KIWANIS INTERNATIONAL

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KIWANIS INTERNATIONAL. COMMERCIAL GENERAL LIABILITY INSURANCE. - PowerPoint PPT Presentation

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  • KIWANIS INTERNATIONALCOMMERCIAL GENERAL LIABILITY INSURANCE

  • NAMED INSUREDSKiwanis International and its owned, controlled, subsidiary or affiliated organizations now or hereafter constituted including;Kiwanis ClubsKiwanis DistrictsKiwanis DivisionsKiwanis Club Foundations Kiwanis District FoundationsKiwanis International FoundationKiwanis Societies (Canada)Key ClubsCircle K ClubsBuilders ClubsAKtion Clubs K KidsAdditional Insureds:Club MembersVolunteers

  • THE PROGRAMCOMMERCIAL GENERAL LIABILITY - (Bodily Injury, Personal Injury & Advertising Injury, and Property Damage):

    Each Occurrence Limit $1,000,000 General Aggregate $2,000,000**Products/Completed Operations $2,000,000Personal/Advertising Injury $1,000,000Non-Owned & Hired Auto Liability $1,000,000 subject to Policy Aggregate $3,000,000Fire Damage (Any One Fire) $ 50,000Medical Payments: 3rd Party $ 5,000 Members/Vols. $ 5,000INCLUDES: Premises/OperationsProducts/Completed OperationsIndependent Contractors Liability

    **NOTE: General Aggregate applies per District !

  • THE PROGRAM - Contd.COMMERCIAL UMBRELLA LIABILITY - Excess of Underlying/Primary Insurance:

    Each Occurrence Limit$35,000,000

    Policy Aggregate Limit$35,000,000**

    Self-Insured Retention$ 10,000

    Includes:Premises/OperationsProducts/Completed OperationsIndependent Contractors LiabilityNon-Owned & Hired Auto Liability

    **NOTE: Limit applies per District !

  • KIWANIS Policy ExclusionsAircraft/Balloons/Parachutes/Ultra LightsSale of LiquorMotorized Racing/Stunting EventsBungee & Velcro JumpingLaw Enforcement ActivitiesWatercraft: Owned, Non-Owned OVER 50Asbestos & Lead Related LiabilityMed. Payments for Athletic ParticipantsCare, Custody & Control - PropertyPollution LiabilityFirearms Limitation Live Hunting ExclusionEmployment Practices Liability

  • Current Market ClimateTen years of indiscriminate rate cuttingInvestment Income no longer offsets Underwriting Losses!Profit becomes the main objectiveFewer carriers willing to quoteCatastrophe Losses Flood, Fire or QuakeReinsurance Market LossesNeed to increase reserves on old claimsRestrictions on some classes of businessReduced Capacity/Limits available

  • Cost Components of Kiwanis Insurance ProgramInsurance PremiumsClaims within the Self-Insured RetentionSelf Insured Retention for Sexual Misconduct $250,000! Insurance charge per Kiwanian must fund both!

