A consultation on the methodology D&B use to calculate insolvency risk scores was launched in December last year.
A range of new services for levy payers were launched in parallel with the consultation. The feedback on these -including a new portal to view insolvency risk scores, a new levy section on the PPF website, new ways to respond to consultations and new communication channels - was positive. It will be used to further improve services, such as releasing new portal functionality.
Respondents were also largely supportive of the PPF’s consultation proposals on the insolvency risk model, including D&B’s approach to the construction of financial variables and corporate linkages. The proposals to maintain the current model subject to some improvements to address levy payer concerns were largely welcomed.
The policy statement confirms that the methodology used in live scoring will be broadly as consulted on. The statement also sets out the detailed analysis undertaken on points raised by respondents.
Levy payers have also been actively checking their scores and raising queries with D&B since the consultation was launched. This has enabled D&B to calculate insolvency risk scores for the vast majority of employers and the proportion of employers that have the same levy band as with Experian has significantly increased as a result.
David Taylor, Executive Director and General Counsel at the PPF commented: “We are extremely grateful to our stakeholders who have taken time to give us feedback and to the members of our Industry Steering Group and SME Forum for helping us to reach this point. The services we now offer are much enhanced as a result of their input.”
Levy payers have been encouraged to continue to check the information held by D&B is correct and to raise any queries with them.
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