A Letter From Our Chairperson
Dear Fellow Fabricare Business Owners:I am pleased to report that National Fire and Indemnity Exchange generated a profit of $452,000 in 2007. The Advisory Committee has voted to return two-thirds of that profit to the Exchange’s policyholders: one-third as dividends and one-third as credits to subscriber savings accounts. The remaining one-third is being kept in the Exchange to further strengthen its financial condition (already “Excellent” according to A.M. Best) and facilitate a broadening of the products the Exchange offers the fabricare industry.Commercial Multi-Peril Packages continue to be the Exchange’s primary coverage's, but in recent years the Exchange has expanded its offerings to include Commercial Auto and Commercial Umbrella. These additional offerings are not yet available in some states. Catastrophe exposures, especially hurricanes, continue to be a major issue for most insurers, including ours. Our Exchange manages hurricane exposures in multiple ways:
· We spread exposures geographically across 32 states. We encourage everyone to “be prepared”. One big risk that most businesses are not prepared for is the risk of flood. We strongly recommend that everyone consider purchasing flood insurance from the National Flood Insurance Program. We can help you access that program. The Advisory Committee is honored to represent policyholder interests in the operation of the Exchange. We strive to make the Exchange the best it can be. Thank you for letting us serve you. Sincerely, Jeanne Wolf Advisory Committee Chairperson |
From our scrapbook
NIE has a wonderful collection of dry cleaner, coin-operated, and fabricare industry ads with memorabilia throughout the years. Please visit our scrapbook to view more glimpses of our history devoted to insuring dry cleaners and coin laundries since 1915. |
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6030 Bancroft Avenue, St. Louis MO, 63109 |
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