Flexible concepts to cover your individual export risks

As an exporter of expensive plant and machinery or valuable commodities, you’ll be well aware of the risks involved in foreign trade. Who guarantees that you’ll be paid what you are owed? Along with the financial risk, political factors can also lead to default – especially when exporting to developing and emerging countries.

Aon has developed bespoke insurance concepts for German exporters and financial institutions, designed to cover the specific requirements of individual customers involved in export sales.

Key benefits

The carefully drafted German policy wordings comply with the requirements of German law. They are accepted by national and international credit insurers and banks. A non-binding English translation is also available.

Unlike under state Hermes cover, German exporters can insure their risks even if the proportion ofm foreign suppliers exceeds 49%. There is no application fee, and premiums are calculated on a flexible basis. Other advantages of private insurance include short processing times and speedy decisions.

Our solutions

• Buyer’s Credit Cover covers the outstanding receivables of the financial institution (lender) against the foreign borrower arising after payment. Risks which can be covered include insolvency or protracted default, as well as currency inconvertibility and transfer restriction risks.
• Pre-Shipment Cover covers production costs incurred before shipment. Risks covered include insolvency, cancellation of the contract, government measures and acts of war.
• Post-Shipment Cover covers the outstanding receivables of the exporter against the debtor arising after shipment. This includes insolvency, protracted default and currency inconvertibility and transfer restriction risks.
• Easy Export Cover is an easy and quick alternative to the classical post-shipment cover. Only one insured event applies – the non-payment risk in case of overdues – irrespective if based on political and/or economic grounds. The claims settlement generally takes place 180 days after due date.
• Contract Bond Insurance protects exporters against losses due to the calling-in of bonds for political or unlawful reasons (fair/unfair calling), for bid, advance payment bonds, performance bonds and warranty bonds.