The AEGIS Board of Directors approved the issuance of continuity credits and other premium credits to eligible members who participated in our Excess Liability, Directors & Officers, Property and AEGIS London programs, and for the first time, expanded the premium credit program to include Excess Workers’ Compensation and Cyber Liability.
Based on the positive 2017 financial results, and recognizing that the credit programs contribute to the lowest long-term cost of risk for our members, the Board declared the following credit program pools for the 2018 – 2019 year:
Excess Liability − $17.0 million, up from $12.5 million last year
Directors & Officers − $30.3 million, maintaining the same level as last year
Property − $4.0 million, up from $2.0 million last year
Excess Workers’ Compensation − $1 million, new this year
Cyber Liability − $1 million, new this year
AEGIS London− $1 million, maintaining the same level as last year
In total, more than $54 million in continuity and other premium credits are available to eligible members for the 2018 – 2019 year, up from $46 million last year. With the addition of our new Member Loyalty Credit, depending on the level of member participation, the total credit program pool for the year could rise to as much as $65 million.
These credit programs set AEGIS apart from the commercial market because they allow members to share in the positive financial results of the company. We have, in fact, declared $1.27 billion in continuity and premium credits to eligible policyholders since the inception of these programs.
The specific details that describe the individual credit amounts and how they can be applied to future policy renewals will be mailed to Excess Liability, D&O, Property, AEGIS London, Excess Workers’ Compensation and Cyber Liability policyholders within the next few weeks. For more information, please contact George Keefe, Senior Vice President – Member Relations by e-mail or phone at 201 508 2797.