Venture’s Preferred Club Program becomes the only club insurance provider with underwriting authority from three top-rated carriers enabling its underwriters to accommodate the broadest spectrum of risks in the golf industry
West Chester, Pa.—February 9, 2010–Venture Insurance Programs (www.ventureprograms.com), a national program administrator and leader in the design and underwriting of select industry focused insurance packages, has added Zurich in North America, rated “A” (Excellent) A.M. Best Co.*, as its newest carrier for The Preferred Club Program®. The Preferred Club Program is a leading insurance provider to the golf and country club industry, insuring more than 1,000 private, semi-private and upscale daily-fee clubs, as well as top golf management companies, with custom club package and workers’ compensation products.
“With the addition of Zurich, Venture is the only club insurance provider trusted with underwriting authority from three A.M. Best A-rated or better carriers, which positions our Preferred Club Program to accommodate the broadest spectrum of risks in the golf industry with all lines coverage,” said Michael DeMarco, Executive Vice President of the Preferred Club Program. “Our multi-carrier access maximizes the chances that we’ll have the right fit for a broker’s club customers’ unique needs.”
As part of the underwriting arrangement, Zurich will use the Preferred Club Program’s proprietary forms and feature the following comprehensive coverage: General Liability, Commercial Auto, Excess and Umbrella liability, Property, Tee-to-Green coverage for all playing surfaces, Cart Fleet and Errant Ball coverage, Earthquake and Flood, Pesticide/Herbicide Applicators Liability, Inland Marine, Liquor Liability, Crime and Business Interruption coverage. Through other underwriting relationships, the Preferred Club Program can also provide EPLI, D&O, Fiduciary Liability, Accident & Health, Workers’ Compensation and the Ultimate Umbrella™ with increased limits and broadened coverage.
“Having issued over 12,000 golf-related policies and administered over 5,000 claims, the Preferred Club Program is trusted to insure eight of the 18 largest golf management companies in the U.S.,” DeMarco said. “The Preferred Club Program features 10 dedicated underwriters with over 175 years of combined golf underwriting experience, allowing us to provide an exceptional level of personalized service and expertise to the retail agent and club customers we serve.”
The Preferred Club Program, which is marketed exclusively through agents and brokers, also offers access to all-lines coverage through the Chubb Group of Insurance Companies, Hanover Insurance Company, and Allied World Assurance Company for coastal states, as well as Workers’ Compensation coverage through The Hartford, and management liability through RSUI and USLI.
The Preferred Club Program also offers proprietary risk management programs, administering over 5,000 club safety loss control visits for some of the best-run clubs in the country. Clubs that have utilized its comprehensive risk management program have, on average, decreased claims frequency by 16 percent and claim severity by 18 percent per year. In addition, all clubs insured through the Preferred Club Program can receive exclusive CardioReady® Certification to assure that a cardiac emergency readiness plan is in place to help club members in a sudden cardiac arrest situation. This certification is not available through any other insurance provider.
About Venture Insurance Programs
Venture Insurance Programs (www.ventureprograms.com) is a leading program administrator that designs, underwrites and distributes industry-specific insurance packages. Based in West Chester, Pa., Venture has underwriting alliances with the world’s leading carrier groups, including Chubb, CNA, Crum & Forester, Fireman’s Fund, The Hartford, Hiscox, Markel, The Hanover, PIA, PMA, RLI, RSUI, USLI, Zurich North America and Lloyd’s of London. Founded in 1993, Venture provides specialty insurance packages for select vertical industries—including golf and country clubs, golf destination resorts, hunting and fishing lodges, life science businesses, technology companies, hotels and marina operators.
As of 12/30/09. for ratings and financial information about Zurich American Insurance Company, visit www.zurichna.com. Insurance is underwritten by Zurich American Insurance Company and its underwriting subsidiaries. Insurance coverages underwritten by individual member companies of Zurich in North America, including Zurich American Insurance Company. Certain coverages are not available in all states. Some coverages may be written on a nonadmitted basis through licensed surplus lines brokers. Risk engineering services are provided by Zurich Services Corporation.