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Euler Hermes

Glossary

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Bond

A bond is a negotiable debt security representing a fraction of a loan issued by a company, public sector entity or state. Bondholders are repaid before shareholders if the issuing company goes bankrupt. However, bondholders are not entitled to any of the rights attached to shares (rights to earnings and the right to manage the company via voting rights).​​

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.​