Hi all!
I volunteer with Bikerowave in Mar Vista (Los Angeles).
Unfortunately, our current insurance carrier decided not to renew our insurance policy citing the following reasons:
“The insured’s operations are no longer eligible within our program due to changes in our appetite. Our program requires the primary operations to involve the insured manufacturing bicycle components, assembly, or a bicycle store selling bicycles, renting them, etc. As this risk is offering space, tools, and assistance for customers to repair their own bicycles, it no longer fits”.
We have had no claims in recent years - maybe ever? - and they've been our carrier for quite a while.
We're working with an insurance broker to find new insurance, but does anyone have suggestions?
Thanks,
Alex
Alex,
While I am not a expert, this paragraph sounds really weird,
"The insured's operations are no longer eligible within our program due to changes in our appetite. Our program requires the primary operations to involve the insured manufacturing bicycle components, assembly, or a bicycle store selling bicycles, renting them, etc. As this risk is offering space, tools, and assistance for customers to repair their own bicycles, it no longer fits".
There is such a thing as risk appetite, but it applies to an organization, not the insurer. Even more weird because they are dropping you out of the blue, even though your organization has an excellent history with the insurer, all while they appear to be determining your organizations risk appetite. I think they are using subtle legalize to convince Bikerowave that they can't have insurance with them anymore. When in actuality, this is probably not the case at all. Your organization may want to talk to an attorney.
-Jonathan
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We use NIAC through CalNonprofits insurance Services ( https://calnonprofits.org/resources/insurance-risk).
You have to be located in California and pay a nominal yearly membership fee to CalNonprofits to gain access to NIAC but it's always been worth it to us. They have never had issue with our operations and are always willing to adjust our coverage for any other random stuff we do- parties, rides, mobile fixery, etc. You should be able to contact them directly for more info.
On Tue, Sep 27, 2022, 10:51 PM Jonathan Rosenbaum via Thethinktank < thethinktank@lists.bikecollectives.org> wrote:
Alex,
While I am not a expert, this paragraph sounds really weird,
"The insured's operations are no longer eligible within our program due to changes in our appetite. Our program requires the primary operations to involve the insured manufacturing bicycle components, assembly, or a bicycle store selling bicycles, renting them, etc. As this risk is offering space, tools, and assistance for customers to repair their own bicycles, it no longer fits".
There is such a thing as risk appetite, but it applies to an organization, not the insurer. Even more weird because they are dropping you out of the blue, even though your organization has an excellent history with the insurer, all while they appear to be determining your organizations risk appetite. I think they are using subtle legalize to convince Bikerowave that they can't have insurance with them anymore. When in actuality, this is probably not the case at all. Your organization may want to talk to an attorney.
-Jonathan
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Hello to All,
Bike Erie has always utilized American Specialt https://americanspecialty.com/y. We insure for slow rolls, our board of directors and bike repair.
Thank you to everyone for keeping this valuable information group going.
Eric Brozell
On Sep 28, 2022, at 2:17 AM, Shannon Southwood via Thethinktank thethinktank@lists.bikecollectives.org wrote:
We use NIAC through CalNonprofits insurance Services (https://calnonprofits.org/resources/insurance-risk https://calnonprofits.org/resources/insurance-risk).
You have to be located in California and pay a nominal yearly membership fee to CalNonprofits to gain access to NIAC but it's always been worth it to us. They have never had issue with our operations and are always willing to adjust our coverage for any other random stuff we do- parties, rides, mobile fixery, etc. You should be able to contact them directly for more info.
On Tue, Sep 27, 2022, 10:51 PM Jonathan Rosenbaum via Thethinktank <thethinktank@lists.bikecollectives.org mailto:thethinktank@lists.bikecollectives.org> wrote: Alex,
While I am not a expert, this paragraph sounds really weird,
"The insured's operations are no longer eligible within our program due to changes in our appetite. Our program requires the primary operations to involve the insured manufacturing bicycle components, assembly, or a bicycle store selling bicycles, renting them, etc. As this risk is offering space, tools, and assistance for customers to repair their own bicycles, it no longer fits".
There is such a thing as risk appetite, but it applies to an organization, not the insurer. Even more weird because they are dropping you out of the blue, even though your organization has an excellent history with the insurer, all while they appear to be determining your organizations risk appetite. I think they are using subtle legalize to convince Bikerowave that they can't have insurance with them anymore. When in actuality, this is probably not the case at all. Your organization may want to talk to an attorney.
-Jonathan
The ThinkTank mailing List
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-
Alexander Lazar -
eric＠bikeerie.org -
Jonathan Rosenbaum -
Shannon Southwood