http://www.plumtreeagency.com/index.php?do=/blog/ Latest Blogs http://www.plumtreeagency.com/index.php?do=/plumtreeadmin/blog/blot-test-test-99998/ hjkhhlhhklhhhlhklhkll hjkhhlhhklhhhlhklhkll http://www.plumtreeagency.com/index.php?do=/plumtreeadmin/blog/blot-test-test-99998/ Fri, 08 Mar 2013 15:55:50 +0000 Charles Bacciocco http://www.plumtreeagency.com/index.php?do=/profile-4/blog/five-tips-for-buying-auto-insurance/ nam faucibus consectetur et, feugiat lobortis posuere, at sit mus wisi hac, nam magna, mollis curabitur in. Odio erat at...]]> nam faucibus consectetur et, feugiat lobortis posuere, at sit mus wisi hac, nam magna, mollis curabitur in. Odio erat at aliquam elementum sodales, lacus malesuada sodales suscipit, sagittis dolor vel placerat. Duis ac quisque et, id purus varius, integer feugiat ipsum sed, justo wisi massa neque. Viverra lacinia, phasellus scelerisque sit iaculis diam, tellus metus libero nec malesuada duis, leo wisi. Cursus ipsum nam blandit, diam neque, tincidunt nunc at pellentesque vestibulum, penatibus elit non mollis tempor eleifend ante. Massa velit duis adipiscing nam, placerat quam, in proin maecenas magna suscipit justo ac. Pharetra vel sit, eu sit eu, varius volutpat, quisque nam. Imperdiet imperdiet libero dui sodales, id enim ipsum vitae nec lacus curabitur, elementum tempor dignissim suscipit. Wisi pretium erat mauris, ultricies rutrum wisi rhoncus mauris erat. Aliquam labore ullamcorper lacinia turpis lectus, integer malesuada ipsum velit, etiam eget malesuada wisi felis, dui pulvinar dui, tellus justo in pretium lorem ut. Tempor dolor vivamus hendrerit quam suspendisse, nec libero lorem condimentum in molestie quam, varius augue erat interdum. Velit sed orci quam libero curabitur eu, faucibus consequat gravida fames integer ut semper, tortor risus porta risus.]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/five-tips-for-buying-auto-insurance/ Fri, 30 Nov 2012 18:03:57 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-11/blog/is-insurance-a-commodity-2/ is defined a good that is the same no matter who supplies it, and can be differentiated based on price. Is it true that all insurance is ...]]> is defined a good that is the same no matter who supplies it, and can be differentiated based on price. Is it true that all insurance is the same aside from price? How do most companies decide where to purchase their insurance?

There are many different points of view on this topic. While some see insurance to be a commodity such as lumber, wheat or iron ore, others believe that insurance can be differentiated. One LinkedIn professional commented that insurance is dependent on the importance of assets acquired by a company; a new company may only need the lowest price insurance coverage, while others have more assets to protect and will seek the best coverage for an affordable price.

Another commented that, as an insurance broker, it is necessary to make price as irrelevant as possible. Clients should start thinking not only of price, but of the total cost of risk. While certain insurance coverage may be expensive, it can be more expensive for a company to risk not having that coverage. If an employee is injured and not covered by Worker’s Compensation, it can be expensive for a company to handle this without the proper coverage.

Some believe that if companies purchase insurance based on price alone, they are failing to see the value of mitigating risk. An insurance broker should be able to clearly explain the differences of suggested policies and how they directly benefit the client company.

Another response concluded that insurance is a commodity, but the relationship a client has with a broker is always a differentiator. The insurance broker provides a service in selling that commodity; it is ultimately the relationship between client and broker that is valuable and variable.

As I see it, the value of insurance is often underestimated. It is only after a substantial loss that company owners truly appreciate their coverage. For risk managers, insurance is an important tool for transferring risk and often a the last consideration after employing other risk mitigation techniques.

