ADOPTION CANCELLATION INSURANCE
- This service is no longer being offered -
Minimizing Adoption Risks
THE INSURANCE POLICY
The insurance policy covers adoptive parents for what they have paid to or for their birthmother in the event that she or the birthfather change their minds and withdraw their consent to the adoption. There is limited coverage (10% of the policy limit) for the insureds' own expenses for a home study or travel. There is optional coverage for stillbirth or miscarriage and for Legal expenses (Legal coverage not available in NY).
The policy is issued for $5,000; $10,000; $15,000; $20,000; or $30,000 Limits with premiums of $750, $1,150, $1,475, $1,750, and $1,900 respectively.
The policy covers only expenses incurred by the birthmother after it has been issued. There is a deductible of $1,000 per claim.
The policy is only available to the clients of attorneys or agencies who have submitted their qualifications to and have been approved by the Underwriters.
KEMPER INSURANCE COMPANY
Kemper Insurance Company of Long Grove, Illinois has become the underwriter of the program as of April 15,1997. Kemper carries an A rating from Best's Key Rating Guide.
Claims will be handled by Kemper's regional claims office in Roseville, CA (800 822-8426).
THE INSURANCE PROGRAM
Adoption Cancellation Insurance has been available in California since 1990 and in the entire US since 1994. The principle of the Program is to underwrite qualified Adoption Professional and make the policy available only to their clients.
FUTURE OPPORTUNITIES
The program can include almost any Adoption-related exposure as long as credible statistics can be collected to predict the size and frequency of future losses. Foreign Adoption coverage is a likely next step.
Please call or email to Mindy Charbonneau with your questions or for an application:MBO Insurance Brokers
855 Oak Grove Ave
Menlo Park, CA
(800) 833-7337
Email: fahti@ibm.net
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