On Monday, Waldorf Trade Risk LLC, an insurance program administrator specializing in commercial credit, said it has launched ReceivaSure, a $ 100,000 or more annual sales receivable insurance program for SMEs.
The coverage will be offered in all 50 states on a recognized basis through Nationwide, Waldorf said in a statement. It is already available in more than 40 states, and the remaining states are expected to be adopted in the near future, according to the statement.
The policy covers commercial risk protection for companies whose customers become insolvent, seek Chapter 7 or Chapter 11 bankruptcy or equivalent in their home country, have long-term deficiency and continued breach, or cannot pay invoices, the statement said.
It also provides protection for political risks such as currency insolvency, risk of exchange transfer, import / export embargo and license interruptions, the announcement.
The ReceivaSure program is offered through special insurance brokers and policy applications can be filed as domestic, including the US and Canada. exports, including all non-US and Canada claims
"Accounts receivable are binding and cover all qualified business.
Waldorf quotes and binds the ReceivaSure policy within one business day, with the exception of certain international posts, using their digital insurance and policy administration platform, generally one of the largest assets of small businesses, but is often uninsured, "said David Waldorf, CEO and founder of WTR, in the statement. "When accounts receivable are insured with a reputable operator, asset-based lenders and commercial finance houses are more likely to approve higher interest rates."