What's the deal with International Water Saftey Foundation

[Cat-n-Around]

I look at changing my insurance over to International Water Safety Foundation but when I check with my bank they said they wouldn't except insurance from them. The price is about half of what I'm paying now.

[Wobble]

Originally Posted by Cat-n-Around

I look at changing my insurance over to International Water Safety Foundation but when I check with my bank they said they wouldn't except insurance from them. The price is about half of what I'm paying now.

Cant find them here http://www.ambest.com/

are they an insurance co? do you have the name exactly?

[thedonz]

I used them for several years with my Donzi, however I never had a claim.....there have been some cautionary remarks on the board about that company though....

[Wobble]

found this on http://www.iwsf.us/index.htm

"According to the U.S. laws and jurisprudence, because of the status of out-of-state organizations, any state licensing requirements are not applicable to both IWSF and NAMGIC. It is also important to point out that it would be beyond the competence of any state to enact a statute which would deny a citizen’s right to enter into any insurance contract with a foreign or a non-admitted insurance company, such right being protected and guaranteed by the 14th Amendment of the U.S. Constitution."

Basically not licensed to do business in the US, buyer beware.

[Cat-n-Around]

Thanks for the info.