Refund of Surplus Correction

In the printed newsletter you recently received from our company, there is an announcement of a refund of surplus to our policyholders.  There is a misprint in the newsletter – it states the refund is 20 % of gross premium and totals $3.1 million.  The notice should have read.

“The Board of Directors is pleased to announce it authorized a $3.5 million refund of surplus to our policyholders at a Special Board Meeting on January 14, 2022.  The underwriting profit earned in 2021 was exceptional and the Board decided it would issue a refund of surplus in the amount of approximately 15 % of a policy’s gross premium. ”

Please accept our apology for this error.

Yours truly,

Jeffery Howell, President