Simply a Better Way To Insure Your Florida Home

Transcription

1 Simply a Better Way To Insure Your Florida Home

2 Better Prepared. Simplified Recovery. Simply a Better Way People s Trust has created a better way to deliver affordable home insurance protection, built on preparedness and rapid response. This award-winning approach provides Florida homeowners with a simplified recovery experience at the greatest value. A partial view inside the Pompano Beach Response Center, operated by the Rapid Response Team.

3 A Message from our Chairman & CEO Throughout my career, I have always had a passion for excellence and innovation. Understanding the unique challenges in Florida, I co-founded People s Trust in 2008 with the mission to be Florida s best prepared home insurance company, delivering the greatest value and a simplified recovery experience to our policyholders. In an industry not known for innovation, we have pioneered a solution that provides affordable rates and simplified recovery to homeowners. Built on preparation and responsiveness, I am honored that our unique approach was recognized as the winner of the 2013 Enterprise Florida Innovators in Business Award. With more than 600 employees in our family of companies, and more than $260 million in direct written premium, People s Trust has emerged as an industry leader currently providing protection to over 135,000 policyholders and ranked as one of the top 10 carriers in the Sunshine State. We aim to be the best, not the biggest. As a privately-owned company, our vision is to build a respected and superior organization that provides the best value and encourages employees to treat customers the way they would want to be treated. It s Simply a Better Way. George W. Schaeffer Chairman & CEO Our Leadership Team (l to r): Jeff Vanderpool, Chief Claims Officer; Mitch Politzer, President; Mark Bowsher, Chief Underwriting Officer; Irina Schaeffer, Executive Vice President, People s Trust Holdings; George Schaeffer, Chairman and Chief Executive Officer; Kevin Walton, Chief Operating Officer, Rapid Response Team, LLC; Steve Martindale, Chief Financial Officer; Brett Frankel, Chief Compliance Officer and General Counsel; Adam Hasner, Chief Marketing and Communications Officer. 3

4 Our Better Way Our unique business approach includes an endorsement that provides exclusive access to the Rapid Response Team, our affiliated general contractor, 1 to perform mitigation and restoration services in the event that a claim is filed. The insured then benefits from 24/7 emergency response while avoiding the hassle of finding and managing contractors. Better Prepared People s Trust is uniquely prepared to meet Florida s home insurance needs, meaning we have the physical and fiscal resources ready to respond to a loss 24/7 and help our policyholders get back to normal fast. People s Trust has solid partnerships with highly rated reinsurance partners and strong financial stability, earning us a Financial Stability Rating (FSR) of A, Exceptional, from Demotech, Inc. 2 Our affiliate, the Rapid Response Team, has a fleet of over 150 service trucks and vehicles, as well as 10 Response Centers serving Florida that are stocked with water mitigation equipment, tools and other items necessary to repair policyholder claims. They also hold millions of dollars worth of emergency recovery supplies, such as tarps, plywood, generators and roofing materials. My first impression was that the workers were extraordinarily professional in uniforms and in their manners. They were eager to please us and made sure we were satisfied with the results. The level of customer service was incredible. As the process unfolded, we saw the quality in the RRT work and each worker seemed like a master in their field. They didn t just do the job, they did the job right the first time. We don t know where to begin in thanking you for your diligence and your kindness. In a time when we needed a gentle hand and a little guidance, People s Trust was there. Susan H. Policyholder

5 Award-Winning People s Trust won the Enterprise Florida Governor s Innovators in Business Award for its pioneering approach in the Florida homeowner s insurance market. Simplified Recovery In the event that a People s Trust policyholder must file a claim, we simplify the recovery process by eliminating the hassle of finding contractors and subcontractors, as well as coordinating all repairs. Our affiliated general contractor, Rapid Response Team, is the largest insurance restoration company in Florida and executes all administration, construction and repairs. The Rapid Response Team backs all workmanship with a 3-year, 100% customer satisfaction guarantee 3 that is unparalleled in the industry. Greater Value When Floridians are insured with People s Trust, they receive quality, affordable homeowner s insurance and experience higher customer satisfaction than with competing carriers. Because of the People s Trust investment in preparedness and commitment to simplified recovery, we pass additional savings along to our policyholders and deliver some of the most competitive home insurance rates in Florida. 5 In fact, the rate of People s Trust policyholders who report being very satisfied with the service they receive is 25% higher than those of other homeowner insurance companies. 4 They understand and appreciate that our simplified recovery process saves them time, hassle and money. 5

