Euler Hermes is launching CAP Europe in the UK market - a new and innovative credit insurance product that enables businesses to receive additional cover up to a £1 million for exceptional transactions.
CAP Europe is designed for all customers trading with more difficult risks and markets, often internationally.
“We are pleased to be able to offer CAP Europe to our customers requiring additional cover for exceptional and short-term transactions that may not be covered under their existing credit insurance policies,” explains Lukas Neckermann, Commercial Director, Euler Hermes UK. “Following Euler Hermes recent European structural reorganization, we are now able to underwrite additional exposure from a larger capital base. We can provide limits where cover may not have previously been available and/or increase levels of cover on existing buyers.”
CAP Europe is available in two formats:
- CAP Europe – additional cover on an existing policy that adds 100% to the current cover in place, up to a maximum of £1 million additional cover per single buyer.
- CAP Europe Plus – up to £50,000 of cover on risk that has been previously declined.
Customers can tailor the duration of the additional cover to their requirements. Premiums are payable monthly, only for as long as the additional cover is in place, subject to a three-month minimum. Additional cover is available for as many buyers as required per month, during which premiums are based on the highest level of additional cover taken out for each buyer in a given month.
Neckermann concludes, “We believe CAP Europe enables many customers to capitalise on opportunities for new business and growth. The UK launch of CAP Europe is consistent with our commitment to listening to our customers and brokers during this difficult economic period, and developing innovative products and solutions that respond to their needs”.