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May 7, 2009
Town of Middleborough, Mass., Municipal Gas & Electric Department Improves Property & Casualty Insurance Coverage and Costs
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| For More Information |
Walter McGrath
Hometown Connections
508-429-44841
wmcgrath@hometownconnections.com
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National Program Serves Public Power Utilities
EVERGREEN, Colo.— The Town of Middleborough, Mass., Gas & Electric Department has announced the purchase of property and casualty insurance with utility-specific coverage at competitive prices through the partnership between Distributors Insurance Company (DIC) and Hometown Connections, a utilities service subsidiary of the American Public Power Association (APPA). The Public Power/Distributors Insurance Program offers coverage that is tailored for municipal utility systems and includes commercial general liability, workers’ compensation, automobile, public officials, property and equipment breakdown insurance either through a utility’s independent local insurance agency of its choice or from DIC’s program manager on a direct basis.
The Public Power/DIC program serves the not-for-profit electric utility industry exclusively. Insurance programs may include tailored limits of liability, special risk coverages, deductibles, and individual consulting services that other insurers often overlook or refuse to offer. The benefits of the national public power program include reduced overall insurance costs through market leverage, pricing based on individual loss experience, availability through local independent agents, and greater control over claims handling and settlements.
After learning about the Public Power/DIC program, Middleborough G&E decided to find out if the program could offer a package superior to that of the previous provider for property and equipment breakdown insurance to cover utility buildings, contents, substations, and other assets. With the aid of personnel at Hometown Connections and DIC, the utility asked the underwriters at Affiliated FM Insurance Company to develop a comprehensive and cost-effective insurance program that would meet and exceed the coverage already in place for Middleborough G&E. According to General Manager John Granahan, “The Affiliated FM coverages, limits, deductibles, and premium are as good as or better than what the utility had in place previously. Affiliated FM, rated A+ XV by A.M. Best’s, is one of the industry’s premier property insurers and traces its roots back more than 150 years. As an added bonus, its headquarters is in neighboring Rhode Island.”
Tim Blodgett, President & CEO, Hometown Connections, said, “Middleborough G&E’s experience is typical of a growing number of public power utilities. As municipal officials learn about the Public Power/DIC program, they are discovering the value of leveraging the purchasing power of the APPA membership when negotiating favorable insurance rates and terms, as well as the benefits of selecting insurance providers that specialize in the municipal utility sector.”
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About Middleborough Gas & Electric Department, MA
The town of Middleborough formed its Gas and Electric Department in 1893 to supply customers in its downtown area. Today the Department serves 20,000 customers in over 100 square miles including Middleborough and Lakeville. Visit www.mgandeonline.com.
About Hometown Connections International, LLC, Evergreen, CO
Hometown Connections is a utility services subsidiary of the American Public Power Association (APPA). APPA is the national service organization for the nation's more than 2,000 community- and state-owned electric utilities serving 45 million customers. Hometown Connections supports APPA members by securing national group pricing and service arrangements from leading industry suppliers. Please visit www.hometownconnections.com.
About Distributors Insurance Company, Chattanooga, TN
DIC provides public utilities with flexible, customized property-casualty insurance coverage and risk management. DIC is regulated by and directly accountable to the Tennessee Department of Commerce and Insurance for its operations, financial solvency and ability to pay claims. The nation’s foremost actuarial consulting firm examines DIC’s premium rating and loss reserving methods annually. Visit www.distributors-insurance.com.
Visit these web sites for more information.
• Hometown Connections
• www.distributors-insurance.com
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