Euler Hermes UK on Wednesday 16 June 2010, to follow up on the first such meeting which took place in February 2010. The MMTA delegation comprised Roy Walton of Darton Commodities, Neil Poulter of Wogen, Steve Hawkins of Lipmann Walton and Phil Simmons and Rob Bolton from the specialist credit insurance broker AON and MMTA Executive Roland Chavasse. Euler Hermes UK was represented by Paul Oxley Assistant Director Risk Underwriting and Shannon Murphy Risk Underwriting Manager Metals.
Euler Hermes took the opportunity to update the MMTA on progress and in particular reported that over 6000 pro-active limit decisions were issued in Q1 2010 and that the customer satisfaction rate on limit applications in 2010 remained at high levels. It was acknowledged that more credit cover was now being made available. The MMTA delegation noted that a number of customers on which credit limits had been withdrawn were now again being covered albeit some at lower levels than previously. Euler Hermes reported that the improved communication and flow of relevant and up to date financial information between their underwriters and MMTA Members' customers was making it possible to make better and more appropriate underwriting decisions. It was agreed that this was a good outcome for the MMTA and its Members' customers, as it was more likely that more cover could be made available with full financial disclosure. Both parties agreed that MMTA Members should be encouraging their customers to maintain regular contact directly with the relevant Euler Hermes analyst or underwriter on a confidential basis.
