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Comprehensive Guide to Municipal Insurance: Coverages, Limits, & Pitfalls

Understand municipal insurance programs, coverage allocations, premium breakdowns, and common pitfalls to avoid. Learn about property limits, exclusions, and liability concerns. Get expert advice on essential coverage like builders risk, employee theft, and mold. Ensure your town's protection is robust and efficient.

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Comprehensive Guide to Municipal Insurance: Coverages, Limits, & Pitfalls

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  1. Syllabus • Town Ins. Programs • Coverages & Limits • Where Premium Dollars are Spent • Limits, Exclusions & other Pitfalls to Avoid Composition Municipal Insurance 101 Robert Bambino NY Municipal Insurance Reciprocal

  2. I. ‘Typical’ Town Property & Casualty Insurance Program

  3. ‘Typical’ Town Property & Casualty Insurance Programs

  4. II. Coverages & Limits

  5. Coverages and Limits

  6. Other Coverages

  7. III. Allocation of Premium Dollars: Mid-Size Town

  8. 2005 Premium Projections

  9. Breakdown of Incurred Losses: Where are the Loss Dollars Going?

  10. IV. Limits, Exclusions & Other Pitfalls to Avoid: Property

  11. Limits, Exclusions & Other Pitfalls to Avoid:General Liability

  12. Limits, Exclusions & Other Pitfalls to AvoidPublic Officials

  13. Frequently Asked Questions Q: Do I need a Builders Risk Policy? A: Yes, for large renovations and new construction – unless the Gen. Contractor provides it Q: What should the limits be for my employee theft coverage? A: Difficult to determine. You can use: MPL x [ f ] f = efficiency of fraud control methods. Limits may not be available! Q: Do I have coverage for skateboard parks, pools and snowmobile trails? A: Generally – yes, but you should contact your broker or insurer – might be an additional premium

  14. Frequently Asked Questions Q: Do we need to purchase mold coverage? A: Maybe – its something to check on. There may be coverage under the GL policy; the Property policy only covers if it is a result of a covered loss. Q: Which motor vehicles should I cover with Auto Physical Damage insurance? A: Those vehicles you can’t afford to loose or replace.

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