Camp Insurance — A Peek at the Challenges Ahead!


Best Wire Services, 10-5-01, "Bermuda's insurers and reinsurers are preparing for a radically transformed marketplace in the wake of last month's terrorist attacks, with buyers choosing security over price, and insurers selecting their risks carefully and making certain they collect a premium for every peril."

We saw the camp insurance market hardening before September 11th. Now we are clearly seeing the market changing. This is not a buyer's market. The camp director is going to be faced with shrinking capacity, soaring rates, lower limits and tighter terms of coverage this year. Wise camp directors will NOT wait to evaluate their insurance program until just before renewal time. Some insurance programs that packaged together certain coverages may begin to "unbundle the covers." This could result in some coverage being difficult to find and, in other cases, cost more. We could also see insurers writing less. It will be of increasing importance for camp directors to demonstrate risk management awareness particularly as we are being forced to redefine camp safety. Call your insurer or broker today so you can identify how your camp program may be affected.

The National Insurance Committee has been monitoring this situation. It is anticipated an Insurance Roundtable with a number of insurance providers will be held so we can best anticipate the insurance environment and project how we might navigate the waters ahead.


Originally published in the 2001 Fall issue of The CampLine.