NU Online News Service, June 30, 2:25 p.m. EDT
With the 4th of July holiday weekend approaching, an agent's association survey finds millions of Americans plan to hold parties near the water, and the risk exposures can mean opportunities for agents who alert their clients to it.
According to a survey sponsored by Trusted Choice and the Independent Insurance Agents & Broker's of America, more than 32 million Americans plan to host parties or gatherings near water this summer (a pool, beach, boat, or lake for example). That is more than 32 percent of the close to 99 million households that plan to host a party or social gathering this summer, the survey said.
Robert Rusbuldt, president and chief executive officer of the IIABA, advised consumers to meet with their independent agent to assess their risk and ensure they are adequately prepared for summer exposures.
Dennis Hilton, owner and president of Cheney Insurance in Damariscotta, Maine, and a Trusted Choice agent, said this is a prime opportunity for agents to take advantage of communication with their clients about these exposures by reviewing insurance coverage and advising them of the increased liability exposures that come with serving alcohol, having people in the pool, outdoor grilling, and operating boats and jet skis.
"Many people don't think twice about getting in the pool, having some beers, getting on the boat, even engaging in some fireworks, but when people get hurt someone is going to be held responsible," observed Mr. Hilton.
At this time of year, he said his agency directly communicates with its clients and talks about personal umbrella coverage. He said the most effective way of communicating is by utilizing social media outlets such as blogs and e-mail blasts.
For agents who are not utilizing social media, they should, he noted.
"You are, number one, missing an opportunity to help your customer understand better the assumption of liability and the exposures they create for themselves. And you are missing the opportunity to sell more coverage to those who don't have a personal liability umbrella in place," said Mr. Hilton.
He acknowledged that doing this is a "double-edged sword because I feel like the guy throwing a wet blanket over the party, but that's the reality of what goes on today. You can't ignore it; you need to be aware of it."
He added, "During this holiday season, and others like it, agents need to remind their customers that fun is fun, but they need to be careful at the same time."
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