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Less than a decade ago, if a highly compensated professional realized their standard group disability insurance coverage would not be enough for their family to live on if anything should happen—well, there was absolutely nothing they could do about it.
Collaborating with Actuaries and Claims experts, The Westport Group developed a mathematical model, based on a study by the Worcester Polytechnic Institute (WPI), that researched the experiences of highly compensated professionals who had filed disability insurance claims. Through that study, we learned that many professionals were being significantly over-charged for their insurance needs. As a result of that study, The Westport Group—with its Lloyd’s of London product, the Executive Income Assurance Plan® (EIAP®)—became the first insurer in the United States to offer a 10-year, monthly benefit with an optional lump-sum disability feature… the longest monthly benefit period Lloyd’s of London had ever written at that time.
The Westport Group continues to be the only firm in the United States that designs, innovates, and manufactures products exclusively for the high-limit, multi-life disability marketplace.
Moreover, The Westport Group is the only firm in the United States that collaborates directly with its customers (as opposed to third-party, solely commission-based wholesalers) to create custom-designed, client-centric insurance solutions.
It means that we understand. The Westport Group is in a unique position to listen and respond directly to the needs of our customers.
It means that we are agile. We have the ability to elegantly design innovative products to meet your firm’s changing needs and those of the insurance marketplace.
It means that we work for you. Working directly for our customers gives us valuable first-hand experience for product development and underwriting concessions.