In this episode of The Dive Locker Podcast you’ll learn about professional liability insurance for dive professionals and how to select the right policy for your needs.
Welcome To The Show!
Welcome to The Dive Locker Podcast, the podcast for dive professionals where we bring you the latest in diving industry resources that make you excellent at teaching techniques, risk management and dive business.
Hey everyone welcome to the show it’s great to be with you today. Okay so it’s that time of the year again when we must make decisions on our professional liability insurance. Some of us are on group policies, some of us are individual. Some of us need additional coverage for technical diving, freediving or even mermaiding – ugh I can’t believe that’s a thing. But the bottom line is that if you’re a divemaster or higher you need professional liability insurance to be in active supervisory and or teaching status.
But, insurance is not the easiest thing to navigate. There are a lot of factors at play and they very much depend on your specific needs. For instance, you might be an independent instructor who owns a bunch of rental equipment for your students to use. Or you’re the technical instructor at a dive center. Or you’re a divemaster on a boat, but now you’re also going to teach Discover Scuba courses for a resort. Everyone one of these examples has factors that change your professional liability insurance needs. And because of that you need to know how to pick your insurance.
So in this annual insurance episode I’m not going to tell you what program to go with. Instead, I’m going to teach you how to pick the program that is right for you. We’ll look at the three insurance programs of 2021 they are : Vicencia & Buckley HUB International, First Dive Insurance Owl Underwriting Agency, and Divers Alert Networks Risk Retention Group. First of all, I want to thank the top executives with these programs who have once again provided me with outstanding information about their programs. They are Brian Jondle Vice President of Vicencia & Buckley HUB International, Peter Meyer with First Dive Insurance Owl Underwriting Agency, and Shelli Wright Manager of Professional Programs of Divers Alert Networks Risk Retention Group. Thank you all for your assistance with this episode.
Items In This Episode
- Professional Liability Insurance Worksheet
- Why Do We Need Professional Liability Insurance?
- Agency Endorsements
- Insurance Ratings
- Premiums
- Liability Limits
- Annual Aggregate
- Claims Made Policy
- Prior Acts Coverage
- Changing Policies/Gaps
- Endorsements (Technical, Freediving, etc.)
- Bundling Policies/General Liability/Boat/Auto
- Exclusions
- How To Select and Bind Coverage
Episode Sponsor
If you find this show adds value to you as a dive pro and you’d like to help support the show, please consider supporting it on Patreon. It’s only $4 per month – that’s only $1 per episode. When you become a supporter of The Dive Locker you’ll get a shout out from me on the next episode after you join. You will also be listed on the Patrons of Dive Locker Podcast webpage. And you will receive 10% off any ScubaGuru Academy course at the Patron level, and 20% off at the Rockstar level. And of course my undying appreciation for helping support the show.
Thanks For Listening!
That’s it for today, everyone. Thank you so much for listening. Remember to subscribe to this podcast on iTunes, Google Play or Stitcher, that way you’ll be notified of new episodes as soon as they go live and please leave a rating. Items talked about in this episode can be found on the show notes Page at scubaguru.com . There you can also click the microphone and leave us a comment. Thanks again. We’ll see you in the next episode. Safe diving and take good care of my friends.
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