Dear Agents,
We are excited to share that, after the launch of our new entity, VUMI® Group, I.I. in Puerto Rico, in January 2022, we have successfully started issuing new business policies under this new entity.
Now, we are pleased to announce we are ready to start offering this opportunity to our existing insureds at the time of their renewal. VUMI® insureds whose policies are due for renewal in June, will have the option to transfer to VUMI® Group, I.I. in Puerto Rico or renew their policies with the existing entity (VIP Universal Medical Insurance Group, Ltd.) in Turks & Caicos Islands.
Puerto Rico has many advantages and offers an extra level of security, however, the option to migrate is completely voluntary.
We will offer this opportunity in phases according to the insureds’ country of residence and plan. If you sell in more than one country, you may therefore have part of your insureds who will be able to transfer now and others who will be offered to do so later.
The insureds who are not eligible to transfer at this time will follow the standard renewal process through the current entity of the policy in Turks & Caicos Islands.
Please note that transferring a policy to VUMI® Group, I.I. does not affect its premium rate as long as no changes in coverage or residency are made to the policy.
