The Hartford and Argo Insurance Brokers (Program endorsed by PMA)

April 1999

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Hartford, Conn. – For most businesses, valuing inventory for insurance purposes isn’t particularly difficult. But book publishers face a perplexing problem; their inventory can change rapidly and returns might not be covered. To ensure publishers get the protection they need, The Hartford Financial Services Group, Inc., a leader in commercial insurance, and Argo Insurance Brokers, specialists in administering insurance for the publishing industry, have introduced a new, comprehensive insurance program designed specifically for the book trade. It features a unique option that pays up to $25,000 to cover losses to books that have been returned, in addition to offering a broad mix of property and liability coverages. Called the PMA Business Insurance Program, the new package is the only insurance program endorsed by the Publishers Marketing Association. It is available nationwide and targets small and medium-sized publishers.”The Hartford and Argo Insurance really understand the publishing business,” said Jan Nathan, executive director of PMA. “The returned books coverage — the only one of its kind in the industry that I know of — is an example of how this program helps meet the specific needs of small publishers. That’s why we’re recommending it to our members.” The Hartford developed the returned books option to help publishers cope with the value fluctuations of their inventory caused by unexpected returns.”Small and medium-sized book publishers can be caught off-guard…IBPA Members – Click here to view the full article (login required).

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