ICISA Answer- BIIA – Survey JAN11

As part of an annual survey of credit managers and underwriters BIIA feels the pulse of the user community. The outcome of this survey will be discussed in the BIIA Business Information Forum 2011 (see banner ad on our home page).  As a preview here are comments from the underwriter community:

BIIA Question:  Are credit information tools and rating services sufficient to manage credit post credit crisis?

Answers: 

In regard to credit information & solutions underwriters commented as follows:  “Credit information tools are indicated as not sufficient to manage credit post credit crisis. In particular it is indicated that balance sheet information is usually is too old and therefore not sufficient to analyze the present situation.”

On rating services the comments were as follow:   “Credit ratings need to change faster. It is indicated that these do not change fast enough. An independent European credit rating agency would be welcomed.  The crisis also showed us that the forecasting capabilities of credit rating agencies have to be read with caution.”

To read the entire survey outcome click on the attachment above.

BIIA thanks ICISA (International Credit Insurance and Surety Association for making this survey possible