By using this website, you are deemed to have read and agreed to the following Terms and Conditions (“Terms”):

Definitions

“Client”, “You” and “Your” refers to you, the website user that is accessing the website’s content and accepting these terms and conditions.  “The Company”, “Ourselves”, “Our”, “We” and “Us” refers to Founder Shield.  “Party”, “Parties”, or “Us”, refers to both the You and Ourselves, or either You or Ourselves.  “Information” includes any and all information present on or accessed through Our website, including all ancillary documents and whitepapers, generated by Us.

Consent to Electronic Delivery

At Founder Shield, we do things a little differently than a traditional insurance brokerage.  We pride ourselves on being completely digital in an effort to save our clients time and effort and help the environment while we’re at it.  As such, in using the Our services to obtain insurance company for Your company, You consent to the electronic delivery of all documents related to obtaining and servicing your insurance policy(ies).

Disclosures

As an independent insurance broker, We may have access to more than one insurance company to place your coverage.  We may have the authority to obligate the insurance company on your behalf, and accordingly, We may receive compensation as a result of performing our duties.

Non-Admitted / Surplus Lines Insurance

When quoting policies, We sometimes present quotes that come from insurers that are not licensed by the state in which your company resides.  These are called “Non-Admitted” or “Surplus Lines” insurers.  Here is what you need to know about non-admitted insurers before moving forward with purchasing insurance:

  • The insurer is not subject to the financial solvency regulation and enforcement that apply to state licensed insurers.
  • Policies from non-admitted insurers will have additional taxes and fees imposed by state insurance regulation.  These taxes and fees vary by state and will be clearly marked on the proposal.
  • The insurer does not participate in any insurance guarantee funds created by state law.  Guarantee funds are set up to pay insureds claims when an insurer is insolvent, so non-admitted insurers do not have the backing of these guarantee funds so the insurer become unable to compensate you for the claim.
  • The insurer should be licensed either as a foreign insurer in another state in the United States or as a non-United States “Alien” insurer.  You should ask Us about the insurer’s status: ask us whether or not the insurer is licensed as a foreign or alien insurer and for any additional information you wish.  We will be happy to assist with any questions about the status of the insurer.  You may also visit the National Association of Insurance Commissioner’s website at www.NAIC.org for more information on the insurer.
    • Foreign insurers should be licensed by a state in the United States and you may contact that state’s department of insurance to obtain more information about that insurer.
    • Non-United States (Alien) insurers should be licensed by a country outside of the united states and should be on the NAIC’s international insurers department listing of approve nonadmitted non-United States insurers.  Please ask us to assist with obtaining more information about the insurer.
  • Many states (including California) maintain a list of approved surplus line insurers.  As Us if the quoted surplus line insurer is on that list or for a link to view your state-specific list of approved surplus line insurers.

By accepting a proposal which contains quotes from non admitted insurers, you acknowledge that you understand that your insurance has been placed with non-admitted insurers pursuant to state law.

Commission

As the purchaser you need to understand that We typically will receive commission from the insurer based on the agreement We have with the company.  That commission may vary from the company to company but generally will be calculated as a percentage of the underlying premium of the policy, typically ranging from ten to twenty percent.  If you would like to know the compensation We will earn by placing your policy or policies, we will provide that number or an estimate whenever reasonably possible.

We may also be entitled to contingent commissions from certain carriers with which we do business.  These commissions are paid in addition to commission earned on individual policies and are based on our overall performance with the carrier.  Factors that affect contingent commissions paid to Us may include business volume, profitability, new business generated, existing business retained, or loss experience of the business placed with the insurer by Us.

Fees

In accordance with any applicable state laws, we may charge an additional fee when placing a policy on your behalf.  This fee is our “Administrative Fee” and will be clearly marked on any pricing table in any proposal we may send for your review.  This fee is used to fund the ongoing servicing of your account and to continue to build new technology products and risk management services for which you are eligible as a client of Founder Shield.

Renewals

The compensation structure described above applies to all renewal policies as well.

