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2020 NICUMC Property & Casualty Insurance Allocation

Posted: December 2 2019 at 12:00 AM
  • All churches enrolled in the NICUMC insurance program prior to January 1, 2019, will be assessed a 5% increase in total premium.
  • Replacement Value Appraisal ~ Replacement Value Appraisals performed in 2018, resulting in increased property valuation will be assessed an additional 3% on the “Property” line of coverage only. Note, the Commercial Building Valuation Report indicating the replacement valuation was mailed to the attention of the church Pastor in October 2019.
  • Property Loss Assessment ~ 2019 Property claims resulting in payment and/or anticipated payment in excess of $2,500, an additional 3% will be assessed on “Property” line of coverage.  Note, should a Replacement Value Appraisal of 3% be assessed, the Property loss assessment is waived.
  • Workers’ Compensation/General Liability/Auto Loss Assessment ~ 2019 Workers’ Compensation/General Liability/Auto claims resulting in payment and/or anticipated payment in excess of $2,500, an additional 3% will be assessed on the respective line of coverage.  Note, should a Replacement Value Appraisal of 3% be assessed, the Workers’ Compensation/General Liability/Auto loss assessment is waived.
  • Newly Enrolled Churches ~ Churches that enrolled in the NICUMC insurance program in 2019, the insurance premiums remain flat for the 2020 policy year. However, should a loss occurred (e.g. Property, Workers’ Compensation, General Liability, Auto), resulting in payment in excess of $2,500, the 3% assessment is applied as stated above.

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