The situation is exacerbated because other options for insuring against payment defaults – for example through trade credit insurance – tend to become more difficult. “For around a year now, insurers have been striving to raise premiums – this applies to new business and existing contracts,” says Albrecht Max Vater, Chairman of the Board of Directors of the International Association of Credit Insurance Brokers (Bardo). “The appetite for risk is very different,” says father. However, the market still offers capacity for new business. For this, too, a federal protective shield program was finally extended in December. It is designed to ensure that commercial credit insurers maintain business cover notes. The federal government assumes a guarantee for compensation payments from credit insurers amounting to up to 30 billion euros. But what happens at the end of June when the protection expires and trade credit insurances have to take full risk again? “We hope that when the protective shield expires, there will be no major withdrawal of the companies,” said father.