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Euler Hermes offers longer duration insurance for large orders PDF Print E-mail
Wednesday, 15 November 2017
Businesses wanting to protect themselves against non-payment of large individual orders they will deliver up to three years in the future can now turn to Euler Hermes, the world’s leading trade credit insurer, which is offering insurance against bad debts for this type of risk.

EH Cover One also insures businesses against work-in progress costs if they are unable to supply contracted goods or services if their client is unable to pay. Up to 90 per cent of the insured loss is paid out in the event of a claim, plus the insured can have any outstanding balance with no minimum or maximum value. Cover One is available with or without trade credit insurance (TCI).

Milo Bogaerts, CEO Euler Hermes UK and Ireland, said: “Businesses should be free to take on new orders and develop export markets, but extended delivery and payment terms can also bring increased financial risk. EH Cover One offers firms a simple solution to protect their longer duration work on a case-by-case basis, providing management with the reassurance to invest and not miss out on opportunities for growth.”

Offering ‘medium term’ insurance cover for non-payment of bad debts for a single large risk to mid-sized and smaller firms is a recent development in the TCI market. Traditionally it has only been available as a bespoke policy to large corporations through Lloyd’s of London. However, Euler Hermes has used its wholesale market expertise to develop EH Cover One for mid-sized and smaller businesses. Standard TCI policies tend to cover short term risks (less than 12 months) on a whole turnover basis, which is more suitable for everyday business activity.
 

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