Wallace Welch & Willingham (W3) Insurance is a Florida-based, independent insurance agency, founded in 1925, providing comprehensive commercial and personal insurance, employee benefits, and risk management solutions. Specializing in the Tampa Bay area, W3 offers products including auto, home, life, and specialized business insurance to protect against various liabilities.
Warranty & Indemnity (W&I) Insurance is an insurance product designed to protect parties in an M&A transaction from financial loss arising from breaches of warranties and certain indemnities given by a seller to a buyer under a sale and purchase agreement (SPA).
Third-party car insurance is one of the most common and affordable options, yet it often provides only the bare minimum. This type of policy typically protects other people and their property if you're at fault in an accident. However, it doesn't cover damage to your own vehicle or your medical costs.
Manulife Financial is the largest insurance provider in Canada and offers a broad range of financial services. Great-West Lifeco, the third-largest insurer, operates as a holding company for six subsidiaries.
Third party insurance typically covers:
Damage to someone else's car in a road accident. Damage to another person's property – for example, if you crash your car into a neighbour's wall. Injury to a passenger or driver of another car. Injury to a passenger in your car.
Driving other cars cover is usually only available on a comprehensive car insurance policy, so if you have third party (or third party, fire & theft) cover, you won't have insurance to drive other cars. It's not automatically included on every comprehensive policy – so check first.
In almost all cases, however, W&I insurance is taken out by the buyer. The process of negotiating and concluding a W&I insurance policy is carried out between the buyer and the insurer and usually begins during the negotiation phase of the transaction between the buyer and the seller.
The cost of W&I insurance
Premiums tend to range from 1-2% of the insured amount for transactions ranging from A$10 million dollars to in excess of A$1 billion. Typically, a purchaser will pay the costs associated with obtaining W&I cover. This includes the costs of the underwriter's lawyers and the W&I premium.
Yes, a main advantage of W&l insurance is that it can extend the warranty coverage period past the limitations set in the SPA. This may provide additional comfort to a buyer that is unable to negotiate a longer period of warranty coverage against the seller.
Avoid insurance that duplicates existing coverage, offers minimal benefits, or is structured with poor value. Focus on essential protection—like auto liability, health, home/renter, life for dependents, and disability coverage—tailored to your actual risks.
The Big 3 insurance plan covers the top 3 common critical illness groups, including cancer, heart disease, and brain and neurological system diseases, according to the list of diseases in the benefits document.
Insurance companies use credit-based insurance scores to help predict the likelihood of a customer filing a claim. Studies have shown a strong correlation between credit history and risk, which is why many insurers include this factor when setting rates. It's just one of several elements used to determine your premium.
"100k/300k/100k" refers to standard split limits for auto liability insurance: $100,000 for bodily injury per person, $300,000 for bodily injury per accident, and $100,000 for property damage per accident, representing the maximum your insurer pays for damages you cause in an at-fault accident. This coverage protects your assets, with higher limits offering better financial security against costly claims.
There are many types of insurance available, but there are some which top the charts in terms of importance. Home or property insurance, life insurance, disability insurance, health insurance, and automobile insurance are five types that everyone should have.
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