Thank you for your many comments regarding our Insurance Score model.  After an extensive analysis, we have chosen to replace our current model using a new vendor.  The new model will take effect on September 1, 2013, for new business, and renewals which will undergo a re-scoring process.

It is our hope these changes will be seamless from your point of view, however, it is possible policy premiums may be impacted at renewal.  Base rate offsets will be made to mitigate some of the resulting disruption when implementing new Insurance Score ranges and factors.   Also, we will continue to have our Auto and Home Renewal Premium Caps to stabilize any renewal increases. 

Previously, the Michigan Declarations page included a single-digit letter code indicator for the Insurance Score band.  With this updated model, we have replaced this single-digit letter code with a 3-digit code.  Please reference the Agency Manual pages to cross reference the 3 digit code to the applicable Insurance Score Band.

You will be glad to hear the iBIS application and Quote Documents have also been updated to display the 3-digit insurance score code indicator.  Also, the Ohio Declarations page will indicate the discount amount for Home and the percent discount for auto.  We believe these changes will assist you and our customers. 

Statutory updates in Michigan required new rules to be reflected in the Agency Manual pages.  Based on these new rules and if requested, an Insurance Score must be provided only once every 12 months.   Additionally, a named insured may request a “reasonable exception” to the application of the Insurance Score premium adjustment if their credit information was directly influenced by a major life event.  The events which may be considered are listed in the Agency Manual, along with the rules requiring contacting the company for consideration.  Adequate documentation must be sent in a timely manner for review.

Agency Renewal Report will now be delivered at a later point in the month due to the timing of processes needed to comply with the re-scoring of renewals.  You will still receive the reports prior to renewals being generated.  The timing will be shortened by about 5-7 business days.  Also, Consumer Information Notices normally sent to the policyholders are revised to include the new vendor. 

We are encouraged the adoption of the new Insurance Score model will provide a solid foundation for you to submit and retain profitable personal lines business.  Please feel free to contact your Personal Lines Field Manager or Underwriter with any questions you may have.