insurance

Jim Lundquist · **Posted:** Thu Jan 30, 2003 2:44 am

Hi folks:

can anyone give me directions/suggestions regarding insurance for:

train operartions liability
workers on the railroad
officers and directors

Is info available/policies available thru ARM or TRAIN? Does someone have a broker with GREAT connections? It's time to shop our policies and I would love other quotes.

Thank you.

Pacific Southwest Rly Museum
jim@sdrm.org

Brian Norden · **Posted:** Thu Jan 30, 2003 4:05 am

> Hi folks:

> can anyone give me directions/suggestions
> regarding insurance for:

> train operartions liability
> workers on the railroad
> officers and directors

> Is info available/policies available thru
> ARM or TRAIN? Does someone have a broker
> with GREAT connections? It's time to shop
> our policies and I would love other quotes.

> Thank you.

Jim,

It is tough times right now and it may not get better for a few years.

There are two insurance firms (brokers) that show up at the ARM and TRAIN conventions. At this time I cannot recall the names of both of them.

But I am personally aware of one of them. He is Mike Deeble of HMBD Insurance who markets as "Railroad and Trolley Insurance" See his website:
http://www.trainweb.com/railroadtrolleyins/

Mike is a member of OERM and has handled our insurance for a number of years. But even that is not helpful in today's market.

Our D&O insurance went up about 20%. But our liability insurance had to be placed with the one remaining firm that is writing museums and tourist railway insurance; the cost more than doubled!

Brian Norden

bnorden49@earthlink.net

Linn W. Moedinger · **Posted:** Thu Jan 30, 2003 7:16 am

Another agent I can recommend is Bob McCarthy. rmccar@penn.com

linnwm@supernet.com

L Beckman · **Posted:** Thu Jan 30, 2003 10:13 am

> Another agent I can recommend is Bob
> McCarthy. rmccar@penn.com

Jim: If you haven't read it, check out the 1/15//03 editorial by Bob McCarthy on this website. All rail museums are biting the bullet!

midlandblb@cs.com

BobK · **Posted:** Thu Jan 30, 2003 11:23 am

I would suggest that each one of your officers and or directors take out a separate liability rider on their home owners policy for one million.
These can be had for a couple hundred dollars a year.

Mike Deeble is in Long beach CA and has good experience writing policies for train related needs.

Mike Deeble
in Long Beach CA
562 439 9731

Superheater · **Posted:** Thu Jan 30, 2003 8:05 pm

> I would suggest that each one of your
> officers and or directors take out a
> separate liability rider on their home
> owners policy for one million.
> These can be had for a couple hundred
> dollars a year.

> Mike Deeble is in Long beach CA and has good
> experience writing policies for train
> related needs.

> Thats a very good idea. Whether or not you serve on a board, its money well spent. I became aware of a case in my area where an adept financial advisor recommended the purchase of this insurance by clients. When one guest's dog bit another guest's child in the face at a party, they found out that they were protected from a multihundred thousand dollar lawsuit.

However, if you are organized as a non-profit, and you have people who don't have homeowner's insurance, you might want to get D&O.

As a general rule, its often handled by alien (outside the U.S.) companies. If you aren't looking for mega limits, your organized as a 501c3 and your state is a "volunteer immunity" state-it can be quite reasonable.

Superheater@rrmail.com

Jim Lundquist · **Posted:** Sat Feb 01, 2003 3:12 pm

I'll be in contact with these people.

Jim

Pacific Southwest Rly Museum
jim@sdrm.org