6 Offering a Sustainable Approach to Florida s Unique Environment After a series of brutal storms in 2004 and 2005, property insurers quickly began leaving the Florida market, creating a lack of competition and a serious affordability crisis for homeowners. Between 2005 and 2008, about 2.2 million homeowner s policies were cancelled or non-renewed. Homeowners were left with few choices and skyrocketing premiums due to the lack of competition. People s Trust emerged from that chaos. As Floridians, our founders were also struggling to find affordable and dependable home insurance, and determined there had to be a better way. In an industry not known for innovation, People s Trust created an award-winning approach. With affordability and predictable pricing as essential goals, we set out to reduce the costs that are typically out of an insurance company s control and make the entire recovery process simpler and less stressful. This produced an innovative approach to home insurance and Simply a Better Way was born. Controlling Demand Surge Because materials and labor are both at a premium after a storm hits, costs go through the roof. By embracing a new approach to home insurance, we are able to work with our affiliated general contractor, the Rapid Response Team, who invests upfront in materials, equipment and labor to avoid a post-storm price surge. Reducing Fraud & Managing Risk Fraud is another driver of higher costs, especially in Florida, which in turn results in higher premiums. By inspecting the homes we plan to insure, People s Trust can more appropriately provide affordable pricing. Additionally, by having high-quality repairs coordinated or performed by the Rapid Response Team, we can make certain that the homes we insure continue to be good risks even after a claim. With a diligent focus on upfront investment and controlling costs, we pass the savings on to consumers in the form of lower rates. That s the heart of the People s Trust promise better preparation, simplified recovery for our customers and a greater overall value. We save policyholders both money and time. It s Simply a Better Way.

7 Securing the Future Through Financial Strength and Preparation Financial Highlights Total Direct Written Premium $264,799,616 $211,182,469 $264,799,616 $211,182,469 Total Policies in Force 135,006 93, ,006 93, Year-Over-Year Cash & Invested Assets $208,333,207 $121,290,517 $208,333,207 $121,290, $89,337,086 Year-Over-Year Capital & Surplus $61,251,402 $61,251,402 $89,337, All figures as of December 31 Because of our financial strength and solid reinsurance program, People s Trust has the resources to be here when our policyholders need us most. In addition to our strong balance sheet, People s Trust has been assigned a Financial Stability Rating (FSR) of A, Exceptional, from Demotech, Inc., an independent financial analysis firm. 2 A strong reinsurance program is vital to the stability of any homeowner s insurance company. At People s Trust, we ve developed a solid reinsurance program with A-Rated private-market reinsurance partners who are well-capitalized and highly diversified. That, coupled with our ample surplus, provides the security to cover losses in the event of the next big storm, and even additional storms after that. 7

8 About Rapid Response Team Our affiliate, Rapid Response Team, is the largest insurance restoration General Contractor in Florida and is licensed, bonded and insured (GC License: #CGC ). With a staff of more than 300 full-time employees, they operate more than 135,000 square feet of warehouse storage at 10 Response Centers, maintain a fleet of more than 150 service trucks and vehicles, and store millions of dollars worth of restoration supplies and equipment. At People s Trust, we rely on the Rapid Response Team to perform four key activities on behalf of our policyholders: 24/7 Emergency Response and Mitigation When disaster strikes and time is of the essence, People s Trust deploys the Rapid Response Team any time of the day or night to prevent further damage and make emergency repairs. Rapid Response Team trucks are loaded with water mitigation equipment and other emergency supplies, helping to keep damage to a minimum and maintain low repair costs. Catastrophic Damage Control When a widespread disaster occurs, such as a hurricane or tornado, the Rapid Response Team can tap the full force of their operations to mobilize around the center of damage to quickly and efficiently mitigate losses and prevent further damage to the home. Because they ve invested millions of dollars in tarps, plywood, roofing supplies, generators and more all the things that will be in high demand after a storm they can respond quickly and avoid the higher costs of demand surge. By sealing the envelope, policyholders are protected while plans for longer-term repairs are established.

