Nuts & Bolts: Philadelphia Insurance Companies announced the release of their newest product—Amateur Sports Facilities Program. This product joins a series of products designed for the sports and recreation market including fitness centers, martial arts schools, and bowling centers. It is designed specifically for Amateur Sports Facilities. The policy provides coverage for facilities where amateur and youth sport leagues or teams lease space for practice and games. Arenas are indoor facilities that will support basketball, volleyball, indoor soccer, indoor lacrosse and racquet sports. Stadiums include any outdoor facility, including practice fields, where football, baseball, soccer, and lacrosse are played.
Dollars: General Liability limits are available up to $2 million; umbrella liability limits of up to $10 million are available. Large in-house property capacity exists that allows the company to write virtually any amateur sports facility that meets underwriting standards. Interest-free installments are available for accounts that generate at least $5,000 in premium. No minimum premium. $1,000 is minimum retention.
Carrier: Philadelphia Insurance Cos. rated “A+” (superior) by A.M. Best.
States Available: All, except Louisiana.
Contact: (800) 873-4552 or phlysales@phlyinf.com
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