The American Booksellers Association has announced a near-record dividend for policyholders of its LIBRIS (League of Independent Book Retailer Insurance Services) insurance program. A dividend of three percent of a business' annual premium will be paid to participating ABA members at the end of February; non-ABA participants will receive a one percent dividend.
This year's dividend is the second highest to be distributed since 1999 and the sixth dividend issued since the LIBRIS program was developed by ABA and insurance brokerage firm Beecher Carlson in 1997.
"Once again, we're happy to be able to declare a dividend for our LIBRIS members," said ABA CEO Avin Mark Domnitz. "In partnership with Beecher Carlson, we've created an insurance program owned by ABA members and tailored to meet their specific needs."
"For 10 years, Beecher Carlson and ABA have strived to create and maintain a strong insurance program for bookstores that is profitable and stable," said Beecher Carlson Managing Director Richard Poling. "The success of the program can be measured in its high policyholder retention and solid track record of dividends."
LIBRIS offers independent bookstores business property, liability, and workers' compensation insurance, as well as coverage for property at book fairs and expositions, for cafs and restaurants, and Internet service protection (available to ABA members only.)