Endurance American Specialty Insurance Company, Delaware: Overview, Contacts, Services, Finances, Coverage, Claims, Compliance, Renewal & Cancellations, Reviews

Endurance American Specialty Insurance Company: Delivering Tailored Coverage Solutions.

An image illustration of Endurance American Specialty Insurance Company
Endurance American Specialty Insurance Company: Delivering Tailored Coverage Solutions.

Are you looking for a reliable and affordable insurance company in Delaware?

If so, you might want to consider Endurance American Specialty Insurance Company (EASIC).

In this blog post, I will give you an overview of EASIC and its:

Services, products, financial details, coverage, claims, legal and compliance, renewals and cancellations, company culture, and customer experiences.

By the end of this post, you will have a better idea of whether EASIC is the right choice for your insurance needs.

Company Details

History and Founding Year:

EASIC is a Delaware-based insurance company that was founded in 1982.

It is a subsidiary of Endurance American Insurance Company (EAIC), which is part of the Endurance Specialty Holdings group.

EASIC offers specialty insurance products and services to various industries and markets, such as construction, energy, environmental, healthcare, professional liability, and property.

CEO and Leadership Team:

The CEO and President of EASIC is John V. Del Col, who has over 30 years of experience in the insurance industry.

He leads a team of experienced and qualified executives, managers, underwriters, claims professionals, and support staff.

Market Share and Company Size:

EASIC has a market share of 0.02% in the US property and casualty insurance industry and has total assets of $1.2 billion and policyholders’ surplus of $392 million as of December 31, 2020.

Basic Information

Here is some basic information about EASIC that you might find useful:

Category Information
Phone Number (914) 468-8000
Address 333 Westchester Avenue, White Plains, NY 10604
Customer Service Contact customerservice@endurance.bm
Policy Details Varies by product and service
Email Address info@endurance.bm
Fax Number (914) 468-8010
Operating Hours Monday to Friday, 9:00 AM to 5:00 PM (Eastern Time)

Services & Products

EASIC offers a wide range of insurance products and services to meet the diverse needs of its clients.

Some of the types of insurance that EASIC provides are:

Financial Details

EASIC strives to provide competitive and affordable premium costs for its clients.

The premium costs vary depending on the type of insurance product or service, the coverage amount and limits, the deductible amount, the risk factors involved, and other factors.

EASIC also offers various payment options for its clients’ convenience.

Clients can choose to pay their premiums monthly, quarterly, semi-annually, or annually, depending on their preference and budget.

Clients can also pay their premiums online, by mail, by phone, or by electronic funds transfer (EFT).

EASIC also offers discounts and promotional offers for its clients who qualify for them.

Some of the discounts that EASIC offers are:

EASIC has a high claim payout ratio, which means that it pays out a large percentage of its premiums in claims.

According to the NAIC, EASIC had a claim payout ratio of 85.6% in 2020, which is above the industry average of 69.4%.

This indicates that EASIC is responsive and generous in settling its clients’ claims.

Coverage Details

EASIC provides comprehensive and flexible coverage for its clients.

However, there are some policy exclusions, coverage limits, and add-ons or riders that clients should be aware of.

Some of the policy exclusions that EASIC applies are:

  • Intentional acts: EASIC does not cover damages or losses that result from intentional or fraudulent acts by the insured or anyone acting on their behalf.
  • War or terrorism: EASIC does not cover damages or losses that result from war, invasion, civil unrest, terrorism, or similar events.
  • Nuclear hazards: EASIC does not cover damages or losses that result from nuclear reactions, radiation, or contamination.
  • Wear and tear: EASIC does not cover damages or losses that result from normal wear and tear, deterioration, or depreciation of the insured property.

Coverage limits that EASIC imposes are:

  • Liability limits: EASIC limits the amount of liability coverage that it provides for each occurrence and for each policy period.
  • Sublimit: EASIC limits the amount of coverage that it provides for certain types of damages or losses within the policy limit.
  • Deductibles: EASIC requires the insured to pay a certain amount of money out of pocket before it pays for the claim.

