Excess Profits to Policyholders–Update
Thank you for being a policyholder with Preferra Insurance Company RRG. Due to the company’s strong financial and operating performance in 2023, we’re now realizing our long-held mission of issuing dividend checks to eligible Preferra policyholders, like you, this year!
This coming September and October, you’ll receive a dividend check in the amount of 6.2% of the annual premiums you paid for your liability insurance with us. This dividend is for maintaining your policy throughout 2023 and for still being insured with us during April 2024 when Preferra’s Board of Directors declared this dividend.
We created Preferra Insurance Company RRG to specialize in protecting social workers and behavioral health professionals across America. No other professional liability insurance company in this nation is so unique in this way. Preferra is designed to be solely owned by you and all of our policyholders, including students, individuals and agencies. We’re not like the vast majority of insurance companies owned by stockholders whose primary purpose is to create profits for shareholders.
As President of Preferra and a fellow social worker, my most important duty is to look out for your best interests. You may take some comfort in knowing that the Preferra board includes social workers, NASW Social Work Pioneers®, alongside insurance industry professionals dedicated to making decisions in your best interest. We’ve built an outstanding company rated “Excellent” (A-) by AM Best, this country’s premier rating organization. And our ability to pay our claims is strongly backed by two of the world’s most respected reinsurance companies – Lloyd’s and Swiss Re. We’re as solid as a rock, despite the fact that our premiums are among the most affordable in America
We are also excited to announce more benefits for our policyholders. Stay tuned for the launch of a Job Bank for individuals looking for career opportunities and employers looking to fill job openings. We will also be offering Risk Management and Continuing Education courses at no cost to our policyholders.
We greatly appreciate your dedication to help our community members in need and take serious our role in supporting your most valuable work.
Warm Regards
Dr. Richard Jones, Ph.D.
President
Preferra Insurance Company RRG
P.S. We are here to address any questions or confusion you might have as a result of recent communications from NASW Assurance Services. Please call us at 888-278-0038, email us at [email protected], or visit our website for FAQs with answers to your questions. We will be announcing a series of town hall meetings to which you will be invited to join us so that we may discuss with you our plan for Preferra and answer any of your questions.