If the foregoing information is unclear or unsatisfactory in any way, you as a client are entitled to ask Us for more information regarding our compensation or our relationships with insurers, and we will happily oblige.  You may also request copies of alternative quotes (if any) as well as the compensation We would have received from those insurers.

Disclaimer

The information and descriptions contained within this website are not intended to be complete descriptions of all products and services provided by us, but are provided “as-is” for general informational purposes.  We work hard to bring You accurate, relevant, and current Information about our products and services, but there may be an error or omission despite Our best efforts to ensure accuracy.  Information will periodically be updated and revised, and We reserve the right to do so free of any obligation to notify current and/or prospective clients.

Furthermore, the Information on this website may not be applicable under the laws of all states.  You understand that by accessing this website, You do so on your own initiative and accept responsibility for for any misuse or misapplication of the Information provided herein.

 

Limitation of Liability

THE INFORMATION PROVIDED ON THIS WEBSITE IS PROVIDED ON AN “AS-IS” BASIS.  TO THE FULLEST EXTENT PERMITTED BY LAW, FOUNDER SHIELD EXCLUDES ALL REPRESENTATIONS AND WARRANTIES RELATING TO THIS WEBSITE AND ITS CONTENTS AS WELL AS ALL LIABILITY FOR DAMAGES ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THIS WEBSITE.  FOUNDER SHIELD DOES NOT WARRANT OR MAKE ANY REPRESENTATION REGARDING THE COMPLETENESS, ACCURACY, RELIABILITY, USEFULNESS, OR TIMELINESS OF THE MATERIALS ON THE WEBSITE. FOUNDER SHIELD DOES NOT WARRANT OR MAKE ANY REPRESENTATION REGARDING THE USE OF OR THE RESULTS OF THE USE OF THE MATERIALS ON THIS WEBSITE. WE DO NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE MATERIALS WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS WEBSITE OR ITS SERVER ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU (AND NOT US) ASSUME THE ENTIRE COST OF ANY AND ALL DAMAGES ARISING OUT OF YOUR USE OR INABILITY TO USE THIS WEBSITE, INCLUDING ANY NECESSARY SERVICING, REPAIR, OR CORRECTION.

 

Intellectual Property

All Information and content on this site, including without limitation the site’s arrangement and layout, all trademarks, service marks, trade names, logos, informational content, and icons are proprietary to Founder Shield and are protected by copyright, trademark, and other proprietary rights laws.  Except as otherwise expressly permitted by Us, no materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. You may download material displayed on this website for Your use only provided You also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this website for public or commercial purposes without Our express written permission in each instance.

 

Privacy Policy

Our Privacy Policy, which can be found here, is hereby incorporated by reference into these Terms.

 

Links

You are permitted to engage in appropriate linking to Our website.  However, We do not endorse or accept responsibility for the content of any other website that links to Our website or to which We link.

 

Choice of Law

These Terms, the Privacy Policy and the relationship between You and Founder Shield are governed by and construed in accordance with the laws of New York, without regard to its principles of conflict of laws.  The Parties agree to submit to the personal and exclusive jurisdiction of the courts located in New York, New York and waive any jurisdictional, venue, or forum non conveniens objections to such courts.

 

Entire Agreement

These Terms, together with the Privacy Policy and any other legal notices published by Us on this site shall constitute the entire agreement between You and Founder Shield concerning this site. If any provision of these Terms is deemed invalid by a court of competent jurisdiction, the invalidity of such provision will not affect the validity of the remaining provisions of these Terms, which will remain in full force and effect. No waiver of any term of these Terms shall be deemed a further or continuing waiver of such term or any other term, and a party’s failure to assert any right or provision under these Terms shall not amount to a waiver of such right or provision.

 

 Contact

If you have any questions about these Terms, please do not hesitate to contact us at [email protected] or via mail at:

Foundershield LLC
228 Park Ave S #90348
New York, NY 10003-1502

Updated: 12/26/2016