jrmorton25
New Member
- 7
I will be buying this insurance and have found the following company with substantial low rates.
.But, the following email from them worries me...Can someone share a light on their thoughts as to if this would be fine?
Hi,
Thank you for showing interest in United Defend Co.
We offer what is called Errors and Omissions Coverage or E and O Coverage, and the industry we cover is Individual Insurance agents. Insurance agents in the US are required to carry E and O Coverage that protects them against legal action should they make an error on an individual's policy that they write, usually that ends in a financial loss of some sort.
Your errors and omissions plan, with United Defend Co will cover you (or an administrative staff member working on your behalf) for insurance related activities made by you personally, and those you make under your business name. It will NOT cover others writing applications under your business name. They will need to obtain their own separate E and O Coverage Plan.
Since we are not insurance but a risk-management pool, we are unable to be rated by AM Best, Standard and Poors, etc. So we have no rating, good bad or indifferent. If you know that any of your carriers require a specific rating, we would be unable to meet that requirement.
All plans offer a $1 Million/ $2 Million maximum coverage benefit. .Act refers to per occurrence or per claim. Aggregate is a total over the plan year. This is generally the limits required for individual insurance agents. The different deductable options $1,000 $2,500 & $5,000. We only offer the one-time annual payment option. This is used to keep accounting costs down and translates into lower premiums. We offer a full 30-Day Money back guarantee. In the first 30 days a customer can cancel for any reason and get a full refund. After the first 30 days, the refund will be pro-rated by month.
Who/What We Cover:
· Health, Life, Property, Casualty, Medicare, Accident, and Fixed Annuities.
· We cover personal and commercial. Lines that fall under these items include: Fire, Auto, Crop, Farm, Aviation (plane).
· We cover individual agents and the plans that they write under their business name.
· With our plan all producing agents would be required to have their own coverage.
· CSRs, Customer Service Representatives, Administrative assistants, no producers, would be covered under plan.
· We cover 12 prior to the start of the individual’s plan with us if the individual had E and O Coverage or E and O Insurance in place for that full year with no gaps or lapses in coverage.
What we do not cover:
· We do not cover any Variable or Indexed annuities.
· We do not offer blanket coverage that will cover an agency and all producing agents.
· We offer no back dating on our plans. The earliest date that can be selected is the application date.
Everything is done in-house through United Defend Co. We have no other underwriting company.
Please don't hesitate to call or e-mail us with any questions.
EMAILS ADDRESS: -
TOLL FREE NO.:- 1-888-217-3196.
Our Address is:
16 Albert Hoy Ave
Suite 1059
Belama Phase 1
Belize City, Belize, C.A.
.But, the following email from them worries me...Can someone share a light on their thoughts as to if this would be fine?
Hi,
Thank you for showing interest in United Defend Co.
We offer what is called Errors and Omissions Coverage or E and O Coverage, and the industry we cover is Individual Insurance agents. Insurance agents in the US are required to carry E and O Coverage that protects them against legal action should they make an error on an individual's policy that they write, usually that ends in a financial loss of some sort.
Your errors and omissions plan, with United Defend Co will cover you (or an administrative staff member working on your behalf) for insurance related activities made by you personally, and those you make under your business name. It will NOT cover others writing applications under your business name. They will need to obtain their own separate E and O Coverage Plan.
Since we are not insurance but a risk-management pool, we are unable to be rated by AM Best, Standard and Poors, etc. So we have no rating, good bad or indifferent. If you know that any of your carriers require a specific rating, we would be unable to meet that requirement.
All plans offer a $1 Million/ $2 Million maximum coverage benefit. .Act refers to per occurrence or per claim. Aggregate is a total over the plan year. This is generally the limits required for individual insurance agents. The different deductable options $1,000 $2,500 & $5,000. We only offer the one-time annual payment option. This is used to keep accounting costs down and translates into lower premiums. We offer a full 30-Day Money back guarantee. In the first 30 days a customer can cancel for any reason and get a full refund. After the first 30 days, the refund will be pro-rated by month.
Who/What We Cover:
· Health, Life, Property, Casualty, Medicare, Accident, and Fixed Annuities.
· We cover personal and commercial. Lines that fall under these items include: Fire, Auto, Crop, Farm, Aviation (plane).
· We cover individual agents and the plans that they write under their business name.
· With our plan all producing agents would be required to have their own coverage.
· CSRs, Customer Service Representatives, Administrative assistants, no producers, would be covered under plan.
· We cover 12 prior to the start of the individual’s plan with us if the individual had E and O Coverage or E and O Insurance in place for that full year with no gaps or lapses in coverage.
What we do not cover:
· We do not cover any Variable or Indexed annuities.
· We do not offer blanket coverage that will cover an agency and all producing agents.
· We offer no back dating on our plans. The earliest date that can be selected is the application date.
Everything is done in-house through United Defend Co. We have no other underwriting company.
Please don't hesitate to call or e-mail us with any questions.
EMAILS ADDRESS: -
TOLL FREE NO.:- 1-888-217-3196.
Our Address is:
16 Albert Hoy Ave
Suite 1059
Belama Phase 1
Belize City, Belize, C.A.
.
