Non-admitted insurer notice
Your coverage is placed with a non-admitted (a/k/a "surplus lines" or "non-licensed") insurer. Old Republic Union Insurance Company (NAIC #31143) is not licensed by your state insurance department and is therefore not subject to the same financial-solvency regulation as admitted carriers.
No state guaranty fund protection
Policies issued by non-admitted insurers are not protected by any state guaranty association or guaranty fund. If the insurer becomes insolvent or is unable to pay valid claims, you may not recover all or any portion of your claim, and there is no state-backed safety net to cover the loss.
Why surplus lines
Workspace liability for coworking and flexible-office tenants is a niche risk. Surplus lines markets specialize in coverages that admitted carriers don't routinely write at this scale or price point. Placement through the surplus lines market is the practical way to deliver instant, affordable coverage.
We disclose this trade-off up front so you can make an informed decision before binding.
How premium flows
- You pay Proximity Protect LLC for your policy.
- We remit the carrier-required portion through One80 Intermediaries, Inc. (d/b/a Access One80), a Colorado-licensed surplus lines broker.
- Access One80 pays the carrier (Old Republic Union Insurance Company) under our master policy.
- State-required surplus lines taxes and stamping fees, where applicable, are collected and remitted by the surplus lines broker.
Producer compensation
Proximity Protect LLC is compensated through commissions and service fees included in the price you pay. We do not charge separate broker fees beyond what is shown at checkout.
Questions
Contact info@proximityprotect.com or call 970-316-2723 before binding if anything in these disclosures is unclear. See also Licensing & Appointments and File a Complaint.