Euler Hermes Announce New Cap Europe Policy

Euler Hermes have launched a new policy which enables them to write more cover for UK Policyholders

. They do this by writing a policy which mirrors the terms and conditions of you current policy, but allowing you to purchase additional cover which would not normally be available, so either for buyers you have a partial limit on, or limits which have been declined completely, allowing you to trade with buyers that you previously would have had to avoid. There are two types of limit available:

CAP

Matches your current limit (up to a maximum of 1,000,000), charged a 0.5% of the limit value per quarter, for a minimum of 3 months. After this initial period the CAP limit can be kept at a rate of 0.167% per month.

CAP+

For a declined limit, policyholders can apply for a limit of up to 50,000, at a charge of 1% of the limit value per quarter, with the minimum period and monthly option as with the CAP limit above.

UK Credit Insurance have been in business for over 25 years and provide a nationwide specialist broking service to credit insured clients from almost all business sectors. A team with over 250 years of combined credit insurance experience is supported by the most advanced policy management system available the UK Credit TRUST platform.

Essentially "Premium Credit insurance" protects your business against the risk of bad debts, and whether you are seeking a straightforward Whole Turnover policy or a tailor made credit solution we have the knowledge, systems and contacts to make it happen. An agent of all the underwriters based in the London market we also provide Graydon credit reports and have links to sophisticated debt collection solutions.

Premium Credit Insurance or Trade Credit Insurance to give its more correct title (sometimes referred to as business credit insurance) is the combination of an insurance policy with credit management services to protect the seller from the risk of non payment following the delivery of goods or services to another business. Credit Insurance differs from Debtor Protection in that cover is created by the sales action rather than by the submission of the ledger details for finance to a factor or receivables finance company.

by: Emma Keast

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