Extended cover for companies launched

Hamburg 14 December 2009

In collaboration with the private-sector credit insurers, the German Federal Government has launched a special scheme aimed at shielding German companies more effectively against mounting risks in the current economic environment. Companies with a current policy with Euler Hermes or any other private-sector credit insurer can apply for “Top-Up-Cover” to extend their protection against payment defaults to include risks which are no longer covered by the underwriter on account of the heightened risk. In this is way, it is possible to close the existing gap in insurance cover and to achieve up to 100% cover.

“We greatly welcome the German Federal Government’s decision to come to companies’ aid in this way in the current difficult conditions caused by the financial crisis. “Top-Up-Cover” offers companies a good way of addressing their particular insurance requirements,” explains Dr. Gerd-Uwe Baden, CEO of Euler Hermes Kreditversicherungs-AG, which played a key role in developing the scheme.

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