Group Equipment Insurance Update
October 26, 2001
Sarasota, FL - Negotiations are underway regarding significant changes to the equipment and liability group insurance coverage provided to WEVA International members, the program administrator, Buell Insurance, has reported. A new underwriter will be announced shortly (and posted here on the WEVA website) to replace Hartford, which has stopped underwriting new business.
While final negotiations are ongoing, program administrator Brad Buell reported that an official announcement was imminent. “We are working diligently on the changes. We have three staff members working on the transition, to make it as seamless as possible. We have everything set up and ready to respond to the transition.”
WEVA International members currently protected under the program will have no loss of coverage, Buell reported. Normal expiration dates will be honored, and a seamless transition to the new underwriter is planned. There can be no cancellations of current policies, Buell described, as long as premiums are paid when due.
“Hartford was supposed to give us [notice of their mailing schedule], but they went ahead and started sending non-renewal notices. It was our plan to have our own notice and even new policy quotes in the mail beforehand. But WEVA members began receiving the Hartford letter first and got confused. The good news is that our new underwriter will offer even broader coverage than Hartford at similar or lower rates.”
The new underwriter will also provide equipment protection (including breakage), with expanded coverage limits, plus business interruption coverage, which protects a videographer against the loss of income caused by the insured equipment loss or breakdown. Videographers must be WEVA International members to take advantage of this special cost-saving program.
Buell reiterated that letters of notification (and new insurance policy quotes) will be sent to all those presently enrolled in the group insurance within 30 days. “At that point, we encourage each videographer to review the policy and quotation, and to give us a call if they have any questions. We can go over anything about the policy, and their coverage,” he said. For more information about about equipment and general liability insurance for WEVA International members contact Buell Insurance or the WEVA office at [email protected].
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