How do you value insurance? Is it a commodity, or do you take more into consideration when choosing your coverage than price alone? As an insurance broker, how do you make the client see insurance as a something other than a commodity? This sample article is from one originally written by Craig Rowe at ClearRisk.]]> http://www.plumtreeagency.com/index.php?do=/profile-11/blog/is-insurance-a-commodity-2/ Wed, 14 Nov 2012 19:03:26 +0000 Henry Agent http://www.plumtreeagency.com/index.php?do=/profile-10/blog/support-your-board-of-directors-2/ Boards are under pressure like never before to assure their organization has an effective risk management program. The SEC, through the Proxy Disclos...]]> Boards are under pressure like never before to assure their organization has an effective risk management program. The SEC, through the Proxy Disclosure Enhancements amendment, is holding them personally responsible for risk management.

If your board hasn't already come knocking on your door for a briefing on the effectiveness of risk management, they will be soon. So the $64,000 question remains:

What should you present to the board?

The short answer is the larger picture of risk with a connection directly to the front-line. This is the crux of the problem. As you know, the board makes strategic decisions by viewing your organization from a 35,000-foot perspective. They aren't interested in a list of hundreds of risk indicators, or even the top 10 operational risks.

Your board needs to understand the sources of uncertainty that could impair continuing operations or reaching your organization's strategic goals. The risk is not the event of a lawsuit, but rather the uncertainty that employees are acting appropriately that the board needs to know about. It's not the event of supply chain disruption, but rather the uncertainty of changes in weather patterns. The board needs to understand trends in uncertainty, that is the larger risk picture, on the commitments they have endorsed.

Sounds simple enough, so how do you assemble this information?

You need to take these big picture issues one by one, and connect them to the real people that materially contribute to each issue.

How to connect risks to strategic goals:

1. Choose one of the board's strategic goals.
2. Identify the business processes that contribute to that goal.
3. Assess the sources of risk for each corresponding process.
4. Connect the corresponding risks to that strategic goal.
5. Repeat steps 1 through 4 for each of the board's strategic goals.
6. Report the impact of risk on each strategic goal to the board.
Any one of these steps can be a challenge for risk managers. Find out how ready you are to present to the board, evaluate your risk program with the RIMS Risk Maturity Model Assessment.

You can also learn more about what the board requires by registering for our next webinar: What should you report to the board?]]> http://www.plumtreeagency.com/index.php?do=/profile-10/blog/support-your-board-of-directors-2/ Wed, 14 Nov 2012 18:59:14 +0000 Bailey Broker http://www.plumtreeagency.com/index.php?do=/profile-7/blog/erm-continues-to-evolve-2/ particularly in the U.S., the vast majority of corporations have made very little information about their overall risk profiles available t...]]> particularly in the U.S., the vast majority of corporations have made very little information about their overall risk profiles available to stakeholders. Companies in many other industrialized countries, like Canada, the U.K. and Australia, are much more forthcoming about their risk and ERM activities.

The situation's poised to change as rating companies start to factor in a company's ability to manage ERM. Stakeholders will start to gain a plethora of new risk-related data and information available to them. This story of risk management is likely to expand greatly over the next decade.

ERM: A Constantly Changing Management Discipline
Of course, companies have been managing risk for years. Historically, they've done this by buying insurance. More recently, companies have managed risk through the capital markets with "derivative instruments" that help them manage the ups and downs of moment-to-moment movements in currencies, interest rates, commodity prices and equities. From a mathematical point of view, all of these risks or "exposures" have been reasonably easy to measure, with resulting profits and losses going straight to the bottom line.

Where ERM comes in is where companies manage the risks that defy easy measurements or a framework for management. These include crucial risks such as reputation, day-to-day operational procedure, supply chain, legal and human resources management, financial and other controls related to the Sarbanes-Oxley Act of 2002 (SOX), and overall governance. All of these and other exposures fall under the ERM umbrella.

Back to the Upside
The "upside" that we discussed earlier also includes focusing on preventive measures that help a company avoid potential disasters down the road. For example, some of these actions may include determining when and how the physical assets they own need to be maintained and replaced. This way, the company can avoid unexpected and costly plant and equipment failure that might result in shutdowns, explosions or other events that put a company's employees, communities and reputations at risk.

Understanding that their most important and valuable asset is their reputation, some companies work proactively to protect the company when dealing with man-made or natural disasters. In one of the most storied reputation risk management stories in recent history, Tylenol found itself in need of a burnished reputation in the face of product tampering. It reacted by being honest with the media and quickly and aggressively removing and replacing its products at retail outlets. From 2006 to 2008, the recent push for companies is to prove they are "going green", hoping that aggressive environmental risk management will position their products, plants, supply chain and other operations positively with current and future customers. (Read more about this in For Companies, Green Is The New Black and The Green Marketing Machine.)

