Tom Canterino No Comments

St. Thomas Insurance Company_ The Best In Personalized Service

If you’re looking for the best insurance company in St. Thomas, look no further than Reith & Associates Insurance and Financial Services Limited! 

We offer personalized service that is second to none. Our agents will work with you one-on-one to find the right policy for your needs. We are committed to providing our customers with the highest quality of service possible, and we always put our clients first!

Our Agents Are Highly Experienced and Knowledgeable in All Aspects of the Insurance Industry

  • Our agents have many years of experience working with clients from a variety of backgrounds, so they understand what it takes to create a quality policy that meets your needs.
  • They will take the time to get to know you and your specific situation, so they can create a policy that truly works for you. Whether it’s auto insurance, home insurance, or life insurance – our agents have got you covered!

We Offer a Wide Range of Insurance Products to Suit Your Needs

  • At Reith & Associates, we understand that everyone’s needs are different, which is why we have such an extensive selection of insurance options available. Whether you’re looking for basic coverage or comprehensive protection, we can help you find the right policy to fit your unique situation.

We Are Transparent and Accessible – We Will Always Be There for You

  • At Reith & Associates, we pride ourselves on our commitment to customer service. Our agents are always available to answer your questions or address any concerns that you may have about your insurance policy. And because our clients come first, we make sure that all of our policies are clearly explained and easy to understand.
  • So if you’re looking for the best insurance company in St. Thomas, look no further than Reith & Associates Insurance and Financial Services Limited! We have the experience and expertise to help you find a policy that fits your needs – so contact us today and let’s get started!

We Are Highly Rated by Our Loyal Clients and the Local Community

  • Our reputation speaks for itself – we have been consistently rated as one of the top insurance companies in St. Thomas, due to our commitment to providing excellent service and support. Our clients trust us to keep them safe, which is why they keep coming back year after year!

Whether You’re a New Client or an Existing Customer, We Are Always Ready and Willing to Help

  • At Reith & Associates, we believe that everyone deserves the best possible insurance coverage, regardless of their situation. So no matter who you are or what your needs may be, our agents will work tirelessly to find the right policy for you. So don’t settle for anything less – contact us today and let’s get started!  
  • So if you’re looking for the best insurance company in St. Thomas, look no further than Reith & Associates Insurance and Financial Services Limited! Our agents are here to help you find the coverage that you need, so contact us today and let’s get started!

Tom Canterino No Comments

The Ultimate Guide To Insurance Company St. Thomas

If you are looking for a comprehensive guide to the insurance company St. Thomas, you have come to the right place. In this blog post, we will discuss all of the different types of insurance available in the St. Thomas area and provide you with information on how to choose the right policy for your needs. We will also provide tips on how to save money on your insurance premiums and get the best coverage possible!

What is the Ultimate Guide To Insurance Companies?

The ultimate guide to insurance companies is a comprehensive resource that provides information on all of the different types of insurance policies available in St. Thomas.

If you are looking for affordable coverage and expert advice, the ultimate guide to insurance companies is the perfect place for you.

This guide will help you navigate through the complex world of insurance, providing you with all of the information you need to make informed decisions about your coverage.

Whether you are looking for auto, home, life, or health insurance, the ultimate guide has everything you need to find the right policy for your needs.

How Do I Choose The Right Insurance Policy For My Needs?

There are many factors to consider when choosing an insurance policy, and it can be a daunting task to navigate the world of insurance on your own. That’s why it’s important to work with an experienced agent who can help you find the right coverage for your needs.

Some important things to think about when choosing an insurance policy include:

  • Your budget – What are you able and willing to spend on insurance premiums? 
  • Keep in mind that there is a wide range of policies available, so you can find affordable coverage even if you have a limited budget.
  • The type of coverage you need – Do you need auto insurance, life insurance, or home insurance? What about health and disability coverage? Make sure that the policy you choose provides adequate protection for all of your important assets and needs.
  • Your risk profile – How likely are you to be involved in an accident or incident that could lead to a claim? What are your health and financial situation? These are all important factors that will affect the type of coverage you need.
  • The reputation of the insurance company – Insurance companies can vary widely in terms of their level of service, customer satisfaction, and claims processing speed. Make sure that you do your research when choosing an insurance company, and opt for one that has a solid track record of providing great service to its clients.

How Can I Save Money On My Insurance Premiums?

