here is a blurb from their website (and yes, the SEC and various other agencies are after them fro fraud and shit)
they have been issuing worthless bonds in conjunction with cash outs of life insurance policies?
However, I do wish Brother Greengo would weigh in with his observations of Life Expectancies, Tico Mores and the irony of betting/hedging (and essentially guaranteeing) on an individuals time of death.....
http://www.providentinsurances.com/Introduction
PROVIDENT CAPITAL INDEMNITY, LTD., internationally known as PCI, is an insurance and reinsurance company, registered since 1991 in the Commonwealth of Dominica. Its MGA (Management General Agency) is located in Costa Rica, under the administrative responsibility of Dessarrollos Comerciales Ronim, S.A..
PCI does not do any type of insurance business in Costa Rica. The MGA only deals with various administrative issues related to PCI business activities around the world.
PCI has been underwriting a profitable book of business of both insurance and reinsurance for over 19 successful years on a global basis. PCI conducts business in over 48 countries and in 17 currencies.
As a private fully recognized insurance company PCI has chosen to use the rating services of Dunn and Bradstreet Internationally. PCIs strict underwriting guidelines is responsible for maintaining the highest rating attainable (5A) from D&B indicating successful customer satisfaction and the ability to maintain one of the insurance industry lowest loss ratios.
PCIs principal business is in the non-marine areas are fire and allied perils, contractors all risks, engineering all risks, public and product liability and facultative reinsurance. PCI is one of only a handful of insurance companies still writing custom manuscripted Financial Guarantees Bonds to the financial industry, an industry where many other insurance companies have previously offered this type of coverage have closed their doors or simply stopped writing this specific coverage due to extreme losses.
PCIs aviation business consists mainly of fleets of private and corporate aircraft, flying clubs as well as small shares of commercial carriers. PCIs marine business is represented by hulls, machinery, cargo and limited P & I risks from most areas of the world.
PCI also provides support to the entertainment and film industry writing a niche market of business including Short Fall Financial Guarantees, Completion Bonds, All Risk Production Coverage, Investors Financial Guarantees, Contingency, No-Show, Adverse Weather and our new coverage, Adverse Entertainment Risk.
PCIs approach to underwriting has not changed and PCI always provides a personal input to all requests made. PCIs entire office and staff is geared to providing a full professional service. Should you have any inquiry that requires immediate attention, please contact PCI underwriting department directly. PCI has always taken great pride in its underwriting response turnaround time. PCI is always flexible and responsive to the clients and market needs. Brokers and intermediaries are invited and always fully protected.
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