ARFiN is a contractual partner of Czech export agency EGAP

The signing of the cooperation agreement opens the possibility for ARFiN to offer the same range of services for EGAP insurance products as for the policies of all other commercial insurance companies. These include, for example, Atradius, Allianz Trade, Coface or Credendo. The support also applies to insurance products with bank participation.

“Until now, we have recommended EGAP products to our clients when appropriate. But we had no way to positively influence the subsequent cooperation and we lacked access to the insurance company’s online systems. Now the situation has changed and it is mainly the clients who will benefit from it,” emphasises Otakar Hrazdíra, Director of the Insurance division of the ARFiN Group.

Who is EGAP?

The Export Guarantee and Insurance Company (EGAP) is a specialized export agency with state support. It focuses on insurance for political and commercial risks associated with the export of goods, services and investments from the Czech Republic. The most insured political risks include administrative or legislative measures of the debtor country preventing payments. Furthermore, political events in the debtor country in the form of revolutions, wars, or general strikes. In the case of commercial risks, these include insolvency or denial of payment.

Some unique EGAP products

• Contract cancellation insurance: cancellation or interruption of the export contract by a foreign customer during production.

• Insurance of invoices to commercially difficult to insure territories (in addition to insurance of short-term trade receivables) and invoices with a long maturity of more than 1 year (including invoices purchased by the bank).

• Insurance of banks providing various types of loans to clients related to the export of goods (e.g. pre-export, investment, etc.)

The ARFiN Group’s many years of experience in commercial risk insurance and trade credit insurance are available to existing and new clients. This includes worldwide services – ARFiN BROKER is a member of the global AU Group, a world leader among specialised brokers with access to a range of specialised products worldwide.

“We can help to present specialty products both through abroad solutions and EGAP’s services. The combination of commercial insurance and export agency representation is standard, especially for demanding and large projects,” summarises Luděk Obadal, Sales Director of specialised broker ARFiN BROKER.

What are the main benefits of the newly concluded partnership with EGAP?

• A broader range of ARFiN operational services: our customers get full support for a wider range of insurance products and services. This can be particularly beneficial for customers with more complex or specialised needs.

• Higher quality and confidence: combining ARFiN’s expertise with the long-standing experience of a national agency provides customers with a higher level of assurance and guarantees a high-quality insurance service.

• Further service development: the possibility to provide feedback on EGAP services will contribute to the development of services and products based on the changing needs of clients.