We are often asked, is eSign  legal?

In a word, yes.  And eSign.insure is compliant with all federal laws under the US ESIGN Act.

  • Esignature Background Data:
    “In 2020, the global digital signature market size reached $2.8 billion. It is projected to grow to $14.1 billion by 2026.” (MarketsandMarkets, 2020)

    “55%–78.62% – total savings of businesses migrating to e-signature apps from paper, taking into account material, administration, shipping, and subscription costs.” (LunarPen, 2020)

    80% – average reductions in turnaround time using e-signature. (LunarPen, 2020)

  • What is an “Electronic Signature”?
    An electronic signature (e-signature) is a digital, process-driven indication of the intent to accept or acceptance of an agreement. Esign Insure uses a highly secure type of electronic signature called a “Certificate-Based Digital Signature”.

  • Is there a legal basis for Electronic Signatures?
    Yes.
    In 2000, the US government implemented the Electronic Signatures in Global and National Commerce Act (ESIGN) Act. This made e-signatures at par legally with handwritten ones. (FDIC)
    U.S. Signatures in Global and National Commerce Act

    Most countries around the world adopted the Uniform Electronic Transactions Act (UETA) to govern and secure their use of electronic signatures. (Baker McKenzie)
    Uniform Electronic Transactions Act

    Under the ESIGN Act, an agreement, “may not be denied legal effect, validity, or enforceability solely because an electronic signature or electronic record was used in its formation” 15 U.S.C.A §7001(a)(2). And under section 7(d) of UETA, if a law requires a signature, an electronic signature satisfies the law.

  • What is a “Certificate-Based Digital Signature”?
    Although often referred to simply as an “e-signature” or “digital signature” a “Certificate-Based Digital Signature” is a specific type of electronic signature that is generated with a digital certificate provided by a trusted third party called a Certificate Authority (CA) after a thorough verification process.

  • Digital Signatures serve 3 purposes
    Authentication: A digital signature gives the receiver confirmation that the message was created and sent by the sender as claimed.

    Non-repudiation: With a digital signature, the sender cannot later deny having sent the message/agreement/contract and the signatory cannot deny having signed it.

    Integrity: A digital signature ensures that the message was not altered in transit.

  • What is a Digital Certificate?
    Digital Certificates are electronic credentials issued by a trusted third party. They not only verify the identity of the owner, but also that the owner owns the Encryption Key. The Certificate, which is passed automatically with the document, provides a programmatical assurance that both document and signature are authentic and unaltered.

  • Esign Insure Certificate Data:
    Esign Insure uses a Digital Certificate issued by Entrust.

    Certificate Key Size: 2048

    Key Type: RSA

    Signing Algorithm: SHA2

  • Is this “Legal Advice”?
    No.
    Esign Insure and its providers do not offer legal advice.
    You should neither take nor refrain from taking any action predicated on the information contained on this page. These facts, while true, are published with the sole intent that our customers and prospective customers may better understand the laws, advantages, security, and technology that are the foundation of our service.