The product offers commercial property, general liability, auto, inland marine, crime, excess and cyber coverages for libraries.
PRODUCT: ByTheCover
COMPANIES: An A-rated carrier
AVAILABILITY: Available on an open-brokerage basis, except in New York.
FOCUS: ByTheCover offers commercial property, general liability, auto, inland marine, crime, excess and cyber coverages for libraries in 26 states. It is the first and only program dedicated solely to libraries, which are historically covered, rated and classified incorrectly. The product responds to a need for stable and consistent insurance coverage against the specific exposures faced by educational, informational and academic communities.
During the design of ByTheCover, Brownyard partnered with a leading insurance broker with over 35 years of experience in the library industry. Utilizing this experience and knowledge, The Brownyard Group compiled and analyzed 25 years of library insurance data to understand and accommodate the specific challenges libraries face. ByTheCover provides underwriting capacity from a well-known A-rated carrier and will be available in all states soon.
“ByTheCover has provided libraries with stable and consistent insurance coverage to protect against a variety of specialized risks," says Domenic Antinucci, program manager, MemorialPro and ByTheCover. “Expanding to these new regions establishes ByTheCover's national presence and allows us to provide support and coverage for more communities across the nation."
COVERAGE DETAILS: ByTheCover offers commercial property, general liability, auto, inland marine, crime, excess and cyber coverages for libraries. The program includes limits of $1 million per occurrence and $3 million aggregate in general liability coverage and up to $10 million in excess.
Additional coverage highlights include:
- Abuse or molestation coverage
- Flood or backup of sewers and drains—up to $25,000
- Library books and media coverage
- Fine arts
- Medical payments for athletic participants
- Good Samaritan coverage for medical emergencies
UNDERWRITING: The program requires that library operations are the insured's primary function and purpose. Application requirements include 5-year loss history and all construction occupancy protection exposure (COPE) property information. ACORDs or an incumbent's application along with Brownyard's supplemental are accepted to quote.
TARGET: All municipal and private libraries, including small-town libraries, larger municipal libraries, law libraries, public libraries, private libraries and more.
COVERAGE AVAILABILITY: AL, AR, CA, CO, CT, IN, IA, LA, ME, MA, MN, MS, NH, NJ, NM, NY, NC, PA, RI, SD, TX, UT, VA, WV, WI and WY.
CONTACT: Domenic Antinucci, program manager, MemorialPro and ByTheCover; 800-645-5820 ext. 106.
Will Jones is IA editor-in-chief.
