United Defendco "IWorld Financial Group"

Discussion in 'P&C Insurance Forum' started by Underwriter2Agent, Sep 28, 2011.

  1. Underwriter2Agent
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    Underwriter2Agent Well-Known Member

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    I actually did purchase the "Coverage" from United DEFENDCO, or IWorld Financial Group.

    After receiving the policy jacket today I became a little unsure of the coverage and started a little research.

    The DFS stated that they are listed as a potential non licensed in agency in Florida, not good.

    I wrote to them this is the response.

    "iWorld Financial Group are regulated by all state and federal laws for stringent regulations and requirements regarding reputation, integrity, and proper business practices. This dictates the states in which we can operate in, as they vary from state to state. We are not required to be regulated or appointed with the DOI as we are a privately owned and operated Risk-Sharing Pool with a General Reserve Fund."

    So it seems like I may go for the refund. I have not contacted any carriers about the appointments. I will do tomorrow.

    I have several years of Underwriting P&C if anyone has any other options for me to consider in the State of Florida I would appreciate the feedback.

    Please contact me if anyone needs more info and if you do have any other options would be greatly appreciated.
     
  2. Guest
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    Guest Guest

    you should have used the search function first
     
  3. drvsafe
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    drvsafe New Member

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  4. djs
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    djs Super Moderator Moderator

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    Assuming this is for P&C, EandOforless.com is actually more like $787, more if you want securities coverage, a decent deal if you can get it. (The 10K retention is a bit of an ouch....)

    They also don't write in Florida, which is where I assume the OP is at. If this is true, it could be $10 and it won't do any good. I know, I tried to get this policy in California and couldn't.

    Dan
     
  5. JCK818
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    JCK818 Well-Known Member

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    I bought my first E&O with them. Asked for a refund 4 days later. No carrier would accept it.
     
  6. Guest
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    Guest Guest

    ^^^^^^^^^^^ What he said, most carriers wont accept it
     
  7. Mark
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    Mark Well-Known Member

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    Assurity and Foresters will accept them.
     
  8. jhuang
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    jhuang Well-Known Member

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  9. arnguy
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    arnguy Well-Known Member

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    Try NAA-e&o (National Agents Alliance). Great discounts if you are appointed with certain carriers.
     
  10. Mark
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    Mark Well-Known Member

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