If you are a Financial Institution looking to enhance the collateral value of accounts receivable used to secure trade, working capital or asset-based loans, becoming a loss payee on a Great American Trade Credit Insurance policy issued to your borrower can be the perfect solution.
This tool can help you mitigate excess risk concentrations in an accounts receivable portfolio or include previously excluded foreign receivables in the borrowing base.
Your Financial Institution may be endorsed as the loss payee on any Great American Trade Credit Insurance policy via our loss payee form. This grants your financial institution the right to:
- Be named a payee on all claim payments made by Great American
- File claims in the event of the insured's insolvency
- Obtain all information and records relating to the insured's policy and claims
With further authorization by the insured, your financial institution can also:
- Be named the sole payee for any claim payment by Great American