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Founders Professional

Insurance, United States, Florida, Winter Park

Specializing in insurance solutions for small businesses, startups, and entrepreneurs with personalized service and expert advice.

About Founders Professional

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Florida state
Official Website
http://www.founderspro.com
Location Address Official Phone Email
United States of America, Florida state United States, Florida, Winter Park **** ****
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FAQs – Founders Professional

What is a no-claim bonus (NCB)?

NCB is a reward for not making claims during a policy year, typically offered as a discount on renewal premiums or an increased sum insured. It is common in health and motor insurance policies and helps reduce future costs.


How does moral hazard apply to auto insurance?

Drivers with full coverage may drive more recklessly, knowing that damages or accidents will be covered, which increases the likelihood of claims and insurance costs.


What happens if I don’t have liability insurance?

Without liability insurance, individuals and businesses risk significant financial losses if sued for damages. Legal fees, medical expenses, and compensation costs can be overwhelming. In some cases, not having insurance can lead to fines, penalties, or inability to secure contracts with clients or landlords.


Is whole life insurance good for retirement planning?

Whole life insurance can be a supplemental tool for retirement planning due to its cash value accumulation. However, it should not replace traditional retirement accounts like 401(k)s or IRAs.


What is usage-based insurance (UBI)?

UBI is an insurance model where policy premiums are determined by real-time data, such as driving behavior or health metrics, collected through IoT and telematics devices.


What are some common misconceptions about captive insurance?

One common misconception is that captives are only for large corporations. In reality, businesses of all sizes can benefit. Another misconception is that captives are purely tax-driven entities, but their primary purpose is risk management and cost control. Additionally, some believe captives are overly complex, though they can be structured to suit various needs.


How do insurers use big data to detect fraud?

Big data helps insurers analyze claim histories, detect patterns of fraudulent behavior, cross-check information across databases, and identify high-risk individuals or fraudulent networks.


How much does cyber insurance cost?

Costs vary based on business size, industry risk, security measures, and coverage limits, typically ranging from $500 to $5,000 annually.


Comprehensive Market Research

Get in-depth market research for Insurance companies in United States, Florida, Winter Park. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.