Fall signals not only the end of summer but the beginning of a new season. At Enduris it signals the beginning of a new policy year, a time to reflect on last year and make plans for the year ahead.
First on our minds are the Members we serve. We connected with many of you throughout last year and worked through the unprecedented challenges you faced and are still facing. It is impressive to see the determination, creativity and compassion when stepping into new territory and meeting the challenges. This strong partnership with our members has provided us the opportunity to share solutions with special purpose districts across the state.
Enduris faced our own challenges with the hard market conditions in reinsurance, especially in property and cyber. Most reinsurance markets were increasing rates while decreasing coverage and limits. The risk pools property reinsurance rate increased 42%, and cyber increased 892% (no, this is not a typo). The average rate increase of an Enduris member was much less, about 10-15% (increases can vary due to exposure changes and loss experience). We did not decrease our limits or coverage. Thank you for your continued support and membership. Enduris looks forward to strengthening our partnership with you by offering continued quality educational opportunities, reliable risk management advice, responsive claims service, and a staff that finds satisfaction in serving you.
