As you may know, our insurance carrier has been steadily raising rates on our insurance program over the past five years. While these rate increases have largely been justified by increased losses within the affiliate community, we have become concerned about the carrier’s eagerness to insure our program and their ability to evolve the program to meet the needs of Habitat’s expanding mission.
Earlier this year, Habitat authorized Lockton to conduct a comprehensive analysis of the insurance marketplace to explore potential alternatives for our insurance carrier. A Request for Proposal (RFP) was delivered to over twenty national insurance carriers that met our strict criteria for insuring the affiliate program.
At the conclusion of this process, ACE — one of the leading global insurance providers — was selected as the best fit for our program. ACE is of equal financial caliber to the current carrier, and has demonstrated a much stronger appetite for our business. They will offer competitive rates and coverage enhancements to the program. The change will be effective beginning April 1, 2013.
We will post new claim reporting information to this website on or before April 1, 2013.
If you have any questions about this information please contact your account manager at 888.553.9002 or by email.