For most independent agents and brokers, the term “entertainment venues” suggests Carnegie Hall, Yankee Stadium, or any major movie theater chain. It’s not typically something they consider writing themselves, even if such a venue is located in their proverbial backyards.
Yet, opportunities to work with these highly diverse and enjoyable accounts are available even to main-street, generalist insurance agencies. And with programs for this business class continuing to expand, the timing for agents to jump into the market has never been better—even for a one-off account.
At K&K Insurance Group, underwriters have been working with venues accounts for more than 25 years, stemming off the group’s original foray into motor sports.
“We write everything from soup to nuts,” said Lita Mello, senior vice president of K&K’s recreation division. “Large football stadiums, baseball stadiums, arenas, performing arts theaters, sports complexes—any sort of entertainment facility.”
The program has been so successful, K&K recently expanded its offerings in the workers’ comp arena. In addition to property, general liability, inland marine, crime, commercial auto, liquor liability and excess liability, the group’s venues program now provides workers’ compensation through an AM Best A+-rated carrier.
"K&K has long been known as a leading provider of sports and entertainment insurance products,” Todd Bixler, CEO of K&K Insurance, said at the time. “This new offering enhances our ability to provide competitive specialty insurance products for venues and facilities across the U.S.”
The additional workers’ comp piece gives independent agents an edge, especially in competing for local accounts. Purchasing coverage from one carrier eliminates hassle and prevents blame-shifting down the road when a major claim is filed.
And for agents who don’t feel prepared to service these types of accounts, one message is clear: all that is required is a strong relationship with the insured and diligence in updating coverage when necessary.
Skilled underwriters do the rest.
