SOUTHFIELD, Mich., April 3, 2020 /PRNewswire/ -- AmeriTrust Group announced several actions being taken in response to the COVID-19 pandemic.
Guaranteed Policy Renewals:
On Friday, March 20, 2020, AmeriTrust informed its contracted retail insurance agencies that AmeriTrust's admitted insurance carriers will guarantee renewal of all general business policies* for the next 90 days. Today, AmeriTrust is extending these guaranteed renewals to include policies renewing on July 1, 2020.
Kenn R. Allen, AmeriTrust President and CEO, commented, "We realized the amount of stress and pressure on each of our agency partners during this national crisis. It is our intention to extend peace of mind by providing our policyholders and clients with guaranteed renewals by AmeriTrust's admitted carriers."
Renewals will not be re-underwritten in most circumstances. Depending on line of business, policies will be renewed as is and may receive a nominal premium increase between 0 – 5%. As always, specific renewal guidance, such as policy endorsements and other changes, will be handled on a case-by-case basis.
The guaranteed admitted lines renewals do not apply to program business, trucking business, or excess workers' compensation business.
Payment Extension for Direct Bill Customers:
AmeriTrust also informed their retail agents that the Company's admitted insurance carrier subsidiaries are temporarily suspending non-payment cancellations for the company's direct-bill clients, providing additional time to make their scheduled insurance payments.
Complying with Individual State Regulatory Guidance:
Kenn Allen further stated, "Since proactively taking these actions two weeks ago, many individual states have mandated or suggested similar accommodations. It is our intent to further comply with all regulatory guidance around COVID-19 and work with our agents and policyholders to make reasonable accommodations related to their insurance policies."
Employees Working Remotely, Still Servicing Clients:
AmeriTrust has initiated the process of having the organization's employees working remotely.
Allen additionally commented, "Under normal circumstances, AmeriTrust has a number of our employees working remotely. As we have escalated the number of staff working remotely, our professionals have the technology and acumen to continue to process and service business at a high level."
Contact information for AmeriTrust carrier representatives remain unchanged.
Please direct any inquiries or issues to the AmeriTrust Service Center:
Phone: (800) 825-9489
Email: [email protected].com
*AmeriTrust carriers reserve the right to cancel or non-renew any policy for fraud or material misrepresentation, as allowed by applicable law. AmeriTrust carriers reserve the right to cancel or non-renew any policy upon discovery of a material change in risk, as allowed by applicable law.
About AmeriTrust Group, Inc.
Founded in 1955, AmeriTrust Group, Inc. is a nationally recognized commercial insurance underwriter and insurance administration services provider in the commercial property and casualty insurance industry. AmeriTrust is comprised of four distribution segments of the insurance marketplace: admitted carrier operations, excess & surplus lines carrier operations, wholesale MGU/MGA and third-party administration operations, and retail insurance agency operations. AmeriTrust offers a broad range of insurance solutions, including specialty products to independent agencies, governmental entities, select industry, trade and professional associations, and affinity partners. Carrier operations include five insurance companies which are licensed on both an admitted and non-admitted basis. For more detail, visit www.ameritrustgroup.com.
SOURCE AmeriTrust Group, Inc.