Rotary Club of Trail Treasurer's Report
29-May-2006

The following e-mail correspondence describes Rotary district insurance that will cost each club $17.86 per member. This insurance will be effective starting 8-July-2006. Read appended correspondence for details


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From: sandrabill@cyberlink.bc.ca [mailto:sandrabill@cyberlink.bc.ca]
Sent: Wednesday, May 24, 2006 1:58 PM
To: leigh.harrison@trailrotary.com
Subject: Exciting News RE: Canadian Club Insurance

To: Leigh Harrison, Trail

Hello to you all,

We have some very exciting news regarding the District Insurance Coverage for Canadian Clubs. Due to the number of recent enquires regarding insurance rates and liability issues, Zone 22 (Canada) Director, John Eberhard established an Insurance Committee to find us the best deal. And find a good deal they did.

They have arranged with ING NOVEX to provide both General Liability Insurance as well as Director's & Officers Liability Insurance. Along with some discounted rates overall, through this process clubs will pay approximately 33% of the cost of D & O insurance compared to purchasing the same coverage on an individual club basis.

Our plan will be in effect July 8th, 2006. Each club will be billed $17.86 per member along with the District dues in July.

Clubs that currently carry Directors & Officer's Liability Insurance can cancel that plan (and their budget line item)as there will now be a blanket coverage.

The cost of $17.86 (CDN) per member includes the following benefits:

5,000,000.00 Commercial General Liability (Occurrence) including Liquor Liability Extension
$10,000,000.00 Commercial General Liability (Aggregate)
$100,000.00 Legal Expense
$2,000,000.00 Directors & Officers (Aggregate - Claims Made0
$30,000.00 Crime
$10,000.00 Miscellaneous Property Floater (Contents) Should additional coverage be required for contents over and above the included limit of $10,000.00 per club; the additional charge is .35/100 of value.

As you can see this is a vast improvement over the coverage that has been provided for the past three years which was quite minimal and, in my opinion, not as comprehensive as we should have had.

Working together with districts across the country has resulted in this plan development that provides the coverage we all need for an excellent rate.

DGE Tom and I are happy to be able to announce this new program and hope that you will all appreciate the benefits it provides our Canadian Clubs.

Thank you for everything that you do for Rotary!

DG Sandra