Insurance Assurance Consulting
March 2010
Issue 115 Since the Year 2000
Almost Daily Insurance Info and Advice
Almost every day I post information on my blog. Info to help insurance buyers buy insurance better.
Insurance Help Topics Blog - WWW.InsuranceAssuranceBlog.com
The Business Insurance Bid Process
I have been spending a fair amount of time thinking about the commercial insurance bid process.
Lately I have posted to several insurance discussion websites looking for input and comments on the current market and traditions.
Read some of the comments made so far.
I'd like to open it up to my newsletter readers, too.
Insurance buyers, when you bid your insurance, what is your experience? How can the process be improved?
Insurance people, what advice do you give your clients? Do you give different advice to prospects? How do you like to see the process set up?
To add your 2 cents, email me at Scott@ScottSimmonds.com.
I have some ideas on some changes I plan to make when I take a client out to bid. More here after I have assimilated what has been said so far.
Maine Employment Law Guide - Massachusetts too
I just finished reading Rick Dacri's Maine Employment Law Guide. It is excellent. Simple and straightforward information; well organized and delivered. A must for any employer.
He has a Massachusetts version, too.
New Certificate Forms
Insurance buyers will soon see the new certificate of insurance forms recently issued by ACORD. The biggest change is a change in the cancellation language. The new forms will read, "Should any of the above described policies be cancelled before the expiration date thereof, notice will be delivered in accordance with the policy provisions."Volunteer Immunity Laws
Many states have volunteer immunity statutes that offer protection for liability while doing charitable work.
Google your state name and "volunteer immunity." Such laws cannot be depended on to provide protection for directors and officers in the non-profit world. Such laws only protect volunteers for state issues - no protection from federal law and rules - ADA, EEOC, discrimination laws, etc. I say again, these laws are not a replacement for directors' and officers' insurance.Hold Harmless Agreement
According to Ray Burnham's Insurance Dictionary (www.BurnhamSystem.com), a hold harmless agreement is a, "contractual provision in which one party assumes another's legal liability, as a contractor may assume an owner's liability based on the contractor's actions; is another term for indemnity agreement."
I use the phrasing, "When one party agrees to take the bullet for another party," when describing hold harmless and indemnity clauses."
Use caution when agreeing to assume liability for someone else. While many insurance contracts will follow you in such agreements, some will not. Further, if the agreement is too broad, you could be assuming liabilities that your insurance does not cover. For example, pollution is excluded from most liability insurance policies. However, your indemnification agreement may hold you liable for pollution liabilities.
Drug Testing
Consider a drug testing policy for your employees. There are testing labs in almost every community that can help with the process.
There are also DIY kits you can buy at many drug stores. Drug and alcohol abuse can be the cause of huge expenses for businesses - impaired driving, workplace accidents, theft losses...
Check with your employment lawyer before implementing a policy. State laws vary.
New Book Shop
As the number of books and products I have for sale grew, I knew that I would ultimately need a more robust store-front. Take a look at www.InsuranceBookShop.com to see the new site.
Bank Insurance Teleseminar Series Recordings
I recently conducted 5 teleseminars for bankers. I covered almost every aspect of insurance for people who buy insurance for their banks. Get the recordings here.
Insurance professionals looking for information on my services and products for insurance professionals should go to: www.ICMentor.com.
Sales Help For Insurance Agents
I probably buy more insurance than anyone else in the US - more than 1,000 policies each year. I also sold insurance for 20 years. I get calls every week from insurance agents who are struggling,looking for a better way.
I recently finished my Six Figure Insurance Commission System to help insurance agents sell more insurance and build better client relationships.
Insurance Assurance Workbooks
A few months ago I announced my Insurance Assurance℠ Workbooks as an effective way for small businesses to judge and improve the quality of their insurance programs without spending thousands to hire me. The response has been amazing.
At $99, the digital edition is proving to be very popular.
The idea is simple. Insurance buyers have trouble coming up with the right questions to ask their agents. My workbook gives them the questions, along with insight into the coverages that are important to consider.
Business Insurance Audit Toolkit - For Small and Medium Sized Organizations of All Types. Digital and Softcover Editions
Bank Insurance Audit Toolkit - For Bankers Who Manage Their Bank's Insurance. Digital and Softcover Editions
Insurance Help Topics Blog - WWW.InsuranceAssuranceBlog.com
Get the Recording of My Time Mastery Teleseminar - Go To My Store
www.BankInsuranceBlook.com. - The blog version of my book, Simmonds on Bank Insurance. A comprehensive buyer's guide for bankers who buy insurance for their banks.
www.WorkCompBlook.com. - Blog version of Simmonds on Workers' Compensation Insurance. How to manage and buy workers' compensation insurance. Filled with information to control your work comp costs.
Your comments and suggestions are always welcome.
Scott Simmonds, CPCU, ARM, CMC
Consulting On, Never Selling, Insurance
Providing Unbiased Insurance Assurance
Phone: 207-284-0085
Skype: Scott.Simmonds
Fax: 802-992-4027
Scott@ScottSimmonds.com
www.ScottSimmonds.com
www.InsuranceAssuranceBlog.com
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