A new internet company has created an on-line trading room to buy and sell commercial insurance, risk management services and claims.

On-line at www.dotRisk.com, it was formally launched this week and has the backing of US claims resolution company Integrated Economic Solutions Corporations.

DotRisk also offers an on-line service clearing house for insurers, reinsurers and policyholders to submit, process and resolve business insurance claims, day or night.

By using the site, a policyholder can submit the details of any number of outstanding claims. Third parties can then offer to buy these in order to recover the funds insurers, hopefully at a profit. The website will provide secure communication between the parties involved in the transactions.

According to Richard Fields, chairman and founder of dotRisk, the service will provide cost-saving services and alternative distribution opportunities to buyers and sellers of insurance.