Thursday, October 6, 2011

PPA to Buy Equipment Insurance for Most Members

news from PPA

PPA to Buy Equipment Insurance for Most Members

New PhotoCare benefit gives members a $15,000 policy covering photographic equipment and computers.

PPA has announced a landmark decision that will help protect your business and put hundreds of dollars back into your pockets each year. In a move never before seen in the industry, PPA revealed that we will pay for $15,000 in equipment insurance coverage for each of our Professional Active and Life members living in the United States! The decision adds yet another unmatched membership benefit to a list that already dramatically outpaces any other photographic organization. PhotoCare

Opt in today for your $15,000 equipment insurance coverage!*

*U.S.-based PPA Professional Active & Life members

The policy, called PhotoCare, covers photographic equipment losses up to $15,000, including up to $5,000 for certain computer equipment. You can also purchase additional equipment insurance and general liability policies through Lockton Affinity, PPA's exclusive insurance partner. That coverage will come at a significantly reduced rate negotiated by PPA. (However, no additional insurance purchase is necessary to receive the initial coverage paid for by PPA.)

"Most photographers have tens of thousands of dollars wrapped up in gear and computer equipment that is critical to their businesses," says Don Dickson, PPA president. "This PhotoCare benefit helps photographers protect their livelihood and is absolutely essential. Our members need this."

Based on surveys of current market prices, the amount of equipment insurance being offered would typically cost the photographer $350 or more annually. Interestingly, that is more than the entire cost of PPA membership! The benefit could not be possible without the collective buying power that comes from being part of the world's largest association for professional photographers.

"Quite frankly, this is the advantage of being a PPA member," says David Trust, PPA's CEO.

"Three things come together to make this possible," Trust continues. "First, our size gives us the ability to negotiate with strength, which means members get the best benefits in the industry. Second, our not-for-profit status means we aren't just trying to make a buck—we exist to give back to the industry. And third, as an association we are healthier now than at any time in our 142-year history, so we have the ability to make a gigantic commitment back to our members."

It is also worth noting that at no time does PPA receive any royalties based on additional insurance purchases, even though royalty programs are common in the association world. PPA actually pays for the insurance coverage for each member who enrolls...and receives no income or royalty in return.

"Most associations are looking for royalties as operating revenue," says Scott Kurkian, PPA's chief financial officer, who headed the negotiations. "Lockton asked us if we were interested in a royalty-type program but we told them, 'No thanks. Just give our members a better rate.' And to their credit, they did."

Andy Osborn, Lockton Affinity Producer, adds: "We worked with an insurance carrier to tailor the PhotoCare policy specifically around the needs of professional photographers. We are excited to partner with an association so committed to the well-being of its members and look forward to a long and healthy relationship with PPA."

Trust also lauds PPA's board of directors for its part in making PhotoCare available. "This requires a massive financial commitment, which means completely reworking how we approach our budgeting," he explains. "This would not have happened without a board of directors that cares about its members. No other board that I know of would agree to such a commitment without also attaching a dues increase, but that is exactly what ours did. This is what it means to be PPA. It is what makes this association special."

PhotoCare is available to U.S.-based Professional Active and Life PPA members. In order to activate the policy, members must log in to and opt in. Instructions are provided on the site.

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