Euler Hermes CEO: Credit insurance up 50% in October

The demand for trade credit insurance, bought by companies in order to cover the non-payment risk from their business partners, rose significantly in October, with companies seeking ways to protect themselves, amid an increase in the number of recent bankruptcies. “October was a very hectic month, with requests for credit insurance rising 50% compared with other months. This is no coincidence; in fact, it is directly connected to what is happening across the globe and in Romania. Many companies are only now becoming aware of the necessity of a policy, as their clients are falling behind with their payments due to insolvency,” said Cristina Rusuleanu, CEO of credit insurance company Euler Hermes, in an interview with ZF. Euler Hermes is part of German group Allianz and is the world leader in terms of trade credit insurance. The company is present on the local market through a subsidiary opened a few months ago.