Credit Insurance

Turnkey Insurance and Reinsurance Brokers has formed an agreement with Euler Hermes, recently renamed Allianz Trade, in order to provide our clients with Trade Credit Insurance. Currently Allianz Trade is the world leader in trade credit Insurance, and has in excess of 62.000 clients across the world, protecting €931 billion of transactions globally with 83 million businesses monitored across many sectors in over 160 countries.

What is Trade Credit Insurance


In today’s uncertain business environment where we are witnessing political and economic events occurring far beyond our borders which have directly and without control, impacted our daily and local business environment Turnkey with the Insurance Solutions provided by Allianz Trade, aims to provide financial support in the unfortunate event that unexpected commercial and political risks such as customer bankruptcy or changes to import or export regulations occur, by safeguarding your cash flow and avoiding unnecessary bad debts.

Imagine that you just sold your products to your customer, and you provided him/her with a 30-day credit period. The deadline comes and goes, and no money is transferred to you.

You send multiple reminders but no response… is he/she going through temporary financial difficulties or is he/she bankrupt?

You end up having to employ lawyers and other consultants in order to try to recover your due payments.

With Allianz Trade and provided that the Insurance was duly and correctly taken out, the Policy will indemnify you subject always to the terms and conditions of your Policy, for the financial losses incurred i.e. for the bad debt of the late or non-payment of your commercial issued invoices.


How does Trade Credit Insurance Work?

Customer Credit Checks

The Credit worthiness and financial stability of your customers is analyzed and if approved.

Credit Limit Calculation

The Policy to be issued will define the maximum limit of Indemnity which will apply for named and unnamed customers.

You Continue Trading as Normal

You continue trading with your existing clients and the Policy applies up to the agreed limits.

Trade Limits Adjustments

Adjustments may be made in the Policy regarding credit limits based on economic conditions.

New Customers

New customers may be added to the Policy at agreed limits and terms.

Specimen Policy & Proposal

Professional Service

When you chose Euler Hermes / Allianz Trade through Turnkey, you will be provided with the professional service which our clients receive. It’s not accidental that Euler Hermes also chose Turnkey in order to provide Trade Credit Insurance in Cyprus.