Cajun Underwriters Reciprocal Exchange is a Louisiana Domiciled Insurance Company that received its Certificate of Authority on June 15, 2022.
Yes, On July 12, 2022, Demotech affirmed the company with a rating of “A Exceptional.”
Cajun Underwriters is a reciprocal insurance company. A reciprocal insurance exchange is a type of insurance company. In this structure, the carrier is owned by policyholders but managed by a separate entity. The policyholders spread their risks among themselves. Policyholders of a reciprocal insurance exchange are referred to as subscribers.
Yes, a Subscriber Agreement and Limited Power of Attorney are required and must be signed by the policyholder (first named insured) and received by Cajun Underwriters. Failure to provide these documents will result in cancellation of the policy. These documents will be available for e-signature online at www.cajunuw.com.
While Cajun Underwriters was going through the regulatory review process, SafePoint agreed to assume the Americas policies to give those policyholders a smooth transition from Americas Insurance Company. Once Cajun Underwriters was approved, those policies were transferred from SafePoint to Cajun Underwriters effective June 15, 2022.
Cajun Underwriters will start renewing assumed policies effective October 1, 2022.
Your agency will receive a commission direct deposit no later than fifteen days after the close of the month. Commissions will only be issued to agents who have completed and returned their contract to Cajun Underwriters.
Those commissions are paid by the Receiver approximately 15 days after close of the month.
Please click here to complete your application for appointment: https://safepointins.tfaforms.net/3
Please visit https://www.cajundc.com/Policy/default.aspx and login using the credentials provided to the agency principal. If you need assistance with retrieving your agency’s login credentials, please send an email to marketing@cajunuw.com
There are many ways that a customer can sign and return their subscription agreement:
1. Visit https://cajunuw.com/sample-agreement-documents/ and input Name, email and Policy number and your customers will be able to digital sign the form.
2. Visit https://cajunuw.com/sample-agreement-documents/ download the form and have your customer sign and return the agreement to
3. Customers are receiving a printed agreement in their policy jacket where they can sign and email back to policyservices@cajunuw.com
4. All Americas assumptions where we have a customer’s valid email are receiving a digital signature email where they can digitally sign the agreement.
5. You can call into 1(855)509-3432 and request for us to email the customer the digital signature agreement for them to sign.
6. You can have your customer call into 1(855)509-3432 and request for us to email them the digital signature agreement for them to sign.
All customers have 30 days from their policy effective date to get an agreement signed and returned. We reserve the right to cancel the policy when the agreements are not signed and returned.
APlease contact us at 1(855)509-3432
Customers can call us at 1(855)509-3432 or visit our site at https://cajunuw.com/claims/report-a-claim/
Please contact us at 1(855)509-3432 or log into your Cajun policy administration and make the change there. https://www.cajundc.com/Policy/default.aspx
Please contact us at 1(855)509-3432 or log into your Cajun policy administration and make the change there. https://www.cajundc.com/Policy/default.aspx
Please contact us at 1(855)509-3432
“Surplus” is the excess capital that insurance carriers must keep as a precaution in case the premiums are not enough to cover losses. In general, think of “surplus” as an insurance carrier’s savings account. Every insurance carrier is required to maintain a certain level of surplus in order to operate. Most “for-profit” insurance companies get the surplus in two ways: 1. through the accumulation of years of profits obtained from its policyholders; or 2. from selling stock on the stock market. However, because Cajun UW bases its rates upon what we predict will be needed to cover the costs of claims and expenses, there is no profit load included. In addition, because we do not sell our stock on the stock market, we must generate that surplus from our subscribers themselves. As each member joins the Exchange, a surplus contribution is required. These surplus contributions are 10 percent of the cost of your premium for years one through four and a maximum of 10 percent each year after. That’s because a surplus contribution actually saves you money over time. The more reserves we have to pay claims and cover operating costs, the lower we can keep our prices.
In our subscription agreement, please look at page 1, the section labeled “Non-Assessable Policies,” where it says the liability of the Subscriber is limited to the premium contribution specified in the policy. The policy is non-Assessable.
Contact us for details.
The insured and/or agent need to work with Waterstreet to have the non-renewal rescinded. Once this has taken place, the rescission needs to be sent to policyservices@cajunuw.com so that the team can then get the policy status updated and get the policy renewed into Cajun System.
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