K&K has been writing policies in the special events sphere for decades, but only recently added workers comp to its long list of coverages in the category.
PRODUCT: Workers Comp added to Venues Coverage
COMPANY: K&K Insurance Group, a subsidiary of Aon plc
BEST RATING: A+ (Superior)
AVAILABILITY: No prior appointment or agreement is necessary to submit applications for a coverage quotation.
FOCUS: “Venues present some unique risks, but we’ve been writing in this category for literally decades,” says Lorena Hatfield, marketing resources manager for K&K Insurance. “We’ve long offered property, general liability, inland marine, crime, commercial auto, liquor liability and excess liability specific to arenas, amphitheaters, civic centers, sports complexes and other event locations, but until now, did not have workers comp. Clients have requested it for years, so it’s an important addition to our portfolio.”
Hatfield emphasizes the benefits of purchasing workers comp through K&K. “When considering a one-time or recurring event, where attendance may top 10,000 people or more, many ‘mainstream’ underwriters might shy away from what they see as excessive exposure,” she says. “But venues are our niche—we’re familiar with how they operate, what loss control measures are appropriate and what coverage is required. This includes workers comp.” K&K offers in-house underwriting, policy administration, loss control and claims services, including 24-hour emergency claims phone service.
UNDERWRITING: Limits of up to $25 million with no aggregate. “We impose no volume commitments,” Hatfield says. “Our goal is to make it easy for licensed producers to place business with us.” For the venues program, simply download a paper application, then mail or fax it to a K&K in-house underwriter as noted in the directions. Required preliminary underwriting information includes an application; three years of company loss runs; schedule of events and dates; and a copy of the event/user agreement.
MINIMUM PREMIUM: $3,500. Premium is based on gross receipts, offering competitive pricing for facilities depending upon individual exposures.
TARGET: Facilities, arenas, amphitheaters, auditoriums, civic centers, coliseums, convention centers, movie theaters, music halls, performing arts centers/theaters and stadiums.
COVERAGE TERRITORY: All states
CONTACT: Molly Schory, senior underwriter; K&K Insurance Group, Inc., 1712 Magnavox Way, Fort Wayne, Indiana 46804; 800-440-5580.
Amy Skidmore is an IA contributor.
