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Risk Management:

Risk Management:. Improving One’s Position in the Likelihood of Risk. A presentation for:. Presented by: David LaRiviere Branch Manager & Senior Vice President Conover Insurance. Risk Management. Exposures (auto, property, premises, employees, products, fiduciary, data, fire, theft, etc.)

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Risk Management:

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  1. RiskManagement: Improving One’s Position in the Likelihood of Risk A presentation for: Presented by: David LaRiviere Branch Manager & Senior Vice President Conover Insurance

  2. Risk Management • Exposures (auto, property, premises, employees, products, fiduciary, data, fire, theft, etc.) • Dealing with Risk (transfer, retain, exclude) • History of Insurance • Early forms date back 5000 years to Mesopotamia. • In 1688, merchants gathered at Edward Lloyd’s coffee house in London and began the first true insurance marketplace. • Cargo moved by ship. • Shipment moved by truck.

  3. Exposures and the Transfer to Insurance Property • Buildings/Contents • Business Income/Extra Expense • Code/Decreased Cost of Construction • Property of Others • Quake/Flood • 9/11 Occurrence

  4. Exposures and the Transfer to Insurance Inland Marine • Equipment • Rented/Borrowed Property • Technology • Transit • Signs • Accounts Receivable

  5. Exposures and the Transfer to Insurance Liability • Bodily Injury/Property Damage • Premises • Named Insured Changes • Professional Liability (Inc. Entity)/E&O/D&O/Fiduciary/Abuse/EPL • Volunteers • Pollution/Buy Property/Donated Property • Stop Gap

  6. Exposures and the Transfer to Insurance Liability • Cyber • Foreign • Employee Benefit Liability • Excess • Vendors • Commercial/Leases

  7. Workers Compensation Workers Compensation • Monopolistic State • Stop Gap • Temporary Workers • Leased Employees

  8. Exposures and the Transfer to Insurance Auto Liability • Collision • Comprehensive • Non-Owned Auto (Employees and/or volunteers using their own vehicle for company business) • Hired Auto Property Damage • Lease Value • Drivers (MVRs) • Cell Phone/Texting

  9. Exposures and the Transfer to Insurance Crime • Money – On/Off Premises • Employee Dishonesty (Volunteers not covered) • Computer Fraud/Wire Transfer

  10. Loss Control of Risk • Attitude • Property • Maintenance, housekeeping, security, electrical, fire drill • Inland Marine • Security Technology/Transit • Liability • Background Checks • Certificates • Review Leases • Education • Safety Committee • Finger point

  11. Loss Control of Risk • Auto • Maintenance • Drivers • Volunteers • MVRs • Driver File • Cell Phone/Text Policy • Crime • Security Controls • Vacation • Average is three years old • Professional • Certificates of Insurance • Documentation (HIRE/FIRE, EEOC) • Employee Handbook • Disaster Plan (Reciprocate)

  12. Loss Control of Risk • After the Loss • Reporting • Follow Up • Communication

  13. Emerging Trends & Issues • Cyber Liability (Data Breach) • Employment Practices/Wages (Class Action) • Pollution (Silica, OSHA, etc) • Cell Phones/Texting • Hardening Premiums/Natural Disasters/Lawsuits/Costs/ Professional/D&O • Certificates of Insurance • Water Damage (Mold) • Federal Regulations (EEOC Background Checks/Food) • HIIPA • Terrorism

  14. Questions & Answers

  15. Thank You If you have additional questions or comments, please feel free to contact me at any time: David LaRiviere Yakima Branch Manager & Senior Vice President Phone: 509.965.2090 Toll-free: 800-551-2090 E-mail: davidl@conoverinsurance.com

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