By contracting export credit insurance, HBOR assumes up to 95% of the risk of non-payment by a foreign buyer, which means that small and medium-sized enterprises protect their liquidity. The programme can provide cover for short-term export receivables of small and medium-sized enterprises that have an annual income from exports of up to EUR 2 million. Beneficiaries of insurance policies can also be entrepreneurs who are just starting their export activities.


Through the introduced changes to the programme, HBOR has made it possible to increase the insured amount from the previous EUR 50 thousand to EUR 150 thousand. Now, exporters can deliver larger volumes or make more deliveries to a single buyer at lower insurance costs and with equal payment collection security.


Insurance of export receivables of EUR 100 thousand at a premium lower than EUR 500

For example, an exporter can use HBOR’s policy to insure a receivable in the amount of EUR 100 thousand for three months with a premium cost of less than EUR 500. In case of non-payment by the buyer, after the expiry of 3 months from the maturity of the receivable, the exporter can submit a claim to HBOR, after which HBOR pays indemnity in the amount of 95% of the insured amount of the uncollected receivable.


Indemnities paid so far due to non-payment of buyers from Italy

HBOR started implementing this programme 5 years ago, and the export turnover in the amount of almost HRK 25.5 million has been insured so far. Mostly, the following industries insured their exports: the processing industry, the agriculture and fisheries and the trade industry, whereas the greatest interest among entrepreneurs was in the insurance of exports to the EU, the USA, Switzerland and the Great Britain.
So far, indemnities have been paid for non-payments by buyers from Italy, owing to which entrepreneurs have not experienced major liquidity problems.