Cover policy per country in Europe

Our Cover Policy Explained

The policy applies to transactions insured on behalf of the Dutch state. The table below shows the country policy for each country. It includes the ceilings, utilization and whether there is a notice of cover situation (da). It also indicates whether the Sustainable Lending Principles & Guidelines apply and which countries are eligible for DGGF. Also listed are the country classes from 0 (very good risk) to 7 (poor risk). These categories are important for calculating the premium and country ceilings.

Amounts are listed in millions of euros. An explanation of the policy codes and premium class codes can be found below:

Glossary

Country Ceiling (Limit)

The country ceiling indicates the maximum amount up to which we are willing to offer insurance. There are no ceilings for countries in country class 0-3, provided these countries have an investment grade rating with all rating agencies (Fitch, S&P and Moody's). The box in the country ceiling column of the relevant country is then empty. Ceilings do apply to all other countries. Ceilings for countries with exception coverage are calculated but not published. The box in the relevant column is then also empty. If you would like to inquire about the possibilities, please contact your account manager.

Notice of cover (da)

If there is insufficient capacity under a particular country limit to book a transaction, we may issue a notice of cover. The signaling ceiling is set at 75% of the country ceiling (rounded in some cases). For a transaction that causes the signaling ceiling to be exceeded, a cover commitment or direct policy may be issued. After that we enter into a notice of cover situation. A notice of cover does not represent a commitment to insure a transaction. It is only an underwriting assessment of a transaction. If capacity is available, policy issuance can possibly proceed. Here, the space between the signaling ceiling and the country ceiling may be used to convert cover recommendations into policies. The DA situation is automatically lifted if the bond of all policies, covera promises and cover recommendations falls below the signaling ceiling.

Signing clause (tc).

A signing clause on a contract not yet signed means that the insured may not sign the contract until written approval is obtained from Atradius Dutch State Business. A signing clause for a signed contract which has not yet entered into force and which requires action by the insured means that this action may not be taken until written approval has been obtained from Atradius Dutch State Business.

Sustainable Lending Principles and Guidelines apply

The Netherlands subscribes to the IMF/World Bank principles regarding the debt sustainability of developing countries. This means that government buyers in these countries are often allowed to take on new debt only under restrictive conditions. The 'Conditions' column indicates the countries for which this may be the case. For all matters for which the column indicates that the 'IMF/WB conditions' apply, please contact your account manager. He or she can then indicate the conditions under which government buyers are allowed to borrow in that country.

DGGF

Open for cover under the Dutch Good Growth Fund (DGGF). If this applies it will be indicated in the "Conditions" column. More information can be found on the DGGF page.