FIRST-OF-KIND UNEMPLOYMENT INSURANCE OPTIONS FOR 501(c)(3) NONPROFITS, PUBLIC ENTITIES AND TRIBALLY OWNED BUSINESSES

By September 18, 2017Blog

SAN JOSE, California – September 18, 2017 – 501(c) Services, in conjunction with Great American Insurance Group, has introduced UInsureSM, a first-of-kind admitted insurance program that provides employers a safe and secure alternative to the State Unemployment Insurance (SUI) program for certain nonprofit organizations, public entities and tribally owned businesses. UInsure provides customizable first dollar insurance options that range from an agreed-upon limit to coverage for all unemployment charges during the policy year. These options provide both peace of mind and budgetary certainty.

Since 1972, federal law has allowed 501(c)(3) nonprofits, public entities and tribally owned businesses to opt out of paying into the SUI program and instead reimburse the state for unemployment benefits paid to former employees. UInsure, which is paired with unemployment risk management services, offers employers potential savings in excess of 20% per year versus the tax associated with a state-run SUI program.

“This new program fills an unmet need in the admitted insurance marketplace and provides financial protection for our customers,” said Mike Sullivan, executive vice president of Great American Insurance Group. “UInsure is in line with our commitment to offer best-in-class insurance products. We are excited to expand our coverage set for 501(c)(3) nonprofit, public entity and tribally owned insureds.”

In addition to cost-effective insurance, every UInsure employer benefits from an extensive suite of risk management and loss-control services including unemployment claims management, hearing representation, access to an HR Hotline, certified training webinars and re-employment services for separated employees.

“For more than three decades, we’ve been helping nonprofits to save money through careful self-insurance programs,” said Darren Bowman, CEO of 501(c) Services. “Now we’re thrilled to be working with Great American to offer first dollar insurance options. We think UInsure is a great solution for risk-sensitive employers or those requiring budgetary certainty, particularly with the financial strength and security of Great American behind the program.”

About 501(c) Services
Based in San Jose, California, 501(c) Services has over three decades of experience in providing full-service alternatives to state-run unemployment insurance programs, and provides services to over 1,500 nonprofits nationally. It is the administrator of the 501(c) Agencies Trust, which offers a comprehensive suite of risk management services and multiple stop-loss protection solutions for its 501(c)(3) nonprofit members, now including customizable stop-loss insurance underwritten by Great American Insurance Company.

About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 100 years (most recent rating evaluation of “A+” (Superior) affirmed August 11, 2017). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.

UInsure insurance products are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and DC. Coverage is not available in all states.

Contacts:
Cynthia Koral
Chief Marketing Officer
501(c) Services
408-213-1148
ckoral@501c.com

David Ferron
Product Management Director
Great American Insurance Group
513-763-8313
dferron@gaig.com

Press Inquiries:
Diane P. Weidner
Great American Insurance Group
513-310-9427
dweidner@amfin.com

 

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