This document summarizes commercial umbrella liability insurance policies. Umbrella policies provide additional liability insurance coverage over primary policies for costs from large jury awards. They have large deductibles equal to primary policy limits, making premiums relatively inexpensive. True umbrella policies may cover exposures not covered by primary policies, with their own terms and deductible. Excess liability policies similarly provide additional coverage but follow primary policy terms. Factors like separate deductibles and page length can distinguish umbrella from excess policies.
This document discusses commercial umbrella liability insurance. It provides the following key points in 3 sentences:
Umbrella policies provide liability coverage over primary policies like general liability and auto liability, sitting above underlying policy limits to provide additional coverage. They offer higher coverage limits at a more affordable cost than buying those limits separately. True umbrella policies may also cover claims not covered by primary policies, but many policies labeled as "umbrellas" are actually excess policies that only provide coverage if the underlying policy also covers it.
This document provides an overview of various types of commercial insurance policies and concepts, including:
- Commercial Package Policies that bundle various coverage parts like general liability, property, and business income.
- The distinction between first-party insurance that pays the policyholder, and third-party insurance that pays others.
- The importance of reading the policy (RTFP) to understand what is and isn't covered, including any sub-limits or exclusions.
- Differences between excess policies, umbrellas, towers of coverage, and how policies may follow-form or have standalone terms.
- Concepts of self-insurance, large deductible plans, captives, reinsurance, fronting
Diminishing limit policies, which count defense costs against the policy's liability limit, create challenges for insurers, defense counsel, and policyholders. They require insurers to carefully handle claims to avoid exhausting limits and expose them to bad faith claims. Defense counsel may face conflicts of interest as their duty is to the policyholder but costs hurt limits. Policyholders need frequent updates on remaining limits as multiple claims could exhaust aggregate coverage. Insurance agents must ensure clients understand these risks when purchasing diminishing limit policies.
Self-Insured Retentions Part 2: An Examination of the Uses and Problems (from...NationalUnderwriter
This second and concluding part of the discussion on self-insured retentions first itemizes the points that should be
considered when either drafting or accepting SIRs. The discussion then addresses some additional problem areas not only with self-insured retentions having to do with primary liability policies, but also with the SIR feature of umbrella policies. It is not unusual, furthermore, for litigants, among others, to confuse deductibles with self-insured retentions, and there are differences, as one case discussed points out. In light of the fact that self-insured retentions also are growing, it also is important that parties to a contract are informed of their existence. To not do so, could end up with the accusation of failure to procure the proper insurance and, of course, such a breach is not covered by liability policies. It is for this reason that perhaps insurance certificates should be amended to insert room to notify (and warn) certificate holders of an SIR existence.
The document discusses the differences between occurrence-based and claims-made medical malpractice insurance. Occurrence-based insurance provides unlimited coverage for any claims that occur during the policy period, even if reported later. Claims-made insurance only covers claims that both occur and are reported during the active policy period, unless tail coverage is purchased. Tail coverage extends reporting timelines but is expensive, with costs increasing each year. Over time, premiums for claims-made insurance typically exceed those of occurrence-based policies due to increasing liability exposure. Proper due diligence is important when evaluating and switching between these policy types.
In this risk retention piece, we provide updates to how the final rule under Dodd-Frank applies to CLOs. We cover the permissible forms of risk retention and financing options for the risk retention obligation among other things.
Fronting allows a surety company to issue bonds for clients operating in territories where the surety is not licensed. The surety relies on a local "fronting company" that is licensed in that territory. This process is complex, as the legal environments and business practices differ between territories. Fronting requires thorough analysis of the underlying contract and bond terms. Alternatively, facultative reinsurance involves a ceding company offering a single risk to a reinsurer. It is a less manual process than fronting. Fronting retains 100% of the risk for the reinsurer unless local laws require risk sharing, while facultative reinsurance risk sharing is negotiable. Fronting fees make it generally more expensive than facultative reinsurance
Captives are insurance companies owned by their insureds that provide tailored coverage and help stabilize insurance costs. Forming a captive can reduce operating costs through eliminating normal insurer overhead and realizing investment income. The key advantages are reduced costs, investment income, broader coverage, pricing stability, and increased control over the risk management process. However, captives also require capitalization and ongoing administrative costs to operate successfully.
This document discusses commercial umbrella liability insurance. It provides the following key points in 3 sentences:
Umbrella policies provide liability coverage over primary policies like general liability and auto liability, sitting above underlying policy limits to provide additional coverage. They offer higher coverage limits at a more affordable cost than buying those limits separately. True umbrella policies may also cover claims not covered by primary policies, but many policies labeled as "umbrellas" are actually excess policies that only provide coverage if the underlying policy also covers it.
This document provides an overview of various types of commercial insurance policies and concepts, including:
- Commercial Package Policies that bundle various coverage parts like general liability, property, and business income.
- The distinction between first-party insurance that pays the policyholder, and third-party insurance that pays others.
- The importance of reading the policy (RTFP) to understand what is and isn't covered, including any sub-limits or exclusions.
- Differences between excess policies, umbrellas, towers of coverage, and how policies may follow-form or have standalone terms.
- Concepts of self-insurance, large deductible plans, captives, reinsurance, fronting
Diminishing limit policies, which count defense costs against the policy's liability limit, create challenges for insurers, defense counsel, and policyholders. They require insurers to carefully handle claims to avoid exhausting limits and expose them to bad faith claims. Defense counsel may face conflicts of interest as their duty is to the policyholder but costs hurt limits. Policyholders need frequent updates on remaining limits as multiple claims could exhaust aggregate coverage. Insurance agents must ensure clients understand these risks when purchasing diminishing limit policies.
Self-Insured Retentions Part 2: An Examination of the Uses and Problems (from...NationalUnderwriter
This second and concluding part of the discussion on self-insured retentions first itemizes the points that should be
considered when either drafting or accepting SIRs. The discussion then addresses some additional problem areas not only with self-insured retentions having to do with primary liability policies, but also with the SIR feature of umbrella policies. It is not unusual, furthermore, for litigants, among others, to confuse deductibles with self-insured retentions, and there are differences, as one case discussed points out. In light of the fact that self-insured retentions also are growing, it also is important that parties to a contract are informed of their existence. To not do so, could end up with the accusation of failure to procure the proper insurance and, of course, such a breach is not covered by liability policies. It is for this reason that perhaps insurance certificates should be amended to insert room to notify (and warn) certificate holders of an SIR existence.
