Assurant Specialty Property's Renters Insurance Program Now Provides Up to 6
Months of Rent Payments After Job Loss
ATLANTA, March 31 /PRNewswire/ -- Assurant Specialty Property has
introduced an optional Involuntary Unemployment Insurance (IUI) endorsement to
its renters insurance program that provides up to six months of rent
protection -- a maximum benefit of $1,000 a month -- to insured residents who
become involuntarily unemployed. The optional endorsement is now available in
more than 30 states and approval is being sought in additional states.
Assurant Specialty Property is a leading provider of specialty insurance
and collateral protection programs. It is part of Assurant (NYSE: AIZ), a
premier provider of specialized insurance products and related services in
North America and selected international markets.
Steve Hein, vice president, National Sales, said Assurant Specialty
Property is the first insurance carrier to offer an IUI endorsement with a
renters insurance program. "An immediate concern after a job loss is often
how to pay the next month's rent. And that also can be a concern of the
person's property manager. This new endorsement option for our renters
insurance program can provide peace of mind to both parties in an uncertain
economy."
Assurant Specialty Property said IUI provides residents the security that
they will receive assistance to cover their rent should they lose their job
involuntarily, and property managers peace of mind in knowing that they will
collect a rent stipend directly from the insurance carrier if a resident is
unable to pay the rent.
This optional endorsement generally will add about $69 to the cost of the
renter's annual premium. The additional coverage will provide a benefit of up
to $1,000 per month for a maximum of six months toward the resident's monthly
rent. Payments are made directly to the property management company or
property owner.
Assurant Specialty Property has developed a turnkey renters insurance
program with administrative and customer support, training, marketing
collateral, insurance enrollment, claims administration, and much more to
assist property managers in offering renters insurance to their residents.
For more information on this program, please contact Assurant Specialty
Property at 800.852.2244, ext. 36009, or visit,
http://www.assurantresidentsinsurance.com.
About Assurant Specialty Property
Assurant Specialty Property businesses are leading providers of creditor-
placed homeowners insurance, collateral protection programs and related
outsourcing services. They develop, underwrite, market and administer
specialty property and personal lines of insurance through collaborative
relationships with leading home mortgage companies, manufactured home builders
and dealers, auto finance companies, property management companies and
managing general agents. Assurant Specialty Property serves clients and their
customers in all 50 states and the District of Columbia.
http://www.assurantspecialtyproperty.com
Assurant Specialty Property is part of Assurant, a premier provider of
specialized insurance products and related services in North America and
selected international markets. Its four key businesses -- Assurant Employee
Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property
-- partner with clients who are leaders in their industries and who have built
leadership positions in a number of specialty insurance market segments
worldwide. Assurant, a Fortune 500 company, is traded on the New York Stock
Exchange under the symbol AIZ. Assurant has over $25 billion in assets and $7
billion in annual revenue. http://www.assurant.com
Media Contact: James A. Sykes, 770.763.1015, james.sykes@assurant.com
SOURCE Assurant Specialty Property
James A. Sykes of Assurant Specialty Property, +1-770-763-1015,
james.sykes@assurant.com