How to Find ERM-Friendly Companies
It is a difficult task for investors to discover which companies are working to manage risk from an enterprise-wide perspective - and an even more difficult job discovering who is doing so effectively. Many board members don't understand ERM, believing it to be simply another potentially costly, hard-to-measure regulatory fiat from Washington. Many others believe that effective ERM can be achieved simply by expanding their SOX-related reporting and controls efforts, which is not the case.

Because it's a new management discipline, what constitutes "best practices" in ERM has yet to be defined; currently it's being defined industry by industry, but few if any companies promote themselves as being "best of the best" in ERM or risk management.

So, how do you know who's working hard at effective ERM? A growing number of companies, particularly outside the U.S., devote a significant portion of their annual reports discussing risk management, regardless of whether they specifically call it ERM. Generally, investors interested in discovering who's doing a comprehensive job at risk management - and reporting it publicly in their annuals - need to look abroad. Just north of the border, Canadian-based companies discuss risk extensively in their annuals and they are a good place to start looking into this area further.

Read more: http://www.investopedia.com/articles/fundamental-analysis/08/enterprise-risk-management.asp#ixzz1W4weEd6v]]> http://www.plumtreeagency.com/index.php?do=/profile-7/blog/erm-continues-to-evolve-2/ Wed, 14 Nov 2012 18:56:16 +0000 Paul Producer http://www.plumtreeagency.com/index.php?do=/profile-11/blog/risk-management-challenges-for-start-ups-3/ A new business has risk amanagenment challenges that are unique to start-ups. Having an effective risk control or better known as lost control program...]]> A new business has risk amanagenment challenges that are unique to start-ups. Having an effective risk control or better known as lost control program in place as soon as posssible in the early days of company operations can help you get the best small business insurance pricing in the marketplace. The goal of risk control and/or lost control is simply to reduce and/or eliminate the frequency and severity of claims and losses the company might be facing. Sometimes small business insurance packages include underwriting requirements that demand that frequency and severity exposures are under control. This can take on many forms such as requiring the insured to have safety devices in place, safety plans formally written and in place and a follow-up claims inspection review process in place. When seeking to provide lost control programs in place engineering designs must be at the forefront in designing a safe work environment. The implementation of safe workflow procedures requires comprehensive education of all employees that are involved in the operations. Identifying the hazards and increased liability conditions is the first step.

Management at all levels must be involved in the loss control process.

Once the typical hazards are identified within an organization, communicating those hazards to operators and employees is crucial to loss control safety. Reviewing and analyzing past claims and lost history for your company and for other companies within your industry can be helpful in identifying industry norms. The communication process in the loss control plan must flow both from the top and from the bottom to top of an organization. If upper management does not take suggestions, comments and/or complaints from front line workers, the lost control plan is doomed at the get-go. Even though small business insurance packages tend not to be complex contracts it is still important to have a behind-the-scenes risk control loss prevention plan in place where appropriate for your business and industry. Motivating both upper management middle management and the frontline workers can and will be your biggest challenge. Besides the identification of the hazards to potential losses and having a plan to deal with those potential losses, the follow-up to any and all claims also needs to be a part of the risk control plan.

In order for you to receive the most competitive price for your best small business insurance portfolio, the formal, detailed risk control plan must be in place. Submitting this document along with your application will ensure the best pricing available for you. Before an insurance company releases a price for a new small business insurance potential client, the underwriter most certainly will be looking for lost control systems that are in place before they will give their best pricing.

In summary some of the key risk control characteristics that we have looked at include: engineered design operations and workflows for safety; education for management and employees at all levels with regards to the risk control plan; effective communication systems in place that allow information to flow from top to bottom and bottom to top within the organization. Finally, motivating all people within the organization to follow through on the risk control plan is essential.]]> http://www.plumtreeagency.com/index.php?do=/profile-11/blog/risk-management-challenges-for-start-ups-3/ Wed, 14 Nov 2012 16:30:12 +0000 Henry Agent http://www.plumtreeagency.com/index.php?do=/profile-7/blog/a-5-step-risk-management-plan-for-your-small-business-7/ is being written about risk management for small and medium sized businesses (SMBs). In fact, if you do a little bit of research, you’ll...]]> is being written about risk management for small and medium sized businesses (SMBs). In fact, if you do a little bit of research, you’ll probably find yourself soon overwhelmed with advice, methods, terminology and tools.

