Principal Group: Rate Stability in Unprecedented Times
The coronavirus (COVID-19) pandemic has created unprecedented times. And like many of you, we’re closely monitoring the spread and impact. Our thoughts go out to those who have been directly affected by the virus in their communities, health care workers who are on the frontlines, and businesses who have had to temporarily close.
Principal want to help. One way they can do that is to remove renewal conversations that are going on right now. For employers with less than 500 employees and policy anniversary dates of May 1, 2020 through Aug. 15, 2020, there won’t be any rate increases.*
As a reminder, you can find answers to COVID-19 questions on Principal's website, such as what is or isn’t covered under our policies, continuing coverage for layoffs/furloughs, and billing/premium information.
Over our 140-year history, Principal has had significant experience in navigating periods of volatility and uncertainty. And this time is no different. Their focus, as always, will be on helping customers protect their financial security. Principal will do this by keeping our employees safe and healthy, the business running, and staying focused on their mission.
We appreciate your flexibility and understanding during these truly unprecedented times. We know this is challenging, both personally and professionally. As you have questions, contact BUA. We’re here and ready to help, in any way we can.