INSURANCE POLICY

CANCELLATION POLICY

Policy premiums paid in full:

You may contact us to cancel your insurance policy at any time by calling Customer Service at 212-607-8337. Cancellation requests submitted via email will require additional documentation, including but not limited to, signing a Cancellation Request/Lost Policy Release (LPR) form. Your policy will be cancelled on the date requested in accordance with the terms and conditions of the policy and you will no longer have coverage after that date. If you wish to avoid a gap in coverage, you must take appropriate action prior to your current policy’s cancellation date. When you cancel your insurance policy, you may be subject to certain charges and fees to the extent permissible under applicable insurance laws and regulations. Any refunds due, less any premium or other amount owed, will be returned to your address on file or to your card/bank account on file within 60 business days of the cancellation (or a shorter time period if required by applicable state law). WE ARE NOT OBLIGATED, AND YOU ARE NOT ENTITLED AND HEREBY WAIVE ANY RIGHT, TO ANY CREDIT OR REFUND FOR ANY CANCELLATION BEYOND THE TERMS SET FORTH IN YOUR INSURANCE POLICY AND AS PERMISSIBLE BY LAW.

Policy premium financed through 3rd party company:

Your insurance policy premiums are paid on a regular billing period based on the payment plan you selected at time of purchase. You may contact us to cancel your insurance policy at any time by calling Customer Service at 212-607-8337. Cancellation requests submitted via email will require additional documentation, including but not limited to, signing a Cancellation Request/Lost Policy Release (LPR) form. If you wish to avoid a gap in coverage, you must take appropriate action prior to your current policy’s cancellation date.
When you cancel your insurance policy, you may be subject to certain charges and fees as set forth by the finance company and to the extent permissible under applicable insurance laws and regulations. For financed policies, any refund due to you will be remitted to you by the premium finance company once the premium finance company is notified, by the insurance carrier, that the policy has been canceled. This process can take up to 60 days. Therefore, your account may be debited for any payments due on that loan within those 60 days (or a shorter time period if required by applicable state law). WE ARE NOT OBLIGATED, AND YOU ARE NOT ENTITLED AND HEREBY WAIVE ANY RIGHT, TO ANY CREDIT OR REFUND FOR ANY CANCELLATION, INCLUDING EARLY CANCELLATION BEYOND THE TERMS SET FORTH IN YOUR INSURANCE POLICY AND AS PERMISSIBLE BY LAW.
Your coverage will cease on the date and time that the cancellation is processed by the insurance carrier. However, you are still subject to the terms and conditions of your premium finance agreement which may require you to make payments after your original request to cancel and before the time of your refund.

For Additional Information

If you have any questions about this Insurance Policy Cancellation Policy, please contact us at 645 Madison Avenue, 19th Floor, New York, NY 10022 or via email at info@elmsure.com.
Terms of Service, Version Updated, August 27, 2019.

Compensation Disclosure Notice

ElmSure conducts business with multiple insurance companies and offers a variety of insurance product and coverage choices. As an insurance producer, we are authorized to confer with insurance purchasers about the benefits, terms and conditions of insurance contracts. ElmSure, through its individual agents, will from time to time, in the course of normal business, offer advice concerning the benefits of particular insurance contracts, sell insurance, and obtain insurance for purchasers. The role of producer or agent in any particular transaction typically involves one or more of these activities.

ElmSure is compensated through commission and contingent fees paid by insurers or agreed to with our clients. This disclosure notice is intended to summarize the methods by which we derive compensation and how these amounts are determined.

You may, upon request, obtain more information about our compensation prior to the issuance to you of any insurance contract, including the amount of compensation we are expected to receive, in whole or in part, on the sale of an insurance contract to you, as well as the compensation we would expect to receive based, in whole or in part, on any alternative quotes presented by us to you.

Commission

We are typically compensated on a commission basis by the insurance company that is selected for the placement of your insurance policy. This commission percentage is determined by the insurance company and is calculated as a percentage of the insurance premium you pay. As such, the compensation we receive may depend on a number of factors, including the insurance contract and the insurer that you select, the volume of business produced by us or the profitability of the insurance contracts provided by us to a particular insurance company.

Contingent Commissions

From time to time, we may also receive contingent commissions from insurers due to the satisfaction of certain provisions. ElmSure’s eligibility for compensation through contingent commissions is measured through criteria including growth, volume, business retention and profitability of placements. These criteria are established by the insurers with whom we do business. Given the nature of how contingent commissions are earned, there is no exact method to determine, with certainty, the impact any one particular insurance policy placement will have on contingent commission arrangements.

Fees

ElmSure charges an agency fee for the placement of insurance policies where permissible under applicable law. Additionally, circumstances may arise, when quoted, that require a fee be paid for the filing of surplus lines policies or the remittance of surplus lines premium tax.

Should you have any questions regarding our compensation for your specific insurance placement or more generally regarding our compensation, please feel free to reach out to your ElmSure agent for more information.

For Additional Information

If you have any questions about this Compensation Disclosure Notice, please contact us at 645 Madison Avenue, 19th Floor, New York, NY 10022 or via email at info@elmsure.com. Terms of Service, Version Updated, August 27, 2019.