Credit insurance for large enterprises

with a debt collection option is addressed at large enterprises dealing with credit-based sales of goods or provision of services in Poland and abroad.

What is the subject and scope of credit insurance?

Indemnity is paid to the Policyholder on account of unpaid receivables for deliveries and services with a deferred payment date of up to 180 days (i.e. trade credit). Insurance covers unquestionable and undisputable receivables up to the amount of:

- the discretionary limit in the case of customers rated by the Policyholder,

- the set credit limits in the case of customers verified by Euler Hermes, who have received a rating.

Trade credit insurance can cover transactions with business partners having their registered offices in the following countries: Andorra, Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, Iceland, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, New Zealand, the Netherlands, Norway, Poland, Portugal, San Marino, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, the United States of America.

What are the advantages of this product?

Bearing the risk of insolvency of other business entities is not the operational objective of manufacturing or trade enterprises. This means that transferring the above risk to the Insurer being a company with appropriate know-how to control it, is by all means natural and economically justified. Moreover, trade credit insurance provides the Policyholder with a number of additional benefits.

Basic principles of credit insurance

Preparation of a credit insurance offer for a company dealing with credit-based sales is possible after the prospective Policyholder sends a completed Preliminary Declaration to Euler Hermes.

Costs

Insurance premium is calculated based on the amount of insured turnover and the insurance rate expressed as a percentage fraction representing the resultant of the risk in the industry in which the Policyholder operates.

Additional costs constitute the fees for the rating of the Policyholder’s customers and the monitoring of their financial standing for a period of 12 months.