Euler Hermes

Glossary

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z
Broker

An independent intermediary who canvasses companies in order to offer them a credit insurance policy or factoring agreement. Brokers advise policyholders during the implementation of the policy or agreement and in its day-to-day administration. ​


Claim

Situation in which a risk is realized. This entitles the policyholder to compensation and triggers the compensation mechanism provided for in the credit insurance policy​

Credit insurance

A technique whereby a company protects itself against the risks of non-payment of its trade receivables.​


Insolvency

Legally recognized incapacity of the debtor to meet his or her commitments and, as such, to pay his or her debts.​


Policy

Credit insurance contract between Euler Hermes and the policyholder.​

Premium

Amount paid by the policyholder to the insurance company in exchange for risk coverage. A distinction is made between: written premiums: the amount billed dur​ing the period to cover the risks under the contract; and earned premiums: the portion of the premium written during the period or earlier corresponding to the coverage of risks during the period concerned.​​

Prevention

Process by which the policyholder may, based on information provided by Euler Hermes on the solvency of its customers, select its customers and reduce its own losses.​

Proprietary information

Information prepared by Group companies and owned exclusively by Euler Hermes. It is a guarantee of the service quality offered to its clients.​


Receivables management

Suite of services offered to companies aimed at ensuring the collection of receivables after invoicing to the debtor and up to the litigation phase, where applicable.​


Sums recovered

All collections after indemnification, when the insurance company takes over the policyholder’s rights to receivables that are insured and have been indemnified.​