9 Jacksonville In addition to being prepared, the powerful combination of People s Trust and the Rapid Response Team is also proactive. We don t wait for phone service to be restored to receive claims in the aftermath of catastrophe. Instead, People s Trust arms the Rapid Response Team with the addresses of the homes we insure in the impacted area, putting our policyholders first in line for emergency mitigation, restoring a sense of normalcy and providing peace of mind when they need it most. High-Quality Repairs and Expert Restoration People s Trust will also call upon the Rapid Response Team to perform full repair and restoration work in the best interests of the policyholder. As the largest insurance restoration General Contractor in the state, they offer some of the highest quality repair and restoration expertise available in Florida. All workmanship is backed by an industry-leading 3-year, 100% customer satisfaction guarantee. Roofing Expertise In addition to emergency mitigation and restoration services, the Rapid Response Team operates a specialized division with an expertise in roofing services. RRT Roofing (GC License: #CCC ) is equipped with trained personnel, work trucks and materials to provide high-quality roof repairs and replacements in the event of damage to the home. They also invest heavily in preparation by stocking large quantities of materials, including tarps and roofing supplies, that are needed after disaster strikes. Tavares Orlando Bradenton Rapid Response Center Locations AS OF 4/1/15 Melbourne Fort Myers Delray Beach Pompano Beach Miami Gardens Cutler Bay You made an extremely stressful situation easy for us to live through. You helped us fall in love with our home again. Thank you for giving that back to us with the least amount of stress possible. Martina C. Policyholder 9

10 Our Simplified Claims Process Seamless, no-hassle recovery. All policyholders receive a Homeowner s Assistance Card, which contains a 24/7 claims phone number to use in the event of a claim. Should damage occur to a policyholder s home, we will work directly with the Rapid Response Team to assess the damage and determine the best course of action to get the home back to pre-loss condition as fast as possible. In many cases, People s Trust Insurance will coordinate and execute all aspects of the recovery process through the Rapid Response Team. This unique approach to the claims process is different than all other Florida homeowner insurance companies and ensures the highest level of consistency and quality. With this approach, the homeowner is not asked to call an outside contractor, submit quotes or get reimbursed for the cost of a covered repair. Because we can coordinate repairs instead of just issuing a check, the policyholder will only be responsible for paying the deductible. Financing or installment payments are available as necessary. As an insurance agent for 27 years I was far more impressed with how People s Trust handled my claim. I like not having to find a contractor on my own. Thanks for all your people s assistance. Patricia M. Policyholder

