Golf Inc. - October 2008 - (Page 32b)

ADVERTORIAL Owners & Members Private Club Initiation Fee Insurance In today’s private club membership recruitment environment the only thing that’s certain is uncertainty - Owners & Members Initiation Fee Insurance offers reassurance for prospective members and a proven track record for club owners, managers, and directors. With the employers of many prospective club members constantly shuffling executives, James J. Keegan O&M Initiation Fee Insurance allows private clubs and management companies to offer an insured initiation fee refund promise to their members. “We’ve used Owners & Members insurance at some of our clubs for several years,” Gary Dee, executive vice president and principal of Heritage Golf Group said. “We’ve found it very helpful for a certain category of membership prospect. Bottom line is that it’s helped us sell memberships.” Underwritten by Chubb, an insurer known and trusted by highnet-worth individuals, O&M Initiation Fee Insurance enables clubs and management companies to offer an insured initiation fee promise to their prospective members. “This is my second club where we’ve used O&M Initiation Fee Insurance,” Randy Rice, CCM, general manager, Marietta Country Club, Kennesaw, GA said. At my previous position there was a nearby club that had a refundable initiation fee. This has allowed us to compete. We offered a lump sum or payment plan on initiations. Because of the insurance many new members elected to pay the lump sum.” Owners & Members program lets each club custom design a simple refund program that suits its membership. Relocation Refundability™ is built into the club’s by-laws. The O&M process and product is unique: it has been issued a U.S. Patent (Patent No. 7,395,218 B2). O&M Initiation Fee Insurance helps clubs avoid complex legal agreements; puts financial control in the hands of the current members; may reduce debt and/ or transfer lists, thereby making a club more attractive to potential members or buyers; and provides an immediate payment to the club for a relocating member so the club can keep a new member’s initiation fee. “We’ve tried over the years to come up with ways to keep our resigned list at a minimum,” said Bob Holzman, general manager, Weston Hills Country Club, Weston, FL, “We elected to go with O&M because their insurance program allows the resigning member who’s relocating to get their money back. Prospective members understand the concept and that it’s through a nationally recognized insurance company. It gives the new member a sense of comfort.” http://www.ownersmembers.com

Table of Contents Feed for the Digital Edition of Golf Inc. - October 2008

Golf Inc. - October 2008 Contents From the Editors: Smaller is Less Costly Survey Reveal Golf's Economic Impact in EMA Private Club Managers Earn Bigger Salaries Dyes Mourn Loss of Family Member Changing Demographics Impact European Golf Scene RDC Golf Group Finds Affordable Golf Niche Links at Summerly Offers Unique Twist Cost Crunch Most Powerful People in Golf Contractors Focus on Renovations, International�Projects Troon, IMG Reach Into Booming Middle East Market Americas Recap: New Player Design in Mexico Europe-Africa Recap: Moroccan Lakeside Development Asia-Australia Recap: 3 Billion Dollar Resort in Vietnam The Last Word: There's No Substitute for Good Friends on a Golf Course

Golf Inc. - October 2008

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