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Composition

Syllabus Town Ins. Programs Coverages & Limits Where Premium Dollars are Spent Limits, Exclusions & other Pitfalls to Avoid. Composition. Municipal Insurance 101. Robert Bambino. NY Municipal Insurance Reciprocal. I. ‘Typical’ Town Property & Casualty Insurance Program.

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Composition

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  1. Syllabus • Town Ins. Programs • Coverages & Limits • Where Premium Dollars are Spent • Limits, Exclusions & other Pitfalls to Avoid Composition Municipal Insurance 101 Robert Bambino NY Municipal Insurance Reciprocal

  2. I. ‘Typical’ Town Property & Casualty Insurance Program

  3. ‘Typical’ Town Property & Casualty Insurance Programs

  4. II. Coverages & Limits

  5. Coverages and Limits

  6. Other Coverages

  7. III. Allocation of Premium Dollars: Mid-Size Town

  8. 2005 Premium Projections

  9. Breakdown of Incurred Losses: Where are the Loss Dollars Going?

  10. IV. Limits, Exclusions & Other Pitfalls to Avoid: Property

  11. Limits, Exclusions & Other Pitfalls to Avoid:General Liability

  12. Limits, Exclusions & Other Pitfalls to AvoidPublic Officials

  13. Frequently Asked Questions Q: Do I need a Builders Risk Policy? A: Yes, for large renovations and new construction – unless the Gen. Contractor provides it Q: What should the limits be for my employee theft coverage? A: Difficult to determine. You can use: MPL x [ f ] f = efficiency of fraud control methods. Limits may not be available! Q: Do I have coverage for skateboard parks, pools and snowmobile trails? A: Generally – yes, but you should contact your broker or insurer – might be an additional premium

  14. Frequently Asked Questions Q: Do we need to purchase mold coverage? A: Maybe – its something to check on. There may be coverage under the GL policy; the Property policy only covers if it is a result of a covered loss. Q: Which motor vehicles should I cover with Auto Physical Damage insurance? A: Those vehicles you can’t afford to loose or replace.

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