New credit insurance for exporting companies
A new framework agreement is available for FHI members. It concerns the HBR credit insurance, provided by Coface. FHI members receive discounts on premiums and more favourable conditions. The need for credit insurance is mainly present among companies that export to countries outside the EU.
HBR Branche Verzekeringen, the specialized insurance company that already provides numerous collective framework agreements for FHI members, has purchased the new framework insurance from Coface. This originally French company specializes in risk management and credit insurance.
Ruud Rooker, commercial manager of HBR Branche Verzekeringen, describes the advantages of credit insurance: “With credit insurance, you exclude a certain risk. You can view credit information before closing a deal. If you do business and it goes wrong, you can insure the orders for a certain amount. This is usually 75 percent of the value of the order. If the party in question can no longer meet its payment obligations, for example because it goes bankrupt, you will still receive an amount.”
The need for credit insurance is particularly present among companies that export to countries outside the EU. As an example, Rooker mentions an FHI member with plans to supply a machine to the University of Moscow. This happened at a time when the Dutch government was considering an export ban to Russia. Rooker: “We then took out a tailor-made credit insurance. The political risk was also insured in this.” The export ban never came, but the risk was covered.
Nederlands