Some of the add-ons or riders that EASIC offers are:

  • Replacement cost: EASIC offers an option to replace the damaged or lost property with a new one of similar quality and value, without deducting for depreciation.
  • Inflation guard: EASIC offers an option to increase the coverage amount annually based on the inflation rate, to maintain the purchasing power of the insured property.
  • Identity theft: EASIC offers an option to cover the expenses and losses incurred due to identity theft, such as legal fees, credit monitoring, and fraud resolution.

Claims

The claim process involves the following steps:

  • Report the claim: The insured should report the claim to EASIC as soon as possible after the incident. The insured can report the claim online, by phone, by email, or by fax.
  • Review the claim: EASIC will assign a claim representative to review the claim and contact the insured for more details.
  • Settle the claim: EASIC will issue a payment to the insured or to a third party, depending on the situation.

The required documents for claims vary depending on the type of insurance product or service and the nature of the damage or loss.

Some of the common documents that EASIC may request are:

  • Policy number and declaration page
  • Proof of ownership and value of the property
  • Police report or fire report
  • Photos or videos of the damage or loss
  • Repair estimates or invoices
  • Medical bills or records

The average claim approval time depends on the complexity and severity of the claim.

EASIC strives to approve claims within 30 days of receiving all the necessary information and documentation.

However, some claims may take longer due to disputes, delays, or investigations.

Legal & Compliance

EASIC respects the privacy and security of its clients’ personal and financial information.

EASIC has a privacy policy that explains how it collects, uses, shares, and protects its clients’ information.

The privacy policy also explains how clients can access, correct, or delete their information.

Clients can view the privacy policy on EASIC’s website or request a copy by mail.

EASIC also has terms and conditions that govern the use of its website and online services.

The terms and conditions outline the rights and responsibilities of EASIC and its users.

The terms and conditions also include disclaimers, limitations of liability, and dispute resolution clauses.

Users can view the terms and conditions on EASIC’s website or request a copy by mail.

Renewals & Cancellations

EASIC provides a convenient and flexible policy renewal process for its clients. The policy renewal process involves the following steps:

EASIC also allows its clients to cancel their policies at any time.

Some of the cancellation policy and fees that EASIC applies are:

  • Pro-rata cancellation: EASIC will refund the unused portion of the premium if the insured cancels their policy for a valid reason, such as moving to another state, selling their property, or switching to another insurer.
  • Short-rate cancellation: EASIC will charge a cancellation fee if the insured cancels their policy for no valid reason or before the policy term ends.
  • Flat cancellation: EASIC will charge no cancellation fee if the insured cancels their policy within a certain period after the policy inception date, usually 10 days.

EASIC also provides grace periods for its clients who are late in paying their premiums.

A grace period is a period of time after the premium due date during which the policy remains in force and no late fees are charged.

The grace period varies depending on the type of insurance product or service and the payment frequency.

Some of the grace periods that EASIC offers are:

  • Monthly payments: 10 days
  • Quarterly payments: 15 days
  • Semi-annual payments: 20 days
  • Annual payments: 30 days

Company Culture

EASIC has a strong and positive company culture that reflects its values, vision, and mission.

The Company values integrity, excellence, innovation, teamwork, and customer satisfaction.

EASIC’s vision is to be a leading specialty insurance provider in the US and globally.

The Company’s mission is to deliver superior products and services to its clients and stakeholders.

EASIC fosters a culture of learning, growth, and diversity among its employees.

The Company provides training, development, and mentoring opportunities for its employees to enhance their skills and knowledge.

EASIC also supports employee engagement, recognition, and wellness programs to motivate and reward its employees.

They embrace diversity and inclusion in its workforce and promotes a respectful and collaborative work environment.

Customer Experiences and Reviews

  • “I have been with EASIC for over 5 years, and I am very happy with their service. They have always been responsive, helpful, and fair in handling my claims.

Their rates are reasonable, and their coverage is comprehensive. I would highly recommend them to anyone looking for insurance.” – John S., Delaware

FAQs

  • How can I get a quote from EASIC?

You can get a quote from EASIC by visiting their website or calling their toll-free number. You can also contact an agent or broker who represents EASIC in your area.

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