Getting started with any new process is tough. It’s hard to get out of the blocks. It’s scary. It seems overwhelming.

Don’t be overwhelmed. I’m here to tell you that establishing an effective risk management process for your business doesn’t have to be difficult.

Risks faced by SMBs are manageable and the benefits are worthwhile. Even though traditional risk management may not suit the needs of SMBs, scaled solutions that can help SMBs identify, evaluate and manage their risks are available. So what does a scaled risk management process look like for a small or medium sized business? How do we get out of the blocks? There are ten basic steps.

1. Establish management support and buy-in.

Before you can do anything, there has to be buy-in from the top. The company’s ownership and/or management have to be on board with creating the risk management process and providing resources necessary to execute that process. They will need to have a basic understanding of what risk management is, why it’s important and (especially!) why it’s in their best interest to implement a formalized risk management program. If top management doesn’t see the value in the exercise, stop here. Any work on additional steps will be a waste of time.

2. Learn about the process.

Now that you have the necessary sponsorship and resources, you need to do some research into the specifics. Although there are only three basic steps in risk management, there are many different techniques for accomplishing those steps. Investigate what methods are in use in your industry. Identify the best practices. Think about how your company’s specific culture will come into play for your process.

3. Identify helpful resources.

As you are doing the research in Step 2, start compiling a list of potential resources you can tap into. There are many websites and blogs that focus on risk management. You will also find professional advisors who can help you – consultants, bankers, investors, insurance brokers, directors, etc. This resource pool doesn’t necessarily need to be expensive. Many of the stakeholders in your business will be happy to help you if you ask.

4. Create a plan.

A plan will be critical to successful implementation. Plans provide a means for communication and accountability. They also help pull a team together if the plan is generated with input and agreement from the team members. Your plan should include details on schedule, budget, approach and resources to be used. The plan should also identify your company’s risk management ‘champion’. Don’t forget to include the steps Craig wrote about in his post here.

5. Identify your risks and opportunities.

It’s time to take the first step in the risk management process itself – identify your risks and opportunities. Don’t worry about creating an exhaustive list. It’s more important to just get started. Hold a brainstorming meeting or a series of meetings. It will be helpful to focus your brainstorming sessions on specific categories – e.g. risks/opportunities to facilities, risks/opportunities to revenue, risks/opportunities to expenses, etc. Remember that identification is an ongoing process.]]> http://www.plumtreeagency.com/index.php?do=/profile-7/blog/a-5-step-risk-management-plan-for-your-small-business-7/ Thu, 18 Oct 2012 16:49:12 +0000 Paul Producer http://www.plumtreeagency.com/index.php?do=/profile-10/blog/mold-exclusions-an-update-for-2012/ for the property damage and third party liability associated with mold or fungus has been the focus of new insurance policy exclusionsin r...]]> for the property damage and third party liability associated with mold or fungus has been the focus of new insurance policy exclusionsin recent years. Damage related to Exterior Insulation and Finish Systems (EIFS) i.e. synthetic stucco is a standard exclusion in all liability policies today.The deterioration of this building product has resulted in structural damage from moisture infiltration and growth of mold. In addition to this restriction most liability policies will also have a separate mold and fungus exclusion.

First party property policies are all being issued with similar mold and fungus exclusions. It would appear that everywhere you turn the insurance industry is finding another way to restrict coverage for this loss exposure.

We often find the first generation of these type of "absolute exclusions" take away things that were never intended. Consider when the pollution exclusion in the general liability policy was introduced in the 1980's. The original version excluded injury as result of smoke from a hostile fire. A tenant in an apartment fire dies as result of smoke inhalation. The apartment owner has no insurance for the wrongful death lawsuit. This is a far cry from the underground tank leaking for several years, one of the primary causes for this exclusion. Now there is an exception for hostile fire, smoke, as well as the failure of heating, ventilating and cooling equipment.