The document discusses the differences between occurrence-based and claims-made medical malpractice insurance. Occurrence-based insurance provides unlimited coverage for any claims that occur during the policy period, even if reported later. Claims-made insurance only covers claims that both occur and are reported during the active policy period, unless tail coverage is purchased. Tail coverage extends reporting timelines but is expensive, with costs increasing each year. Over time, premiums for claims-made insurance typically exceed those of occurrence-based policies due to increasing liability exposure. Proper due diligence is important when evaluating and switching between these policy types.
In this risk retention piece, we provide updates to how the final rule under Dodd-Frank applies to CLOs. We cover the permissible forms of risk retention and financing options for the risk retention obligation among other things.
Fronting allows a surety company to issue bonds for clients operating in territories where the surety is not licensed. The surety relies on a local "fronting company" that is licensed in that territory. This process is complex, as the legal environments and business practices differ between territories. Fronting requires thorough analysis of the underlying contract and bond terms. Alternatively, facultative reinsurance involves a ceding company offering a single risk to a reinsurer. It is a less manual process than fronting. Fronting retains 100% of the risk for the reinsurer unless local laws require risk sharing, while facultative reinsurance risk sharing is negotiable. Fronting fees make it generally more expensive than facultative reinsurance
Captives are insurance companies owned by their insureds that provide tailored coverage and help stabilize insurance costs. Forming a captive can reduce operating costs through eliminating normal insurer overhead and realizing investment income. The key advantages are reduced costs, investment income, broader coverage, pricing stability, and increased control over the risk management process. However, captives also require capitalization and ongoing administrative costs to operate successfully.
- Small and large businesses are increasingly forming "profit center captives" as a way to profit from risk by selling insurance products like warranties to their customers.
- Large companies like Verizon and Walmart have been successfully selling insurance products to customers for years, realizing new profits. These small insurance programs within larger companies are called "profit center captives".
- Profit center captives allow companies to take on third-party risks from customers or other external parties, converting those premiums paid into new revenue streams and profits for the company. They provide benefits like strengthening customer relationships and diversifying revenue.
Optimal Diversification of Catastrophe Bond and Collateralized Reinsurance Po...Sean Stephens
This document provides an overview of catastrophe bonds (CAT bonds) and their role in providing insurers access to external capital markets. CAT bonds are securities whose value is based on insurable loss events. They allow large investors to assume high layers of insurance risk in exchange for returns. The document describes the structure of CAT bonds, including the use of special purpose reinsurers and different types of triggers that determine payout conditions. It aims to provide context for discussing optimal strategies for diversifying CAT bond portfolios given constraints in the market.
Michael Marick - Breaking down barriers in policyholder- insurer disputes ove...Michael Marick
Corporate policyholders/insureds who have been sued share a common interest with their liability insurers—successfully defending those lawsuits. Yet insureds and insurers often disagree on the choice of defense counsel and how much the insurer must pay toward legal bills. These disputes are costly and, in most instances, can be avoided.
The document discusses captives, which are special purpose insurance companies that insure the risks of their owners. It provides an overview of what captives are, their history and growth, types of captives, benefits of using a captive compared to commercial insurance, considerations for utilizing a captive such as ownership structure and domicile selection, and functions related to managing a captive.
3) Principles and Practice of ReinsuranceKity Cullen
The document discusses the principles and practice of reinsurance. It covers three main topics: 1) the reinsurance needs of direct insurers in terms of protecting solvency and reducing variability of outcomes, 2) the forms and methods of placing reinsurance, including proportional and non-proportional reinsurance, and 3) reinsurance practices and problems, such as the effects of inflation and floating exchange rates on reinsurance business.
This document discusses reinsurance contracts that life insurance companies can use to mitigate risk. It describes different types of reinsurance contracts, including quota share reinsurance where claims are shared proportionally, and surplus reinsurance where the reinsurer pays claims above an agreed amount. The document also discusses how reinsurance allows insurers to comply with solvency regulations by reducing risk exposure, and how diversifying reinsurance among multiple companies can help mitigate the risk of a single reinsurer defaulting, though reinsurers still face common risks.
This presentation discusses reinsurance and its role in the insurance industry. Reinsurance allows insurance companies to transfer some of the risks they insure to other insurers, similar to how individuals purchase insurance policies. This helps insurance companies compensate for future losses from claims and stabilize their loss experience. The presentation defines reinsurance and outlines the various parties involved, methods used, benefits, and some challenges for reinsurance in India.
- Insurance companies provide insurance policies to policyholders in exchange for premium payments. The policies are legally binding contracts where the insurance company agrees to pay specified sums if future events occur, such as death or an accident.
- Insurance companies accept the risk from policyholders in exchange for premiums. They determine which applications to accept and how much to charge through underwriting. Premiums provide stable revenue while payments to policyholders are the major expense.
- There are various types of insurance like life, health, property & casualty, liability, and investment-oriented products. Insurance companies combine these types of insurance in different ways and are regulated at the state level in the US.
This document discusses various types of long-term debt instruments, preferred stock, and common stock. It defines key terms related to bonds such as par value, coupon rate, maturity, and bond ratings. It describes different types of bonds including debentures, subordinated debentures, income bonds, junk bonds, mortgage bonds, and equipment trust certificates. The document also discusses preferred stock features like cumulative and participating dividends. Finally, it covers common stock terms like authorized shares, issued shares, outstanding shares, book value, and liquidating value.
This document provides an introduction and overview of key concepts in reinsurance. It defines reinsurance as a form of insurance where one insurer takes on risks ceded from another insurer. There are two main types of reinsurance treaties - pro rata, where risks and premiums are shared proportionally, and excess of loss, where the reinsurer is liable for losses over a predetermined retention amount. The document outlines the language, participants, methods, pricing and contract elements of reinsurance agreements.
LifeHealthPro - Heres why cash value life insurance is a superior productJose Ariel Taveras
The document discusses the advantages of cash value life insurance over term life insurance and other financial assets. It outlines three main categories of advantages for cash value life insurance: 1) Tax advantages, such as tax-free growth of cash value and tax-free death benefits; 2) Financial advantages, as life insurance is designed using actuarial models to provide guarantees and potential increases in death benefits; and 3) Legal advantages, like state legal protections and guarantees of insurers. The document promotes cash value life insurance as a superior financial product compared to alternatives due to these inherent advantages.
This article discusses the problems that may arise when a blanket additional insured endorsement is attached to the commercial general liability coverage form.
