Shannon, I also spoke to my agent here in Clear Lake. The minimum premium for coverage as stated by Chubb is $1200. However once you actually complte an application they send back a quote. It must be a non profit, not necessarily a 501(c)3.
We are going to try and get a better rate next year but if we had not put the insurance in place when we did, Hill Country would have been cancelled due to the time it would take to go through a different agent. We made the decision to get insurance in place so racing could resume. We hope to get it cheaper next year, nut there is no guarantee. On Tuesday, April 6, 2021 at 9:33:47 AM UTC-5 Shannon Galway wrote: > I just spoke with my old agent at The David Agency in Chicago about the > Regatta Policy. Since Regatta dissolved, they are moving everyone to a > different policy that starts at around $1200/yr. Requirements are that you > be a 501c3 and be a US sailing member. > > > > The policy is necessary to cover a participant, spectator, random person > on the beach, municipality, or any other group attempting to sue the > organizers. > > > > Thanks, > > > > *Shannon Galway, P.E.* > > VP of Technical Services > > > > *Friede & Goldman, Ltd.* > > 3151 Briarpark Dr., Suite 800 > > Houston, Texas 77042 > > 713-952-3444 <(713)%20952-3444> > > [email protected] > > > > *Confidentiality Notice:* This electronic message transmission (and/or > the documents accompanying it) may contain confidential or privileged > information belonging to the sender, which is protected under trade secret, > unfair competition, and copyright laws. If you are not the intended > recipient, be aware that any disclosure, copying, distribution or use of > the contents is strictly prohibited. If you have received this electronic > transmission in error, please notify the sender by telephone at (713) > 952-3444 immediately. > > > > > > > > *From: *"[email protected]" <[email protected]> on behalf of > Roger <[email protected]> > *Reply-To: *"[email protected]" <[email protected]> > *Date: *Tuesday, April 6, 2021 at 08:48 > *To: *"[email protected]" <[email protected]>, " > [email protected]" <[email protected]>, " > [email protected]" <[email protected]> > *Subject: *[TCDYC] Division VI > > > > Division VI Sailors > > > > We wanted to let everyone know what has been going on with Division VI and > the insurance issue. The cancellation of Ides of March was a direct result > of that issue. The good news is that insurance is in place and the entire > Division VI sailing schedule is a go moving forward. > > > > In previous years the insurance company we use was able to provide > coverage for about $830 a year. We enjoyed years of stable premiums without > any increase in cost. The underwriter we were using got out of the game > this year which left us searching for a new provider. > > > > During our research we found that the only provider for this type of > insurance is through the Burgee program (CHUBB) and US Sailing. It took > forever for the underwriters to come back with a quote for our insurance. > We expected a rate increase but were not expecting it to come back at a > 355% increase over what we paid last year. The new quote with the required > US Sailing membership comes to $2950 a year vs. $830. > > > > Division VI pays the insurance at the beginning of each year and the host > clubs send in regatta fees to "reimburse" Division VI and pay for the > following years insurance. This left a deficit in funds at Division VI for > the increased cost on this year's premium. Fortunately, two of the host > clubs had the funds to cover the deficit and get the insurance in place so > we can continue our sailing events. We certainly did not want anymore > cancellations. > > > > Here is where we need everyone's help. We need to make up the deficit and > try to curb the cost of insurance going forward. We would like to ask for > your help in fundraising. If everyone will help with raising funds we can > solidify Division VI and secure our ability to produce regattas going > forward. > > > > Donations can be sent directly to Division VI. If you locate a donor or > corporate sponsor that wants a tax deductible donation, those can be made > through TCDYC which is a registered 501(c)3. > > > > Obviously we are open to any suggestions that the members may have as > well. Please direct all responses to the Division VI google group.If you're > not a member of the group, it's easy to join. > > > > [email protected] > > > > The Division VI Officers. > > > > > > > > > > > > -- > > You received this message because you are subscribed to the Google Groups > "Texas City Dike Yacht Club" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/tcdyc/CALAKZ74tkHXA045iYN4YT6KU1FPPMmaPzDq8BhDf%3Dne94fJ4kg%40mail.gmail.com > > <https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fgroups.google.com%2Fd%2Fmsgid%2Ftcdyc%2FCALAKZ74tkHXA045iYN4YT6KU1FPPMmaPzDq8BhDf%253Dne94fJ4kg%2540mail.gmail.com%3Futm_medium%3Demail%26utm_source%3Dfooter&data=04%7C01%7Cs.galway%40fng.com%7C447d76643b1948efab2d08d8f902ba07%7C55267f2923054ea4b4dc65d635255cd4%7C0%7C0%7C637533137392642239%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=cMU6Bq1GrVwrMOHaoB133VME8UF3RuGmt37PHlkfvHM%3D&reserved=0> > . > > -- You received this message because you are subscribed to the Google Groups "Texas City Dike Yacht Club" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/tcdyc/9c352159-317c-460a-b511-ccc8240b2abcn%40googlegroups.com.
