Client Profile
Industry: Retail/Wholesale
Specialty: Manager of Varois Onine Retail Centers
Location: New Jersey
Claim Information
Description: One of our Insureds experienced an uncollectable debt from a customer. After several checks bounced amidst continued collections efforts, the Insured sent a representative in person in an attempt to collect the debt. The customer assured they would wire the funds, however, the Insured never received them and eventually deemed the debt to be uncollectable. Through their Captive's Actual Net Loss Insurance Policy "Trade Credit" coverage, they were able to recover the losses due to the unpaid debt. 
Line of Coverage: Trade Credit
This exposure was elected for coverage by the client under their Captive Policy. This resulted in a claim payment amount of approximately $225,000.