News Room

March 31, 2008

Assurant Specialty Property’s Renters Insurance Program Now Provides Up to 6 Months of Rent Payments After Job Loss

ATLANTA: Assurant Specialty Property has introduced an optional Involuntary Unemployment Insurance (IUI) endorsement to its renters insurance program that provides up to six months of rent protection – a maximum benefit of $1,000 a month – to insured residents who become involuntarily unemployed. The optional endorsement is now available in more than 30 states and approval is being sought in additional states.

Assurant Specialty Property is a leading provider of specialty insurance and collateral protection programs. It is part of Assurant (NYSE: AIZ), a premier provider of specialized insurance products and related services in North America and selected international markets.

Steve Hein, vice president, National Sales, said Assurant Specialty Property is the first insurance carrier to offer an IUI endorsement with its renters insurance program. “An immediate concern after a job loss is often how to pay the next month’s rent. And that can also be a concern of the person’s property manager. This new endorsement option for our renters insurance program can provide peace of mind to both parties in an uncertain economy.”

Assurant Specialty Property said IUI provides residents the security that they will receive assistance to cover their rent should they lose their job involuntarily, and property managers peace of mind in knowing that they will collect a rent stipend directly from the insurance carrier if a resident is unable to pay the rent.

This optional endorsement generally will add about $69 to the cost of the renter’s annual premium. The additional coverage will provide a benefit of up to $1,000 per month for a maximum of six months toward the resident’s monthly rent. Payments are made directly to the property management company or property owner.

Assurant Specialty Property has developed a turnkey renters insurance program with administrative and customer support, training, marketing collateral, insurance enrollment, claims administration, and much more to assist property managers in offering renters insurance to their residents.  For more information on this program, please contact Assurant Specialty Property at 800.852.2244, ext. 36009, or visit, www.assurantresidentsinsurance.com.

About Assurant Specialty Property

Assurant Specialty Property businesses are leading providers of creditor-placed homeowners insurance, collateral protection programs and related outsourcing services. They develop, underwrite, market and administer specialty property and personal lines of insurance through collaborative relationships with leading home mortgage companies, manufactured home builders and dealers, auto finance companies, property management companies and managing general agents. Assurant Specialty Property serves clients and their customers in all 50 states and the District of Columbia. www.assurantspecialtyproperty.com

Assurant Specialty Property is part of Assurant, a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses - Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property - partner with clients who are leaders in their industries and who have built leadership positions in a number of specialty insurance market segments worldwide. Assurant, a Fortune 500 company, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has over $25 billion in assets and $7 billion in annual revenue. www.assurant.com

Media Contact

James A. Sykes
Director. External Communications
Tel. 770.763.1015
Email james.sykes@assurant.com