A VISITOR; AN INSURANCE TALE

A Visitor

Most of our readers are familiar with items placed before them on this BLOG. Perhaps, you would be surprised to learn that I just had a visitor, complaining of my criticism of the poor judgment of the Operations Committee in coping with the insurance “Tsunami” spoken about at the Delegate Assembly.

“Let’s be fair”, said the speaker, who criticized, at the Delegate Assembly, the much higher deductible for this Village, and other three Villages as well. He attempted to clearly lay all blame exclusively at the feet of WPRF. Admittedly, WPRF has some responsibility for the 8 1/2% deductible Zurich required. But being fair, what is their motivation to advocate when ALL DECISIONS rest solely with THE OPERATIONS COMMITTEE, a UCO Committee? WPRF does not collect one additional red cent, challenging rates for Residents of this Village even when our leadership has called them “THIEVES”. The millennium Agreement squarely places all responsibility at the feet of the Operations Committee to approve all expenditures for the fiscal year, prior to implementation! To be clear, the Operations team did nothing but APPROVE this contract and FAIL to PROVIDE THE SAFETY NET that would have reduced the deductible by 1,400,000.00, while they attempted to find a better solution. Unfortunately, their responses came in DECEMBER, well after the OPERATIONS COMMITTEE GAMBLED WITH OUR RISK. We were lucky no storms hit during this enormous exposure to the “tsunami”, about which my visitor complained. DO WE WANT GAMBLERS MANAGING OUR 10 MILLION DOLLAR BUDGET FOR WPRF ANY MORE? WPRF tried to reduce this enormous exposure, but the OPERATIONS COMMITTEE FAILED TO ACT ON IT! My visitor just could not understand this point.

I did learn that the policy for which we pay 683,669.00 for $ 1,000,000.00 coverage has an aggregate of $ 2,000,000.00. I interpret, that to mean our limit is that amount (not unlimited claims for $ 1,000,000.00). Even this cost is prorated to each of the four Villages, so our share is $ 194,000.00. I have communicated with WPRP directly and obtained the explanation. It was reported, at the Delegate Assembly, to be $ 1,000,000.00 coverage only, however when the limit of
$ 2,000,000.00 would be exhausted the $ 30,000,000.00 Umbrella Policy would then cover any claims up to $ 30,000,000.00. This proves the coverage to be more than adequate. It certainly clears up the concern of inadequate coverage as we were informed at the Delegate Assembly!

How do you feel on these issues? Let the U C O Operations Committee KNOW you views!

VOTE your view on March 7, 2008