Who is Cajun Underwriters?
Cajun Underwriters Reciprocal Exchange is an Alabama Domiciled Insurance Company that received its Certificate of Authority on June 15, 2022.
Is Cajun Underwriters Reciprocal Exchange rated?
Yes, Cajun has received ratings from both Demotech and Kroll (KBRA). Demotech affirmed the company with a rating of “A Exceptional.”
Kroll affirmed the company with a rating of “BBB”.
What type of company is Cajun Underwriters?
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.
Is there a special document that is required by Cajun Underwriters?
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.
When will my agency receive commissions from Cajun Underwriters?
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.
If I do not have a current Cajun Underwriters Appointment, Where do I complete my application for appointment with Cajun?
Please reach out to our marketing team at marketing@cajunuw.com.
How do I access the Cajun policy administration if I am already an agent?
Please visit https://www.safepointdc.com/Policy/ 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
What are the process and ways I can get the Subscription agreement signed and returned to Cajun?
There are many ways that a customer can sign and return their subscription agreement:
1. Visit https://cajunuw.com/resources/ which provides a click here option at the top of the page. Input your Policy Number and Property Zip code where prompted. This will validate the policy and pre-fill the insured name. Once you review the forms, you will be able to digitally sign.
2. Customers also receive a printed agreement in their policy jacket where they can sign and email back to policyservices@cajunuw.com
3. You can call into 1-855-509-3432 and request for us to email the digital signature agreement for you to sign.
What happens if a customer does not return the Subscription Agreement?
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.
How do I file a claim?
Customers can call us at 1(855)509-3432 or visit our site at https://cajunuw.com/claims/report-a-claim/
How do I make a policy change?
Please contact us at 1-855-509-3432 in order to make updates to the policy
How do I update the contact information for my agency?
Please contact us at 1-855-509-3432 or send your request to marketing@cajunuw.com
What is the 10% surplus contribution?
“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.
Can insureds be assessed?
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.
On a dwelling fire (DP1) will a DWG1 form be required by Cajun Underwriters?
Yes, a DWG1 form will be mail out to the insured. Please email the signed form to policyservices@cajunuw.com
Will Cajun be increasing coverage A on all policies at renewal?
Cajun will follow the current renewal guidelines to ensure risk is insured to value an inflation factor is applied at renewal the same as Safepoint.
Will Cajun Underwriters re-inspect homes?
Yes, Cajun will follow our normal re-inspection ordering timeline.