WTR Launches Accounts Receivable Insurance Program

Waldorf Trade Risk, LLC (WTR), an insurance program administrator specializing in trade credit risk, has launched ReceivaSure, an accounts receivable insurance program for small- and medium-sized companies built on an end-to-end digital underwriting platform capable of processing most quotes in 24 hours.

ReceivaSure will be offered in all 50 states on an admitted basis through Nationwide. he program is currently available in more than 40 states, and the remaining states are expected to be admitted in the very near future.

Using its digital underwriting and policy administration platform, WTR quotes and binds ReceivaSure policies within one business day, with the exception of some international submissions.

The ReceivaSure program is offered through specialty insurance brokers and can be submitted in three ways—domestic (includes US & Canada), export (all non-US & Canada receivables) and global (all eligible business).

The program applies to businesses with $100,000 or more in annual sales, including companies looking to do more business on open account terms, companies that export or are seeking to export for the first time and those looking for first-time loans, plus B2B companies looking to increase their advance rate on operating lines of credit.

The policy includes commercial risk protection for businesses whose customers become insolvent, seek Chapter 7, Chapter 11 or the equivalent in their country of domicile, are in protracted default and continued delinquency or are unable to pay invoices. It also provides protection for political risk exposures such as currency inconvertibility, exchange transfer risk, import/export embargo and license cancellation.

WTR previously offered an accounts receivable insurance product on a non-admitted basis through a different insurer.

Waldorf Trade Risk, LLC is a Stamford, Conn.-based insurance program administrator and underwriter specializing in trade credit risk.