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Posted on 17 Sep 08
Storefront owner Venture Insurance Programs,a national program administrator and leader in the design and underwriting of select industry-focused insurance packages, today announced that it has launched the SuiteLife™ program as an all-lines solution for resort properties.
SuiteLife combines the expertise of the Preferred Club Program® – one the industry’s largest programs for golf and country clubs – and the Venture Hospitality program, which has written hotels and resorts since 1998. SuiteLife initially is targeting golf destination resorts and private resort communities designed to attract the business conference trade, sports enthusiast (golf, tennis, fitness, etc.), and the adult leisure market.
Multiple A to A++ carriers will provide primary, excess property and umbrella capacity to the program, including, but not limited to The Chubb Group of Companies and OneBeacon Insurance. SuiteLife is available in all states.
“Because Venture Insurance Programs has collaborated exclusively with premier carriers to serve the insurance needs of the hospitality industry since 1994, agents and brokers consider us the hospitality, golf and leisure experts” said Joseph Dolce, Venture’s executive vice president of national accounts. “We’re pleased to use this expertise and experience to develop and offer one of the most comprehensive insurance programs for destination resorts.”
SuiteLife features customized coverages related to exposures of destination resort risks, including: Commercial Property, including outdoor property, with limits up to $100 million per location, Umbrella coverage with limits up to $50 million, and General Liability available as mono-line coverage. Additional coverage includes Crime; Innkeeper’s Liability; Liquor Liability; Commercial Inland Marine; Commercial Automobile; Professional Liability; Herbicide/Pesticide/Pollution; Boiler & Machinery; Electronic Data Processing; and Workers’ Compensation.
In addition, Venture offers in-house capabilities to handle CAT property typical of many resorts through its new Specialty Property unit. This program specializes in the production and management of a Property and Inland Marine book of business, with a primary focus on Coastal Property.
Risk management oversight for SuiteLife will be provided through IRISK Solutions, LLC, an independent risk management firm that applies an enterprise risk management (ERM) approach and tools to a company’s risk control efforts.
For more information, visit their storefront at www.programbusiness.com.
About Venture Programs
Venture Insurance Programs is a leading program administrator that designs, underwrites and distributes industry-specific insurance packages. Based in West Chester, Pa., Venture has underwriting alliances with the world’s leading carrier groups, including Chubb, Fireman’s Fund, The Hartford, Hiscox, OneBeacon, RSUI, USLI and Zurich North America. Founded in 1993, Venture provides specialty insurance packages for select vertical industries—including golf and country clubs, resorts, technology and life science companies, marine risks, military housing and professional liability.
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