TINTON FALLS, NJ, September 11, 2018–World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, NJ, was recently appointed as the exclusive United States insurance provider for the Pensio Rental Income Program.
The Pensio Rental Income Program provides lenders and real estate developers with certainty that a completed unit can be sold or can earn a certain income. With the five-year Rental Income Contract Bond, it safeguards investment returns by covering tenant default. The Rental Income Contract Bond is provided by Pensio as principal to purchasers, and is underwritten by a protected cell captive insurer, 100% reinsured by reinsurers with AM Best “A” Excellent ratings that specialize in reinsuring commercial, and contract surety. The Pensio Rental Income Program has significant benefits for lenders, developers, owners, and buyers.
Frank Costa CIC, CRM, Principal and Chief Operating Officer at World Insurance Associates LLC, stated “We recognized a huge opportunity to bring a rental income protection program to the United States. While this program is common in other highly developed European and Pan-Pacific markets, it is nearly non-existent in the United States, where the estimated total annual rent paid is in excess of $665 billion.”
“We are excited to enter the U.S. market and provide residential rental property owners, developers, lenders, and buyers with the coverage they need,” said Nina Fabbri, CEO of Pensio U.S.
World Insurance Associates LLC is an independent insurance agency headquartered in Tinton Falls, NJ. It offers extensive, cost-effective personal and business insurance solutions in 46 states. The company specializes in transportation, hospitality, self-storage facilities, construction (surety), manufactures, and law firms. World Insurance Associates also provides group benefits and property and casualty insurance to companies of all sizes in a variety of industries in addition to insurance services for individuals, focusing on coastal properties and high net worth clients. World Insurance Associates began business in 2012, has completed 31 acquisitions, and serves its customers from 20 offices in NJ, PA, NY, CT, RI, ME, OH, FL, and Washington DC. The company is ranked #20 on the list of New Jersey’s 2017 50 Fastest Growing Companies, #6 in New Jersey’s Top Insurance Brokerages, and has been named to the 2018 Inc.5000 list.
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If you would like more information about this topic, please contact Frank Costa at 732-876-3953 or email frankcosta@worldins.net.