Every answer and its explanation appears here once you have finished the path. Each one then links to the matching glossary entry, where the concept is set out in full with its worked example.
1. Two ways of mis-declaring coexist. What separates them, and why does the distinction decide the amount?
Under-declaring an amount on a listed buyer reduces the indemnity pro rata; omitting a whole buyer is not reduced, it puts the receivable outside cover, the insurer never having been able to grant or refuse a limit on it
The first error costs a fraction, the second costs everything, and that is why the useful check bears on the list of names and not on amounts. The answer treating omission as a premium adjustment is a finance department's natural reflex, since the declaration is what computes the premium; it misses that the declaration first SUBMITS a buyer, and that a buyer never submitted could never be accepted. The answer putting both outside cover confuses premium with approval: on a listed and approved buyer the insurer did exercise its decision, and that is what makes proportional reduction possible.
Glossary entry · declaration-de-risque2. Worked case: two claims, 1.4 million on a buyer of an acquired subsidiary never declared, 600,000 euros on a historic buyer that is listed but declared for half. What happens on each?
1.4 million lost in full, that buyer having never existed for the insurer, and about half of the 600,000 on the listed buyer: good faith is genuine and has no effect on the first
The two claims do not arise from the same mechanism, and treating them together would mean negotiating the wrong thing. The answer reducing both pro rata is that of a handler who has read the proportional rule correctly and applies it once too often. The one putting everything outside cover sanctions an inaccurate overall declaration when the contract reasons buyer by buyer. A word on the drop from 31 to 24 million, which is not a detail of the story: written at the time it happened it would have been an explanation; produced after two claims it will be read as a defense.
Glossary entry · bonne-foi3. What is meant by INSURABLE revenue?
What the policy defines, with its exclusions of countries, sectors, intragroup sales and sometimes a floor, and it is read rather than reconstructed by reasoning
Declaring too much is a pointless cost, declaring too little opens the proportional rule, and no reasoning replaces reading the definition. The answer relying on what the insured considers at risk is the most tempting because it looks prudent and responsible; it is also the surest way to open the proportional rule, since the insured is not the one who sets the perimeter. The one equating it with exports alone reasons on what this certification usually deals with, and a whole turnover policy can cover domestic sales.
Glossary entry · principe-indemnitaire4. Of the three annual checks the module prescribes, which carries the most, and why does declaring total revenue not replace it?
Reconciling the LIST OF NAMES, buyers declared against buyers invoiced including the subsidiary, because it is omitting a name that costs everything and because a total, however high, submits no buyer to the insurer
Reconciling amounts catches the cheaper of the two defects and lets the other through, which makes it the most reassuring and least useful check. The answer proposing to declare everything deserves to be taken seriously because it looks like solving the problem by excess: it does remove under-declaration of amounts, and it changes nothing about omission, since a buyer absent from the file stays absent whatever total is reported. The defect is not a shortfall of euros, it is a name that was never submitted. Third party certification validates an addition, not a perimeter.
Glossary entry · assurance-credit-export5. A difficult year brings the declaration down twenty percent. Why does that drop deserve a written note even though it may be perfectly legitimate?
Because, seen from the insurer, the curve is the same whether the drop comes from genuinely lower sales or from a perimeter that has migrated to an entity no longer feeding it, and the distinction only appears at claim time: written when it happens, the explanation is credible without being defensive
The two causes produce exactly the same curve, and nothing separates them from outside: that is the definition of an ambiguous signal, and the only remedy is to resolve it yourself while you are still the only one who knows the answer. It is also what separates an explanation from a defense, and the worked case shows it, the drop from 31 to 24 million having become suspect for the sole reason that it was explained after two claims. The answer invoking a ten percent threshold looks for a rule where there is a judgment, and the instinct is sound since many policies require notifying substantial changes: what substantial means still has to be known, and the module gives the only workable test, whatever would have changed an answer on the questionnaire is declared.
Glossary entry · declaration-de-risque