We are finding that the same is true with the issue of mold. Let's assume you are a restaurant and patrons get ill alleging that food you served was spoiled. If you have the commonly used mold exclusion you will have no coverage for this type of an incident. Liability for the customer's illness is not covered by the general liability policy since it was the result of bacteria. There is a version of this exclusion put out by ISO form CG 21 67 which has an exception for products that contain fungi or bacteria intended for bodily consumption. Like the good customer discount you have to ask for it and it is available.

Now on to property. Let's assume your building sustains a fire and in the process of extinguishing it water infiltrates into the walls that you are unaware of at the time. You then learn weeks later that mold has grown in the walls and need to be remediated. A policy with the typical biological agents exclusion would provide no coverage for cleanup with my example. It is only logical if an insurer covers a loss due to an insured peril they should also cover all the resulting damage. Some property insurers are willing to extend coverage for mold damage that results from a covered peril often with a sublimit. Some coverage for mold is better than none at all.

Now one would think that if you purchased a separate pollution liability policy you would automatically have coverage for mold damage. This is not the case since most insurers attach a mold exclusion in their standard policy. Usually, a mold coverage extension can be negotiated with the insurer which will usually have a separate sublimit and deductible. Here again some coverage is better than none.

The message here is watch for mold limitations in your insurance policies. There are circumstances where coverage carve backs are available.]]> http://www.plumtreeagency.com/index.php?do=/profile-10/blog/mold-exclusions-an-update-for-2012/ Thu, 18 Oct 2012 16:35:31 +0000 Bailey Broker http://www.plumtreeagency.com/index.php?do=/profile-4/blog/risk-management-beyond-2012/ always maintained that good risk management doesn’t have to be resource intensive, difficult for SMBs to undertake or insurance brokers to prov...]]> always maintained that good risk management doesn’t have to be resource intensive, difficult for SMBs to undertake or insurance brokers to provide to their clients. With a little formalization, structure and a strong understanding of your organization, risk management planning can be rewarding.

Risk management does require some investment of time and money but it does not need to be substantial to be effective. In fact it will be more likely to be employed and maintained if it is implemented gradually over time. The key is to have a basic understanding of the process and to move towards its implementation.

That is exactly why we have developed our newest whitepaper: The Risk Management Process.

There are many different risk management models available. Often times these models are unnecessarily complicated or written for an academic audience. We’ve developed this whitepaper from industry best practices and experience and in a way to which business people can relate.

In summary, the five steps in the risk management process are:

1. Identify Potential Risks: What can possibly go wrong?

2. Measure Frequency and Severity: What is the likelihood of the risk occurring and if so what is the impact?

3. Examine Alternative Solutions: What are the potential ways to treat the risk and of these, which strikes the best balance between being affordable and effective?

4. Decide Which Solution to Use and Implement it: Find the needed resources, get the necessary buy-in and pull the trigger.

5. Monitor Results: Is your plan working? Are changes or updates required?

The whitepaper explains each of these steps in detail so you can move towards implementing a risk management plan. Click to view the free whitepaper on the Risk Management Process.]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/risk-management-beyond-2012/ Thu, 18 Oct 2012 15:35:51 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-4/blog/3-tips-for-commercial-auto-insurance/ that the same is true with the issue of mold. Let's assume you are a restaurant and patrons get ill alleging that food you served was ...]]> that the same is true with the issue of mold. Let's assume you are a restaurant and patrons get ill alleging that food you served was spoiled. If you have the commonly used mold exclusion you will have no coverage for this type of an incident. Liability for the customer's illness is not covered by the general liability policy since it was the result of bacteria. There is a version of this exclusion put out by ISO form CG 21 67 which has an exception for products that contain fungi or bacteria intended for bodily consumption. Like the good customer discount you have to ask for it and it is available.

Now on to property. Let's assume your building sustains a fire and in the process of extinguishing it water infiltrates into the walls that you are unaware of at the time. You then learn weeks later that mold has grown in the walls and need to be remediated. A policy with the typical biological agents exclusion would provide no coverage for cleanup with my example. It is only logical if an insurer covers a loss due to an insured peril they should also cover all the resulting damage. Some property insurers are willing to extend coverage for mold damage that results from a covered peril often with a sublimit. Some coverage for mold is better than none at all.

