In 2018, CEA filed a rate change that was approved and went into effect beginning July 1, 2019. This means that new and renewing CEA earthquake insurance policies include some important changes.
While the large majority of our policyholders will see a decrease in their premiums, 15% will see an increase of more than 10% to their CEA earthquake insurance premium.
To help your clients understand why this rate change had to occur, CEA has created a Premium Changes page that explains:
- How CEA was created and what our organization is all about,
- What CEA’s rate changes look like for our policyholders,
- Why some policyholders are experiencing a premium increase, and
- What policyholders can do to reduce their premiums.
You may want to visit this page as well, so you can better prepare for any questions you may get from your insureds. Additional information, specifically for agents, is available on our Rate & Form Filing 2019 page, in the Agent Portal.
Because these changes may necessitate policy reviews for a few of your insureds, now is the ideal time to take our revised agent training, if you haven’t done so already. Our free comprehensive agent training has been recently updated to include the latest policy changes, and will give you the information you need to help your clients find the policy that best fits their needs. And remember: If it’s been two years since your last training, completing our free agent training now will make you eligible for two CE credits, and give you access to our Marketing Value Program.
As always, if you have any questions, please don’t hesitate to contact us.