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Property and Casualty Insurance
Municipal electric systems nationwide may purchase property and casualty insurance with utility-specific coverages and at competitive prices as the result of a partnership between Hometown Connections and Distributors Insurance Company (DIC), a wholly-owned subsidiary of the Tennessee Valley Public Power Association.
Utility-Specific Insurance Coverage and Premium Savings
The Public Power/Distributors Insurance Program offers property-casualty insurance coverage that is flexible and tailored for municipal systems. Coverages include commercial general liability, workers’ compensation, auto, 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 municipal electric utility industry exclusively. Available programs include tailored coverage limits, special risk coverages, and consulting services that other insurance companies often overlook or refuse to offer. The benefits of the program include reduced insurance cost through market leverage, pricing based on individual loss experience, availability through local independent agents, and greater control over claims handling and settlements.
Since its founding in 1983, DIC has stood by TVPPA members, offering comprehensive coverage at competitive rates while the traditional insurance market at times abandoned the Valley’s public power utilities. Through the alliance with Hometown Connections, this same superior level of service and custom insurance design is available to public power systems across the U.S.
The primary advantage of public power having its own insurance company is availability, regardless of market conditions, at competitive premiums. Not subject to the restrictions of traditional market cycles, DIC will not abandon an APPA member utility.
DIC provides high quality, consistency, and economy in commercial insurance services and risk management products.
DIC is a strong financial services company. It 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. A highly respected independent CPA firm conducts an annual financial audit of DIC, based on GAAP accounting procedures.
Daily company operations and service coordination are the contractual responsibility of a major U.S. insurance brokerage and management firm. The firm manages DIC claims handling activities, which are also monitored by a Claims Committee made up of managers from DIC insured utilities.
Product Features and Benefits for Public Power
Insurance provided through DIC
--Workers' Compensation
--General Liability
--Automobile Liability and Physical Damage
--Umbrella Liability
--Property and Equipment Breakdown
--Public Officials and Employees/Directors & Officers Liability
--Employment Practices Liability
--Fiduciary Liability
--Comprehensive Crime
--Professional Liability
--Bonds
Exclusive benefits for municipal utilities
--Reduced overall insurance cost through market leverage brought about by economies of scale
--Pricing based on individual loss experience
--Availability via local independent agents
--Broad form, custom-tailored liability coverage
--Flexibility in coverage, deductibles, and policy design
--Greater control over claims handling and settlements
Ability to Insure Other Exposures
--Water/Wastewater
--Gas
--Cable
--Telecom
--Internet
Workers’ Compensation insureds are eligible to participate in DIC’s unique Shared Cost Safety Incentive program, which has returned an average of over $85,000 annually to successful participants.
APPA Members on DIC
"Not only have we been able to save money, but more importantly, we’ve obtained coverages that were very difficult, if not impossible, to find.”
--Tom Wheeler, General Manager, Cleveland Utilities, TN
“DIC wrote insurance for us when no one else would, and the coverages were more extensive than anything else we ever had. DIC is managed by professionals who demonstrate an uncommon interest in quality service.”
--John Burt, Manager, Philadelphia Utilities, MS
Contact Us
For more information on the national public power property and casualty insurance program, contact your Hometown Connections representative.
Visit the DIC Web site for more details.
• Distributors Insurance Company
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