The materials available on this website are for informational purposes only. The material is not for the purpose of providing legal advice. You should speak with a licensed Novum agent, other licensed insurance agent, or attorney, to obtain legal advice. Use and access to this website or any emails contained within the site, do not create a relationship between Novum Underwriting Partners LLC and the browsing user. Some of the opinions expressed on this site are the opinions of the authors, and may not reflect opinions of Novum Underwriting Partners LLC, or it's affiliates.
Individual coverage may vary and may not be available in all states. Claim examples used on this site may or may not be based on actual insurance claims, and are for the sole purpose of example only. Any coverage for a claim will be determined based on the circumstances of each event, and to the terms and conditions of the insurance policy.
Novum Underwriting Partners LLC (“Novum”) is a licensed insurance agency. Novum typically seeks to place coverage first with an insurer that it represents. Novum normally receives a standard commission for the sale and/or servicing of these policies. This is a fixed percentage of the policy premium or a fixed amount per policy, generally set prior to the effective date of the policy. The percentage can vary depending on the type of insurance product, whether the policy is new or a renewal, and other factors. In instances where Novum is paid directly by a client for insurance policies for payments to an insurer, Novum may receive interest accruing on these amounts. Novum may also charge interest on past-due amounts owed by clients. Additionally, some insurers may have incentive-based programs, or other compensation, where agencies are rewarded via benefits such as branded merchandise, marketing materials, entertainment, meals, and other benefits such as covering travel costs for trips, conventions and/or other events or expenses.