SECURA Insurance announces exit from Personal Lines insurance market
SECURA Insurance announced that it is exiting the Personal Lines insurance market over a 26-month process.
Neenah, Wis. (Oct. 20, 2023) – SECURA Insurance announced that it is exiting the Personal Lines insurance market over a 26-month process.
“After detailed discussions and evaluation of many long-term scenarios, we made the decision to step away from Personal Lines. This decision is not easy, yet it is one that will position SECURA for long-term profitability so we continue to be a strong, stable company for our associates, agents, and policyholders,” said Garth Wicinsky, SECURA President & CEO. “This change will allow us to focus our efforts on continuing to provide exceptional service and products for Commercial Lines, Specialty Lines, Agribusiness Lines, and Farm Lines.”
Effective Nov. 1, 2023, the carrier will no longer accept any new home and auto insurance clients. Over the next two years, the company will be nonrenewing existing Personal Lines business according to all applicable state regulations, for a complete exit by Dec. 31, 2025. Current Personal Lines policyholders will receive a notice of nonrenewal 60 days prior to their renewal and can work with their independent insurance agent to find an alternate insurance company.
The company is working with all affected employees to find alternate positions within the company.
SECURA continues to provide a broad range of competitive commercial, agribusiness, farm, nonprofit, and special event insurance through its network of independent insurance agencies across 13 states.