Export Credit Greece, Greece’s official export credit agency, is introducing its new export credit insurance product, Top Up, designed to address the insurance needs of Greek export companies when the insured company’s existing approved credit limits are insufficient to cover its needs.
Export Credit Greece’s new product operates as a supplement to existing insurance coverage, in accordance with the credit assessment and the terms of the product.
Essentially, through Top Up, companies obtain additional insurance coverage for their export transactions without replacing their existing insurance policy. In this way, Top Up further reduces the company’s overall risk exposure and enables exporting companies to take advantage of more business opportunities with greater security.
How Top Up Works
Through Top Up, Export Credit Greece serves as a complementary solution to the broader credit insurance market. The product does not replace the coverage a company already has, but offers expanded coverage in cases where its needs exceed the approved credit limit.
In practice, Top Up can help:
• covering an additional credit limit
• to increase the insured credit-based turnover
• to strengthen protection against commercial and political risks,
• facilitating new trade and export transactions,
• improving access to bank financing through higher insured receivables.
In a statement, Mr. Nikolaos Vagiannis, CEO of Export Credit Greece, said: “With the new Top Up, Export Credit Greece is strengthening its complementary role to the private credit insurance market. Through our collaboration with insurance companies and insurance intermediaries, we are creating more opportunities for Greek exporters, supporting the secure growth of Greece’s export-oriented economy.”