The term credit insurance or also Delkredere-Versicherung is easy misleading will not be able to clear away here nevertheless not credits in the actual sense, as insures real estate credits or bankers' loan, whereby the applicant for the credit insures itself here against it, the credit. Contrary to such insurance products, which are called generally Restschuldversicherung or credit loss insurance, the loss of demands is with goods deliveries or services the subject of the insurance protection during the credit insurance, why in the last years also more and more was established the term demand loss insurance. Here the credit giver secures itself.

Derivation of the term

The term credit insurance deduces itself from the circumstance that between the supply to a commodity of an enterprise because of another and/or the contribution is to a service and their payment a temporal distance (usually between 30 and 180 days). The supplying enterprise grants thereby up to the final payment a credit as it were. These so-called credits granted by suppliers amount in Germany after instructions Euler Hermes credit insurance AG annually to approx. 300 billion euro.

Historical background

Each enterprise, which supplies a commodity or furnishes a service on calculation, must secure itself in relation to the risk of a remaining unpaid demand. If the removing enterprise comes into this can lead fast - depending upon height of the pending demand - to financial problems up to the insolvency of the own enterprise. The credit insurance takes over thereby not only the remuneration with a demand loss, but also the credit rating of the removing enterprises at home and abroad. With Hermes credit insurance bank corporation (today Euler Hermes credit insurance AG) was created for the first time in the year 1917 in Germany an insurance company specialized in this topic. Objective was, the insurance sections consumption credit insurance, bail insurance and confidence indemnity insurance, which were offered up to then isolated by large insurance companies to bundle around the enterprises competent protection from to bieten.1923 the Rheini warranty bank bail insurance share company was based, which specialized first exclusively in the bail insurance. Beginning of the 60's followed in the course of a Umfirmierung to general credit insurance the corporation (today Coface AG) also the Warenkreditversicherung.1954 created the Gerling the Gerling special one (today Atradius), which likewise specialized in the topic credit insurance.

Forms of the credit insurance

During the credit insurance the forms consumption credit insurance, with which demands from supply and achievement are secured, and capital goods credit insurance can be differentiated. They secure the economic risk. Political risks can be secured by the export credit warranty (Hermes endorsement or Hermesdeckung) the Federal Republic of Germany.

Associated insurance forms

Among the further surrounding field of the credit insurance ranks still the consumer loan insurance, which addresses itself however exclusively to credit institutes for example to the security of Dispo or installment credits of private people. It plays an increasing meaning in times of increasing unemployment, as the increase of appropriate judicial decisions shows in this segment. In this extended surrounding field also the bail insurance is to be settled, which functions similarly as a bank guarantee or a bank guarantee.

Still the confidence indemnity insurance is partly called, whose affiliation to the credit insurance can be derived however probably only from the fact that this product is usually offered by the credit insurance enterprises.

Credit insurance enterprise

Coface DeutschlandAtradius credit insurance Euler Hermes credit insurance AGR+V insurance Winterthur Switzerland credit insurance Zurich insurance AG (Germany) OeKB insurance AG (Austria) see also: Factoring, forderungsbesichertes security (eat backed security), del credere

Articles in category "Credit insurance"

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