The reason for blanket additional insured endorsements for use with commercial general liability coverage forms is to eliminate the insurer’s necessity of having to issue individual endorsements (or in the insurance vernacular, scheduled endorsements). That, in fact, is the only advantage because the needs of additional insureds vary and so too, does the nature of the coverage. In other words, a blanket endorsement is not necessarily suited for all persons or organizations requiring additional insured coverage.
An erroneous point about the blanket additional insured endorsement is that it is broad in scope. That is not true! They can be broad if they are amended to fit the needs of a particular class of risks. These endorsements, however, usually are very limited. Another point about the blanket additional insured endorsement is that it will contain more verbiage than a scheduled endorsement, because underwriters will not be underwriting each additional insured request, and out of necessity, must add provisions such as a professional liability exclusion whether such an exposure exists or not.
The document discusses the duty of utmost good faith in reinsurance contracts. It states that this duty requires high levels of honesty and disclosure between the ceding insurer and reinsurer. The ceding insurer must disclose all material facts to the reinsurer during contract formation and ongoing administration of the contract. The duty is mutual, so the reinsurer must also deal fairly with the ceding insurer. While some see it as a fiduciary duty, most courts treat it as a very high standard of good faith just below fiduciary duty. The requirements of the duty may be higher for treaty reinsurance, where the reinsurer relies more heavily on the ceding insurer.
The document discusses various alternative risk financing strategies such as captive insurance, outlining key factors to consider when selecting a strategy, how captives are formed and structured, regulatory requirements for different captive types, and the multi-step process for establishing a captive insurance company.
1) The document discusses using insurance as part of the default waterfall for central counterparties (CCPs). It argues that insurance can help absorb credit losses and provide liquidity if structured properly.
2) It proposes an insurance consortium made up of diversified insurers to mitigate single counterparty risk. The consortium would have clear policy wording and designated managers with expertise in clearing.
3) Insurance could be cost-effective for CCPs if placed correctly in the default waterfall. Bringing in the claims-paying ability of insurers could strengthen the financial system overall.
The document discusses various aspects of insurance companies, including their key operations. It begins by describing how insurance companies handled claims from the 2005 Mumbai floods. It then discusses the main operations of insurance companies, including rate making, underwriting, production (sales), claims settlement, reinsurance, and investments. Insurance companies collect premiums, pay claims, and invest premiums to earn income. They distribute policies through agents or direct selling. Reinsurance allows risks to be shared between insurers.
The document outlines strategies for captive insurance for high net-worth clients, including an overview of captive insurance structures and domiciles. It discusses pure captives, group captives, rent-a-captives and protected cell captives. Key considerations for captive insurance include tax strategies under IRS revenue rulings and using captives for estate planning.
Why life insurance has evolved into a piece of investment diversificationCBIZ, Inc.
This CBIZ Whitepaper explores reasons why life insurance has evolved into a piece of investment diversification – that is, a product worthy of being described as a “Separate Investment Class.”
1) Yasuo Hamanaka of Sumitomo Corporation manipulated the copper market through large derivative trades, accumulating massive hidden losses over several years.
2) In 1995, changing market conditions caused copper prices to drop, exposing Sumitomo's huge long positions and resulting in over $1.8 billion in losses for the company.
3) The scandal revealed lax management and a lack of independent oversight at Sumitomo that allowed Hamanaka to dominate copper trading without detection of his risky derivative strategies. It showed the need for stricter regulation of derivatives and corporate transparency.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In a single sentence, it pitches the idea of using Haiku Deck to easily design presentations.
- Small and large businesses are increasingly forming "profit center captives" as a way to profit from risk by selling insurance products like warranties to their customers.
- Large companies like Verizon and Walmart have been successfully selling insurance products to customers for years, realizing new profits. These small insurance programs within larger companies are called "profit center captives".
- Profit center captives allow companies to take on third-party risks from customers or other external parties, converting those premiums paid into new revenue streams and profits for the company. They provide benefits like strengthening customer relationships and diversifying revenue.
Optimal Diversification of Catastrophe Bond and Collateralized Reinsurance Po...Sean Stephens
This document provides an overview of catastrophe bonds (CAT bonds) and their role in providing insurers access to external capital markets. CAT bonds are securities whose value is based on insurable loss events. They allow large investors to assume high layers of insurance risk in exchange for returns. The document describes the structure of CAT bonds, including the use of special purpose reinsurers and different types of triggers that determine payout conditions. It aims to provide context for discussing optimal strategies for diversifying CAT bond portfolios given constraints in the market.
Michael Marick - Breaking down barriers in policyholder- insurer disputes ove...Michael Marick
Corporate policyholders/insureds who have been sued share a common interest with their liability insurers—successfully defending those lawsuits. Yet insureds and insurers often disagree on the choice of defense counsel and how much the insurer must pay toward legal bills. These disputes are costly and, in most instances, can be avoided.
The document discusses captives, which are special purpose insurance companies that insure the risks of their owners. It provides an overview of what captives are, their history and growth, types of captives, benefits of using a captive compared to commercial insurance, considerations for utilizing a captive such as ownership structure and domicile selection, and functions related to managing a captive.
3) Principles and Practice of ReinsuranceKity Cullen
The document discusses the principles and practice of reinsurance. It covers three main topics: 1) the reinsurance needs of direct insurers in terms of protecting solvency and reducing variability of outcomes, 2) the forms and methods of placing reinsurance, including proportional and non-proportional reinsurance, and 3) reinsurance practices and problems, such as the effects of inflation and floating exchange rates on reinsurance business.
This document discusses reinsurance contracts that life insurance companies can use to mitigate risk. It describes different types of reinsurance contracts, including quota share reinsurance where claims are shared proportionally, and surplus reinsurance where the reinsurer pays claims above an agreed amount. The document also discusses how reinsurance allows insurers to comply with solvency regulations by reducing risk exposure, and how diversifying reinsurance among multiple companies can help mitigate the risk of a single reinsurer defaulting, though reinsurers still face common risks.
This presentation discusses reinsurance and its role in the insurance industry. Reinsurance allows insurance companies to transfer some of the risks they insure to other insurers, similar to how individuals purchase insurance policies. This helps insurance companies compensate for future losses from claims and stabilize their loss experience. The presentation defines reinsurance and outlines the various parties involved, methods used, benefits, and some challenges for reinsurance in India.
- Insurance companies provide insurance policies to policyholders in exchange for premium payments. The policies are legally binding contracts where the insurance company agrees to pay specified sums if future events occur, such as death or an accident.
