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

2. 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…
PMI Insurance Overview

3. Program Overview
PMI Finance & Legal Departments evaluate and examine exposure to risk annually.
CLA 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 FAQ’s and Insurance Summary for details regarding coverages.
Current policies provide coverage through February 2013
PMI Insurance Overview

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
Disputes of this kind that are submitted as claims under the Chapters’ insurance policy will increase the insurance premium cost, the retention amount, and even threaten the continued availability of this type of insurance for Chapters.  
PMI has introduced the Chapter Conflict Resolution/Mediation process to support chapters globally that are experiencing governance issues.  Chapters are required to utilize this process before filing complaints with PMI’s Ethics Review Committee or taking further action such a litigation to address governance issues. 
PMI Insurance Overview

5. Policy Information General Liability Ohio Casualty 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. 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. 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. 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. 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. 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. For Your Information…
For specific questions, contact Darryl Jackson at PMI Global Operations Center.
(610) , ext. 5065
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. Questions???
PMI Insurance Overview

13. Contact Number (Optional)
Thank You!
Name
Title/Chapter
Contact Number (Optional)
PMI Insurance Overview