Spectrum Weather and Specialty Insurance has accepted an invitation to speak at the Michigan Green Industry Association’s Snow Conference & Expo, to be held in Novi, MI, October 8 and 9, 2014. After such an extreme winter, snow insurance will be on the minds of many in the snow removal industry.
Spectrum Weather and Specialty Insurance, Inc., the leading domestic broker of snow insurance and other snow-related risk management products, has accepted an invitation to be a featured speaker at the Michigan Green Industry Association’s (MGIA) Annual Snow Conference & Expo, to be held in Novi, MI, October 8-9, 2014. The yearly MGIA Expo is an opportunity for representatives of companies in Michigan that are involved in the snow removal and related industries to come together to help educate each other on the best principles of business management, snow and ice operations, leadership, and other aspects unique to the industry. Spectrum’s President, Robert Holmes, will discuss snow insurance basics, applications of snow insurance, and how to obtain a policy to meet the very specific needs of the purchaser.
Snow insurance helps to mitigate the financial implications due to seasonal snowfall volatility.
This past winter has seen extreme snowfall totals throughout the great state of Michigan, with many locations receiving over 200% of the average snowfall. Snowfall removal contractors in Michigan that were bound with fixed-price seasonal contracts may have had a financially challenging winter. However, those that placed snow insurance coverage were able to offset much of their losses with insurance claims. “This was an unprecedented year for snow insurance claims,” states Spectrum’s President, Robert Holmes. “In my fourteen years in the weather risk management industry, I have never witnessed claims to the magnitude seen this past winter”.
Mr. Holmes, will be in attendance through the entire MGIA Snow Conference and Expo. In addition to speaking on the merits of snow insurance, Spectrum will also be an exhibitor at the associated trade show. “As our climate continues to become more volatile, companies whose revenue is highly correlated to weather will continue to face challenges each year. Those in the snow and ice removal industry have witnessed such volatility first-hand over the past several winters”, stated Mr. Holmes. “It is Spectrum’s goal that those in this industry are educated with regards to the availability specialty insurance products, such as snow insurance, to help mitigate those risks.” And while this past winter had many cites experiencing record or near-record amounts of snow, “next winter may be just the opposite….or not” After all, Mother Nature always bats last.
Spectrum was established with the goal of providing rain insurance, event cancellation insurance, snow insurance, and other weather insurance solutions that are simple to understand and purchase, and with the highest degree of customer service in the industry. Spectrum serves entities both large and small, including fairs, festivals, concerts, and other outdoor events impacted by weather. In addition to rain insurance, Spectrum provides liability insurance for events, as well as insurance for weather-based promotions. Spectrum also provides snow insurance to help protect against extremes in winter snowfall for snow removal contractors and others exposed to snowfall volatility.
The Michigan Green Industry Association is a statewide professional trade association serving the green industry for over 50 years. MGIA promotes education and certification to its members and has set high standards of professionalism and business integrity for Michigan’s green industry contractors. MGIA provides more than 800 members with the latest information on new methods, treatments and technologies that help the landscape thrive. Our members range in size and include franchise operations. Members of MGIA include not only those in the landscape and hardscape industry, but also snow removal contractors, equipment suppliers, salt and chemical suppliers, and those providing professional services to the snow removal industry.
For more information about Spectrum Weather and Specialty Insurance, Inc., visit www.spectrumweatherinsurance.com.
For more Information on the Michigan Green Industry Association’s Snow Conference and Expo, visit http://www.landscape.org/snow_expo.cfm.
