 |
|
                |
|
Insurance for 2008-2009 – Please Read Carefully
As of the Maryland (MD) PTA fall convention in November 2007, all PTAs are required to have general liability, bonding, and directors and officers liability insurance as negotiated by MD PTA Maryland PTA Bylaws, Article VII, Section 7:
All local PTAs shall have, at a minimum, bonding, liability, and directors and officers insurance through the Maryland PTA negotiated policy, a due date no later than October 1, 2008 as the date the state will cover existing local policies.
These provisions include the benefit of (1) consistency in that all PTAs are covered by the same policy with the same insurance company and (2) a group rate that reduces the cost to individual PTAs.
Recently, the MD PTA Board of Directors met and reviewed competitive bids from several insurance companies, including RV Nuccio and AIM. At that time, the Board selected Union Banc Insurance Services, Inc. as the insurance broker for Maryland PTA. Union Banc writes insurance for California and Connecticut PTAs. The agreement with Union Banc includes training at workshops and communication with the locals by e-mail.
Union Banc publishes an insurance summary and loss prevention guide. It refers to Red Light, Yellow Light and Green Light activities. Red Light activities are prohibited. Yellow Light refers to activities where certain conditions must be met and the local PTA must consult with the insurance broker in advance of engaging in any of those activities. Green Light activities are approved.
The Union Banc annual premium is $166 for each local PTA, a significant savings from the current Nuccio policy. Union Banc is offering a bridge prepayment alternative to Maryland PTAs whose current coverage is due to renew in May 2008. Union Banc will write a policy that extends from May 1, 2008-October 1, 2009 (17 months and a savings of $22) for a fee of $225.
So, EACH LOCAL PTA MUST PAY ITS INSURANCE PREMIUM TO MARYLAND PTA AS SOON AS POSSIBLE. If your policy is expiring on May 1st, payment is due by April 15th. If your policy is expiring after July 1st, payment is due by June 1st. Enclosed is the application to fill out and attach with payment to Maryland PTA. Maryland PTA will transmit the funds to Union Banc in time for the insurance coverage to begin on May 1 or July 1; an insurance summary and certificate of insurance will then be issued to each insured PTA.
Contact Teresa Willis, Office Administrator, at officeadministrator@mdpta.org or 410-760-6221 with questions regarding premium payments. Loss Control Guide Book-2008 Maryland
|