Insurance Rates Rise

Meetings & Conventions: Newsline

Insurance Rates Rise Marsh Affinity Group Services of Chicago, the broker that handles discount insurance for Meeting Professionals International, changed its supplier, causing confusion as to whether members’ policies were being canceled and resulting in some planners having to pay higher premiums.

While Marsh assured policy holders they were still covered, higher premiums were reported by some members. Rod Abraham, president of Irmo, S.C.-based Alliance of Meeting Management Companies, said his premium more than doubled, from around $350 to roughly $800.

Planners are free to solicit other quotes, said Amy Mogg, MPI’s director of partnership marketing, adding that while premiums could rise, members should not expect to see their rates double.

Abraham said the quotes he had solicited were high, reflective of an insurance market still reeling from last year’s terrorist attacks. In all, he added, Marsh’s premiums are “probably not a bad price for the coverage.” Marsh did not return repeated calls for comments.

• MARTHA COOKE