Now one would think that if you purchased a separate pollution liability policy you would automatically have coverage for mold damage. This is not the case since most insurers attach a mold exclusion in their standard policy. Usually, a mold coverage extension can be negotiated with the insurer which will usually have a separate sublimit and deductible. Here again some coverage is better than none.

The message here is watch for mold limitations in your insurance policies. There are circumstances where coverage carve backs are available.]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/3-tips-for-commercial-auto-insurance/ Thu, 04 Oct 2012 16:36:30 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-4/blog/construction-risk-is-risky/ Insurance provides payments to employees who suffer a work related injury or occupational illness. This is referred to as Part ...]]> Insurance provides payments to employees who suffer a work related injury or occupational illness. This is referred to as Part One, and covers medical care, disability benefits, rehabilitation benefits, death benefits and compensation for injured employees, in exchange for relinquishment of the employee’s right to sue the employer for negligence. The policy shows no dollar limits for the benefits payable by the insurer. Any limits on recovery are those stated within the state’s applicable law.

Employer’s Liability protects your business against lawsuits due to employment related injuries or diseases. Lawsuits can be generated by the employee, the family of the employee, other relatives and third parties. This is normally offered under Part Two and provides an additional coverage in most Workers Compensation policies. (There are a handful of states that have the Employers Liability included on another policy form).

There are three limits that apply to employers’ liability: Bodily Injury by Accident, Bodily Injury by Disease-policy limit, and Bodily Injury by Disease-each employee limit. Defense costs and supplementary payments are covered in addition to these limits.

Most workers compensation statutes are compulsory with regard to all private and public employments, subject to some exceptions that vary by state. Normally an employers legal obligations under the workers compensation statute extend to employees only, not to those meeting the statutes criteria for an independent contractor.

Workers compensation issues can get very complicated. You should have your workers compensation policy through an independent insurance agency that has expertise in workers compensation issues. Below are some questions that come up often. See how you do:]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/construction-risk-is-risky/ Thu, 04 Oct 2012 15:29:18 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-4/blog/achieving-workers-comp-savings/ insurance policy consists of six parts; we are concerned primarily with the first two parts: the Workers’ Compensation...]]> insurance policy consists of six parts; we are concerned primarily with the first two parts: the Workers’ Compensation part, for injuries on the job to employees, the Employers’ Liability part, which protects the employers when negligence suits arise from injured employees. Both parts are required by law in many states for all business owners who have employees. This provides an insurance solution to a legal issue.

Workers’ Compensation Insurance provides payments to employees who suffer a work related injury or occupational illness. This is referred to as Part One, and covers medical care, disability benefits, rehabilitation benefits, death benefits and compensation for injured employees, in exchange for relinquishment of the employee’s right to sue the employer for negligence. The policy shows no dollar limits for the benefits payable by the insurer. Any limits on recovery are those stated within the state’s applicable law.

Employer’s Liability protects your business against lawsuits due to employment related injuries or diseases. Lawsuits can be generated by the employee, the family of the employee, other relatives and third parties. This is normally offered under Part Two and provides an additional coverage in most Workers Compensation policies. (There are a handful of states that have the Employers Liability included on another policy form).

There are three limits that apply to employers’ liability: Bodily Injury by Accident, Bodily Injury by Disease-policy limit, and Bodily Injury by Disease-each employee limit. Defense costs and supplementary payments are covered in addition to these limits.

Most workers compensation statutes are compulsory with regard to all private and public employments, subject to some exceptions that vary by state. Normally an employers legal obligations under the workers compensation statute extend to employees only, not to those meeting the statutes criteria for an independent contractor.

Workers compensation issues can get very complicated. You should have your workers compensation policy through an independent insurance agency that has expertise in workers compensation issues. Below are some questions that come up often. See how you do:


1. An employee goes home for lunch and is in a car accident on the way back to the office and is seriously injured; is this a workers compensation claim?

2. You only have one part time employee, do you need workers compensation?

3. A restaurant employee sees a patron being physically abused and jumps in to stop the fight, he in turn gets injured; is this a workers compensation claim?

