| Transurance Services, LLC |
Frequently Asked Questions
How are collateral damages proved?
To receive a Transurance payment, one merely has to show that they
received a payment from the indexed insurance policy that is referenced
by Transurance.
When does the policy pay?
The Transurance policy pays after the indexed insurance policy pays. If
partial payments are made, the Transurance policy will make partial
payments as well.
Can the property insurer invoke its other insurance clause?
No, they cannot deny or reduce payment for this reason because the
Transurance policy does not pay for any loss that is paid by the Indexed
Policy and only applies after the indexed insurance company has made
its payment. Furthermore, it is clear that Transurance is purchased to
supplement, not duplicate, losses paid by the indexed policy.
Does Transurance have the same tax and accounting treatment as
traditional insurance?
Yes. Transurance is insurance, and premiums are expensed ratably over
the coverage period. Loss payments are taxed and accounted for as
income which are offset by the expenses incurred for collateral damages.
To receive a Transurance payment, one merely has to show that they
received a payment from the indexed insurance policy that is referenced
by Transurance.
When does the policy pay?
The Transurance policy pays after the indexed insurance policy pays. If
partial payments are made, the Transurance policy will make partial
payments as well.
Can the property insurer invoke its other insurance clause?
No, they cannot deny or reduce payment for this reason because the
Transurance policy does not pay for any loss that is paid by the Indexed
Policy and only applies after the indexed insurance company has made
its payment. Furthermore, it is clear that Transurance is purchased to
supplement, not duplicate, losses paid by the indexed policy.
Does Transurance have the same tax and accounting treatment as
traditional insurance?
Yes. Transurance is insurance, and premiums are expensed ratably over
the coverage period. Loss payments are taxed and accounted for as
income which are offset by the expenses incurred for collateral damages.
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| Traditional insurance is good, but it is never enough. (U.S. Patent Application #10/647,078) Copyright © 2010, Transurance Services, LLC. Terms of Use. |