Recourse & Non-recourse

In recourse & non-recourse methods of receivable management, there is only a difference of saving in bad debts amount. In Recourse: Bad debts are not saved to full amount or % because company is not insured against bad debts. [So, we saved bad debts only to a certain amount - there are some bad debt that company has to bear] In Non-recourse: Bad debts are saved to full amount or % because company is insured against any bad debts. [So, we saved all bad debts - there are no bad debts that company has to bear] Is that right?