We understand that a customer does not always know insurance terms, and so we discuss policies ingreat detail, and educate clients when we issue the policyWhen this was a new policy, the client satdown with one of our producers and reviewed the coverages and the policy she was going to take outfor her businessWe do our best to review coverages to the client's satisfactionlf there is ever a timewhen an insured of ours would want to understand something better, we would be happy to sit withthem and explainWith all of the terms and coverages to review together, it would be difficult for us toknow what the client does not understand, without them being engaged in the conversation and sharingthat they did not understand something discussedThe “25% minimum earned premium” term existedon the new policy, on the renewal quote, and on the accompanied email for the renewalquote.This policy was issued on 6-23-17, and was not requested to be cancelled until 7-10-Therefore, thepolicy was in force, and the 25% minimum earned premium appliesThere was a significant period oftime that the policy was in force before it was requested to be cancelledWe have asked the company,but they will not waive the 25% minimum earned premium on a policy that was in force for that periodof timeThis would be the same for any insured.What was previously shared was that the insured was made aware of the minimum earned premiumdue, even if she did not understand this term the way she feels is sufficientShe was made aware of thecost she would incur to cancel the policy, and it was itemized in the 7-6-email, listing out what thecost that 25% of the minimum earned premium would be, and what the costs of the stamp fee, surpluslines fee, and policy fee would be should she choose to cancelThe total amount was visible on theemail, so it was clear, beyond stating the term ”25% minimum premium earned" that cancelling thepolicy would come at a cost, and showed her what 25% minimum premium looked likeFour days afterthat email, she still decided to cancel the policy on 7-10-17.We understand why the insured wishes for us to ?nd a way to resolve the issue, and we had tried toreach out to the company and find a way to lessen the impact of her choice to cancel, but the companywill not show flexibility in the situation, and due to our clear warnings of the cost to cancel, and theinsured’s choice to move forward with the cancel after the warnings, we cannot be flexible with the finalcancel billWe again apologize for the issue and inconvenience.Thank you,HC Kerstetter Company
We understand that a customer does not always know insurance terms, and so we discuss policies ingreat detail, and educate clients when we issue the policyWhen this was a new policy, the client satdown with one of our producers and reviewed the coverages and the policy she was going to take outfor her businessWe do our best to review coverages to the client's satisfactionlf there is ever a timewhen an insured of ours would want to understand something better, we would be happy to sit withthem and explainWith all of the terms and coverages to review together, it would be difficult for us toknow what the client does not understand, without them being engaged in the conversation and sharingthat they did not understand something discussedThe “25% minimum earned premium” term existedon the new policy, on the renewal quote, and on the accompanied email for the renewalquote.This policy was issued on 6-23-17, and was not requested to be cancelled until 7-10-Therefore, thepolicy was in force, and the 25% minimum earned premium appliesThere was a significant period oftime that the policy was in force before it was requested to be cancelledWe have asked the company,but they will not waive the 25% minimum earned premium on a policy that was in force for that periodof timeThis would be the same for any insured.What was previously shared was that the insured was made aware of the minimum earned premiumdue, even if she did not understand this term the way she feels is sufficientShe was made aware of thecost she would incur to cancel the policy, and it was itemized in the 7-6-email, listing out what thecost that 25% of the minimum earned premium would be, and what the costs of the stamp fee, surpluslines fee, and policy fee would be should she choose to cancelThe total amount was visible on theemail, so it was clear, beyond stating the term ”25% minimum premium earned" that cancelling thepolicy would come at a cost, and showed her what 25% minimum premium looked likeFour days afterthat email, she still decided to cancel the policy on 7-10-17.We understand why the insured wishes for us to ?nd a way to resolve the issue, and we had tried toreach out to the company and find a way to lessen the impact of her choice to cancel, but the companywill not show flexibility in the situation, and due to our clear warnings of the cost to cancel, and theinsured’s choice to move forward with the cancel after the warnings, we cannot be flexible with the finalcancel billWe again apologize for the issue and inconvenience.Thank you,HC Kerstetter Company