Euler Hermes opens in Chile

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27 July 2010

Trade credit insurer Euler Hermes has opened its fifth Latin America office in Santiago.

Trade credit insurer Euler Hermes has announced the opening of its newest Latin American subsidiary in Chile – Euler Hermes Seguros de Crédito, S.A.

This newest office, located in Santiago, will provide accounts management services to Chilean corporate clients. It will allow these clients to expand their domestic and/or international sales safely to existing and new customers. The presence of new...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%