There are many things you can do to save money on your insurance premiums, including:

  • Shopping around – Compare rates from different insurance companies in order to find the best deals. You may be surprised by how much you can save just by switching providers!
  • Bundling your policies – Many insurance companies offer discounts for bundling different types of policies, such as auto and home insurance. Talk to your agent about this option and see what kind of savings are available.
  • Maintaining a good credit score – Your credit score is often used to determine your insurance premiums, so maintaining a good score can help you save money on your coverage.

Overall, the ultimate guide to insurance companies in St. Thomas is an invaluable resource for anyone looking for affordable and reliable coverage. Whether you are just starting out or need to make changes to your existing policy, this guide has everything you need to make informed decisions about your insurance needs. So what are you waiting for? Start exploring the world of St. Thomas insurance today!

Tom Canterino No Comments

The 3 Types Of Insurance You Must Check Out For Your Car

Making sure you have the right insurance coverage for your car is one of the most important things you can do to protect yourself and your family. There are a lot of different types of car insurance, and it can be difficult to know which ones you need. In this blog post, we will discuss the three most important types of car insurance that everyone should have.

Liability Insurance

  • This is the most basic type of car insurance, and it is required in almost all states. Liability insurance covers damages that you cause to other people or property with your car. It does not cover any damage to your own car or injuries to yourself or your passengers. If you are at fault in an accident, liability insurance will pay for the repairs to the other car and for any medical bills that result from the accident.
  • If you are financing your car, your lender will require you to have full coverage insurance, which includes liability insurance as well as collision and comprehensive coverage.
  • The main advantage of liability insurance is that it helps protect you financially if you are in an accident and it is determined that you are at fault. If the accident causes damage to another person’s car or property, or if someone is injured, liability insurance will pay for the repairs or medical bills up to the limit of your policy. This can help you avoid having to pay out of pocket for these expenses, which can be very expensive.
  • Collision and comprehensive insurance cover damages to your own car that are caused by things other than collisions. Collision coverage pays for damages if you hit another car or object, and comprehensive coverage pays for damages caused by things like fire, theft, or weather.
  • If you are financing your car, your lender will require you to have full coverage insurance, which includes liability insurance as well as collision and comprehensive coverage. If you own your car outright, collision and comprehensive coverage are optional but highly recommended.
  • The main advantage of collision and comprehensive insurance is that it will pay for repairs to your own car if it is damaged in an accident or by some other type of event, such as a fire or theft. If your car is totaled in an accident, collision insurance will pay you the value of your car, up to the limit of your policy.

Medical Payments or Personal Injury Protection

  • This type of insurance pays for medical bills and other expenses that result from injuries caused by a car accident. It can also cover lost wages if you are unable to work because of your injuries.
  • Medical payments or personal injury protection is not required in all states, but it is a good idea to have this coverage if it is available. 
  • The main advantage of medical payments or personal injury protection is that it can help you to pay for medical bills and other expenses that result from injuries caused by a car accident. This type of insurance can also cover lost wages if you are unable to work because of your injuries

Tom Canterino No Comments

Probably The Better Way of Finding Rates

There are many ways of finding insurance rates. You can go online, to the agent, or even call a few companies to get quotes. However, there is a better way. A more efficient way that will give you more accurate rates.

Go to Your State’s Insurance Department Website

  • Each state has an insurance department that regulates the insurance companies in that state. The website will have a list of all the licensed insurance companies in the state. It will also have contact information for each company.
  • You can use this website to find out which companies offer the type of insurance you are looking for. You can also find out what the complaint ratio is for each company. The complaint ratio is the number of complaints the department has received per 100,000 policies in force. This is a good way to weed out the companies that have a lot of unhappy customers.

Call the Companies on the List and Ask for Rates

  • Once you have a list of companies, call each one and ask for rates. Make sure to give them the same information so that you are comparing apples to apples. You can also ask if they offer any discounts that you might be eligible for.
  • The best way to find accurate insurance rates is to use the state insurance department website to get a list of companies and then call each one to get quotes. This method will take a little more time than going online or using an agent, but it is worth it to make sure you are getting the best rates possible.

Compare the Rates and Choose the Best One

  • Once you have all of the quotes, compare them to see which one is the best for you. Make sure to take into account any discounts that you might be eligible for. Once you have found the best rate, contact the company and get started on your policy.
  • Finding accurate insurance rates doesn’t have to be difficult. By using the state insurance department website, you can get a list of companies and then call each one to get quotes. This method will take a little more time than going online or using an agent, but it is worth it to make sure you are getting the best rates possible.

