EULER HERMES: expands the services of credit insurance in the United States with specialized excess loss (XoL) Team
XoL solution, Euler Hermes offers a comprehensive protection and multinational losses on open claims. The Directive sets limits non-cancelable coverage, customer group, a full-service credit limit, and local politics of foreign subsidiaries. Euler Hermes XO customers will benefit from the comprehensive database of the company's more than 40 million customers and local underwriting presence in 50 countries.
In addition to protecting against loan defaults, the XO can effective policy instruments to help companies generate receivables based financing. The certainty of a non-cancellable coverage can companies more attractive to lenders and may improve the loan.
"After the success of the policy XoL in other countries and increased demand in the U.S. market, we believe that a team of specialists for our multinational customers with excellent and valuable new ways to safely and successfully grow," said Jochen Duemler, Managing Director and Head of Euler Hermes Americas. "We can help companies improve efficiency and manage its balance sheet credit risk through tailored programs and a network of strategic risk subscribers in 50 countries around the world."
Director John Pellew head XoL (Americas) become and bring together nearly 30 years of commercial lending and underwriting experience, Euler Hermes World Agency join. The underwriting team - which has combined experience of almost 70 years - is also Todd Lynady whose experience includes credit insurance contracts and risk analysis of domestic and foreign credit for Fortune 500 companies, Tom Constantine, a lawyer with experience in the management of credit risks complex in many countries, and Peter Farrell, an insurer who has made an analysis of the credit, trade credit from several short-term buyers and customers can use against political risks.
"By offering insurance XO by an experienced team in the U.S. options, we are able to provide flexible and innovative solutions for our customers and partners," said Arjan van de Wall brokers, Regional Director of Euler Hermes World Agency (Americas). "Contain XoL adjusted our full range of credit solutions are trade credit insurance, debt, risk mitigation and transaction coverage of political risk and trade finance."