A.M. Best A+ rated insurance company
$6M per occurrence limit
Loss control and risk management
Claims and loss reserve analysis
Automatic waiver of subrogation
Broad coverage for pyrotechnics
Employee benefits liability
Galas and fundraising activity
Liquor law liability
No cost for additional insureds
Off-campus performances and programs
Off-site readings, auditions and showcases
Participants and performers
Restaurants, concessions and gift shops
Sexual abuse and molestation
Studios and rehearsal spaces
Volunteers, apprentices and interns
Workshops and schools
Youth and community programs
Frequently Asked Questions
1. What is a Risk Purchasing Group (RPG)?
Risk Purchasing Group is a legal entity that allows a group of unassociated businesses with similar risk profiles to join together to take advantage of a joint insurance purchase. The program was established under the Federal Liability Risk Retention Act of 1986.
2. Is a Risk Purchasing Group an insurance company?
No, a Risk Purchasing Group is not an insurance company; it is a pool of like businesses that buy insurance as a group from an insurance company. There is no additional risk assumed. Further, it allows the group to gather purchasing strength to buy insurance at a significant cost savings with broadened coverage.
3. What are the 3 main reasons to join the DeWitt Stern Cultural Institution Risk Retention Group?
1. Immediate premium cost savings
2. Broad coverage at no additional cost
3. Expertise of the broker, DeWitt Stern
4. Will I have separate limits or do all members share in one aggregate limit?
Each member will have their own limit of liability for their risk, separate and distinct from the other members.
5. Why did DeWitt Stern form this RPG?
For many years, DeWitt Stern has specialized in insurance for the entertainment industry. Nonprofit performing arts venues make up a large portion of our clientbase. Our goal is to provide a better product with lower premiums.
6. Can my current agent access the RPG?
No. The program is exclusive to clients dealing directly with DeWitt Stern. To provide the absolute best service and risk management advice, DeWitt Stern’s business model is to work one-on-one with our clients.
7. Who is the insurance company?
St. Paul Fire and Marine, a Travelers company, which is A.M. Best A+ rated.
8. Why was this insurance company selected to be the insurer for the RPG?
It was selected because of its strong financial rating coupled with its expertise with this class of entertainment liability business. It has insured this class for 20+ years.
9. I am a for-profit company. Can I get a quote?
No, unfortunately this program is only open to not-for-profit performing arts venues.
10. How long will it take to get a quote?
Once we receive your completed application and all of the other necessary information, you will get a quote within 2 weeks.
11. What level of service does DeWitt Stern provide?
We have a national staff of over 30 people. We custom-tailor a service model to meet each client’s specific requirements. We are available to our clients 24/7.
12. The RPG is only for liability coverage but I often need artist non-appearance, special events, theatrical property, international coverage for touring, workers compensation, building insurance and directors and officers coverage. Can DeWitt Stern handle these requests?
Yes. DeWitt Stern has expertise in all areas of entertainment and media and can serve as your broker outside the RPG. DeWitt Stern handles numerous international tours and clients with a broad range of demands relating to the entertainment field – including Broadway shows, music videos, and feature films.
13. How is DeWitt Stern compensated for its insurance brokerage services?
We are compensated through commission paid by the insurance company.
14. If I am currently insured with Travelers, can I get a quote through the RPG?
Yes. You have to appoint DeWitt Stern as your broker. Your current broker does not have access to the RPG program. It is a DeWitt Stern exclusive.
15. If another member venue in the program has large losses, will that affect my rates?
No. Your rates are based on your experience. There is no pooling of limits or losses. Each member stands alone.
16. Will my rates be guaranteed for more than a year?
No. Similar to how standard insurance works, your account will be reviewed each year on its own merits.
17. I have state funding and contracts that require an insurance company that is admitted and A rated. Does the RPG meet these requirements?
Yes. Travelers is admitted in all states and has an A.M. Best rating of A+.
18. Can I get certificates of insurance quickly?
Yes. We issue certificates of insurance the day the request is received, whenever possible.
19. If I join, am I locked into the RPG program?
No. Similar to your current insurance, you can leave the RPG anytime and get a return premium of the unearned portion. There would be a short-rate penalty on the earned premium similar to other insurance policies. The $500 membership dues are non-refundable.
20. Does this RPG program include terrorism coverage?
21. Can I ask my broker or agent to set up an RPG?
Anyone can form an RPG. It requires considerable research, expertise and time. If your agent does not have a lot of performing arts venue clients, it would be very difficult to start one. DeWitt Stern has been developing this RPG for over a year.
22. If I complete the application, am I guaranteed a quote?
No. Certain underwriting criteria must be met in order to qualify for the program, such as good loss history, revenue size, and nonprofit status.
23. Can you provide higher limits of liability?
The RPG provides $6 million in limits. DeWitt Stern can arrange higher limits outside the RPG program.
24. Are there any other costs in addition to the premium?
Yes. Annual membership dues of $500 are paid to the RPG. Loss control, certificate issuance, claims handling, and other services are included in the premium.
25. Can I keep my same renewal date or is there a common date for all members?
You can get a quote now, join the RPG, and maintain your existing renewal date or choose any date you prefer.
26. How do I join the RPG?
You can get a quote without joining, but if you want to take the coverage offered, you are required to sign a membership agreement which outlines your obligations (click here to view sample). Annual membership dues of $500 are payable at policy inception for every year you are enrolled in the RPG.