PressNewsBusinessInsurance: Euler Hermes launches Advanced Payment Protection for UK businesses

Euler Hermes launches Advanced Payment Protection for UK businesses

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich
Germany

Contact overview

Receive the latest Allianz news.

Newsletter

Follow Allianz in the social networks:

Facebook
Twitter
Google+
LinkedIn

  • Contact

  • Newsletter

  • Social Media

Euler Hermes, the world’s leading trade credit insurer, is launching Advanced Payment Protection (APP) to help businesses protect themselves against non-delivery of pre-paid goods and services.

Allianz SE
London, May 17, 2017

As the United Kingdom negotiates its exit from the EU, Euler Hermes believes protection against non-payment and non-fulfilment of contracts will become increasingly important due to greater supply chain volatility.

The risk is particularly relevant for industries where advance payments are commonplace -- such as the pharmaceutical and media sectors -- and for businesses concerned about purchasing from new suppliers or those outside their core operations.

Allianz-UK_flag

Melissa Dowle, commercial director, Euler Hermes UK and Ireland, said: “Companies which both pay suppliers ahead of delivery and offer credit terms to their customers are particularly vulnerable to the domino effect of payment defaults at both ends of the supply chain.  This is especially important when seeking new suppliers in new markets in today’s uncertain world. Extra support can help these businesses avoid the financial risks associated with late and non-payments.”

APP is an insurance policy that reimburses businesses if pre-paid goods or services are not delivered and no refund is available, typically as a result of protracted default, supplier insolvency or political risk. It can also help firms benefit from advance payment discounts, and protects agents paying a supplier on behalf of a third party.

Cover is available for up to 12 months, to protect either a single or series of contracted pre-payments. It is suitable for businesses of all sizes, is not dependent on customer type, market sector or whether a trade credit insurance policy is already in place.

About Euler Hermes

Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of bonding, guarantees and collections. With more than 100 years of experience, the company offers business-to-business (B2B) clients financial services to support cash and trade receivables management. Its proprietary intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92 percent of global GDP. Headquartered in Paris, the company is present in over 50 countries with 5,800+ employees. Euler Hermes is a subsidiary of Allianz, listed on Euronext Paris (ELE.PA) and rated AA- by Standard & Poor’s and Dagong Europe. The company posted a consolidated turnover of 2.6 billion euros in 2016 and insured global business transactions for 883 billion euros in exposure at the end of 2016.

www.eulerhermes.com

  Further Information

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

  Press contact

Adrian Russell
Euler Hermes UK
Phone: +44 20 7860 2728

Send email

  More at allianz.com

Allianz brings renowned ‘Digital Insurance Agenda’ summit to Munich

Allianz-Allianz brings renowned ‘Digital Insurance Agenda’ summit to Munich
Jul 28, 2017 | Allianz SE

Munich will play host to the renowned Digital Insurance Agenda (DIA) for the first time through the efforts of Allianz, one of the driving forces behind the new InsurTech Hub Munich consortium. The must-see event on InsurTech and innovation will take place on November 15 and 16, 2017 at the Eisbach Studios.

More...

Hailing down a plane

Allianz-Hailing down a plane
Jul 27, 2017 | Allianz SE

Wingly, a flight-sharing platform for small aircraft supported by AGCS, has taken carpooling aerial, connecting passengers with civil pilots looking for more air time...

More...

Allianz, EDF Invest and DIF acquire 6.94 percent in Autostrade per I’Italia

Allianz-Allianz, EDF Invest and DIF acquire 6.94 percent in Autostrade per I’Italia
July 26, 2017 | Allianz SE

A consortium made up of Allianz, EDF Invest and DIF has completed the acquisition of a 6.94 percent stake in Autostrade per I’Italia, the largest Italian toll road network which is majority owned by Atlantia, the listed global operator of motorway and airport infrastructure. This is an increase from the binding agreement to acquire a 5 percent shareholding announced in April 2017 by use of a call option to acquire additional shares.

More...
More...