The accounts receivable policy reimburses the insured business for amounts which cannot be collected from customers due to damage to the company's accounts receivable records. It also covers extra collection expenses, costs to reestablish records and interest on any loans the insured must obtain to stay in business while collections are impaired.
The agents at Black Bear will work with you to see if this coverage is a good option for your business. There are two forms available with this coverage, a nonreporting form, subject to a fixed limit, and a reporting form wherein the insured makes periodic reports of receivables and is charged a premium based on such averages. Black Bear will also help you throughout the term of your insurance policy and be available for any questions you might have or for any assistance you might need.
Black Bear Insurance Agency is proud to be a part of the following organizations for independent insurance agencies.