Guuwaadzi’ Haubaa
(Hello to all!)
As I mark 24 years with AMERIND, our vision of Tribes Protecting Tribes has taken on new meaning for me. It was nearly a year ago, facing an unprecedented insurance crisis and the continued pressures of catastrophic events, that we put out a call to Tribal enterprises across the country. We found a solution to stabilize our residential program and ensure its sustainability, but it wouldn’t be realized without your help.
You responded.
The decision to partner with AMERIND on your commercial business allows your Tribal members to gain crucial residential coverage they wouldn’t have otherwise been able to secure. Together, we navigated this tumultuous landscape with resilience and determination, and today, I’m proud to share the positive outcomes we’ve seen because of this strategic move.
By building comprehensive coverage within communities, we’ve improved our footing and are able to offer more competitive rates. Several Tribes saw cost savings by moving their commercial business to AMERIND, while their citizens have peace of mind, knowing they have continued access to coverage. That’s Tribes Protecting Tribes. Together, we found a solution where there weren’t many to be found.
Our recent Tribal Risk and Insurance Convening embodied this very sentiment. It was a milestone event, as we returned to independently hosting a gathering that brought together over 350 stakeholders from across Indian Country. The theme, “Embracing Resilience – Navigating Change,” underscored the importance of working together to address the challenges we face. Attendees had the opportunity to engage in discussions on a wide range of topics, from governance to employee safety to cyber liability and environmental awareness. These conversations are vital as they provide us with the insight and strategies necessary to build better solutions for our communities.
Looking forward, we are beginning to see the light at the end of the tunnel. Indications for 2025 are positive, with a much smaller increase in reinsurance costs of 5-15% projected. This is a pivotal turn, considering we saw a 50% spike in 2023 followed by a 20% increase in 2024. I’m hopeful this is a sign of good things to come and believe we’ll find our new normal by this time next year.
While the road has been challenging, we stayed in the fight. We have remained steadfast, thanks to our diversification across 36 states and over 400 Tribal communities. I want to extend my gratitude to each of you for your support and trust in AMERIND. Together, we are not just weathering the storm; we are building a brighter, more sustainable future for Tribal communities. I look forward to what we will achieve together in the coming months and years.
Warm regards,
Derek Valdo, Chief Executive Officer
Pueblo of Acoma