UmialikXpress
Agency Bulletin
August 15, 2022
Umialik Personal Auto Rate Revision – Eff. 10-1-2022
The increase in prices for new vehicles, used vehicles, labor to repair vehicles, rental vehicles, and supply chain issues have been driving up loss costs industrywide. These market issues have resulted in a 20% increase in the average severity of personal auto claims for Umialik customers, and adjustment to our rates is a necessary part of addressing the impact of the increased costs.
Effective October 1, 2022, rates will increase just below 10% overall in our Penalty-Free auto product. The specific premium impact by policy will vary based on the specific characteristics of the insured exposure.
This change does not impact our new Select Auto and Signature Auto products.
We have made it easy for you to quote our new auto products for those customers. In AgentsOnline you can search and select the pre-filled quote draft for our new auto products. Click here to view a user guide for quoting your existing Penalty-Free auto customers.
Please contact your Personal Lines Underwriter or Regional Agency Manager with any questions.
Thank you for your continued partnership.