11 Seamless, No-Hassle Recovery Satisfaction Guaranteed The Rapid Response Team s workmanship is backed by a 3-year, 100% customer satisfaction guarantee. Ready When Damage Strikes Busted pipe? Fire? Storm damage? We re here when you need us. Together Through Recovery We'll be with you through every step of the recovery process from choosing materials to managing subcontractors until you're back to pre-loss condition. Simplified Claims. Rapid Recovery. Your First Call Set recovery in motion when you file a claim with one phone call, available 24/7. Repairs Begin You pay the deductible on your policy, and the Rapid Response Team completes or coordinates necessary repairs covered under your policy. Emergency Response 24/7 In emergencies, the Rapid Response Team deploys upon notice to prevent further damage. Assess Damage, Determine Coverage We ll schedule the Rapid Response Team to perform an onsite inspection to assess damage. Then, our claims adjuster will call to discuss coverage and next steps. For illustrative purposes only. Rapid Response Team, an entity affiliated to People s Trust Insurance Company, may coordinate or provide all repair services in conjunction with our Better Way approach. Participation in the Better Way approach requires the selection of the Preferred Contractor Endorsement Form, E023. Our Better Way approach is subject to product terms, exclusions and limitations. Policyholder Advocate Your voice throughout the claims process For illustrative purposes only. Rapid Response Team, an entity affiliated to People s Trust Insurance Company, may coordinate or provide all repair services in conjunction with our Better Way approach. Participation in the Better Way approach requires the selection of the Preferred Contractor Endorsement Form, E023. Our Better Way approach is subject to product terms, exclusions and limitations. Another way that People s Trust is different is through our Policyholder Advocate, an experienced staff member who works on behalf of policyholders. This valuable resource is on your side to assist you throughout the claims process. My job is to help policyholders every step of the way throughout a claim. Donna, Policyholder Advocate 11

12 Product Options At People s Trust Insurance, our goal is to provide Floridians with superior home insurance protection at an affordable price. We offer flexible insurance options designed to fit a range of budgetary and protection needs: Full-Service HO3 Policy This insurance option is for homeowners who want comprehensive protection with their Florida home insurance policy. This type of policy is for owner-occupied homes and home values starting at $100,000 or greater. This policy is designed to protect the policyholder s home and other structures on the property, such as a separate garage or fence. Our comprehensive Homeowner s Policy is only available to homes currently occupied by the owner. The owner must reside in the home at least nine months out of the year for the house to be considered a primary residence. To insure the house as a secondary or seasonal residence, the owner must reside in the home at least four months out of the year. Our Florida home insurance policy protects properties against many types of accidental loss, including, but not limited to: Fire or smoke Windstorm or hail Theft Vandalism Water (excluding flood) Inspections Our comprehensive home inspection is another part of our better way of doing business that helps policyholders save both time and money. Within 30 days of purchase, a People s Trust Field Risk Evaluator will complete the inspection at no cost to the homeowner. If the home shows existing damage in plain view, we will bring it to the homeowner s attention and may require that repairs be made in a timely manner. This started out as one of the biggest nightmares of our lives, and your team rectified every single issue. We have and will continue to recommend People s Trust Insurance just so friends and family can have the protection and peace of mind knowing that Rapid Response, if there s a problem, will be on the job! Thank you for going above and beyond and securing my home for my family. Harrison A. Policyholder

13 Basic Choice Coverage When saving money is a priority, Floridians have the option of considering Basic Choice, a named perils policy that provides a more affordable Florida home insurance option compared to traditional homeowner s insurance. This lower-cost insurance option includes coverage only for named perils, including fire, smoke, lightning, windstorm and hail. Basic Choice satisfies most mortgage requirements and may help some homeowners better afford their monthly mortgage payment. This type of policy is available for owner-occupied or tenant-occupied homes and home values starting at $50,000 or greater. Properties that are occupied by someone other than the owner must have a minimum of a six-month lease, and the tenant must be living in the home when the insurance is purchased. Basic Choice Exclusions Standard Basic Choice policies do NOT cover: Water Damage Theft Vandalism and Malicious Mischief Liability Coverages Personal Property And other additional perils that are outlined in the policy Flood Insurance Losses due to flooding are not typically covered under most residential policies, so it may be wise for the homeowner to consider adding a Florida Flood Insurance policy for complete protection. Flood insurance is 100% guaranteed by the National Flood Insurance Program (NFIP). Our flood insurance policies are issued by a third-party insurance company authorized by the NFIP. Flood insurance requires a 30-day waiting period on most new policies. For More Information People s Trust Insurance Sales Representatives or our network of Independent Agents are available to discuss coverage options. Please visit PeoplesTrustInsurance.com for additional information. Any details of the coverage and programs we provide are necessarily abbreviated in these pages. All coverage is subject to the provisions, limitations and exclusions stated in the policy contract. Any claim will be evaluated on its own merits. For a complete explanation of coverage, please consult one of our Sales Representatives or Independent Agents. Note: Policyholders may elect to add coverage for Liability or Personal Property by purchasing additional coverage. 13

