Frequently Asked Questions

Q:Our insurance has always been handled by a local agent. Why should I consider doing business with an out-of-town agency like Preston-Patterson?
A:Experience. The insurance needs of broadcasters and media companies are very specialized and there are few insurance agencies with experience in this regard. Preston-Patterson has been insuring broadcasters and media companies since 1984 and we have clients throughout America. Much as your FCC counsel (probably a Washington, DC law firm) and your banking partner (possibly a major money center bank) bring a particular expertise to your FCC legal matters and banking needs, respectively, Preston-Patterson brings a focused and experienced team to the placement and handling of your property and casualty insurance and risk management services.
Q:What’s in it for me?
A:First and foremost, we’re going to significantly reduce your premiums – our goal is to reduce your premiums by at least 20% – 30%. In addition, we’re going to provide you with better coverage and superior risk management/client services. All three matters will be explained in detail in our proposal.
Q:I’m very busy. How much of my time is your preparation of a bid going to require?
A:Two to four hours. Typically we will need an hour or two of your time in our first meeting and another hour or two later to discuss various matters leading up to final presentation of the bid.
Q:What do you need me to provide you in order for you to prepare a bid?
A:Not much. First, following a brief meeting in your office to discuss general information, we’ll need to conduct a quick review of your current insurance policies to make sure that we’re quoting the same terms (limits, deductibles, etc.) and to gather basic specifications – addresses, schedules of vehicles, etc. Next, we’ll need you to advise us of any changes in your activities that you would like to have reflected in our bid. Often times this is most easily accomplished by you providing to us the same updated information that you provide your current agent for his/her use in developing their renewal quotation. Underwriters will also require that we provide them with claims information for your company for the last few years. Lastly we’ll need to speak with your chief engineer to gather some basic “nuts and bolts” underwriting information (how tall is the tower? when was the tower built?, etc.).
Q:Our company conducts a lot of concerts and special events. How do you handle insurance for concerts and special events?
A:Concerts and special events are insured within the general liability policies that we establish for our clients. One of our responsibilities is to insure all of your concerts and special events. By working with your event/promotions personnel on basic risk management matters we act to protect your company and minimize any event premium charges.
Q:You’re in Philadelphia but our corporate office is in California and our stations are in various markets in four states. How are you going to handle that?
A:Preston-Patterson is licensed in 48 states and has clients throughout America (with California being our largest state by client count). We all transact important insurance business matters via e-mail, phone and FedEx but at Preston-Patterson we also think it important for us to visit with our clients wherever they may be.
Q:Risk management. Talk with me about risk management.
A:Our highly experienced staff of broadcast and media insurance specialists is very pro-active on risk management. Over the last thirty years we’ve insured just about every type of activity or event from huge concerts and festivals to chartered ocean liner cruises to “Survivor” contests. We provide our clients with guidance and assistance in validating vendor/contractor insurance compliance, softening venue/lease insurance/indemnification provisions, and driver qualification among other matters. And we have some excellent formalized risk management tools – event risk management manual, fleet safety manuals and the like – that can strengthen your risk protocols and protect the company.