We're pleased to report that the AEGIS Board of Directors approved the issuance of continuity credits to our general liability and directors and officers liability members for the 21st consecutive year. This year's credit is at a level of 5% of our total policyholder surplus or $54.0 million. Since 1987, we've returned $886.3 million to our members in general liability and directors and officers liability continuity credits – $246.8 million has been returned in just the last five years.
The Company's financial strength and diversification continue to enable us to provide our members with the coverages they need at historically higher loss ratios than those expected by investors in the commercial insurance industry. Continuity credits are another very tangible example of the benefits of member participation in AEGIS. Our Board of Directors' decision to keep the continuity credit at the 5% level is an expression of their confidence in our business plans and robust condition.
The details regarding specific general liability or D&O credits will be sent later this week to eligible members along with materials that describe how they can be applied to future premiums.
The Board has also approved $2.5 million in premium credits for members who renew coverages placed through our Lloyd's syndicate. Now in its fourth year, the AEGIS London premium credit program allows eligible members utilizing our syndicate to share in the positive underwriting results of the operation. We will advise each participating member of their 2008 London credit, and provide a detailed description of the program definitions and guidelines, via letter within the coming weeks.
Additionally, the Board has approved $6.5 million in premium credits for members who renew coverages placed through our domestic property program. Now in its sixth year, the property premium credit program allows eligible members to share in the positive underwriting results of the operation. We will advise each participating member of their 2008 property credit, and provide a detailed description of the program definitions and guidelines, via letter in late September 2008.
We have just expanded our alliance with Liberty Mutual to include a complete range of occurrence-based primary and excess coverages for energy-related construction projects, including primary general liability and workers' compensation. Combined with AEGIS property capacity, we now provide complete construction capabilities, including multi-year coverages, OCIPs and wrap-ups. Coverage details are posted on our website.
For more information, please contact George Keefe via e-mail or at 201.508.2797.
Our annual AEGIS Policyholders' Conference will be held Monday, July 28 through Thursday, July 31 at the Hyatt Regency San Francisco. Complete details and registration information were sent via e-mail to eligible attendees last week.
Conference registration is complimentary and attendees are invited to bring guests. AEGIS will reimburse one representative from each member company with a current AEGIS policy written through AEGIS in New Jersey for the cost of three nights' lodging at the Hyatt Regency San Francisco.
If you have any questions about your eligibility, please contact Gil Gould by e-mail or by phone at 201.508.2790. Brokers must be connected with a current AEGIS member policy written through AEGIS in New Jersey in order to attend. If you have any questions about the conference, please contact Carrie White by e-mail or by phone at 201.508.2840.
Please register for the next Claims Roundtable seminar – Winning at Mediation: Negotiation and Settlement Techniques – which will be held on June 5 in our East Rutherford offices and on June 19 in Boston.
The faculty, including experienced in-house and outside litigation counsel and claims professionals, will share their insight and experience in optimizing the mediation process to achieve the best results. Among the subjects to be discussed are: evaluation of the client's goals; techniques used to bring your opponent to the bargaining table; the importance of creativity and flexibility during the mediation process; strategies on highlighting the "good facts" and dealing with the "bad facts"; and working toward a model of problem-solving negotiation.
As always, you're welcome to attend AEGIS Claims Roundtables in person or by videoconference, and Continuing Legal Education (CLE) credits are offered. For more information about the AEGIS Roundtable program, please contact Jeff Schupack by e-mail or by phone at 201.508.2658.
Our training workshop for electric utility personnel – Investigating Electrical Incidents – will be held again on June 4 and 5 in Bellevue, Washington. The workshop will be hosted by Puget Sound Energy, Inc.
AEGIS member company staff from operations, compliance, claims, safety, engineering, and those who may be involved in field investigations are welcome.
This one-and-one-half day training workshop provides AEGIS members with information needed to properly investigate incidents involving inadvertent or intentional contact with an electric utility's system equipment, power lines and supporting structures. Attendees will learn about the objectives of investigations, determining the causes of incidents, conducting witness interviews, National Electrical Safety Code clearance rules, and the importance of properly collecting, documenting and retaining evidence.
AEGIS member company personnel from operations, claims, engineering and safety are welcome to attend. Those who are responsible for field investigations are particularly encouraged, including operations supervisors, T&D engineers, claims investigators and safety professionals.
The workshop, breakfast and lunch are complimentary; however attendees will be responsible for their own travel and accommodations.
Please register now on our website. For more information, contact Lucille Jackowski by e-mail or phone at 201.508.2736.