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Thread: A slap to Bravest

  1. #1
    Registered User SeaBreeze's Avatar
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    A slap to Bravest

    A slap to Bravest

    Citing 'risk,' insurer drops fire union

    By MICHELE McPHEE
    DAILY NEWS POLICE BUREAU CHIEF

    The Uniformed Firefighters Association has been dropped by its insurance company - the Fireman's Fund, whose logo is a fire helmet - because it does not want to insure buildings in Manhattan.

    The Fireman's Fund, which has insured the 23rd St. building that houses UFA headquarters, refused to continue providing coverage for the building or union officials' cars, saying "Manhattan is too much of a risk," union officials said yesterday.

    In a notice of nonrenewal sent to the UFA, the Fireman's Fund explained that it was dumping the account "due to the increase in hazards and exposures to loss," said Joe Miccio, recording secretary for the UFA.

    "Isn't it sad that the Fireman's Fund would cancel the insurance policy for the largest firefighters union in the world?" Miccio said.

    "The company's motto is stick with us, but when the union needed them the most, they turned their back on us."

    'It's outrageous'

    In addition to the Firefighter Daniel DeFranco building, which houses the UFA, the Fireman's Fund - a division of Allianz Group - covers union members' cars, said Ken Hehir, the UFA's insurance agent.

    "This company uses a symbol that reflects heroism, but they are doing the opposite, they are running," Hehir said. "I think it's outrageous."

    According to the company's Web site, the Fireman's Fund Insurance Co. got its name from an arrangement made in 1863, when the company paid 10% of its profits to widows and orphans of firefighters.

    "Although that arrangement was later dissolved, the name endured," the Web site reads.

    Calls to the company were not returned yesterday.




    http://www.nydailynews.com/news/loca...8p-10379c.html

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    Thumbs down�����������������������������������������������������������������������������������������

    Speaking as an insurance industry worker, I'm a bit gobsmacked by this company's decision. Okay, I can see their argument that Manhattan might be considered a high-risk area now, but many insurance companies around the world have incorporated clauses into their policies specifically excluding loss or damage resulting from terrorism attacks - not to mention increasing premiums. I can only wish the UFA luck in finding a new underwriter.

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    Thumbs down�����������������������������������������������������������������������������������������

    I left a short curt statement at their "contact us" page on their website. The auto reply promised a prompt reply which hasnt come in- wonder if it will

  4. #4
    Registered User SeaBreeze's Avatar
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    Fireman's Fund boots fire union

    Fireman's Fund boots fire union

    Insurance company says it won't renew policy


    Thursday, August 15, 2002

    By KATHERINE ROTH
    ASSOCIATED PRESS


    Fireman's Fund, the insurance company famous for its fire hat logo, and which has long insured the union for New York City's Bravest, is opting out.

    "It's hard to believe that the company called Fireman's, with the fire hat logo, is throwing out the firefighters' union, but it's true," said Ken Hehir, the union's independent insurance agent.

    The Uniformed Firefighters Association received a nonrenewal notice from the Fireman's Fund Insurance Co. yesterday, he said. The policy expires in November.

    Company spokeswoman Mia Benedict said the UFA was part of a group of unions with a joint insurance policy that no longer met Fireman's Fund's underwriting standards. She did not elaborate.

    "Our understanding is that they think Manhattan's too great of a risk and they don't want to insure labor unions anymore," union spokesman Tom Butler said.

    Benedict said the company could no longer insure some Manhattan clients because of the unpredictable risk of terrorist attacks, but she called Butler's characterization incorrect.

    "We do not find Manhattan to be too great of a risk," she said. "We do want to insure both Manhattan and unions."

    Hehir said that the company, based in Novato, Calif., tried to pull out of the UFA in November but that he had told Fireman's Fund officials it was too soon after the Sept. 11 attack on the World Trade Center, in which 343 firefighters were killed.

    "I said, 'These people are going to 10 funerals a day and they have enough to worry about now without having their insurance removed,'" Hehir said.

    He said a number of insurance companies had begun dropping policyholders in Manhattan or restricting the size of insurance policies in the city in the wake of the terrorist attack, which destroyed the twin towers and killed more than 2,800 people.

    ------

    On the Net:

    Fireman's Fund Insurance Co.: http://www.firemansfund.com/



    http://www.silive.com/news/advance/i...2237895517.xml

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    This is the reply I got from my inquiry:

    Dear Chris Seminara,

    Thank you for taking the time to contact us regarding this matter.

    We would like to clarify the information recently released regarding the notice of non-renewal of the Uniformed Firefighters Association of Greater New York Local #94. The policy covers property and casualty insurance, including a union hall, 11 automobiles and 20 service staff it does not cover firefighters.

    In 2001, Fireman's Fund began a financial turnaround that included redirecting its marketing focus toward specific industries and market groups. We have been exiting accounts that do not fit ourappetite over the last 18 months and have worked with ouragents to provide substantial notice so that they can find replacementcoverages.

    Under normal circumstances, Fireman's Fund would have non-renewed the Uniformed Firefighters of Greater New York in November of 2001. With the terrorist attack of September 11th, the Company decided that out of respect it was appropriate to delay this action for one year. Fireman's Fund requested that the insurance agent find replacement coverage over the next 13 months.

    As late as Wednesday, August 14th we contacted the insurance agent to make sure he had a replacement insurer. We are always willing to consider extending coverage if the agent is having difficulty placing the account. If coverage has not been found for the Uniform Firefighters Association of Greater New York Local #94, we will provide the appropriate extension of coverage.


    Best regards,

    Michael Hammond
    Corporate Consumer Affairs
    Fireman's Fund Insurance Company

  6. #6
    Administrator Brian's Avatar
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    I still find it interesting with their name.

    They started out with the 'fireman' name because they gave some proceeds to FD. Then they slowly phased that out. But, the name stays.


    Does that mean that Fallen Brothers can slowly phase out the charity giving and become a for-profit business? and keep the name? How offensive.


    [note: I'm only going by what was reported, as I did not do research on the fund]
    Brian Shea
    Co-Director of Fallen Brothers Foundation
    (foundation charity dissolved 2006)

  7. #7
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    That thought is right on Brian-- talk about misleading advertising/branding. I might just send them anothr inquiry. I look forward to the reply.

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    Yeah, I agree - would like to see their response. It's a bit much calling themselves Firemans Fund or whatever and then declining renewal for the UFA, whatever their reasons may be. They should consider changing the name.

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