Simplicity

A Trade Credit Insurance product of Euler Hermes Hellas, which Piraeus Bank proposes through its network, with the aim of offering to the Bank’s current corporate clients protection against the non payment risk of their receivables.
WHAT IT COVERS

The product is designed for Micro - SMEs in order to cover them from the non payment risk of their receivables:

  • in the event of ‘Proven Insolvency’ 
  • ‘Protracted Default’ of their buyers
DURATION
Annual

With automatic renewal

PREMIUM PER YEAR
Frequency of payment selection:

Yearly

Semesterly

Quarterly
OTHER FEATURES
Covered Sectors

  • Chemicals, Pharma
  • Food, Catering Services
  • Computer, IT Services
  • Household
  • Transportation Commodities
  • Textile, Packaging
  • Plastic, Paper
  • Automotive Industry
WHAT IT COVERS

The product is designed for Micro - SMEs in order to cover them from the non payment risk of their receivables:

  • in the event of ‘Proven Insolvency’ 
  • ‘Protracted Default’ of their buyers
DURATION
Annual

With automatic renewal

PREMIUM PER YEAR
Frequency of payment selection:

Yearly

Semesterly

Quarterly
OTHER FEATURES
Covered Sectors

  • Chemicals, Pharma
  • Food, Catering Services
  • Computer, IT Services
  • Household
  • Transportation Commodities
  • Textile, Packaging
  • Plastic, Paper
  • Automotive Industry

How you benefit


The product is designed for Micro - SMEs with Annual Insurable Turnover up to 2.000.000€

  • The product is addressed to the companies which have buyers in the following covered countries: Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, U.S.A.
  • Simple policy language
  • Risk mitigators in place
  • Minimum administration cost
  • Company’s protection against bad debts
  • Company’s cash flow reinforcement
  • Maximization of debt collection probability

Coverage

Basic coverage

Company’s buyers are covered at the Basic coverage (70% of the claim value), up to the Maximum Liability per Buyer for deliveries or services supplied and up to the amount of the Annual Maximum Liability per Policy, and as long as they are not already in a past due situation

Advanced coverage

In case that the company needs an increased coverage on a buyer beyond the Basic coverage - 70% - then the company can request for Enhanced coverage - 90% - submitting a request.

Premium Payment

The Premium Payment will take place by standing order through your bank account.