Dear Fellow Policyholders,
These are challenging days! After 2 years of Covid constraints, it looks like the economy is moving back toward normal. But now we’re all facing supply shortages, staffing shortages and inflation, not to mention the possibility of World War III.
As our economy has struggled over the last 2 years, the Exchange has also struggled. For the 2nd year in a row, our revenues did not cover our claims and other expenses, and our policyholder surplus declined.
We know that our policyholders face similar struggles. We have always tried to keep our prices down, but now we are forced to raise them. That’s the nature of inflation. If you haven’t raised your prices recently, you probably need to. None of us can absorb rising expenses with flat income for very long.
Our 2022 Subscriber Meeting and Advisory Committee election will be a video conference call at 10:30 am (central time) on Thursday, June 30th.
Here’s to better days ahead. If the people of Ukraine can maintain their determination to survive, surely we fabricare businesses in America can maintain ours.
