1. 1 PMI Insurance Overview Name of Presenter, 18pt Regular DD Month YYYY

2. 2 PMI Insurance Overview Agenda Program Overview Purpose of Insurance Policy Information General Liability Insurance Directors & Officers (D&O) Liability Insurance Event Checklist Form Liquor Liability Athletic Event Participation For Your Information…

3. 3 Program Overview PMI Finance & Legal Departments evaluate and examine exposure to risk annually. –Beneficial Insurance Company (Broker) works with PMI to identify the coverage needed for PMI chapters. Chapters must maintain liability insurance coverage –Stated in Chapter Charter Agreement PMI provides General Liability and Directors & Officers (D&O) Liability coverage –See Insurance Summary and FAQ for details regarding coverages. Current policies provide coverage through February 2015 PMI Insurance Overview

4. 4 Purpose of Insurance To protect the chapter, its board and its members from possible claims during chapter functions or in conducting chapter business. Not intended to subsidize the cost incurred from internal governance disputes. –i.e. Chapter vs. Chapter/Board Member In today’s market, insurance: –Is becoming more difficult to buy –Premiums are more expensive –Exclusions and restrictions are becoming more common PMI Insurance Overview

5. 5 Policy Information General Liability Liberty Mutual Insurance –Covers PMI Chapters in: The United States Puerto Rico Canada ACE American Insurance – Covers PMI International Chapters Director’s & Officer’s Liability Torus National Insurance – Covers all PMI Chapters – Coverage extends to: Board Members Volunteers Committee Members Branch Officers/Trustees – Does not include: Employee Dishonesty Embezzlement Other Illegal Actions PMI Insurance Overview

6. 6 General Liability Insurance General liability insurance cover chapters against: –Bodily Injury –Property Damage –Personal Injury –Advertising Injury –Fire Damage See Chapter Insurance Summary and FAQ for coverage details and examples. PMI Insurance Overview

7. 7 D&O Liability Insurance When working on behalf of the chapter, covers: –Chapter Board Members –Volunteers –Committee Members –Branch Officers/Trustees D&O coverage protects against: –Alleged Violations of Fiduciary Duties –Negligence –Personal Injury (i.e. slander, defamation, etc.) –Violation of antitrust and other federal and local laws. See Chapter Insurance Summary and FAQ for details PMI Insurance Overview

8. 8 Event Checklist Form Used by PMI and Insurance Broker to: –Internally track events and insurance/coverage requests –Ensure that events are adequately covered –Advise chapter leader/event planner –Process and distribute Certificates of Insurance Routine chapter events (i.e monthly meetings/dinners) do not require Event Checklist submissions. PMI Insurance Overview

9. 9 Liquor Liability Chapters are covered, as long as: –No chapter/board member or volunteer is serving alcohol –The chapter is not profiting from the sale of alcohol A third party vendor should ALWAYS be used when alcohol is being sold or distributed If the chapter is serving alcohol or profiting from the sale of alcohol, additional Liquor Liability Coverage must be purchased. PMI Insurance Overview

10. 10 Athletic Event Participation Participants in athletic events and contests (i.e. golf tournaments, tennis tournaments, etc.) are excluded from coverage. Participants should complete and sign Athletic Event Participation Waiver. –During pre-registration, on-site or registration pick-up. Chapter should keep these for their records. PMI Insurance Overview

11. 11 For Your Information… For specific questions, contact Anne Jenemann at PMI Global Operations Center. –anne.jenemann@pmi.organne.jenemann@pmi.org –(610) 356-4600, ext. 5035 Chapters are free to obtain insurance on their own, at their own expense –Please notify your chapter administrator so that it can be documented. PMI Insurance Overview

12. 12 Questions??? PMI Insurance Overview

13. 13 Thank You! PMI Insurance Overview