Salt Lake City, Utah – -(AmmoLand.com)- XINSURANCE, powered by Evolution Insurance Brokers, LLC, is pleased to announce its specialized insurance program for the firearm industry, providing gun stores, gunsmith shops, dealers, manufacturers, and wholesalers with liability protection to respond to the various exposures operations face.
The program is backed by the financial strength and stability of Prime Insurance Company, rated “A” (Excellent) by credit rating agency AM Best, and known throughout its 40-year history for underwriting hard-to-place risks.
“We’ve been recognized for our innovative approach in creating insurance solutions for specialty risks and industries that find it challenging to find coverage to protect their assets against potential lawsuits,” says Rick J. Lindsey, Chairman, and CEO, Prime Insurance. “We are able to offer custom solutions to the firearm industry with XINSURANCE because of the depth and breadth of our experience in evaluating the unique underwriting characteristics that make a risk difficult to place and adapting to its specific needs and concerns, our strong risk management strategies, and a dedicated claims management and advocacy approach.”
XINSURANCE’s all-in-one approach provides gun shops, dealers, manufacturers, and wholesalers with customized coverage, limits, deductibles, and premiums to create a Liability insurance program that addresses and responds to a client’s specific operation and risk profile. We understand that each firearm business is different in size, activities, ownership, location, and more, and requires insurance that takes these factors into consideration.
Whether you are a large manufacturer or a smaller enterprise or the local gun shop owner, XINSURANCE can protect you in the event of third-party lawsuits related to negligent bodily injury or property damage on your business premises.
Coverage is also available if a gun malfunctions and causes injury to a user or a bystander, or you are sued for allegedly failing to appropriately communicate instructions and safety concerns. Claims for product-related damages are usually related to manufacturing or production flaws, design defects, or defective warnings or instructions. If you are negligent – and even if you are not – you can be sued and required to pay for medical costs, compensatory damages, attorney fees, court costs, and more. The program will pay for the expense of posting bail bonds to stay out of prison as a case unfolds (as long as you purchase Legal Liability coverage), defense costs, and liability settlements or judgments, up to the policy limits.
In addition to providing customized coverage to the firearm industry, what distinguishes the XINSURANCE program is Prime Insurance’s robust team of in-house claims adjusters and managers and attorneys available to policyholders in the event of an accident or injury. The team will work with you to strategically go through the entire process, investigate claims properly, and fight frivolous or meritless litigation.
For more information about XINSURANCE’s Liability Insurance Program for the firearm industry, and to obtain a no-obligation quick price quote, please visit www.xinsurance.com .