4. If a workers gets injured and it is a workers compensation claim, will she get her full salary?

5. An employee leaves the office for the night but slips in the parking lot on ice and sustains injuries; is this a workers compensation claim?


Answers: 1. no, 2. yes 3. no 4. no 5. yes]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/achieving-workers-comp-savings/ Thu, 04 Oct 2012 14:33:41 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-6/blog/mold-vs-fungus-in-property-claims/ Mold or fungus has been the focus of new insurance policy exclusionsin recent years. Damage related to Exterior Insulation and Finish Systems (EIFS) i...
First party property policies are all being issued with similar mold and fungus exclusions. It would appear that everywhere you turn the insurance industry is finding another way to restrict coverage for this loss exposure.

We often find the first generation of these type of "absolute exclusions" take away things that were never intended. Consider when the pollution exclusion in the general liability policy was introduced in the 1980's. The original version excluded injury as result of smoke from a hostile fire. A tenant in an apartment fire dies as result of smoke inhalation. The apartment owner has no insurance for the wrongful death lawsuit. This is a far cry from the underground tank leaking for several years, one of the primary causes for this exclusion. Now there is an exception for hostile fire, smoke, as well as the failure of heating, ventilating and cooling equipment.

We are finding that the same is true with the issue of mold. Let's assume you are a restaurant and patrons get ill alleging that food you served was spoiled. If you have the commonly used mold exclusion you will have no coverage for this type of an incident. Liability for the customer's illness is not covered by the general liability policy since it was the result of bacteria. There is a version of this exclusion put out by ISO form CG 21 67 which has an exception for products that contain fungi or bacteria intended for bodily consumption. Like the good customer discount you have to ask for it and it is available.

Now on to property. Let's assume your building sustains a fire and in the process of extinguishing it water infiltrates into the walls that you are unaware of at the time. You then learn weeks later that mold has grown in the walls and need to be remediated. A policy with the typical biological agents exclusion would provide no coverage for cleanup with my example. It is only logical if an insurer covers a loss due to an insured peril they should also cover all the resulting damage. Some property insurers are willing to extend coverage for mold damage that results from a covered peril often with a sublimit. Some coverage for mold is better than none at all.

Now one would think that if you purchased a separate pollution liability policy you would automatically have coverage for mold damage. This is not the case since most insurers attach a mold exclusion in their standard policy. Usually, a mold coverage extension can be negotiated with the insurer which will usually have a separate sublimit and deductible. Here again some coverage is better than none.

The message here is watch for mold limitations in your insurance policies. There are circumstances where coverage carve backs are available.]]> http://www.plumtreeagency.com/index.php?do=/profile-6/blog/mold-vs-fungus-in-property-claims/ Wed, 03 Oct 2012 18:50:48 +0000 Bob Bigclient http://www.plumtreeagency.com/index.php?do=/profile-4/blog/insuring-older-buildings-requires-expertise/ sit amet, dapibus ac vel vivamus et, sociis vivamus, orci fusce luctus venenatis nulla et, elit lacinia sed integer. Vitae penatibu...]]> sit amet, dapibus ac vel vivamus et, sociis vivamus, orci fusce luctus venenatis nulla et, elit lacinia sed integer. Vitae penatibus nam eu eget at vivamus, eget eget. Pulvinar pede lectus. Tempor luctus aenean phasellus sed aenean praesent, consequuntur pellentesque, massa rhoncus, malesuada sociis. Et malesuada luctus, et ut erat cum. Blandit turpis diamlorem diam dui neque vestibulum, commodo luctus ultricies. Amet in gravida tortor neque elementum ad, sed ac ante ut cras iaculis pretium, tellus erat. Dolor aliquet nulla adipiscing in class, volutpat donec, dignissim luctus wisi mauris nec, urna quam. Mauris proin pede integer luctus amet elit, donec sed vehicula elit, quisque semper et nisl ultricies. In wisi leo eget, nulla ante, placerat elit quam donec. Egestas sed ante ac, dapibus tincidunt senectus elit at, tristique fermentum, nibh ante quam potenti sodales enim diam, magna justo a malesuada congue mattis.

