E&O from Iworldfg.com

[HealthGuy]

Somebody prove me wrong: just because they share your e and o risk with other policies doesnt mean they wont pay an e and o claim.
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Somebody prove me wrong: just because they share your e and o risk with other policies doesnt mean they wont pay an e and o claim.

 

[Crabcake Johnny]

http://www.michigan.gov/documents/lara/United_Defend_Co_-_CD_EB_redacted_363950_7.pdf

 

[Sam]

Don't forget about Florida FLORIDA ISSUES ORDER TO IWORLD FINL GROUP, UNITED DEFEND COMPANY - Bloomberg

 

[Crabcake Johnny]

I have this E and O and no carrier seems to care when I send them my certification with these guys. If the insurance companies recognize it thats good enough for me.

This is a 100% pure grade A scam. These guys operate locally but claim that since the policy is in Belize, they don't have to comply with any regulations.

Per their TOS, if you have an issue there's an arbitration clause and the venue is Belize. So good luck with that.

IMHO, you're paying for toilet paper.

 

[moonlightandmargaritas]

Per their TOS, if you have an issue there's an arbitration clause and the venue is Belize. So good luck with that.

Could be a fun trip. They have some Mayan ruins that are cool to see, and some nice casinos too...

 

[Crabcake Johnny]

Don't forget about Florida FLORIDA ISSUES ORDER TO IWORLD FINL GROUP, UNITED DEFEND COMPANY - Bloomberg

Seems like Scott Roughen has been at this scam for some time:

http://www.dora.state.co.us/Insurance/enforcement/2009/O09182.pdf

 

[LOM58]

I think I saw the arbitration process on top of a pyramid in the movie "Apocalypto".

 

[HealthGuy]

Serious question. Lets say I have this "fraudulent" E and O and cancel today and get a new E and O but then have a claim back from when I carried this fake E and O. Would I have to then try to run the claim through United DefendCo or the new E and O carrier? HealthGuy

 

[Crabcake Johnny]

Serious question. Lets say I have this "fraudulent" E and O and cancel today and get a new E and O but then have a claim back from when I carried this fake E and O. Would I have to then try to run the claim through United DefendCo or the new E and O carrier? HealthGuy

Looks like the owner had a previous E&O "company" in 2009 and had to shut it down - so he threw this up in 2010 and already has three cease and desists and now all websites are down.

"Fraudulent?" Sounds about right. And if you get new E&O just make sure it covers prior acts.

BTW, the guys running this are former Mega Life managers. Draw your own conclusions.

 

[b61mack]

I'll bet you they have excellent credit.