14 Agency Partners People s Trust Agency Partners play a vital role in our continued growth. We re proud to be one of Florida s top-selling homeowner s insurance companies, and we hope to create ever-stronger relationships with our agents, together building franchise value that ensures mutual success for years to come. People s Trust considers the agencies we select for appointment to be among the very best in the state of Florida. By design, we are selective in our appointments. We take great pride in our high-quality network of Agency Partners, which have helped make us Florida s best-prepared homeowner s insurance company, delivering exceptional service and simplified recovery to our policyholders. People s Trust actively supports many agency programs, including the Florida Association of Insurance Agents (FAIA), the Professional Insurance Agents of Florida (PIA), the Latin American Association of Insurance Agencies (LAAIA) and the Independent Insurance Agents and Brokers of America. I wanted to commend People s Trust for such an incredible experience from start to finish. My wife and I are very happy with the professionalism and attention to detail regarding the overall work performed in our home. Although this was a very difficult time for our family, Rapid Response made all the difference just in time for the Holidays, so we sincerely thank you once again. Ryan S. Policyholder

15 Employee and Community Engagement At People s Trust, creating a better way to deliver home insurance to our policyholders is just the beginning of our pledge to our Florida family. We are also striving to provide a better way to the communities we serve through charitable donations and other community support. With involvement in quality causes such as Toys for Tots, American Cancer Society s Relay for Life, and Type 1 Diabetes Research through the JDRF, giving back to help others is part of who we are and what we do. The People s Trust commitment extends to our growing family of more than 135,000 policyholders, 300 Agency Partners and over 600 full-time employees throughout our affiliated companies. Unlike some of our competitors, People s Trust directly handles policyholder support and customer service activities and avoids the outsourcing of core functions that is common within the Florida insurance market. This advantage allows us to execute on important core values, such as trustworthiness and responsiveness, and to better communicate with our policyholders, while delivering on our promise to be here when needed most. We are proud to serve our policyholders with outstanding professional care always striving to treat them as we would want to be treated ourselves. Headquartered in the Research Park at Florida Atlantic University in Deerfield Beach, People s Trust provides professional training and development to ensure the respectful and consistent delivery of accurate information that our policyholders deserve beginning with an explanation of our simplified approach all the way through to staying connected and communicating consistently during any claim resolution. 1 When you take advantage of the People s Trust Better Way by opting for the Preferred Contractor Endorsement, you ll receive access to expert restoration and repairs from our affiliated General Contractor, the Rapid Response Team, including 24/7 emergency repair and mitigation, a Homeowner s Assistance Card, a dedicated no-hassle claims hotline and a discount on your premium. 2 People s Trust has received a Financial Stability Rating of A, Exceptional, from Demotech, Inc. The most current Financial Stability Rating must be verified by visiting Financial Stability Rating is a registered trademark of Demotech, Inc. 4 Sourced from a survey of 1,000 single-family Florida homeowners, conducted from July 31 to August 5, 2014, by Amplitude Research, an independent survey company. 5 Actual rates will vary according to the unique characteristics of each insured home. Individual savings may vary. Savings not guaranteed. Availability and coverage levels of some plan features are subject to state laws and underwriting requirements. Coverages, discounts and features subject to individual eligibility and to availability. Coverage exclusions and limitations may apply. For more information on this insurance and related programs, contact People s Trust Insurance Company. 3 3-year guarantee and 100% satisfaction on workmanship provided by the Rapid Response Team, LLC People s Trust Insurance Company 15

16 Better Prepared. Simplified Recovery. Simply a Better Way People s Trust Insurance Company 18 People s Trust Way Deerfield Beach, FL PeoplesTrustInsurance.com