Condimentum dolor vestibulum nam faucibus consectetur et, feugiat lobortis posuere, at sit mus wisi hac, nam magna, mollis curabitur in. Odio erat at aliquam elementum sodales, lacus malesuada sodales suscipit, sagittis dolor vel placerat. Duis ac quisque et, id purus varius, integer feugiat ipsum sed, justo wisi massa neque. Viverra lacinia, phasellus scelerisque sit iaculis diam, tellus metus libero nec malesuada duis, leo wisi. Cursus ipsum nam blandit, diam neque, tincidunt nunc at pellentesque vestibulum, penatibus elit non mollis tempor eleifend ante. Massa velit duis adipiscing nam, placerat quam, in proin maecenas magna suscipit justo ac. Pharetra vel sit, eu sit eu, varius volutpat, quisque nam. Imperdiet imperdiet libero dui sodales, id enim ipsum vitae nec lacus curabitur, elementum tempor dignissim suscipit. Wisi pretium erat mauris, ultricies rutrum wisi rhoncus mauris erat. Aliquam labore ullamcorper lacinia turpis lectus, integer malesuada ipsum velit, etiam eget malesuada wisi felis, dui pulvinar dui, tellus justo in pretium lorem ut. Tempor dolor vivamus hendrerit quam suspendisse, nec libero lorem condimentum in molestie quam, varius augue erat interdum. Velit sed orci quam libero curabitur eu, faucibus consequat gravida fames integer ut semper, tortor risus porta risus.

Vel vel tellus neque, diam varius pretium duis tempus vestibulum lacus, blandit sit eleifend, amet scelerisque, morbi eros. Vel leo et, elit in. Aliquam non ut, ut mauris rhoncus, orci nec eu erat morbi aliquam justo, inceptos wisi cursus vestibulum in. Eleifend ut purus vulputate cras ipsum, sed sodales ac wisi, mauris vestibulum nulla ut sed vel mauris, sapien pellentesque tempor. Duis bibendum arcu, maecenas quam tellus nulla sit massa, luctus donec tellus mauris morbi velit, potenti sit viverra amet etiam magna. Pede etiam sodales egestas magna, mi mattis diam volutpat enim, deserunt magni nec scelerisque sed nulla sit, dignissim aliquam urna porttitor imperdiet porta elit, vel sem non hac blandit tempor. Justo gravida justo, integer per integer pede mauris eros eu. Risus repellat integer vestibulum nulla ipsum, posuere quis turpis. Dolor eu vitae quam. Pede eu nascetur ipsum erat ac, vel vitae.]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/insuring-older-buildings-requires-expertise/ Mon, 10 Sep 2012 00:32:22 +0000 Robert Broker http://www.plumtreeagency.com/index.php?do=/profile-4/blog/risk-management-redux/ always maintained that good risk management doesn’t have to be resource intensive, difficult for SMBs to undertake or insurance brokers to prov...]]> always maintained that good risk management doesn’t have to be resource intensive, difficult for SMBs to undertake or insurance brokers to provide to their clients. With a little formalization, structure and a strong understanding of your organization, risk management planning can be rewarding.

Risk management does require some investment of time and money but it does not need to be substantial to be effective. In fact it will be more likely to be employed and maintained if it is implemented gradually over time. The key is to have a basic understanding of the process and to move towards its implementation.

That is exactly why we have developed our newest whitepaper: The Risk Management Process.

There are many different risk management models available. Often times these models are unnecessarily complicated or written for an academic audience. We’ve developed this whitepaper from industry best practices and experience and in a way to which business people can relate.

In summary, the five steps in the risk management process are:

1. Identify Potential Risks: What can possibly go wrong?

2. Measure Frequency and Severity: What is the likelihood of the risk occurring and if so what is the impact?

3. Examine Alternative Solutions: What are the potential ways to treat the risk and of these, which strikes the best balance between being affordable and effective?

4. Decide Which Solution to Use and Implement it: Find the needed resources, get the necessary buy-in and pull the trigger.

5. Monitor Results: Is your plan working? Are changes or updates required?

The whitepaper explains each of these steps in detail so you can move towards implementing a risk management plan. Click to view the free whitepaper on the Risk Management Process. Go to google.]]> http://www.plumtreeagency.com/index.php?do=/profile-4/blog/risk-management-redux/ Thu, 07 Jun 2012 21:33:38 +0000 Robert Broker