The board of LIBRIS, the American Booksellers Association’s captive insurance subsidiary, voted recently to change its relationship with the company’s underwriter. LIBRIS was created by ABA to provide business insurance coverage uniquely designed for independent bookstores.
Great American Insurance Company, a top-rated insurance company and currently a risk-sharing partner with LIBRIS, will become the sole underwriter for LIBRIS policies as of January 1, 2018. This change will cause no disruption to bookstore policyholders, will have no effect on existing policies, and will ensure the long-term health of the program by strengthening the underwriting insurance company. Importantly, ABA will maintain an interest in the LIBRIS program and will ensure that LIBRIS maintains its focus on the needs of independent booksellers.
“We will continue to ensure that our members are aware of the benefits of a LIBRIS insurance policy, and we will continue to advocate for the claims of our policyholders. ABA is excited about this new direction, which will strengthen the program,” said ABA Chief Financial Officer Robyn DesHotel.
Whitney Balaun and Judi Yacovazzi, who provide quotes and handle claim inquiries for LIBRIS, will remain primary customer contacts. Both will be at the Consultation Station at the upcoming Winter Institute, where they will be available to discuss booksellers’ insurance needs.
The LIBRIS policy offering will continue to be generous, with enhanced coverages such as the following:
- Accounts receivable
- Backup of sewers and drains
- Business income and extra expense on an actual loss sustained basis for up to 12 consecutive months
- Employee dishonesty limits (higher than a typical carrier)
- Additional insureds for visiting authors
Any questions about LIBRIS coverage can be addressed to Whitney Balaun at (888) 694-8585 or email@example.com.