August 21, 2018
TO:
All USA Skal Clubs participating in the group insurance coverage for:
Crime
General Liability
Directors & Officers
FROM:
Alton Hagen, CMP, DMCP
Skål USA VP - Finance
With the September 1 renewal date fast approaching for these three policies, it's time once again to learn which clubs within Skål USA National Committee wish to participate.
In checking with our insurance agent, the expectation is there will be very little, if any, increase in the premiums of these three policies.
Last year, with 39 clubs, representing a total of 1,819 members, participating in this coverage, the annual premiums were:
Directors & Officers (D&O) coverage is $7,180 ($184.11 per participating club)
Crime coverage is $2,557 ($65.57 per club).
General Liability coverage was based on the 1,819 members of the 39 participating clubs which resulted in a premium of $3,413.00 at $1.88 per member.
Consequently, once renewal rates are confirmed for each policy, invoices to each participating club will be customized to reflect their respective share of the General Liability coverage per the attached list of members.
For example, using the above rates from last year, SI Kansas City received an invoice for:
D&O
$184.11
Crime
$ 65.57
GL @ $1.88 X 37 members
$ 69.56
Total
$319.24
While SI New York received an invoice for:
D&O
$184.11
Crime
$ 65.57
GL @ $1.88 X 81 members
$
152.28
Total
$401.96
At your earliest convenience, please let both Skål USA's Administrators and me know if you do, or do not, wish to participate in this coverage for September 1, 2018 - August 31, 2019
by replying to skalusa@buses.org with a "yes" or "no".
Of course, please don't hesitate to reach out to me via email (
AHagen@AgendaUSA.com) or telephone (913.268.4466) should you have any questions or wish additional information.
Sincerely,
Alton Hagen, CMP, DMCP
Vice President - Finance