Get Started On Your Policy

  • Now that you have found the best rate, contact the company and get started on your policy. Make sure to ask any questions that you might have so that there are no surprises down the road. Congratulations, you are now on your way to being properly insured!

Our team can help you find the best rates possible. Give us a call today and let us help you get started on your policy. We are here to answer any questions that you might have and help you get the coverage that you need. Contact us and let us help you find the best rates possible.

Tom Canterino No Comments

The Complete Guide To Getting The Best Insurance Quotes

There is no question that everyone needs insurance. The hard part is finding the best insurance quotes for your specific needs. In this comprehensive guide, we will walk you through the process of getting the best insurance quotes for your unique situation. We will discuss how to find the right insurance company, how to compare rates, and how to get the most value for your money. Let’s get started!

The first step in getting the best insurance quotes is to find the right insurance company. There are many different companies out there that offer insurance, so it’s important to do your research and find one that is reputable and has a good track record. Once you have found a few potential companies, the next step is to get quotes from each one.

When you are comparing insurance quotes, it’s important to compare apples to apples. Make sure you are looking at the same coverage levels and deductibles. Also, be sure to read the fine print carefully so that you understand what is and is not covered. Once you have compared all of the different options, you can then make an informed decision about which company is right for you.

The last step in getting the best insurance quotes is to negotiate. Don’t be afraid to ask for a lower rate or better coverage. The worst that can happen is that the company will say no, but it never hurts to ask. Remember, the goal is to get the most value for your money, so don’t be afraid to haggle a bit.

How to get the most value for your money?

Decide what kind of insurance you need

There are many types of insurance, so it’s important to figure out which one is right for you. Do you need health insurance? Auto insurance? Homeowners insurance? Make a list of the types of coverage you need and then research different companies that offer those policies.

Get quotes from different companies

Once you know what kind of insurance service you need, the next step is to get quotes from different companies. There are a few different ways to do this:

  • You can go online and get quotes from different companies. This is usually the quickest and easiest way to get quotes.
  • You can call different companies and ask for quotes. This can be a bit more time-consuming, but it’s a good way to get a feel for how each company operates.
  • You can visit different companies in person. This is the best way to get a feel for the company and the customer service they provide.

Once you have quotes from different companies, the next step is to compare them.

  • Compare the coverage levels and deductibles. Make sure you are comparing apples to apples here.
  • Read the fine print carefully. You want to make sure you understand what is and is not covered under each policy.
  • Compare the prices. This is probably the most important factor in deciding which company to choose.
  • Negotiate. Don’t be afraid to ask for a lower rate or better coverage. The worst that can happen is that the company will say no, but it never hurts to ask.

By following these simple steps, you can be sure that you are getting the best insurance quotes for your needs. Don’t waste any more time searching for insurance; follow our guide and get the coverage you need at a price you can afford.

Nikki Johnson No Comments

Pitfalls of Directors & Officers Insurance with Private Companies

Directors & Officers Business Meeting Image

After assessing your company’s risks, you’ve made the decision to purchase Directors and Officers insurance. Now what?

It’s essential to know the ins and outs of your Directors & Officers (D&O) policy, including policy limits, what’s covered and, most importantly, what’s not. Why? Because you may assume you’re covered for a claim when policy exclusions could apply. As time-consuming as it may be, it’s critical to read the fine print in your policy, as the language in the exclusions may affect the coverage of potential claims.

TYPES OF EXCLUSIONS IN D&O POLICIES

Some exclusions that insurers and insureds dispute concern incidents that happened or allegedly happened before the D&O policy went into effect. In some cases, the insurer simply won’t cover the claim; in other cases, the insurer may render the policy void.

  • The Known Circumstances Exclusion. With this exclusion, the insurer will not pay for claims that arise from a negligent act, error, omission or personal injury that occurred prior to the start date of the D&O policy. The insurance carrier attests that the insured knew or could have foreseen that any of the above happened and could have been the basis for a claim. This exclusion is found more frequently in private and non-profit policies than in public company policies. What is especially important to note is that the premium is usually not returned to the insured if it is determined that they withheld their knowledge of circumstances that occurred prior to the start of the policy.

In the case of a rescission scenario, the premium is returned to the insured. Rescission means that the policy is rendered void after the insurer discovers that the insured answered untruthfully to any of the warranty questions on the insurance application. Warranty questions ask the applicant if they know of any fact, circumstance or situation that might reasonably be expected to give rise to a claim. Rescission also could occur if the applicant provided false or misleading information in the company’s financial data. These scenarios usually happen only in public company D&O policies.

