American Lease Insurance Agency Corporation (ALI) is introducing Equipment Insurance Direct (EID), an online insurance resource for small-business equipment lessees throughout the United States. Through EID, lessees can easily obtain property and liability insurance required on their leased equipment at affordable monthly charges from A+ underwriter AGCS Marine Insurance Company.
Equipment lease originators and lessors who contract with ALI as EID associates receive fees for providing periodic customer data to ALI to use in marketing EID coverage directly via email and the EID website. For each provided customer who obtains EID coverage, the associate receives an advance fee and additional monthly fees for the term of that coverage, at no additional cost to customers. ALI handles all marketing, soliciting, billing, collections and claims. “It’s a formula that works for all involved,” notes ALI President Steve Dinkelaker, “associates enjoy significant new revenue, we are connected to lessees in need of insurance, and they benefit from easy access to comprehensive, affordable coverage.”
EID provides replacement cost coverage that is more comprehensive than the coverage available through most commercial insurance policies, underwritten by AGCS Marine Insurance Company, an Allianz Group Company (Rated "A+" XV {Superior} by A.M. Best Company). With financing provided by FIRST Insurance Funding Corp., one of the largest premium finance companies in North America, the cost of EID coverage is usually lower than coverage arranged locally or through any other available lessee insurance program, billed monthly, and fixed for the term of the lease agreement. ALI is licensed to offer EID to lessees in all 51 U.S. jurisdictions; ACGS has filed the insurance offering in all jurisdictions as well.
Through its automated American Lease Insurance Program, ALI also provides comprehensive portfolio protection, including insurance on leased and financed equipment and tracking of alternate coverage, to major equipment leasing and financing companies. Founded in 2000 by licensed insurance producer Steve Dinkelaker, ALI is headquartered in Sunderland, Massachusetts, and is an active member of NEFA, NAELB and ELFA.