Important COVID-19 Updates

Important COVID-19 Updates

06/02/20

IMT continues to monitor COVID-19 status around our six state writing territories. You remain top of mind. It is our hope that you are finding peace among the crisis. While the uncertainties are still around us, we continue to take positive steps towards returning to our new normal.

IMT Employee Status
We continue to operate with alternative work arrangements for all employees. In addition, all non-essential business travel continues to be suspended. We have an exceptional group of employees who have taken the transition into work from home in stride. 

The IMT Claim Department continues to adjust claims when called upon. We have improved our virtual inspection capabilities to reduce the need for face-to-face interactions in certain scenarios. The entire Claim staff continues to distance themselves when making visits, including restriction of tools and equipment to their own only. Should an interior inspection be needed, the adjuster is communicating their arrival time and asking the property owner to have interior doors open and lights on to minimize contact. This approach will continue until further notice.

The IMT Loss Control Department continues to inspect locations. Similar to the Claim Department, all Loss Control Representatives continue to distance themselves making visits and minimize their contact with policyholders. In addition, the Loss Control Department has utilized virtual inspection technology as well.

A phased approach, complete with the proper safety measures and equipment, is planned for a future return to the Home Office, along with all field positions. A small percentage of employees will be allowed in the Home Office in each Phase. We truly appreciate your patience as we all navigate this together. Please do not hesitate to contact our office at 800-274-3531 or your local IMT Agent if we can be of assistance.

04/17/20

Policyholder Assistance Update: As previously communicated below, IMT Insurance is pleased to announce personal auto base rate reductions for policyholders have been approved by Insurance Departments in all six of our writing states! The rate reductions will be applied to personal auto policies for the next 12 months from the effective date shown below:

State

Effective Date

When will renewals begin seeing this?

Illinois

June 1, 2020

30 days prior to effective date – May 2, 2020

Iowa

May 22, 2020

30 days prior to effective date – April 22, 2020

Minnesota

June 21, 2020

65 days prior to effective date – April 17, 2020

Nebraska

May 22, 2020

30 days prior to effective date – April 22, 2020

South Dakota

May 22, 2020

30 days prior to effective date – April 22, 2020

Wisconsin

June 21, 2020

65 days prior to effective date – April 17, 2020

In addition, IMT withdrew previously approved homeowners base rate increases across all states. Assuming all of our policies renew, this would result in an annual premium reduction of nearly $5 million for our policyholders. Unlike a one-time refund, these rate change decisions will have a lasting and permanent effect going forward. 

Thank you for your loyalty to IMT Insurance. We are here for you during these unprecedented times.

04/10/20

Policyholder Assistance Update: As many of our agents and policyholders are experiencing the effects of the COVID-19 pandemic, we know that you are getting information overload. Most likely, you and your families are experiencing additional stress and having concerns about the uncertainties of when and how things will return to what we knew as ‘normal’. We are, too. At IMT, our employees pride ourselves on living, working and volunteering in the same communities that you are in. We are having the same worries as you and we want to help.

IMT is a 136 year-old mutual insurance company. We are not here for the short-term fix. We have, and will always, base our decisions on the best, long-term interest of our policyholders. We are committed to providing support and financial relief to our policyholders the IMT Way.

After careful consideration on how we could create the largest financial impact, instead of a small one-time refund, we have decided to reduce our personal auto premium base rates upon your next renewal and withdraw previously approved homeowners base rate increases across all states. Assuming all of our policies renew, this would result in an annual premium reduction of nearly $5 million for our policyholders. We are working with the Insurance Departments in all six of our writing states to approve these base rate changes as quickly as possible. Unlike a one-time refund, these rate change decisions will have a lasting and permanent effect going forward.  

We understand that life is not easy right now. We hope our decisions will financially assist our policyholders through these difficult times and they remain worry free for years to come.

If you are an IMT Policyholder, have been affected by recent COVID-19 events, and are unable to make a premium payment, please contact your IMT Agent to discuss payment options.

We appreciate your patience as we continue to navigate this fluid situation together. We can assure you we are here for you as your trusted Midwest insurance carrier. IMT Insurance continues to operate with a strong balance sheet, as indicated with A.M. Best's Rating of "A" (Excellent) for both IMT Insurance Company and Wadena Insurance Company. Amidst this pandemic, we are positioned to meet ongoing insurance obligations.

