UM insurance soon available
At its recent board meeting in Bennington, VT, the United Methodist Insurance Company (IMI) announced that it will begin issuing policies in its own name on Oct. 1, 2012. The insurance risk for these policies will be fully reinsured through insurance carriers, most of whom have been issuing policies for the program for the past two years. All carriers will be "A rated."
This will enable UMI to offer a more price-competitive product and to quickly adjust its offering as necessary in order to better serve the needs of United Methodist instiutions.
After the meeting, the Rev. Patricia Youngquist, UMI's newly-elected CEO said, "We are excited about the opportunity that o9ur new organization offers to better protect United Methodist churches at a time when so many are struggling."
The Rev. Youngquist also recognized Irene Howard, UMI's outgoing CEO, thanking her for her vision and persistence in helping to establish an insurance provider that exclusively serves The United Methodist church.
United Methodist Insurance Company is a captive insurance company wholly owned by the General Council on Finance and Administration.