sy goldberg

Read their website and see what they say about US and state insurance law,check with the NJ insurance department,PM me and I wil give you the contact name of a former NJ boat insurance agent who had his office raided by the FBI,had his license revoked for writng with them,and was fined $10,000.I have an offer from them to be an agent for them with a commission structure up to 30% and I declined as I am far too old to be arrested.

scarabman

iTrader: (1)

I see nothing on their website in regards to what you speak of. As far as an agent getting raided by the FBI, there is probably more than what meets the eye going on there.

Again, I ask, if the IWSF are criminals in the eye of the government, why are they still allowed to write policies in the US? Why do the banks not take issue with policies underwritten by IWSF on boats they finance? Seems the banks would have a significant interest in this, no???

I know people who have had claims with them that have been settled. I know of quite a few people with HIGH DOLLAR boats insured thru them. I was recommended to them by someone fairly high profile in the boating industry who is no dummy. What gives? If it really is a scam it is not a very transparent one. Of course I would like to know if it is!

sy goldberg

Look on their website under insurance benefit overview where they tell you that they don't sell insurance and the our laws mean nothing because they are a foreign company.I insure over 4000 boats and if I could make 30% commission legally I would be all over this deal.I can give you the name and phone number of the agent that was arrested if you want it.I hope that your friend that refers business to them understands that they the first to get sued when a problem arises because IWSF has no US location.I am presently bringing the major US marine lending companies the info on this group.

scarabman

iTrader: (1)

OK. I did find the info you are referring to. I understand the implications of same, however, this still doesnt mean that the coverage provided is a scam?? It means, to me, that IF a problem does arise there may be no legal recourse. Certainly not the best of all scenarios but tell me about people who have been beat by IWSF, this is what I need to know about. If people are getting screwed I want to know about it. If we are only talking about the potential for lack of protection under US Law its a different story.

Truth be told, I was with ACE for quite a few years, for awhile thru your agency, for awhile thru Jack Martin. They have since refused coverage to me, for life I was told, after having a significant claim in which the disposition of same was a very unpleasant and unsatisfactory experience for me.

Panther

How about Gieco?? They've been plastering their ads all over the billboards here in NJ......

GoFastSonic

Thanks Panther but they wont touch a go fast

Panther

Did you try Liberty Mutual? They have a policy called Liberty Guard.

I have the house and cars thru them and they did mine no problem, full value, stated horsepower, trailer etc. etc. and it was about 40% cheaper than the competition because of all the discounts I get for multiple policies and tenure. The policy is equal to what I had previously, it was a no brainer..

GoFastSonic

Do you have a number? Thanks

Panther

Try this;

Liberty Mutual Ins. Co.
100 Willowbrook Rd.
Freehold, NJ 07728
(732) 308-3868

http://www.libertymutual.com/persona.../freehold.html

Michael Traina is my agent....

hunster

OMG I went to college with mike traina! Good guy.