August 3, 2009
Written by Gregg Brekke

Although some will remember troubled days at the United Church of Christ Insurance Board (UCCIB), two years of better-than-anticipated growth, little or no rate increase for most customers, and stability through the recent financial downturn shows the corporation is on good footing.

Owing to better oversight and programs that help customers reduce their insurance risk, UCCIB President Cathy Green has a positive outlook for the company.

"We no longer have any concerns over the financial strength or stability of the organization," says Green. "We have unrestricted net assets after setting aside money for losses."

"Unrestricted net assets" is insurance lingo that means the company has no outstanding debts beyond the money it must reserve to cover potential claims. It's a good thing, uncommon in the industry, and a sign that the UCCIB's financial house is in order.

So good, in fact, that in addition to the 2,700 UCC and Christian Church (Disciples of Christ) institutions insuring through UCCIB, the company has added over 700 clients from the Presbyterian Church (USA) since it began offering coverage to them in June.

"We've grown 15 percent over the last year, even without counting the new PCUSA customers," says Green.

Green attributes the growth to the dedication and creativity of her staff and an expansion of services that came as a result of listening to church's needs.

Online background checking and education modules aimed at the prevention of sexual misconduct have enabled congregations to take advantage of a much needed area of institutional liability insurance.

The UCCIB also instituted a program that allows churches who sustain damage to "upgrade to green" using environmentally friendly technologies and materials – even when such methods are more expensive than traditional building processes.

These additions are what Green calls the "distinctive value proposition" of the UCCIB – they customize in the needs of churches. "[Churches] have unique architecture, organs and stained glass. These are difficult to replace and the awareness of these costs is part of the risk services we provide to help churches obtain the right coverage," says Green.

Green also lifts up the covenantal nature the UCCIB holds within the UCC. As a nonprofit corporation governed by the Conferences, the UCCIB owes its existence and oversight to the whole of the UCC, she says.

While other church-based insurance carriers have stopped offering services in disaster-battered areas such as the Gulf Coast, the UCCIB has "made choices that help us be inclusive to the whole church that the traditional marketplace might not consider," says Green.

In addition to continuing to cover churches in these areas, Green says keeping covenant involves helping churches get through financial hard times by offering flexibility to churches when they fall short on payments.

Without citing specifics, Green hints that the UCCIB hopes to include even more insurance options and expanded coverage in this year's renewal. She urges clients and potential clients to sign up for the UCCIB's quarterly safety newsletter and look for program updates at the UCCIB website InsuranceBoard.org.

"We are in many ways a new organization," says Green of the positive changes and financial outlook at UCCIB. "We're better able to serve the needs of our customers because they told us what they need and we've responded."

United Church of Christ News Service