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As a reminder, IMT Insurance offers the following tools to policyholders:

Access and/or pay your policy online

My Policy+:  Access your IMT policy 24/7 via My Policy+.  Don't have a My Policy+ account?  No problem!  Click 'Create Account' to get setup. 

One-Time Payment: Make a one-time payment to your policy.

- Worry Free App: Access your policy, contact your agency, and pay your bill!  iOS | Android

- Pay by Mail: P.O. Box 402001, Des Moines, IA 50940-2001

- Call your local IMT Agent

To report a claim, please follow the steps listed below:

  1. Contact your local IMT Agent
  2. If your Agent is unavailable, please call 800-274-3531. We are available 24 hours a day, 7 days a week.
  3. Worry Free App: Limited types of claims can be reported through the app iOSAndroid 

04/08/20

Policyholder Assistance: IMT continues to monitor the COVID-19 outbreak, and is continually thinking about all of our agents and policyholders. As a mutual insurance company, we evaluate our decisions based upon the best, long-term interest of our policyholders. We are currently investigating options to assist our policyholders and intend to notify you as soon as a resolution has been determined.

03/25/20

IMT Insurance has extended the alternative work arrangements for all IMT offices indefinitely effective March 25, 2020. While the conditions around us continue to change, we can assure you that we are here for you. Please contact your local IMT Agent or our office if we can be of assistance. 

03/20/20

IMT Insurance extends our sympathy to those affected by the COVID-19 Pandemic.  The economic impact could be significant, particularly on small businesses and those in the travel, food and beverage, and related industries. 

If you are an IMT Policyholder, have been affected by recent COVID-19 events, and are unable to make a premium payment, please contact your IMT Agent to discuss payment options.

We continue to monitor federal legislation and state regulatory activity related to these issues.

IMT Insurance continues to operate with a strong balance sheet, as indicated with A.M. Best's Rating of "A" (Excellent) for both IMT Insurance Company and Wadena Insurance Company. Amidst this pandemic, we are positioned to meet ongoing insurance obligations. 

If you have any questions related to COVID-19 and your policy, please contact your local IMT Agent. Your patience is appreciated as we continue to navigate this fluid situation. 
____________________________________________________________________________

As a reminder, IMT Insurance offers the following tools to policyholders:

Access and/or pay your policy online

- My Policy+:  Access your IMT policy 24/7 via My Policy+.  Don't have a My Policy+ account?  No problem!  Click 'Create Account' to get setup. 

- One-Time Payment: Make a one-time payment to your policy.

- Worry Free App: Access your policy, contact your agency, and pay your bill!  iOS | Android

- Pay by Mail: P.O. Box 402001, Des Moines, IA 50940-2001

- Call your local IMT Agent

To report a claim, please follow the steps listed below:

1. Contact your local IMT Agent

2. If your Agent is unavailable, please call 800-274-3531. We are available 24 hours a day, 7 days a week.

3. Worry Free App: Limited types of claims can be reported through the app iOS | Android 

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03/16/20

IMT Implements COVID-19 Response Plan

IMT Insurance has been actively monitoring the COVID-19 for the past several weeks.  As a result, we are currently deploying a Social Distancing response plan. This plan is designed to maintain business continuity and decrease the risk of exposure to our employees, agents, mutuals, policyholders, partners, and surrounding communities.  The safety and well-being of these parties is our utmost concern.

While the conditions are changing quickly during this unparalleled event, we can assure you that business will proceed as usual.  However, we wanted to make you aware of the following implemented guidelines aimed to do our part to help mitigate the potential spread of the virus:

  • Effective Immediately:
    • No outside visitors will be permitted at any IMT office.
    • All non-essential business travel has been suspended for IMT employees. This includes our Territory Managers ceasing face-to-face meetings through April 10th. The IMT Claims and Loss Control departments will continue to operate as usual, being mindful of their in-person exposure.
  • Alternative Work Arrangements:
    • All IMT offices will temporarily begin operating with alternative work arrangements beginning Monday, March 16th through Friday, April 3rd

We appreciate your patience and understanding during this unprecedented time.

Copyright 2020 IMT Insurance

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