Safeco Gives Guideline Break To G.I.s

Safeco Gives Guideline Break To G.I.s

NU Online News Service, April 9, 3:49 p.m. EDT? Safeco said it has instituted some procedures to make it easier for home and vehicle policyholders who are on active military duty for the war with Iraq.

The Seattle-based company said that for active duty military customers involved in the conflict and who have personal insurance products, Safeco will modify several underwriting guidelines to help prevent disruptions in coverage.

Safeco said the modifications include pro-rating calculation of premium returned to these customers when they request a temporary cancellation of coverage, reinstating coverage at any time without penalties for cancellations due to military duty.

The company said it would also permit temporarily reducing coverage; for example, scaling back auto insurance to only comprehensive.

Safeco said it will also provide increased flexibility in securing routine underwriting information, such as policy signatures, which may be delayed due to military service.

The modified underwriting guidelines apply to all personal insurance products, Safeco said.

According to the insurer, policyholders on active duty aren't required to suspend or temporarily cancel coverage. Whenever they want to change coverage or restart a policy, they just need to let Safeco know of their status to take advantage of the new guidelines, the company said.