- Insurance companies accept the risk from policyholders in exchange for premiums. They determine which applications to accept and how much to charge through underwriting. Premiums provide stable revenue while payments to policyholders are the major expense.
- There are various types of insurance like life, health, property & casualty, liability, and investment-oriented products. Insurance companies combine these types of insurance in different ways and are regulated at the state level in the US.
This document discusses various types of long-term debt instruments, preferred stock, and common stock. It defines key terms related to bonds such as par value, coupon rate, maturity, and bond ratings. It describes different types of bonds including debentures, subordinated debentures, income bonds, junk bonds, mortgage bonds, and equipment trust certificates. The document also discusses preferred stock features like cumulative and participating dividends. Finally, it covers common stock terms like authorized shares, issued shares, outstanding shares, book value, and liquidating value.
This document provides an introduction and overview of key concepts in reinsurance. It defines reinsurance as a form of insurance where one insurer takes on risks ceded from another insurer. There are two main types of reinsurance treaties - pro rata, where risks and premiums are shared proportionally, and excess of loss, where the reinsurer is liable for losses over a predetermined retention amount. The document outlines the language, participants, methods, pricing and contract elements of reinsurance agreements.
LifeHealthPro - Heres why cash value life insurance is a superior productJose Ariel Taveras
The document discusses the advantages of cash value life insurance over term life insurance and other financial assets. It outlines three main categories of advantages for cash value life insurance: 1) Tax advantages, such as tax-free growth of cash value and tax-free death benefits; 2) Financial advantages, as life insurance is designed using actuarial models to provide guarantees and potential increases in death benefits; and 3) Legal advantages, like state legal protections and guarantees of insurers. The document promotes cash value life insurance as a superior financial product compared to alternatives due to these inherent advantages.
This article discusses the problems that may arise when a blanket additional insured endorsement is attached to the commercial general liability coverage form.
The reason for blanket additional insured endorsements for use with commercial general liability coverage forms is to eliminate the insurer’s necessity of having to issue individual endorsements (or in the insurance vernacular, scheduled endorsements). That, in fact, is the only advantage because the needs of additional insureds vary and so too, does the nature of the coverage. In other words, a blanket endorsement is not necessarily suited for all persons or organizations requiring additional insured coverage.
An erroneous point about the blanket additional insured endorsement is that it is broad in scope. That is not true! They can be broad if they are amended to fit the needs of a particular class of risks. These endorsements, however, usually are very limited. Another point about the blanket additional insured endorsement is that it will contain more verbiage than a scheduled endorsement, because underwriters will not be underwriting each additional insured request, and out of necessity, must add provisions such as a professional liability exclusion whether such an exposure exists or not.
The document discusses the duty of utmost good faith in reinsurance contracts. It states that this duty requires high levels of honesty and disclosure between the ceding insurer and reinsurer. The ceding insurer must disclose all material facts to the reinsurer during contract formation and ongoing administration of the contract. The duty is mutual, so the reinsurer must also deal fairly with the ceding insurer. While some see it as a fiduciary duty, most courts treat it as a very high standard of good faith just below fiduciary duty. The requirements of the duty may be higher for treaty reinsurance, where the reinsurer relies more heavily on the ceding insurer.
The document discusses various alternative risk financing strategies such as captive insurance, outlining key factors to consider when selecting a strategy, how captives are formed and structured, regulatory requirements for different captive types, and the multi-step process for establishing a captive insurance company.
1) The document discusses using insurance as part of the default waterfall for central counterparties (CCPs). It argues that insurance can help absorb credit losses and provide liquidity if structured properly.
2) It proposes an insurance consortium made up of diversified insurers to mitigate single counterparty risk. The consortium would have clear policy wording and designated managers with expertise in clearing.
3) Insurance could be cost-effective for CCPs if placed correctly in the default waterfall. Bringing in the claims-paying ability of insurers could strengthen the financial system overall.
The document discusses various aspects of insurance companies, including their key operations. It begins by describing how insurance companies handled claims from the 2005 Mumbai floods. It then discusses the main operations of insurance companies, including rate making, underwriting, production (sales), claims settlement, reinsurance, and investments. Insurance companies collect premiums, pay claims, and invest premiums to earn income. They distribute policies through agents or direct selling. Reinsurance allows risks to be shared between insurers.
The document outlines strategies for captive insurance for high net-worth clients, including an overview of captive insurance structures and domiciles. It discusses pure captives, group captives, rent-a-captives and protected cell captives. Key considerations for captive insurance include tax strategies under IRS revenue rulings and using captives for estate planning.
Why life insurance has evolved into a piece of investment diversificationCBIZ, Inc.
This CBIZ Whitepaper explores reasons why life insurance has evolved into a piece of investment diversification – that is, a product worthy of being described as a “Separate Investment Class.”
1) Yasuo Hamanaka of Sumitomo Corporation manipulated the copper market through large derivative trades, accumulating massive hidden losses over several years.
2) In 1995, changing market conditions caused copper prices to drop, exposing Sumitomo's huge long positions and resulting in over $1.8 billion in losses for the company.
3) The scandal revealed lax management and a lack of independent oversight at Sumitomo that allowed Hamanaka to dominate copper trading without detection of his risky derivative strategies. It showed the need for stricter regulation of derivatives and corporate transparency.
This short document promotes creating presentations using Haiku Deck, a tool for making slideshows. It encourages the reader to get started making their own Haiku Deck presentation and sharing it on SlideShare. In a single sentence, it pitches the idea of using Haiku Deck to easily design presentations.
The document provides a summary of key facts about India, including its geography, history, culture, and achievements. It notes that India is home to over 1 billion people and has a 5000 year old civilization. It highlights several important figures in India's history like Mahatma Gandhi and its contributions to fields like mathematics. The summary also briefly outlines India's diverse cultural landscape, which includes various classical dance forms, languages, festivals, and religious sites of historical importance across the country.
DHRIM Workshops provides various workshops focused on personal development and technical skills. They design workshops according to client needs covering topics such as lateral thinking, conscious creating, social leadership, inner management, and strategic planning. Workshops are delivered using constructive teaching methods and real case studies. DHRIM has designed and delivered workshops for organizations in multiple countries.
This survey summarizes workers' compensation issues for approximately 600 respondents from various industries and company sizes. It finds that the top three most effective methods for controlling workers' compensation costs are instilling a safety-minded culture, having a light duty return to work policy, and providing an overall return to work policy. Additionally, over 75% of respondents have a written safety manual, with 85% reviewing them at least every two years. Respondents' greatest insurance concerns for 2016 are cost control, increasing exposures, and risk control.
