UmialikXpress

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Agency Bulletin

July 22, 2024

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Umialik Insurance Home Rating Reductions

We have heard from some of our agency partners that rates for Loss Assessment Coverage, Earthquake Coverage, and Partially Protected homes (those less than five miles from a fire department but more than 1,000 feet from a hydrant) have been high in our Signature Home and Select Home products. A recent review of our rating program for these products indicated opportunity to reduce the pricing in these areas.

• Effective August 1 for new business and August 7 for renewals, you will notice a reduction in rates for partially protected homes.
• Pricing reductions for Loss Assessment Coverage and Earthquake Coverage with a 20% deductible were implemented earlier this month.

While adjustments based on feedback are not always feasible, we are pleased to be able to make these changes. Thank you for your feedback and partnership!