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IASB Safety Group meeting

IASB Safety Group meeting. 2010. Agenda. Construction Accident- Northeast Hamilton CSD.

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IASB Safety Group meeting

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  1. IASB Safety Group meeting 2010

  2. Agenda

  3. Construction Accident-Northeast Hamilton CSD Wall falls, kills worker at construction sitethe des moines register • April 3, 2010 Blairsburg, Ia. - Hamilton County officials say a 57-year-old Clarion man has died after a concrete block wall at a school construction site in Blairsburg fell on top of him. Sheriff Dennis Hagenson said construction worker David Thompson was killed at about noon Friday while he worked on an addition to the Northeast Hamilton Elementary School. The wall was 18 feet tall and at least 12 feet wide.Officials with Iowa Occupational Safety and Health Administration and the state fire marshal's office are investigating.

  4. Construction Accident-Northeast Hamilton CSD • Loss to building addition due to collapse- killed one employee contractor • Insurance Issues: • Building • Builders Risk Insurance? • Coverage for Extra Expense due to delays • Soft Costs? • Contractor • Insurance Requirements • Work Comp • Waiver of Subrogation • Insurance Certificate on file?

  5. Employee Embezzlement- Loss of $587,000 Insurance Issues: Can loss be proven to submit proof of loss? Amount of Fidelity Bond School funds on property of others? Loss went on for 7 years.

  6. Competition A case study of a recent bid situation Failed to accurately describe current coverage. Lack of detailed proposal analysis on key items So called price comparison failed to show dividend in EMC program Failed to disclose short rate penalty which reduces savings Bottom line comparison of net premiums with approximately same coverage shows EMC to be 10-15% less in cost

  7. Features of a Successful Long-Term Program

  8. Loss of Income/Extra Expense • Why is this coverage important? • Madrid Loss • Burlington Loss • Parkersburg Loss • Limits can be eroded rapidly!

  9. Extra Expense Insurance • Where does the money go? • Temporary buildings including pads and utility connections • Rental of building including fire code changes • Extra transportation • Moving costs • Extra telephone and computer hookups • Employee overtime costs • Extra utility costs at a substitute location

  10. Limit Upgrades Effective 7/1/2010 No Additional Premium Applies

  11. New Coverages Effective 7/1/2010 No Additional Premium Applies

  12. Flood • Coverage applies in Zones C & X-unshaded. • If a school has Federal Flood Insurance, this coverage • is excess. • Coverage will be provided by a separate • endorsement. A $5,000 deductible will apply.

  13. Zone Determination

  14. Zone Determination

  15. Zone Determination

  16. What services has EMC provided to Iowa schools recently?

  17. Insurance Company Services Are Important No one offers a service program as comprehensive as EMC Insurance Company

  18. Insurance Company Services

  19. Insurance Company Services

  20. Insurance Company Services

  21. Insurance Company Services

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