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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 outside. So, how would you like to have insurance to protect you as an umbrella does during your “rainy” seasons? 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 elsewhere to cover what has happened to you. Insurance was started in 1998 by a father and son combination in which the father worked 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. Hence, he met with them to decide which way to approach the situation, either by underwriting the business or crunching the numbers through the financial and accounting sides. It was agreed that it was best to support the umbrella insurance, so they had to find a company. The dad has connections at United National and discussed the possibility of writing personal umbrella insurance on the internet. 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 primary 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 is harder to write in the stock market and is lower premium insurance with lots of paperwork. Insurance reduced the time it takes to register 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? Coverage kicks in after homeowners, automobile, and tenants’ policies pay their part. It is over and beyond the regular scope to keep a person from losing everything should they not have enough standard 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 online with agents, and brokers are their means of distribution. Insurance has been asked to write policies directly but declined that invitation because this type of insurance is hard to understand. Most normal, average, everyday Joe’s don’t need this type of insurance. It is for people with valuable property and ordinary people who don’t have the answers to the questions that Insurance must ask. Insurance’s main line of customers has assets that can be taken away or lost if a lawsuit occurs, such as boats, motorcycles, rental houses, or second homes. Insurance’s job is to ensure 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 with these assets must be aware of the possibilities and protect themselves. Insurance can take the additional risks to provide this type of insurance because it is now more efficient by being done online, and continuances of loss are low even though some accidents can be pretty severe. Therefore, Insurance may go for long periods 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 how the economy is today, Insurance recognizes that some people are just looking for a reason to sue someone, even more so along the coasts, especially in New York City. However, in today’s world, with the size of the awards in a court settlement being so large, 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 watercraft, or don’t live a ‘normal’ life, and this isn’t the case for most of us, so people can’t afford to have an umbrella policy through Insurance.

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