MONTREAL, Feb. 4 2008 – Euler Hermes Canada, a company of Allianz and Canada’s leading private credit insurer, has today launched a new Credit Insurance policy today designed with smaller or starting businesses in mind.
The new policy is a radical departure from the standard policy in that it eliminates the majority of administration and reporting obligations of standard Credit Insurance policies.
Euler Hermes Canada’s CEO, Paul Flanagan, explained the thinking behind the new policy :
- “Most Credit Insurance polices are designed for larger companies who have the resources to handle the administration involved in policy management. However smaller businesses do not have the infrastructure of larger companies and so they have not found the standard offering suitable. Our Trade Secure policy eliminates most of the administration and all of the reporting requirements. In addition, the innovative pricing structure lets small businesses pay only for the cover they need and when they need it, giving them total control over the cost.
- I’m confident that this new product will make Credit Insurance available to a population of smaller businesses previously excluded and offer them the protection they need.”
If you would like to know more about Euler Hermes Canada and our Trade Secure insurance and would like a free quote, please download our Trade Secure application form at www.eulerhermes.ca and return it to us completed.
About Euler Hermes
Euler Hermes is the worldwide leader in Credit Insurance and one of the leaders in the areas of bonding, guarantees and collections. With 6,000 employees in 50 countries, Euler Hermes offers a complete range of services for the management of B-to-B trade receivables and posted a consolidated turnover of 2.01 billion euros in 2006. Euler Hermes, subsidiary of AGF and a member of the Allianz group, is listed on Euronext Paris. The group and its principal credit insurance subsidiaries are rated AA- by Standard & Poor’s.
With more than 80 years of experience, Euler Hermes Canada is the first private trade credit insurer in Canada and offers both domestic and export trade credit insurance in more than 200 countries. For more information visit: www.eulerhermes.ca.