Division VI

[Roger]

Division VI Sailors

We wanted to let everyone know what has been going on with Division VI and the insurance issue. The cancellation of Ides of March was a direct result of that issue. The good news is that insurance is in place and the entire Division VI sailing schedule is a go moving forward. 

In previous years the insurance company we use was able to provide coverage for about $830 a year. We enjoyed years of stable premiums without any increase in cost. The underwriter we were using got out of the game this year which left us searching for a new provider. 

During our research we found that the only provider for this type of insurance is through the Burgee program (CHUBB) and US Sailing. It took forever for the underwriters to come back with a quote for our insurance. We expected a rate increase but were not expecting it to come back at a 355% increase over what we paid last year. The new quote with the required US Sailing membership comes to $2950 a year vs. $830.

Division VI pays the insurance at the beginning of each year and the host clubs send in regatta fees to "reimburse" Division VI and pay for the following years insurance. This left a deficit in funds at Division VI for the increased cost on this year's premium.  Fortunately, two of the host clubs had the funds to cover the deficit and get the insurance in place so we can continue our sailing events. We certainly did not want anymore cancellations.

Here is where we need everyone's help. We need to make up the deficit and try to curb the cost of insurance going forward. We would like to ask for your help in fundraising. If everyone will help with raising funds we can solidify Division VI and secure our ability to produce regattas going forward. 

Donations can be sent directly to Division VI. If you locate a donor or corporate sponsor that wants a tax deductible donation, those can be made through TCDYC which is a registered 501(c)3.

Obviously we are open to any suggestions that the members may have as well. Please direct all responses to the Division VI google group.If you're not a member of the group, it's easy to join.

divis...@googlegroups.com

The Division VI Officers.

[Roger]

  Good morning Charlie

Anyone looking for a tax deductible donation needs to include their email so that I can send out the tax deductible donation letter.

Email is offi...@tcdyc.org

The mailing address is

TCDYC

12836 Short Palm Dr

Texas City, TX 7756

Thank you

Roger

On Tue, Apr 6, 2021 at 8:59 AM Charlie P Mayer <charli...@gmail.com> wrote:

Thank you for the update.  

Please send info on TCDYC donation details.

Charlie 

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[M Biscotto]

Hi Roger,

Sorry if this otherwise common knowledge, but what does this insurance cover?  

I may be mistaken, but aren't sailors expected to carry personal property and liability insurance for their boats and crew? 

If so, what additional benefit does this fleet insurance provide?

Regards, 

Mark

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[Galway, Shannon]

I just spoke with my old agent at The David Agency in Chicago about the Regatta Policy.  Since Regatta dissolved, they are moving everyone to a different policy that starts at around $1200/yr.  Requirements are that you be a 501c3 and be a US sailing member.

 

The policy is necessary to cover a participant, spectator, random person on the beach, municipality, or any other group attempting to sue the organizers.

 

Thanks,

 

Shannon Galway, P.E.

VP of Technical Services

 

Friede & Goldman, Ltd.

3151 Briarpark Dr., Suite 800

Houston, Texas 77042

713-952-3444

s.ga...@fng.com

 

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[Roger Howard]

Mark, 

This is the general liability insurance that every business carries including yacht clubs. The issue with yacht clubs is that there is only one company willing to underwrite sailing. 

Yes, boat owners are required to carry liability insurance to cover themselves and their boat. (i.e. you hit another boat)

This insurance covers Division VI not individual boats. Without this insurance the clubs are not covered in any form.

Does this answer your question?

Roger

[Galway, Shannon]

I should add that it is the Burgee program you mention, but she seemed convinced it wouldn’t be $3000.  Some where around half that.

To view this discussion on the web visit https://groups.google.com/d/msgid/tcdyc/F442B15C-E1F3-4217-9A7B-E6334CC2F4F2%40fng.com.

[Roger Howard]

Shannon,

I also spoke to my agent here in Clear Lake. The minimum premium for coverage as stated by Chubb is $1200. However once you actually complte an application they send back a quote.

It must be a non profit, not necessarily a 501(c)3. 

We are going to try and get a better rate next year but if we had not put the insurance in place when we did, Hill Country would have been cancelled due to the time it would take to go through a different agent. We made the decision to get insurance in place so racing could resume. We hope to get it cheaper next year, nut there is no guarantee. 

[M Biscotto]

thanks Roger.

To view this discussion on the web visit https://groups.google.com/d/msgid/tcdyc/9965aba1-fad2-4dac-bf70-1908b1694290n%40googlegroups.com.