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Insuring export business as exporter

Wholeturnover Policy (APG)

Product at a glance

The Wholeturnover Policy (APG) is a cost-effective and easily manageable tool for German exporters repeatedly supplying goods and/or services to several buyers in different countries to insure short-term receivables (credit terms of up to 12 months). The policy period is one year and about two months before the expiry the exporter will receive a renewal offer.

Here you will find some practical examples.

Target group

German export firms with a coverable annual export turnover of at least EUR 500,000 spread over different markets

Payment terms of the covered transactionse

Short-term (up to 12 months)

Insurable risks

A Wholeturnover Policy offers protection against payment default, particularly if

the foreign buyer becomes insolvent
the foreign buyer fails to make payment within 6 months after due date (protracted default)
adverse measures are taken by foreign governments or warlike events arise
amounts in local currency cannot be converted and/or transferred
goods are confiscated due to political circumstances
contract performance becomes impossible due to political circumstances

Special features

The APG-Online-Service makes the handling of a Wholeturnover Policy even easier and faster.

Cover of so-called marketable risks (all EU and OECD core countries) under a Wholeturnover Policy is possible for a limited period of time until the end of 2010. The delivery of the goods/services has to take place before or on 30 June 2011. Further information can be found under FAQs: Insuring supplies to EU and OECD countries.

Premium

Individually calculated percentage of the monthly turnover which will be fixed for the entire policy period
The individual claims record is taken into account through a system of discounts and surcharges (Bonus-Malus-System) (with effect from the third policy year)
No additional processing fees
Option of paying premium by direct debit

Uninsured portion

5 % for political risks
10 % for commercial risks. For a limited period of time until the end of 2013 the uninsured portion can be reduced upon application to 5 % against the payment of a premium surcharge.