  • KIWANIS INTERNATIONALLIABILITY LOSSES - FREQUENCY11/88 TO 5/03

  • KIWANIS INTERNATIONAL FREQUENCY BY TYPE 11/88-5/03

  • KIWANIS INTERNATIONAL COST BY TYPE 11/88 TO 5/03 10,027.123

  • KIWANIS INTERNATIONALLIABILITY LOSSES - COST INCURRED11/88 TO 5/03

  • KIWANIS INTERNATIONALLoss Development As Of 5/03

    Sheet1

    PolicyValuedValuedValuedValuedValuedValuedValued

    YearMay-97May-98May-99May-00May-01May-02May-03

    1988-893,776,4483,883,7293,953,7043,939,9134,490,5274,516,1064,114,076

    1989-901,299,7941,299,7941,307,3331,304,8331,437,3261,438,7941,439,194

    1990-912,278,7942,255,4472,255,4473,499,6752,897,5862,794,8082,899,246

    1991-9210,992,04411,048,66111,055,46011,088,36910,994,16410,994,16410,994,164

    1992-93430,691442,554442,918443,172443,172443,172443,172

    1993-94269,131236,055190,556204,992693,711703,149718,396

    1994-95171,186317983286754272187268527268527268527

    Sheet2

    Sheet3

  • KIWANIS INTERNATIONALLoss Development As Of 5/03

    Sheet1

    PolicyValuedValuedValuedValuedValuedValuedValued

    YearMay-97May-98May-99May-00May-01May-02May-03

    1995-96262,580305,787287,547303,547318,547267,423277,224

    1996-9744,44484,272234,626255,353238,742248,411272,305

    1997-989,07048,420115,06588,924142,431157,514

    1998-9964,65091,863273,662153,684

    1999-0098,486252,522200,298

    2000-01161,941271,082

    2001-0257,763

    Sheet2

    Sheet3

  • KIWANIS INTERNATIONALLIABILITY & AUTO - LARGE LOSSESNUMBER VS. % OF TOTAL COST AS OF 5/0362 LOSSES OVER $25,000 = 95% OF THE TOTAL INCURRED COST OF CLAIMS!

  • KIWANIS INTERNATIONALLIABILITY PREMIUMS & LOSSES11/1/88-02 (As of 5/03)

  • KIWANIS INTERNATIONALACCOUNT LOSS RATIO: 11/1/88-02As of 5/03Loss Ratio = 145%

  • General Liability IssuesA Safety Coordinator in Every ClubA District Risk Manager in Each DistrictBe Involved, not just Sponsoring!Minimize High Hazard Activities!Use the Risk Management Packet!!!DONT offer others coverage under the Kiwanis Insurance Program!!!Protect the Program as if it were your own Business or Personal Insurance!When in doubt, Call HYLANT GROUP at (800) 678-0361

  • District Risk Managers: A valuable resource available to assist in answering questions about the Kiwanis General Liability Insurance Program, and to help in identifying and dealing with exposures to loss inherent in your club and District activities.DONT HESITATE TO CALL ON THEM!!!

  • HYLANT GROUP

    501 Congressional BoulevardSuite 300Post Office Box 1910Carmel, IN. 46082-1910Toll Free (800) 678-0361Phone (317) 817-5000Fax (317) 817-5151

  • DIRECTORS & OFFICERS LIABILITY INSURANCECovers Directors, Officers, Employees, Staff, Volunteers, Committee MembersCovers Employment Related MattersFull Prior Acts CoveragePays Defense in addition to Policy LimitsDefense Costs paid on current basisNo Insured vs. Insured Exclusion

  • KIWANIS D&O CoverageClaims Made Coverage - Important AspectsWhat this means for future & past BoardsAffordability IssueIncreased Claims involving HarassmentDiscrimination - Good Old Boy syndromeYouth group exposures & impact on the districtHow should clubs make a decision?

  • DIRECTORS & OFFICERS LIABILITY INSURANCEIncludes Entity CoverageNon-Cancelable by the InsurerFoundations covered at no additional cost$1,000,000 Limit with No RetentionPremium determined on a per district basisApplication Required

  • Typical D&O Claim AllegationsFailure to ActMismanagement of FundsConflict of InterestBad FaithUnfair Employment PracticesWrongful TerminationDiscriminationSexual Harassment

  • D&O vs. General Liability - What is the Difference?Genl. Liability covers Bodily Injury, Property Damage, and Advertising InjuryD&O Covers Wrongful Acts (not Bodily Injury, Property Damage, etc.) plus it covers Employment Practices Liability hazards.Genl. Liability is Occurrence CoverageD&O is Claims Made Coverage

  • COMPREHENSIVE CRIME INSURANCE COVERAGEIncludes Employee Dishonesty, Forgery, Money & Securities CoverageDefinition of Employee includes District Chairman, Volunteers, Non-Compensated Officers, and Committee Members$10,000 Base Limit with $100 Deductible$125 Annual PremiumNo Application Required

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