To our fellow policyholders:

2018 was good to the Exchange:

  • Premium written increased 5%.
  • Claims and underwriting expenses decreased 21%.
  • Net income after taxes was $426 thousand.
  • Policyholder surplus increased to $6.1 million.

Those numbers would have been even better except for $184 thousand incurred on old
pollution claims, $109 thousand incurred on Hurricane Florence in North Carolina and
$113 thousand incurred on Hurricane Michael in Florida.

Non-financial accomplishments in 2018 include the release of a new, secure web site
(www.NIEinsurance.com), and the release of a helpful video on YouTube (The Best
Approach to Insuring Customer Garments: https://youtu.be/saNfAofB6Dk).

The 2019 annual meeting will be 9 am Wednesday, June 19 (the day before the Clean Show)
at the Royal Sonesta Hotel in New Orleans. I encourage you to attend our annual meeting
and/or visit us at the Clean Show (booth #4514). If you can’t attend our annual meeting,
please send us your proxy card.

We appreciate your business. We’re determined to offer the best possible combination of
coverage, expertise, service, and price.

wolf2018

Sincerely,
jeanne-wolf-signature

Jeanne Wolf
Advisory Committee Chairperson