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Seneca Insurance Company has been leading the insurance industry for three decades, providing expertise in nationwide insurance solutions for assets under bankruptcy. Our customized and flexible property and casualty solutions are intended to cover the property and operations of the business/premises and designed to serve trustees, receivers, and debtors in possession of businesses in Chapter 7 and 11.
We provide our coverage solutions to businesses that have filed Chapter 7 – those whose operations have ceased (voluntarily or involuntarily). All assets of the Bankruptcy Estate are turned over to the court appointed Trustee, who is tasked to secure, protect, and sell all assets expeditiously for the most amount of value to pay off creditors. Assets can be broad in scope including building, equipment, stock, contracts, crypto-currency, or even favorable lease agreements – all of which need to be insured while in Chapter 7.
We also provide solutions to businesses that have filed Chapter 11 – those that continue to operate (either full or partial) and under court-approved reorganization. These businesses have provided a plan to restructure business/debt over a time period to exit bankruptcy. The plan is reviewed and approved by the bankruptcy judge.
We insure asset protection while meeting insurance requirements, ensure placement with fast and reliable service, provide flexible insurance coverage and limits, and operate with the information provided.
