Venture Insurance Programs Expands PREFERRED CLUB® Program

PRODUCT: Package policy for private golf and country clubs

COMPANY: Venture Insurance Programs

BEST RATING: A (Excellent)

AVAILABILITY: Coverage is available through approved independent agents and brokers.

FOCUS: America’s love affair with the game of golf began when President Eisenhower joined Augusta National Golf Course and had a putting green installed on the White House lawn outside of the Oval Office. Around the same time, Arnold Palmer made his debut and began winning golf tournaments. His televised 1958 Masters Tournament win gave the young, charismatic golfer a name for himself, and he became fast friends with Ike.

Today, about 24.1 million Americans play golf, according to the National Golf Foundation—and young dynamos like Jordan Spieth, Jason Day, Dustin Johnson and Rickie Fowler are further enhancing America’s obsession.

In response, Venture Insurance Programs expands availability of its PREFERRED CLUB^® program—a package policy for private golf and country clubs through Allied World Assurance Company (AWAC)—to 24 states. AWAC is one of three carriers serving the PREFERRED CLUB program. Chubb and Zurich provide coverage in all 50 U.S. states.

“The more access we can provide to top-rated carriers for our clients, the better coverage they will find for their unique needs,” says Rob Mulhern, executive vice president, PREFERRED CLUB program at Venture Insurance Programs. “By partnering with these carriers, we can be sure our clients are covered for whatever may lie ahead.”

UNDERWRITING: AWAC product coverage includes building and personal property, including business income with an extended period of indemnity; general liability, including liquor liability, garage keepers legal liability and herbicide/pesticide; $1 million and $2 million tee-to-green for all playing surfaces, with no per-hole limitation; tree replacement and debris removal, including weight of ice and snow; broad-form outdoor property extensions; and flood coverage for the course up to a $50,000 sublimit. AWAC can provide limits for flood, earthquake and earthquake sprinkler leakage and entertain coastal risks, including wind, in all states.

In addition, the program features coverage for commercial auto for fleets, including valet parking; excess and umbrella liability up to $10 million, with the option to cover directors & officers and employment practices liability insurance in the umbrella; and pollution liability, including tanks coverage.

In addition to the AWAC offering, PREFERRED CLUB can also provide directors & officers liability, employment practices liability, cyber risk and privacy liability, workers compensation and excess umbrella with its various markets.

MINIMUM PREMIUM: $20,000 for all lines, including umbrella.

TARGET: The program serves golf clubs, golf management companies, private and semi-private clubs, social clubs, tennis clubs, private golf communities and golf clubs with homeowners associations.

COVERAGE TERRITORY: Coverage is available in all 50 U.S. states through Zurich and Chubb. AWAC provides admitted coverage in AL, CA, CO, CT, GA, ID, KS, KY, MA, MI, MS, MT, NE, NJ, NC, ND, PA, RI, SC, TN, TX, UT, VA and WI in addition to non-admitted property coverage in FL.

CONTACT: Rob Mulhern, executive vice president, PREFERRED CLUB program; Venture Insurance Programs, 1301 Wright’s Lane East, West Chester, PA 19380; 800-282-6247 ext. 257.

Ronimarie Acord is an IA contributor.