This document provides an overview of consumer behavior concepts from a chapter in a marketing textbook. It defines consumer behavior as the acquisition, consumption, and disposition of goods, services, time and ideas by human decision-making units. It notes that consumer behavior is influenced by psychological, social, cultural and situational factors and involves conscious and unconscious decisions. The document also discusses the importance of understanding consumer behavior for market segmentation, customer relationship management and positioning strategies.
International Consultancies provides organizational development, new business startups, personal development training, and technical training services to its clients. Some of its key organizational development services include implementing strategies and processes to increase efficiency, redesigning information systems, and training personnel on changes. It also specializes in starting up new organizations, developing them until financial sustainability is achieved. International Consultancies aims to create positive change opportunities for organizations through its expert consultant network.
This document provides a year-end summary of significant developments that businesses should be aware of, including extreme weather events and natural disasters throughout the US in 2015. It also discusses the challenges that marijuana legalization poses for employers, such as impairment issues, accommodation requirements, and potential litigation. Additionally, it notes that wage and hour lawsuits have reached record levels in recent years due to outdated labor laws not applying well to modern workplaces.
This newsletter discusses issues related to employee criminal records and insurance coverage. It notes that a large percentage of the US population has a criminal record, including for minor offenses from their youth. When hiring employees with criminal records, employers face increased risks of employee theft or dishonesty that may not be covered by insurance. Insurance policies often exclude coverage for losses caused by employees who committed prior dishonest acts that were known to the employer. The newsletter provides advice on how employers can address this issue and ensure they have proper insurance coverage even when hiring employees with criminal histories.
This document discusses factors that influence a consumer's motivation, ability, and opportunity to make purchase decisions. It covers 4 types of influences on motivation, including needs, goals, perceived risk, and consistency with attitudes. Ability is affected by resources like time, money, knowledge, and age. Opportunity refers to what allows information processing, like available time, distractions, and control over information. The overall topic is understanding what drives consumer behavior.
Este documento proporciona una lista de cursos talleres creados por DHRIM enfocados en el desarrollo personal y organizacional. Los cursos cubren temas como pensamiento lateral, proceso de muerte consciente, creación consciente, eneagrama de la personalidad, entre otros. Además, DHRIM crea cursos técnicos según los requerimientos de sus clientes en diversos países.
This document discusses key concepts around how consumers are exposed to and perceive marketing stimuli. It covers factors that influence exposure like ad placement and shelf positioning. It then examines how attention works and ways to attract and sustain attention, such as through pleasant, surprising, or easy-to-process stimuli. The document also reviews the five senses and how marketer can affect sensory perceptions. Finally, it analyzes the comprehension process and how marketing elements like brand names, price, advertising and more can influence consumer inferences.
Umbrella policies provide additional liability coverage beyond the limits of underlying home, auto, and business insurance policies. They increase coverage by $1 million or more and kick in after underlying limits are exhausted. While umbrella policies suggest broad protection, their coverage is typically no broader than underlying policies, and exclusions may also apply to umbrella coverage. Umbrella policies require maintaining minimum underlying liability limits and may impose additional deductibles if those underlying limits are not met. They can also help cover defense costs if the underlying policy is exhausted.
Learning About Your Insurance Policy.pdfIGI general
The document discusses the key components of an insurance policy, including:
- The declarations page that specifies the insured, risks covered, policy limits, and duration.
- The insuring agreement that lists what is covered and the insurer's guarantees to pay damages for covered risks.
- Exclusions that list risks, losses, or assets not covered by the policy.
- Conditions that limit the insurer's obligations and require steps like submitting proof of loss.
- Definitions that explain important terms used in the policy.
- Riders and endorsements that can modify the original policy when renewed. Thoroughly reviewing all components helps policyholders understand their obligations and coverage.
The document discusses Errors & Omissions / Directors & Officers Liability Insurance for hedge funds. It covers what the policy insures (claims from investors, regulators for negligent acts), who is insured (investment manager, individuals, funds), the policy structure (declarations, forms, parts covering investment manager E&O, D&O, fund E&O/D&O), and key details like claims-made structure, prior acts coverage, limits, retentions, defense process, exclusions and underwriting factors.
The document discusses different parts of an insurance policy, including:
- The insuring agreement, which outlines what risks the insurer will cover in exchange for premiums.
- Exclusions, which describe losses or causes that are not covered under the policy. Reading only the insuring agreement may lead one to believe they have coverage that is excluded.
- Conditions, which outline obligations of both the insurer and insured, such as how to file a claim, valuation of property, cancellation and renewal terms.
- Declarations page, which provides a summary of policy details including limits, costs, parties. It is important to check for errors.
The document emphasizes understanding what one's policy actually covers to
D&O Insurance - Become a Knowledgeable BuyerCraig Tappel
When serving as a board member for a corporation or non-profit, question the Management Liability policy limits and the coverage. They must be sufficient to protect both the entity and your personal assets.
This document summarizes a lecture on the general business environment for life assurance companies. It discusses how the economic, legal, regulatory, and professional environments can impact insurer expenses, risk levels, and opportunities. Specifically, it notes that inflation can influence expenses, developing or volatile economies present higher risks, and legal/regulatory changes may constrain product design or contract terms over long time periods.
The document discusses unfair terms in consumer insurance policies. It defines unfair terms as clauses that create an unjust relationship between the insurer and policyholder by being hidden, unclear, or not properly explained. Unfair terms are prohibited by consumer protection laws in many countries. The document outlines examples of unfair terms, consequences of unfair terms like legal disputes and loss of trust, and liabilities for insurance companies that use unfair terms like regulatory fines and reputation damage. It concludes with best practices for insurance companies to promote fairness, such as avoiding discrimination, using clear policy language, and educating consumers.
Aviva index universal life insurance crediting interest to your cash valueConnie Dello Buono
Aviva index universal life insurance crediting interest to your cash value..connie dello buono CA Life Lic 0G60621 408-854-1883 motherhealth@gmail.com Greater Bay area
Basics of insurance and investment terms seminar ongoing...
This document discusses contractual obligations that companies take on to notify customers and pay costs associated with a data breach when working with third party vendors. There are two common types of obligations: 1) To make the client company whole for any costs associated with a breach, including notification and credit monitoring. However, insurance policies may not cover all costs and the vendor loses negotiating power. 2) To directly notify customers on behalf of the client company. But most policies only cover notification required by law, not contracts. Not all policies cover costs associated with contractual notification obligations. Insureds need to carefully review policies and obligations to ensure coverage aligns with contractual responsibilities in the event of a breach.
