The Grand Rapids, Mich.-based Foremost Insurance Group of companies is modifying underwriting guidelines for current mobile home and non-standard homeowner customers who are being militarily deployed and are leaving an unoccupied home behind.
Effective immediately, Foremost mobile home and non-standard homeowner policies whose owners are deployed and leaving a home unoccupied, will not have their policies re-rated or have their premium changed. The home will continue to be insured according to the original planned use of the home.
“What this boils down to is cost savings for our customers who are serving,” says John Johnson, Senior Vice President, Foremost Insurance Company. “In some cases when a home is vacant it’s considered uninsurable. In other cases, this translates into higher rates and a lesser settlement in the event of a claim. We want to give those serving our country the peace-of- mind that their investment is insured without the threat of no insurance, or the possibility of an increased premium or a diminished claim payment, even when they have to leave for a period of time,” says Johnson.
A notation will also be made on these policies so that if a claim occurs while the home is unoccupied, the payment to the customer will not be decreased due to the status of the home. In some policies, standard underwriting guidelines call for significant decreases in payments after a claim occurs if the home is rated as vacant.
InsureVianet Exec Liability Now Available in 38 States
InsureVianet has expanded the number of states for its online Executive Liability Suite by 16 additional states and the District of Columbia, bringing to 38 the total number of states in which the company offers its online small business Employment Practices Liability program. Combined, these 38 states represent approximately 65 percent of all small businesses in the U.S.
InsureVianet’s XML-compliant EPL program — which offers Employment Practices Liability insurance to businesses with 100 or fewer employees — gives commercial agents the capability to quickly and easily enter underwriting data, receive real-time proposals, initiate purchases, obtain policies and service the company’s specialty product suite.
A unique value-added feature of the comprehensive EPL package is InsureVianet’s partnership with Bashen Consulting. Through that partnership, policyholders receive expert consultation for meeting state and federal employment compliance regulations, state-specific human resources policy manuals, access to a confidential complaint handling process, incident response services, expert claim investigation services, and more.
In addition to the District of Columbia, InsureVianet — a division of Chicago-based e-broker Insurance Noodle, is now available in Arizona, Arkansas, Colorado, Georgia, Idaho, Kansas, Mississippi, Missouri, Montana, Nevada, New Mexico, North Dakota, Oklahoma, South Dakota, Utah, and West Virginia. Other states in which the company’s program is offered are Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.
Topics Homeowners
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