Table of Contents Disclaimer
This quotation is offered based upon exposures to loss that were made known to IMA at the time of this quotation. If any of the information you provided is inaccurate, the terms and conditions, premium, or even availability of the insurance summarized here may be subject to change. If you have changes in your business operations at any time, please notify us as soon as possible so coverage can be discussed.
This presentation is intended as a summary only and does not include all of the policy terms, conditions, limitations, and exclusions. Specimen copies are available for your review prior to the binding of coverage, upon your request. Please refer to your actual policies for specific coverage information. In the event of a discrepancy between this presentation and the policy, the policy will supersede this presentation.
Requests to bind or change coverage through email, voice mail or other means will not take effect until you receive written communication from your IMA representative confirming coverage is bound.
To be used for General Liability, Auto Liability, Employee Benefits Liability, Employer’s Liability, Fiduciary/D&O, Specialty Lines Liability, Excess/Umbrella Liability: Higher limits of liability may be available. Please notify IMA if you are interested in a quote.
Property Value Determination
Property value determination is ultimately the insured’s responsibility. Values should be reviewed for accuracy to avoid the possibility of being underinsured.
Premium Summary Disclaimer* (only use if document has premium)
These premiums may be subject to additional state taxes, surcharges or assessments, surplus lines taxes, and/or fees other than those shown above.
The IMA Financial Group, Inc. is a national financial services company with numerous affiliates and subsidiaries, including IMA, Inc., Signature Select LLC, IMA Acumen, LLC, CORnerstone Risk Solutions, LLC, Towerstone, Inc., Eydent Insurance Services, LLC, and TrueNorth, Inc., which owns TrueNorth Securities, Inc. (collectively the “IMA Group”). These entities, excluding TrueNorth, Inc. and IMA Acumen, LLC, are insurance producers licensed in accordance with respective state requirements. Insurance producers are authorized by their license to confer with insurance purchasers about the benefits, terms and conditions of insurance contracts; to offer advice concerning the substantive benefits of particular insurance contracts; to sell insurance; and to obtain insurance for purchasers. The producer may have access to more than one insurance company to place the purchaser’s coverage, The producer may have authority to obligate the insurance company on the purchaser’s behalf and as a result may be required to act within the scope of contractual agreements with the insurer. Compensation will be paid to the producer by the insurer or other third parties. Compensation may vary depending on a number of factors, including the insurer and the insurance contract the purchaser selects, the volume of business the producer places with the insurer, and the profitability of that business. In addition to the compensation received by the IMA Group, other parties, such as excess and surplus lines brokers, wholesalers, reinsurance intermediaries, underwriting managers and similar parties (some of which may be owned in whole or in part by the IMA Group), may earn and retain usual and customary commissions or other compensations for providing insurance products to a Client under separate contracts with insurers or reinsurers. Such payments will not be considered as compensation to IMA and will not offset any compensation payable to IMA. In addition, there may be referral compensation shared within the IMA Group. Further, the IMA Group may receive contingent or incentive payments or allowances from insurers or finance companies based on the size or performance of an overall book of business produced with them by the IMA Group. Additionally, expense reimbursements for travel or technology enhancements, salary offsets or de minimus gifts may be provided. The IMA Group may also receive interest on premium being held prior to disbursement. Upon written request, the IMA Group will provide to Client additional details and information about any and all compensation arrangements for insurance placed and/or quoted on behalf of the Client.
Named Insured Summary
Please check to ensure all Named Insureds are shown above. If an entity is not listed above (including partnerships, corporations, joint ventures, limited liability companies, individual proprietorships, etc.), they are not included as a Named Insured under any insurance policy. We must be notified as soon as possible of the formation or purchase of new companies so that the insurance ramifications may be considered. Do not assume they are covered automatically.
Admitted/Surplus Lines/Guaranty Fund Data/Carrier Insolvency
The term admitted carrier refers to an insurer which has been approved or licensed by a given state insurance department to write business within that state. Such carriers are also referred to as authorized carriers. An authorized carrier is protected by the State Guaranty Fund should an insolvency (bankruptcy) of the insurer occur. The protection is subject to certain maximum per claim limits and other restrictions/limitations. To review the guaranty laws for your particular state of operation, go to the website, http://www.ncigf.org/. A surplus lines carrier, also known as a non-admitted or unauthorized carrier, in a given state is not protected at all by the Guaranty Fund in that state should the carrier become insolvent. Nor has the policy wording or rates been reviewed by the Insurance Department of the State. IT IS IMPORTANT TO KEEP IN MIND THAT AN ADMITTED OR SURPLUS LINES STATUS, AS WELL AS THE RESULTING APPLICABILITY OF ANY STATE’S GUARANTY FUND, ARE ISSUES ONLY IF/WHEN A CARRIER IS DECLARED INSOLVENT. IMA DOES NOT GUARANTEE THE FINANCIAL SOLVENCY OF ANY INSURANCE CARRIER.