FIN 3610 General InsuranceChapter 6 – Insurance Company Operatio.docxssuser454af01
FIN 3610 General Insurance
Chapter 6 – Insurance Company Operations
Chapter 8 – Government Regulation of Insurance
Lecture Overview – Comments from Dr. Zietz
Insurance Company Operations and Government Regulation of InsuranceInsurance Company Operations
The information contained in this next lesson, which comes from Chapters 6 and 8, may be more fascinating to some of you if you already have a specific interest in a particular field of insurance. For example if you're in actuarial science major, you will like the right making section. Many students found they want to go into underwriting and there's a good portion of the chapter on the underwriting steps and different types of consideration to beginning the underwriting process. Some students know right away that they're interested in sales while others know for certain that is not their strong interest. The production side of insurance covers again some of the marketing topics that we had earlier, but it will also tell you how professional organizations, such as the CPCU Chartered Property and Casualty Underwriter and the CLU Chartered Life Underwriter, are among others that encourage professionals within the industry to continuously improve their skills and knowledge by completing professional designations.
Another area within the insurance industry that is fascinating and offers a great insight into many facets of the insurance process is claims settlement. There are various types of adjusters that are discussed in this chapter and the steps to the adjusting process is fairly structured. Entering the insurance industry through a claims position will provide insight into how the insurance industry can operate successfully.
Reinsurance is kind of a term that many young professionals are not fully able to grasp but it is a very key tool used to sustain the insurance industry. Reinsurance, as noted on slide 15, is an arrangement by which the primary insurer that initially writes the coverage transfers to another insurer part of those potential losses. The primary insurer is called the seating company, and the company that accepts that seeded risk is the reinsure. This process allows companies to increase their underwriting capacity and reduce their reserves which may be more optimally invested elsewhere.
Insurance Regulation
Chapter 8 brings up several very interesting topics concerning the purpose of regulating the insurance industry and how the regulation may be efficiently accomplished. I typically ask the classroom students “what is the main reason for insurance regulation?” Most of them, being new in their study of insurance, say it is to keep the prices down. Then I respond by asking: do you think we need regulation to ensure the price of groceries is kept at a certain level? Do you think the price of a car should be regulated by the federal government? So what makes insurance different that results in needing regulation that other industries do not need?
If you b ...
The insurance policy is a contract between the insurer and insured (policyholder) that determines what claims the insurer must pay. In exchange for a premium, the insurer promises to pay for losses covered under the policy language. Insurance policies have specific features not seen in other contracts to fulfill particular needs. The policy is generally an integrated agreement that includes all documents associated with the contract between insured and insurer.
Financial Guarantee 1[1] Music [Recovered] 5 01 09BPANGEL13
The document proposes a financial guarantee program for commercial and mixed-use real estate mortgages in Pennsylvania. It would provide down payment guarantees through surety bonds or policies, allowing borrowers to obtain full financing from lenders rather than pay a large down payment themselves. The program would benefit borrowers by avoiding draining their cash, lenders by enabling full loans with minimal added risk, insurers through premiums, and the state via increased real estate transactions stimulating the economy.
Successfully Reducing Insurance Costs
By Mel Feller, MPA, MHR
Mel Feller Seminars, Coaching For Success 360 Inc. /Mel Feller Coaching
Have you looked at your insurance costs lately? Chances are, your costs have gone up even if your coverage has remained the same. Insurance inflation is a hidden danger because you do not always pay those bills every month or pay them directly. In addition, when they do rise, there seems to be no practical way to control them. Let’s look at some major insurance categories to see where cost-cutting might be possible.
Standard Terms of Business and Non Standard TermsGary Chambers
This document provides an overview of standard and non-standard contracts from an insurance perspective. It discusses how insurers define the two types of contracts and how the differences affect insurance coverage. Standard contracts typically pass all liability to the hiring company, allowing lower premiums. Non-standard contracts vary and can pass liability back to the recruiting agency, requiring slightly higher premiums. The document outlines important clauses in contracts and insurance policies regarding liability and vicarious liability coverage for non-standard agreements.
This document provides an introduction to insurance and takaful. It explains that insurance transfers risk to an insurance company in exchange for premiums, while takaful is based on Islamic principles of mutual guarantee between participants. It outlines common types of insurance and takaful products and how to shop for and obtain plans. Key principles like insurable interest and utmost good faith are also discussed.
There are four main parties that make up the insurance market: buyers, sellers, intermediaries, and regulators. The buyers are individuals, businesses, organizations, and governments seeking insurance coverage. The sellers are insurance companies and reinsurance companies that provide insurance policies. Intermediaries such as agents and brokers facilitate business between buyers and sellers. Regulators like the Nigeria Insurance Association and Nigerian Council of Registered Insurance Brokers oversee the industry.
This document provides an overview of key concepts in insurance policies, including:
1. Policies are contracts between the insured and insurer that outline the agreement including coverage details, premium, and exceptions.
2. Cover notes and certificates provide interim proof of insurance until the full policy is issued.
3. Policies consist of definitions, conditions, clauses/warranties, exclusions, and schedules which make the coverage specific to each insured.
4. Warranties are promises by the insured that must be fulfilled, while breaches allow insurers to deny claims from the date of the breach. Exclusions specify risks the insurer will not cover.
Investment Advisors & Financial Professionals | Use Your Insurance as a Marke...The 401k Study Group ®
Presented by North American Professional Liability Insurance Agency, LLC (NAPLIA). The White Paper discusses how proactively using your insurance coverage as a marketing tool will help you.
1. Commercial Umbrella Liability Insurance
Most of our clients these days buy an umbrella or excess
liability policy. It’s a sensible thing to do, with multi-
million dollar jury awards becoming increasingly
commonplace. If you have any business relationships that
require you to provide evidence of insurance, like leases or
contracts for example, you’ll also see requirements for
high limits that can only be covered at reasonable cost by
an umbrella policy.
Umbrella policies sit over the policies that lie under them.
Typically, these will be, at minimum, your general and
auto liability policies, and the employers liability section of
your workers compensation policy. Other lines of
underlying insurance may also fall under the umbrella
depending on your particular situation. Since the umbrella
policy(ies) sit over these underlying policies and limits,
umbrella underwriters can’t offer a proposal until they
know what they are covering over. For that reason it will
usually be the last policy we arrange for you.
