[UCRDBR] California Casualty Financial Rating Change and Multi-State Withdrawal Notification

[Departmental Benefits Representatives]

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October 3, 2023

To:
Department Benefit Representatives
From:
Central HR Benefits Office on behalf of UC Office of the President
Re:
California Casualty Financial Rating Change and Multi-State Withdrawal Notification


DBRs please distribute this important information to your internal list serv.

UCOP received news of and wanted to share some significant changes regarding California Casualty.

AM Best Rating Change

California Casualty's AM Best rating recently decreased from B++ to B due to underwriting losses over the last 18 months. Mortgage loan underwriter Freddie Mac requires insurers to maintain an AM Best Rating of B+ or better. Due to California Casualty's downgrade, participants with mortgages underwritten by Freddie Mac who have Cal Casualty homeowner's insurance will receive notifications from their mortgage lender advising them to seek coverage from an alternative carrier. A Frequently Asked Questions page can be found at: https://www.calcas.com/fm-customer-faq<https://protect-us.mimecast.com/s/XpGLCVOVyOhxmEP5HGmU38?domain=calcas.com>

Withdrawal from Multiple States

Also, California Casualty has decided to withdraw from all states except Arizona, California, Colorado, Idaho, Kansas, Oregon, and Wyoming. Participants with home and/or auto policies underwritten by California Casualty in exiting states will receive a pre-notification email and a formal non-renewal notification via standard mail beginning in mid-October 2023. Policy holders will be given a notice of at least seventy (70) days before their non-renewal effective date. The non-renewal process is expected to take up to 2 years to complete. This change will impact 216 auto and 128 home UC policyholders. California Casualty is considered a financial institution, as a result, they are prohibited from sharing personally identifiable information (PII) customer data, such as names and possible UC location affiliation.

Customer Service Support

California Casualty has established a dedicated customer service team to aid affected participants during these transition periods. Participants may contact the Agency Services Department Team at 1-877-652-2638 or via email at agencyservices at calcas.com<mailto:agencyservices at calcas.com>. This team will offer guidance and support to participants as they navigate the process of securing new insurance coverage.

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