Business ProfileforBeach & O'Neill Insurance Assoc., Inc.

Our Insurance Agent (*********************, of ******************************** Insurance Associates/********) failed to meet his fiduciary responsibilities, which resulted in double coverage and a loss to our company of $5,246.96. THE HISTORY: We used this insurance Agent to secure a commercial insurance coverage for an apartment building (herein referred to as policy A) and when it approached renewal time we started pushing the Agent to secure us a new policy. For 60 days prior to the expiration of the (policy A) we continuously followed up with the Agent ********************* via email and phone. He assured us that he would get us a policy to replace the (policy A) because the carrier for (policy A) pulled out of the market. As we approached the expiration date it was clear ********************* did not obtain a policy for us, however he continued to assure us that he had our requirements handled. A few days prior to the expiration of (policy A) ***** proposed a month to month policy to us, which was more expensive, but would serve as a temporary solution (herein referred to as (policy B).It is our opinion based on the facts and communication between all parties, the Agent and his Management Team had no idea that this month to month (policy B) was retroactive in nature and IF we bound coverage on the 28th of October the carrier would charge us for the entire month of October. IF THE BROKER KNEW THIS they would have bound coverage on November 1st. IF WE KNEW THIS, we would have bound coverage on Nov 1st. We already had insurance for the month of October and as result of this broker binding coverage on (policy B) we were double insured for the month of October at an expense/loss of $5,246.96.The Agent and his Management Team were either grossly negligent, intentionally attempting to boost their commissions, or made an error which resulted in a net loss to our company of $5,246.96. We have attempted to resolve this matter directly and we have not made any progress for a meaningful resolution.