| Transurance Services, LLC |
Frequently Asked Questions
How do I obtain Transurance coverage for my clients?
Transurance is underwritten on a non-admitted basis by several insurance
carriers and is eligible to any qualified surplus lines broker. Contact us
for details.
What information is required for a submission?
The same information that was used to secure the indexed policy.
How much commission is paid to the placing insurance broker?
This depends on the insurance carriers that are underwriting Transurance.
Who is responsible for paying the premium taxes?
Generally, the surplus lines broker is responsible for collecting and paying
the Surplus Lines Tax.
Isn't it problematic for us to admit that insurance doesn't cover everything.
If insurance claims were always fully paid, brokers would not spend so
much effort negotiating policy wording or expanding their claim consulting
units. Although seasoned risk managers know that collateral damages
are significant, the major brokers are in a better position to know about
these issues than anyone else. Ignoring the shortcomings of traditional
insurance is not a problem when there is nothing that can be done about
them. Now that property Transurance exists, brokers must make their
clients aware of this coverage and explain why this coverage is valuable.
Transurance is underwritten on a non-admitted basis by several insurance
carriers and is eligible to any qualified surplus lines broker. Contact us
for details.
What information is required for a submission?
The same information that was used to secure the indexed policy.
How much commission is paid to the placing insurance broker?
This depends on the insurance carriers that are underwriting Transurance.
Who is responsible for paying the premium taxes?
Generally, the surplus lines broker is responsible for collecting and paying
the Surplus Lines Tax.
Isn't it problematic for us to admit that insurance doesn't cover everything.
If insurance claims were always fully paid, brokers would not spend so
much effort negotiating policy wording or expanding their claim consulting
units. Although seasoned risk managers know that collateral damages
are significant, the major brokers are in a better position to know about
these issues than anyone else. Ignoring the shortcomings of traditional
insurance is not a problem when there is nothing that can be done about
them. Now that property Transurance exists, brokers must make their
clients aware of this coverage and explain why this coverage is valuable.
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