In terms of what they cover, umbrella policies can do two
things. Umbrella policies all provide additional insurance
limits over the primary underlying liability insurance
policies carried by the insured in the event that those
primary underlying limits are exhausted by one large loss
or several losses. These additional limits are the main
reason to buy these policies; it’s an economical way to buy
higher limits. Although the umbrella will cover over
several underlying policies, it has, in effect, a very large
deductible built in, equal to the limits of the underlying
polices. Large deductibles equal lower premiums, and with
required underlying limits typically starting at $1,000,000,
umbrella policies can be written relatively inexpensively.
True umbrella policies also offer another advantage. They
may provide coverage for liability exposures or claims that
might not be covered by the primary underlying policies.
This happens with true umbrellas because they are unique,
separate policies, with their own terms, conditions and
insuring agreements. Since these true umbrella policies
may drop down to provide some primary coverage in
limited circumstances, there will be a separate deductible
included for these types of claims; usually $10,000, it is
commonly described in the policy as a self-insured
retention(SIR).
The presence of an SIR in an umbrella quote is a pretty
good indicator that you are looking at a true umbrella
policy. Unfortunately, many policies commonly referred
to as “umbrella” policies these days really aren’t. The other
variation in these types of policies is properly called an
excess liability policy. These policies give you the same
advantage as umbrellas in terms of adding limits to
underlying policies. The difference is that they are written
on a “follow form” basis; if something is covered in an
underlying policy it will be covered in the excess liability
policy; if it’s not, it’s not.
That’s basically the insuring agreement in a true excess
liability policy, so it doesn’t take a lot of paper or verbiage
to write such a policy. That is a tip off you are looking at
an excess liability policy versus a true umbrella; it will only
have a few pages. And that’s a good rule of thumb to
distinguish between umbrellas and excess liability policies.
If the declaration pages show an SIR, it’s probably an
umbrella; if there are just a few pages to the policy, it’s
probably an excess liability policy. That rule will be pretty
accurate in the majority of cases.
So, why does all this make a difference? Both these types of
policies are still commonly referred to as “umbrellas”,
even though often they are not. The main reason people
buy either of these policies is to get higher limits cheaply,
and either will do that. When umbrella policies were first
developed decades ago there might have been some extra
coverage built in, but that’s mostly gone away by now.
Arguably, umbrella policies are less desirable right now; as
separate policies with their own terms and conditions they
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2. require separate analysis to make sure they mesh with
underlying policies; follow form policies make things
much easier. Either way, here are some things to be aware
of when buying one.
1. Pricing Variability
Pricing for these policies can vary widely. Umbrella policy
rating is almost entirely a matter of individual insurance
company and underwriter judgment, and market appetite
of the insurer. As long as you are dealing with financially
sound insurance companies, it pays to shop around. We
do this for you routinely.
2. Underlying coverage
Umbrella policy conditions usually call for maintenance
of underlying coverage. The umbrella insurer’s part in a
loss is determined as if the underlying policy were in
force, even if it’s not. The only exception is when an
underlying policy is totally exhausted by payment of loss,
in which case the umbrella policy “drops down” to replace
the exhausted underlying protection. In some umbrellas
drop-down coverage also may become effective if the
primary insurer is insolvent. In any event, remember, if an
underlying policy is not scheduled in the umbrella policy
declarations, there is probably no coverage in the
umbrella, and certainly no coverage in a follow form
excess liability policy.
3. Defense coverage
A significant variation in policies has to do with defense
coverage. Almost all umbrella liability contracts have
provisions that, in effect, protect the right of the umbrella
insurer to take over or participate in the defense of a claim
that it may become involved in. Also, some contracts
include defense coverage of losses when, because the
underlying insurance is exhausted by the loss payment,
the umbrella policy comes in as primary coverage. Some
policies may include defense and appeal costs within the
limits of coverage while others provide them as
supplementary payments outside the limits of coverage.
4. Additional insured
Any additional insured under any policy of underlying
insurance should automatically be an insured under the
umbrella policy. The coverage isn’t any broader than the
coverage provided by the underlying insurance.
5. Indemnity or pay-on-behalf-of policy
Indemnity policies only require the insurer to make
payment to the insured after the insured has first paid
for covered damages or expenses. The language
requires you to use your own money first and then seek
reimbursement from the insurance company. With the
far better pay-on-behalf-of policy the insurer promises
to pay damages on behalf of the insured; the
policyholder does not have to write any checks.
Expenses for defense are normally paid by the insurer
as they are incurred if the umbrella insurer has taken
over defense, even with a pay-on-behalf-of policy.
6. Exclusions
Both umbrella and excess liability policies can contain
exclusions not found in underlying policies. Don’t
assume that if something is covered in the underlying
policies the umbrella also covers; look for any added
exclusions.
An umbrella (or excess liability) policy might be right
for you, but be sure you understand what the policy
covers and what it excludes before buying. Like all
things about insurance, it’s not a simple purchase.
Surplus Lines Policy Disclosure Language -
What Does It Mean?
It’s more common than ever these days for insurance
buyers to find themselves buying policies from non-
admitted insurance companies. Seeing the words “not
licensed”, “insolvency” and “payment of claims may
not be guaranteed” on an insurance policy can
understandably cause concern, especially for insurance
buyers with limited experience with the excess and
surplus (E&S) marketplace.
State insurance regulatory authorities will also typically
require some form of disclosure to buyers of policies
from surplus lines insurance companies. You may be
presented with such a form, along with a request for
your signature, so it’s worth taking a look at what these
disclosures mean, and what you should know.
Here’s a fairly typical sample of wording from a fairly
representative state surplus lines disclosure form: “This
insurance has been placed with an insurer that is not
licensed as an admitted carrier by the State of XXX.”
Wording like this that references an unlicensed carrier
means that the policy in question is offered by a non-
admitted insurance company. A non-admitted
insurance company is one that is not licensed in the
3. state where the risk or insured is located, and does not
file rates in that state. It’s important to remember that
“not licensed” as an admitted carrier doesn’t mean
unregulated; each insurer must meet certain criteria to be
an eligible non-admitted market, including regulations
for financial strength and solvency. It does mean that the
carrier has the ability to set their own rates and terms for
the classes of business they write, leading to the flexibility
in rate and form that is a key differentiator in the E&S
marketplace, and key advantage to insurance buyers. It’s
for these reasons that these carriers and policies are most
often found in specialty types of insurance policies.
Here’s another phrase often seen in these various state
disclosure forms: “In case of insolvency, payment of
claims may not be guaranteed.”
