The Covid-19 crisis faces companies with major challenges. We bundled all economic updates and insights for you on our dedicated Covid-19 page. We answer some frequently asked questions about the crisis below.
The following applies to all policyholders until 31 May 2020:
- Notifications of overdue payments or postponement of payment of outstanding invoices by the debtor can be submitted as long as the new payment date remains within 60 days after the expiry of the original overdue period.
- Postponement until 30 days before filing a claim.
- For all claims up to 500,000 euros.
- Only in case of protracted default, not for insolvency.
Any deviation from these rules will be assessed on a case-by-case basis and submitted to the responsible teams. A further postponement of these deadlines is not expected.
In some situations, the coverage of your credit insurance is not sufficient to fully cover transactions with some buyers. This is where our CAP product offers a solution. You will obtain additional coverage against specific conditions, linked to your insurance.
You can find more information about our CAP product on our customer portal MyEH. Of course, you can always contact your account manager or our customer service with your questions.
Following an agreement between the Belgian federal government, Assuralia and private trade credit insurers that was negotiated under the aegis of the National Bank of Belgium, the authorities will set up a support mechanism in form of a guarantee scheme. In this way, Euler Hermes is committed, together with the government, to helping Belgian companies to overcome this crisis of unprecedented proportions.
Thanks to this support scheme, credit insurers can continue to pursue their mission of securing business-to-business (B2B) trade and to extend their support to the Belgian economy. Trade credit insurance underwriters will be able to maintain credit lines as much as possible to Belgian companies, allowing them to continue to pursue commercial transactions. While the risk of non-payment remains, you can cover yourself against it through credit insurance. In the event of non-payment, we will pay out an amount based on the policy conditions.