Credit insurance, a once-arcane risk management tool, is becoming increasingly popular in the United States. Why? The answer is simple. Defaults and bankruptcies are at an all-time high.

Accounts receivable typically represent a company's largest single asset. Just one large customer defaulting on a payment could spell disaster–a lesson too many companies have already learned the hard way.

According to the American Bankruptcy Institute, business bankruptcy filings reached 30,033 in the first half of 2009 alone. That's a 64 percent increase over the same period in 2008.

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