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When you see an umbrella, what do you think? Most people would think, “Oh, it must be raining or going to rain outside”. What does an umbrella do? It protects us and shields us from the rain or storm so we don’t get wet when we are outside. So, how would you like to have insurance to protect you like an umbrella does during your “rainy” seasons in life? I think most of us would agree that we would love to have something like that. That is what Insurance is all about. They are there to protect you and help you out when the storms of our lives rage and there isn’t enough money anywhere else to cover what has happened to you. Insurance was started in 1998 by a father and son combination in which the father was working for an Excess and Surplus (E&S) Lines Broker and the son had just finished college and began working for an Excess and Surplus Firm. The company that the son started working for decided to sell their umbrella line of business and approached the son to see if he would be interested in purchasing it. He thought about it and wasn’t going to buy it unless he could automate it and had some friends that worked in that line of business so he met with them to decide which way to approach the situation, either through going with underwriting the business or crunching the numbers through the financial and accounting side. It was decided that it was best to go with underwriting the umbrella insurance so they had to find a company to do so. The dad has some connections at United National and they discussed the possibility of writing personal umbrella insurance on the internet and United National agreed and out of that came Insurance.


Ironically, they chose not to buy the line of umbrella insurance from the Excess and Surplus Firm but to start up their own from the bottom and go from there. That decision has paid off though with limits being written between $1 million and $10 million depending on whether the clients are a basic risk or a harder to insure risk such as clients that are young and just starting out driving or older and having trouble with seeing or operating/controlling a vehicle and those with a DUI or driving under intoxication. Insurance also offers stand-alone

Commercial umbrella coverage which is harder to write in the normal market and is a lower premium insurance with lots of paperwork. Insurance reduced the time it takes to write one of these policies to help their agents out by getting rid of the paperwork and speeding up other processes. Now it only takes three minutes for the agent to get a quote and three more minutes to process it.


So what exactly is Insurance? It is coverage that kicks in after your homeowners, automobile and tenants policies pay their part. It is over and beyond the regular coverage to keep a person from losing everything should they not have enough regular coverage. It covers if someone is at your place and injured in your pool, while playing a game or just a misfortunate fall and is relatively cheap at just a few hundred dollars for a $1 million policy. Insurance is only available on line with agents and brokers are their means of distribution. Insurance has been asked to write policies direct but declined that invitation due to the fact that this type of insurance is hard to understand. Most of the normal, average, every day Joe’s don’t need this type of insurance. It is for people who have valuable property and the average people don’t really have the answers to the questions that Insurance must ask. Insurance’s main line of customers have assets that can be taken away or lost if a lawsuit would occur such as boats, motorcycles, rental houses or second homes. It is Insurance’s job to make sure these assets are protected in the event of a lawsuit and that their clients have adequate and sufficient insurance to cover anything that could happen to someone while they are on their premises. Clients who have these types of assets need to be aware of the possibilities and protect themselves. Insurance can take the additional risks to provide this type of insurance due to the fact that the process is now more efficient by being done on line and their chances of loss are low even though some of the accidents can be pretty severe in nature. Insurance may go for long periods of time with no claims and then all of a sudden, one will happen but it balances out and still allows Insurance to grow and succeed in the insurance market.


With the way the economy is today, Insurance recognizes that some people are just looking for a reason to sue someone even more so along the coasts and especially in New York City. In today’s world, with the size of the awards in a court settlement being so high, most standard insurance policies would not cover the costs and where would that leave you? The only ways you wouldn’t need Insurance is if you didn’t own a home, have kids, drive cars, have boats or watercrafts or don’t live a ‘normal’ life and this isn’t the case for most of us so people can’t afford not to have an umbrella policy through Insurance.

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