Most states have guarantee funds, paid into and
supported by admitted carriers, that will offer some
limited claims recovery to policyholders affected by the
insolvency of an admitted insurance company. Non
admitted carriers are not covered by these funds. This
means that the guaranty fund of the state in question will
not step in to compensate a qualified insured if the non-
admitted carrier goes bankrupt and cannot pay claims.
While that may seem pretty intimidating on the surface,
as a practical matter there is not a substantial difference
in the risk posed by a potential insurance company
insolvency to an insured.
The fact that an insurance company may be non-
admitted in your state has no bearing on their financial
strength. In fact, insurance ratings agencies generally rate
the financial strength of surplus lines insurance
companies somewhat higher than admitted carriers.
Almost 97% of surplus lines insurers have A.M. Best
ratings of A- (Excellent) or higher, compared with 77%
for the total P&C industry. And even though financial
impairments in the U.S. admitted insurance industry in
2013 were at their lowest level since 2007, for the surplus
lines market, 2013 marked the 10th consecutive year
without any reporting financial impairment; none at all.
It’s also important to note that State guarantee funds
ability/authority to pay claims in case of an admitted
carrier insolvency is typically very limited. Guaranty
funds vary by state and can impose significant limitations
on the payment of funds to policyholders of insolvent
insurers. Insureds with significant assets may be
excluded or limited in their ability to file a claim;
coverage does not apply to all lines of business and
limitations on the amount of a claim payment either
through a maximum cap or deductibles is the norm. You
may get some money, but coverage won’t be as broad nor
limits as high as what you originally paid for. All this
negates much of the perceived value of admitted over
non-admitted paper.
So what does this all mean? Non-admitted insurance
companies are not something to fear, and due to their
greater flexibility in rates and forms, may often be
preferable. Whether admitted or non-admitted, you need
to be careful to deal only with financially sound insurance
companies. This is just common sense; an insurance
policy is basically just a promise to pay at some point in
the future if some covered event happens, you want to
have some comfort the policy is written by a company
that will be around when the time comes to start cutting
checks.
For our part expect us to only deal with financially sound
insurance companies. There may be times when we show
you a carrier with a less than top rating, but those will be
unique and unusual situations. We’ll always fully disclose
any carrier we show you with less than excellent ratings,
and explain why we are showing them to you. And we
keep an eye on the insurance companies we use, so we
can keep you informed of any changes with those you buy
from.
Work injury reporting rules raise concerns
We reported in last year’s Spring edition about changes in
OSHA’s reporting requirements for fatalities and serious
injuries. The new standard, effective January 1, 2015,
requires that OSHA be notified within eight hours of a
fatality and 24 hours of an employer learning of a serious
injury.
Last December the agency also introduced a new
reporting website giving employers the option of
reporting online instead of telephonically to the local
OSHA office or the 24-hour hotline. In its first month of
use OSHA reported receiving 252 reports online. That
compares to the average of 200 to 250 new reports each
week in 2015 when the revised rule went into effect and
when reports were only made over the phone. Now,
however, some attorneys are recommending that
employers avoid using the website to report injuries, for
fear the information will be used against them.
OSHA does not care what method employers use to
report injuries or fatalities, what is most important to
them is that employers meet their obligation to report
these types of severe injuries within the required time
frames. The website does make it more convenient for
employers to report such incidents timely, and it’s
4. important that employers do so since OSHA has cited
employers for failing to do so. The problem is with the
information that must be supplied in order for the
online report to be accepted. The website requires more
extensive information than is required when phoning
OSHA to report such incidents, and employers cannot
submit an online report through the website without
filling out all mandatory fields. That includes much of
the same information that OSHA seeks during its rapid
response investigations.
That’s a particular concern given the short reporting
time frames. As a practical matter it’s almost impossible
for an employer to complete an effective and thoughtful
incident investigation in eight hours or even twenty-
four hours. Attorneys working in this area counsel
caution, saying that it's premature to commit in writing
to some version of an incident before a full
investigation has been done. A phone call does not
commit an employer in writing to any version, whereas
an employer’s own written words on the website are
their words, and they are married to them throughout
the process.
That’s a concern because OSHA can use the
information from the website reports against an
employer during a subsequent enforcement action or as
a road map for an inspection, and the reports will be
accessible to the public under the Freedom of
Information Act, meaning unions, competitors or
plaintiff lawyers can access them. Information
submitted in haste and without careful thought could
be used as an admission of fault. Once made, that
admission is hard to back away from, even if the
employer found out after the initial report that things
were not exactly what they thought at the outset.
The reporting rule has broad applicability; all
employers under OSHA jurisdiction must report
workplace fatalities and serious injuries, even those
who are normally exempt from routine OSHA
recordkeeping because they have 10 or fewer employees
or they operate in low-hazard industries. For those
employers, or any who do not normally deal with these
types of workplace injuries and who may be unfamiliar
with the process and potential repercussions, a phone
report may continue to be the best option.
Even then, and even on the phone, at this early stage just
report the facts that you are absolutely sure are the
correct facts, and avoid adding any conjecture, analysis or
speculation.
And mind those deadlines.
Rhode Island Trucking Association (RITA)
endorses Sinclair Risk & Financial
Management
Sinclair Risk & Financial Management has partnered
with the Rhode Island Trucking Association (RITA) to
offer an exclusive Insurance Program to RITA members.
After years of collaboration with the Motor Transport
Association of CT (MTAC), Sinclair Risk has a deep
understanding of the Transportation & Trucking
industry.
The exclusive program with RITA offers significant cost
reduction opportunity to RITA members through
Sinclair’s proprietary Risk Safeguard Advantage Process.
At Sinclair, we work hard to help RITA members
mitigate risk and keep their losses low through a
comprehensive analysis of a member’s operation, its
existing insurance plan, claims history, safety practices,
benefit concerns, human resources, and much more.
Based on our evaluation, we make recommendations to
improve safety and loss control and tailor a program
specific to a member’s needs. This approach not only
serves to establish a culture of safety but also helps to
stem losses and drive future renewal costs down for
RITA members.
In addition to customized solutions and premium
savings members of the program are eligible for the
following services:
• FMCSA (Federal Motor Carrier Safety
Administration) Regulatory Compliance
• (CSA) Compliance Safety Accountability Reviews
and Monitoring
• Driver Qualification Compliance
• Hazardous Materials Driver Training
• Winter/Defensive Driver Training
• Reasonable Suspicion Training
• OSHA 10 Hour Training
The information, suggestions and techniques contained in this newsletter are believed to be accurate but are of
no warranty of any kind, whether expressed or implied, as to t purpose.