occurs, the primary insurer can file a claim with the reinsurer. SERV or the foreign ECAs decide whether to take out reinsurance. SERV currently has agreements with the following ECAs: Atradius (Netherlands) [...] other tranche is subject to standard market conditions, and is generally insured with SERV. Local costs can be insured SERV defines local costs as goods and services supplied from the buying country that are [...] Financing options Insurance policy in foreign currency SERV can issue insurance policies in euros or other convertible currencies for supply contracts in a foreign currency. If a loss occurs, the inde
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Preventing or mitigating losses in three steps
steps Make sure the terms are clear before signing a contract with a customer. You should let your SERV client advisor know right away if you become aware of any breaches of duty or risk aggravating factors [...] your client advisor can offer you the best possible support during this phase and you can work with SERV to avoid or mitigate the loss, you should not supply any further goods or services without checking [...] entire indemnification procedure and claims management can be found in Loss and Claims Management of SERV . Indemnification in three steps Questions? Contact: Claudia Oberle Head of Claims & Recovery +41
https://www.serv-ch.com/en/services/imminent-loss-and-occurrence-of-an-insured-event/preventing-or-mitigating-losses-in-three-steps/
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Cover policy for countries and banks
countries and banks Countries The cover policy for countries shows the country classification as well as SERV's cover policy. Errors and omissions excepted. The committee's decision when reviewing the relevant [...] It is updated regularly. Banks that are not listed by name, but have a current rating that meets SERV's criteria, are also in principle acceptable. Payment guarantees of a Ministry of Finance or a Central [...] binding. No liability is accepted for any errors. It is therefore advisable to seek clarification from SERV in individual cases. Meaning of cover policy status Open(*) For these countries and sectors, there
https://www.serv-ch.com/en/services/cover-policy-for-countries-and-banks/
more about the values and culture that define SERV. Together we transcend borders. Benefits & wellbeing What awaits you Find out what you can expect at SERV and how we ensure the wellbeing of our employees [...] Become part of SERV Spezialist/in Beschaffung (m/w/d, 80 - 100%) Learn more Business Analyst (m/w/d, 80 - 100%) Learn more Release Train Engineer (m/w/d, 80 - 100%) Learn more System and Network Technician [...] als, we also want to nurture and inspire the next generation. Contact us and start your career at SERV! For school pupils, we offer commercial apprenticeships with first-class training conditions. We are
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Export risk insurance – a game changer
This is why MindMaze requested Swiss Export Risk Insurance SERV for support, and the company was able to address this challenge efficiently. SERV covered the transaction with a supplier credit insurance [...] claim and the SERV insurance to a bank which then partners with MindMaze. For its part, the bank agrees to finance MindMaze upfront against future payments to be made by the buyer “SERV enables growth [...] purchase of equipment poses a great challenge. An insurance offering from Swiss Export Risk Insurance SERV can solve this problem by helping MindMaze offer competitive payment conditions and therefore triggering
https://www.serv-ch.com/en/services/success-stories/export-risk-insurance-a-game-changer/
SERV defines del credere risk (also called commercial risk) as the risk that the buyer or guarantor will be unable or unwilling to pay. SERV insures the del credere risk of public- and private-sector buyers [...] documents triggering payment are not prepared or included despite being required by the contract. SERV also provides Working Capital Insurance and Counter Guarantees to protect financial institutions from
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Indemnification in three steps
Indemnification in three steps You must inform SERV’s claims department immediately of the occurrence of an insured or guaranteed event and provide all of the details. Applying for indemnification. The [...] receiving the indemnification request together with all of the necessary documents and information, SERV will review the application and inform you in writing if you are entitled to indemnification. If you [...] will remain obliged to take recourse, recovery and loss mitigation measures in consultation with us. SERV may contribute towards the cost of certain measures (e.g. taking legal action). The loss information
https://www.serv-ch.com/en/services/imminent-loss-and-occurrence-of-an-insured-event/indemnification-in-three-steps/
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Requirements for acceptance of the insurance
Switzerland. The export transaction is compatible with SERV business policy. In principle SERV insures exports to all countries. For reasons of subsidiarity , SERV only insures exports with short-term credit periods [...] OECD countries if they cannot be insured on the private market. There are no minimum requirements for SERV insurance with regard to the company size or the order volume. Questions? Contact: Christian Hendriks
https://www.serv-ch.com/en/services/application/requirements-for-acceptance-of-the-insurance/
local working conditions. This extra information helps SERV to assess the potential development policy implications in the importing country. SERV only insures export transactions to low-income countries [...] measures. Here you can find an overview of what your obligations are as an exporter, as well as how SERV checks projects in developing countries. For deliveries worth more than 10 million Swiss francs to [...] intended to prevent over-indebtedness of the destination country. When checking your application, SERV therefore communicates with both of these institutions to ensure that the insured transaction is in
https://www.serv-ch.com/en/sustainability/low-income-countries/
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100 kilometres of railway in Ghana with Swiss participation
accounted for by Swiss suppliers, Swiss Export Risk Insurance SERV was able to provide EUR 272 million in the form of reinsurance cover. ❝ SERV’s reinsurance is a good way for us to participate in projects [...] based in Geneva called Arad Engineering SA. This is exactly in line with SERV’s pathfinding strategy. In the long term, this allows SERV to give SMEs the opportunity to participate in large-scale projects to [...] boost Ghana’s economy. Illustration: Oculus The Swedish export credit agency EKN is collaborating with SERV, which is providing a reinsurance agreement to upgrade a railway line in Ghana. This is possible thanks
https://www.serv-ch.com/en/services/success-stories/100-kilometres-of-railway-in-ghana-with-swiss-participation/