On Jun 19, 12:36=A0pm, hickory9...@[EMAIL PROTECTED]
wrote:
> I got an insurance quote for a small 2,000$ show..........
> $25,000 ...... Oh Brother...... The show will Not go on....The fire
> chief in the town has no problem with the fireworks show but need an
> insurance policy..... =A0 Any idea what to do ? The show was a money was
> no problem but this just be came a problem! =A0I thougt I could insure
> (sp?) for an additional $2,000 .... WRONG =A0 Don
This is the polite way that an insurance company tells you that they
are not interested in getting your business. It means that you have to
look for insurance elsewhere.
Both Lloyd and Fireball have given you some pretty good advice.
I can tell you how insurance worked when I was in the display business
some years back. Firstly, the insurer will look at you past casualty
experience for roughly the past 3 years. Next, they will ask you the
number of displays that you plan to put on during the current year,
then have you purchase a blanket policy to cover the entire season,
which you pay in advance. On each display that you shoot they issure
a certificate of coverage as required to obtain the display permit in
most states, Depending on the cost of the display, you will have a
corresponding percentage deducted from the amount that you have
already prepaid for the entire seasion. This is done for every display
that you are contracted to fire.
As I believe both Lloyd and Fireball have pointed out, only
specialized firms devoted to high risk events offer this kind of
insurance coverage. My insurance was purchased from National
Indemnity, a firm that usually specializes in insuring blasters, coal
mines, and other high risk type exposure. In certain rare situations,
we were required to have very high coverage limits, say in the
millions of dollar, and our insurance suppier would normally handle
this by subcracting the coverage out to Lloyds of London and sending
me the bill! ;-)
About the only way you will likely find insurance coverage for a 1-
time fireworks event is by purchasing it along with the fireworks from
a packaged show supplier. That way, the insurance firm spreads it's
liability exposure over many displays, and it's still expensive
because they realize that many of these displays will be fired by
relative amateurs.
Either Fireball or Lloyd can likely tell you what the going insurance
rates for public fireworks display are. My last policy was close to
20 years ago, and at that time the per show premium was roughly 15% of
the total display selling price, based on a previous history of 20
years of accident and liability free displays. On the front end, I had
to fork out something around $4,000. At the end of the season, the
insurer would either refund the unused premiums, or bill me for the
balance owed.
Insurance companys are all about making money, just like bookmakers.
Actually, the statistical techniques employed in both businesses are
quite similar. You can pretty much take it from there.
Good luck.
Harry C.
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