A year ago, libraries at the Illinois Library Association unveiled an insurance pool as a way to use local tax dollars responsibly and provide libraries an alternative to better control costs and coverage options.
In order to provide a similar program for Michigan libraries, the MLA Board of Directors made the decision to explore these same options with an insurance broker that knows and understands libraries: Arthur J. Gallagher & Co. is the largest writer of libraries in the United States and is the approved insurance broker of the American Library Association.
MLA is conducting a member design study to provide an alternative to you for your insurance needs. By taking 10 minutes to complete the attached questionnaire, with your help we will have a better understanding of the potential to start a similar insurance pool in Michigan.
Please be assured that by completing the survey you are under no obligation to purchase or even consider the insurance. This survey is simply a way to provide Gallagher & Co. with the information they need to provide a rate quote to members. It will help those libraries who are indeed interested in reviewing information about the insurance.
Please take a moment to:
- Fill out the following short survey (downloadable word doc): MLA Insurance Design Study
- Request 5 years of loss history from your current agent or insurance carrier
Please complete and return the requested items to:
The Illinois Library pool has been well received and very successful, here is what Illinois Libraries have to say about their program:
"Like many libraries, our rates have been going up each year, even with no claims. We have seen significant savings by joining the LIRA pool."
- Jeannie Dilger, Library Director, La Grange Public Library
It is important to note that many Michigan libraries are covered under their municipality's insurance program. Although the program may afford coverage, the libraries are often subject to higher deductibles and retentions. As a part of the municipality's insurance program, libraries are also exposed to losses from a variety of exposures including claims related to Police and Fire departments. This can have a dramatic effect on premiums year after year, and cost the library additional premium they otherwise would not experience if they purchased insurance as a part of a library pool. This program is specifically focused on library exposures.
Feel free to contact MLA, Erika Morris or Marcus Henthorn with any questions.