Global credit insurance policy for international companies based abroad also operating in Israel
International companies based abroad and operating in Israel will now also be able to enjoy the advantages of global credit insurance policies in Israel.
The global credit insurance policy offered by Euler Hermes, the world’s largest credit insurer and one of the owners of ICIC , the Israeli Credit Insurance Company, will enable the head office of international organizations to sign a comprehensive credit insurance agreement for all their subsidiary companies operating in different countries. These companies will, on the one hand, be able to make use of the advantage of size and obtain improved terms of insurance for their operations all over the world under one global policy, and, on the other hand, they will also be able to receive those insurance services from the local insurance companies operating in their subsidiary companies’ countries.
Euler Hermes is considered to be the world’s largest credit insurer. The company, which operates in more than 50 countries, has a market share of approximately 36% of the world credit insurance market, insuring transactions of approximately 850 billion euro per year.
The credit insurance ensures that the supplier will receive his money even in the event of non-payment by the clientdue to insolvency, financial difficulties or a political eventin the client’s country that prevents payment.
As of April 2010, large multinational companies operating in Israel will also be able to enjoy the benefits of the Euler Hermes global policy, through the services of ICIC in Israel.