Export Credit Greece, the official export credit agency of Greece, presents the new export credit insurance product Top Up, which comes to address the insurance needs of Greek export companies when the already approved credit limits of the insured company are not sufficient to cover its needs.
The new product of Export Credit Greece operates as a supplement to the existing insurance coverage, according to the credit assessment and the terms of the product.
Essentially, through Top Up, companies acquire additional insurance coverage for their export transactions, without replacing their existing insurance contract. In this way, Top Up further reduces the overall risk exposure for the company and enables export companies to take advantage of more business opportunities with greater security.
How Top Up works
Through Top Up, Export Credit Greece comes to operate in a supplementary manner to the entire credit insurance market. The product does not replace the coverage that a company already has, but offers extended coverage in cases where its needs exceed the approved credit limit.
In practice, Top Up can contribute to:
• covering additional credit limits
• increasing the insured credit sales turnover
• enhancing protection against commercial and political risks,
• facilitating new commercial and export transactions,
• improving access to bank financing through larger insured receivables.
In his statement, Mr. Nikolaos Vagiannis, CEO of Export Credit Greece, said: "With the new Top Up, Export Credit Greece strengthens its complementary role to the private credit insurance market. Through cooperation with insurance companies and insurance intermediaries, we create more opportunities for Greek exporters, supporting the safe development of extroversion and the Greek economy."