by operating in the same local context and culture as customers. The World Policy is central to every World Program. Written in plain language it is easy to understand and comply with. It can be issued in multiple languages and is adaptable at both central and local level under the auspices of a Master Agreement, the framework for the entire World Program. In addition to covering insolvency and delayed payment, the World Policy provides cover for various causes of Political risk, such as revolution, insurrection, civil unrest, terrorism or war, governmental expropriation or confiscation of assets, governmental frustration or repudiation of contracts, inconvertibility of foreign currency or the inability to repatriate funds. The aim is to implement robust, effective programs that underpin and strengthen credit management infrastructures supporting


As an integral part of the World Program customers have use of The Management Tool Box; a secure risk management information system that is updated daily. It provides detailed insight into the credit risk managed under the program by allowing direct access into the Euler Hermes risk platform. It allows sharing of the unique Euler Hermes grading model, facilitating consolidation of exposure and tracking trends at group or local level across buyers, countries and sectors. In addition via Smartlink, Euler Hermes can provide a synchronised, electronic interface to exchange payment data and integrate accounting systems with customers. There are several services available ranging from limit application and response to reporting of potential claims. This automation and flexibility ensures the World Agency is delivering operational efficiencies to customers through time and cost savings.


When can the World Agency support my business strategy?


You have expanding operations around the world and need a global solution • You need a tailor-made program • You need high level risk coverage/capacity • Your servicing requirements demand local delivery but you want the benefits of economies of scale and harmonisation • You need the same contractual terms across all countries with local flexibility • You need detailed, real-time management information about risk • Your global environment is highly competitive and you need a strong and stable AA- rated partner.


risk management and risk transfer. No two World Programs are the same as all are tailored to echo the specific requirements of each multinational. Prior to working with a customer, significant time is spent examining their particular needs and demands, sculpting a program that moulds exactly to their requirements. The World Agency helps multinationals to integrate and grow in new and emerging markets as customers seek cover at ever increasing levels. Multinational businesses are increasingly involved in complex credit arrangements. Via the Euler Hermes risk service, customers are provided with consistent underwriting and know with confidence that strategic relationships can be built throughout the supply chain. The trade sector risk teams at Euler Hermes are experts in commercial counter party and country risk. The Euler Hermes global risk database is continuously refreshed with forward looking proprietary information. This places the Risk Underwriters in the best position to anticipate turns in the credit cycle and the probability of customer default. In addition, each customer is allocated a World Program Risk Director who has pro-active autonomy to authorise decisions in the context of the overall commercial relationship.


In order to give the broadest product range available Euler Hermes has two closely aligned Special Products Units within the World Agency managed by specialist risk teams. The Transactional Cover unit is focused on the political risk market, providing a range of products and services to complement the World Program. These include but are not limited to medium term policies (up to 8 years) providing export and import cover, specifically prepayment and supplier default and bank products for trade and corporate finance transactions. Cover can be written on a portfolio or single situation basis. Unfair calling of contractual bonds is also covered, along with protecting advance payment bonds, performance bonds and retention bonds. The second specialised unit is the Excess of Loss team who target multinational businesses with strong and mature credit management who are able to absorb a greater level of risk share. A familiar feature of both of these units is that they underwrite credit limits on a 12 month non-cancellable basis. One of the key benefits of credit insurance is balance sheet and cash flow protection. Euler Hermes understands the importance of paying claims promptly and strives to expedite payments to customers wherever they are trading in the world.


World Agency: benefits at a glance World Agency is the dedicated team within Euler Hermes specifically tasked with servicing multinational and financial institutions.


• The World Agency provide protection against Protracted Default, Insolvency and Political Risk


• Support multinationals to integrate and grow in new and emerging markets, ensuring compliance with local regulation


• Optimize access to capital under asset-based financing agreements


• Implementation of robust and effective programs that underpin and strengthen credit management infrastructures supporting risk management and risk transfer


• Through the global risk model provision of consistent underwriting decisions


• Claims paid as quickly as possible to ensure customers have no cash flow gaps


• Solutions include bespoke World Programs, Excess of Loss, Political Risk Only, Structured Trade Finance


• A dedicated and experienced Account Management team


• A dedicated Program Risk Director • Unique and consistent decision-making authority for sensitive decisions


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