  • Prior Acts Exclusion. Similar to the known circumstance exclusion, this exclusion is also concerned with pre-policy circumstances. The insurer is not responsible for wrongful acts committed or attempted before the coverage was enacted. A wrongful act is that which damages the rights of another. These acts are not only limited to criminal offences but can also include acts that result in civil lawsuits.

Other exclusions found in D&O policies revolve around the duty to defend and defense expenses in the event of a claim. If the insurer has the right to the duty to defend, then they are able to select the insured’s defense and have greater control over the rates and billing practices of the defense counsel.

  • Reasonableness of Defense Fees. This is more prevalent in private company and non-profit D&O policies, as most of those policies give the insurer the right and duty to defend the insured’s claims, whereas public companies retain the right to choose their own defense counsel. If this is written into your D&O policy, it means that the insurer will only pay for “reasonable and necessary” defense fees. Some insurers also provide detailed information on litigation guidelines.
  • Consent to Settle and the Hammer Clause. If the insurance carrier has no duty to defend, such as in cases against public companies, then they have no right to settle the case when they want to settle it. As a result, the insured may elect to continue with litigation, even if that would exhaust the policy limit, because the defendants don’t want to settle the case to be perceived as an admission of their wrongdoing or incompetence. This creates a lot of tension between insurers and the insured, especially if the insured does not include the insurer in the settlement discussion. Therefore, some insurance policies have a consent to settle exclusion in the policy, prohibiting the insured from settling the claim without the insurer’s prior written consent.

The hammer clause is similar to the consent to settle exclusion, although less common. Basically, the hammer clause informs the insured that if they go against the insurer’s recommendation to settle, the insured will be responsible for any judgment won by the plaintiff and legal fees that go beyond the settlement offer.

Most D&O insurers expect that D&O insurance is only a part of a company’s wider insurance portfolio. In some cases, however, this assumption doesn’t always prove to be true. Certain firms may go without Umbrella insurance or even General Liability insurance policies, making D&O one of their only forms of insurance. Because of this, many D&O insurers write exclusions in their policies stating what claims they won’t cover because other types of insurance would potentially cover the claim.

  • “Other Insurance” Exclusions. D&O insurance is just one form of insurance in a comprehensive risk management plan for most companies. Because of this, most D&O policies have exclusions for claims that involve bodily injury, property damage and fiduciary claims, which could be covered by other types of insurance such as a Commercial General Liability policy or a Fiduciary Liability policy. To protect their best interests in the event of a claim, the insured should notify all insurers from their various policies, thus allowing the insurers to determine who is liable for the claim.
  • Contractual Liability Exclusion. This exclusion is especially pertinent to private companies and non-profits that have broad entity coverage under a D&O policy. Since contractual obligations are not liabilities imposed by law but rather an obligation that is voluntarily undertaken, many D&O policies have an exclusion that prevents insurers from having to cover contract-related claims, especially breaches of contract that arise when the company enters into a contract with another party.

When examining this exclusion in your D&O policy, make special note of the wording of this clause. This exclusion can substantially affect the extent of your coverage under the policy—the narrower the scope of the exclusion, the better for you.

D&O insurance protects directors and officers from poor business decisions, but most policies do not protect them from wrongful acts and gross misconduct. These exclusions include:

  • Conduct Exclusions. Most D&O policies have exclusions that deny coverage for certain types of misconduct. There are two categories of misconduct exclusions:
    • For loss relating to fraudulent or criminal conduct
    • For loss relating to illegal profits or remuneration to which the insured was not legally entitled.

It’s especially important to look at the wording on these exclusions in the policy; subtle wording differences can significantly impact the accessibility of the coverage.

  • Insured vs. Insured Exclusion. In some D&O cases, one insured director may bring a claim against another insured director, and some insurers do not want to cover this because they don’t want to get involved in the infighting between a company’s directors and officers.

Obtaining D&O insurance is important to protect the directors and officers of your company; but simply purchasing the policy won’t benefit you unless you know the extent of your coverage.

Do you understand your D&O insurance policy? Contact Reith & Associates Insurance and Financial Services Limited today for more information about your coverage and exclusions.

Dan Reith, Principal Broker
Dan Reith, Principal Broker

Dan Reith

Principal Broker
Reith & Associates Insurance and Financial Services Limited
https://reithandassociates.com
Dan Reith BA(Hons) CAIB