UMI 2018 Winter Meeting
Wednesday, March 7, 2018
United Methodist Insurance Winter Board Meeting Reports Results for 2017
Nashville, TN – The Board of Directors of United Methodist Insurance (UMI) held its winter meeting in Nashville, TN on February 27, 2018.
In a review of its performance in 2017, the board celebrated that UMI now insures more than 3,600 United Methodist churches and other properties. United Methodist Insurance reports that since 2014, 98% of churches insured with UMI have chosen to stay with them.
Churches that are covered by UMI have recently stated “UMI has been responsive to making changes to our policy as our circumstances have changed with regard to buildings built” and “knowing UMI’s association with the UMC gave us confidence that UMI’s product was suitable for our church”. The board discussed the ways that UMI is protecting UM properties and recognized that when churches switch to UMI, the Total Insured Value of their properties increase 17% on average. In addition, based on a recent survey, it was recognized that only 3.1% of churches carry the recommended levels of Employers’ Liability/Workers’ Compensation coverage. UMI is able to provide United Methodist churches and buildings the Book of Discipline recommended coverages that other carriers may not be aware of or able to provide. Knowing the needs and minimum requirements for United Methodist churches is core to UMI’s ministry of protecting the people and properties of The United Methodist Church.
William Fraley, of Sylvan Hills UMC in response to a recent survey of UMI policy holders said “We have filed…claims since moving to UMI 3-4 years ago and in every case we have been completely satisfied with their support, particularly their timely responses (my calls & emails are always responded to in 24 hours or less).”
UMI reinsures its program through Swiss Re, the second largest reinsurer in the world. The board expressed their continued support of this administrative ministry that helps churches get back to fulfilling their roles of making disciples of Jesus Christ.