ATD Insurance

Recently there has been an increase in the number of construction accidents that has prompted a special committee of the U.S. House of Representatives to launch a review of the federal agency in charge of ensuring workplace safety. The mission of this committee is to determine if the safety standards of the federal Occupational Safety and Health Administration are adequate and being followed.

Perhaps contributing to these workplace injuries, some resulting in death, is the need to move faster to build quickly and meet construction deadlines. U.S. Rep. Lynn Woolsey of California said, "It's taking its toll and it's killing or injuring our workers - all so some big buildings can get built quickly."

In Las Vegas alone, 10 construction workers died during a 17-month period while working on Las Vegas strip projects.

"The failure to adequately protect these workers is a direct result of an agency that doesn't dedicate enough resources to inspect most job sites nor the political will to hold employers accountable when they put workers at risk," said Aaron Albright, committee spokesman. "Our committee has seen similar patterns across the country."

Legislators want tougher penalties for employers who violate workplace safety rules, and have introduced legislation to increase fines and make it easier for workers to appeal rulings. The bill would also raise criminal penalties, making repeat workplace violations a felony punishable by up to 10 years in prison.

Clearly, the move here is to bring more employers into compliance to protect employees. We can expect closer scrutiny, both at the federal and state levels, in the future.

The Insurance Review

Which is the right policy to buy to cover your business? That is where our professional expertise becomes invaluable. Commercial Insurance comes in many forms, and buying the wrong policy could leave gaps in coverage. As a business owner, you should make it a standard practice to have an annual review of your insurance package.

Depending on the complexity of your operation, this process can range from a phone call to face-to-face meeting, including a facility inspection. Many times in the review process, we turn up changes in your operation that have occurred over the past year requiring special attention.

Without the opportunity to review your coverage with you, we might never know about operational changes that may require special coverage.

An annual review can address whether you have enough insurance to rebuild your buildings and replace your business personal contents including furniture, machinery, raw stock and finished inventory. Business contents could also include property of others in your custody. This non-owned property needs special coverage.

You know your operation better than most, and we need your help to properly categorize your assets and analyze your operational exposures for both property and liability losses. Another important consideration is the loss of business income that can occur as the result of a claim event.

During the rebuilding process that follows a claim, a business could lose out to competitors, so a quick resumption of operations is very important. Business interruption insurance can fill the gap. Make sure your limits are adequate to provide for a period of time that you believe it will take to return to normal operations. Trying to go cheap here is just bad business.

Business interruption insurance has several components that can be selected based on your business' needs. The first option is the ability to provide for direct loss of income.

Another exposure faced is contingent loss of income resulting when a business related to your operation has a covered loss that affects your ability to operate.

You could also be faced with extra expenses to continue operations at a temporary location or through agreements with other businesses, or the necessity to spend over and above your normal operating expenses to maintain operations.

Liability coverage is typically broken down into several basic categories including bodily injury. Your business could also face exposure from professional liability or a claim involving officers and directors that are not covered in the standard commercial liability policy.

HERE'S WHEN ITS TIME TO RE-THINK YOUR INSURANCE:

1. WHEN YOU'RE WITH A DIRECT WRITER if price, coverage and claims payment are important to you, remember that "captive agents" are not independent. They work for their Company first and for you second.

2. WHEN PREMIUMS INCREASE EVERY YEAR - Sure, prices can go up. But they can also go down. If you face "automatic" increases every year, either your agent is not able to change companies, or doesn't wish to.

3. WHEN YOUR AGENT DOESN'T "SHOP FOR YOU - You shouldn't have to call a half dozen sources to get the best coverage and competitive rates. Your agent should analyze your needs, and offer you options from which to choose.

4. WHEN AN AGENT DOESN'T OFFER YOUR "RISK MANAGEMENT" - Hints on reducing risk and installing safety devices (alarm systems, dead bolts, etc) should be part of the service. They can save you money, as well as grief

5. WHEN YOU HEAR FROM YOUR AGENT ONLY AT RENEWAL TIME - You deserve to be contacted periodically, not just when a premium is due. A mid-year review on most coverages (to be sure they are still current) should be part of the service.

6. WHEN YOU CALL AND IT TAKES FOREVER TO FIND YOUR FILE OR CALL BACK - When you call it's important! So whether your agent, a customer rep or a secretary answers, your account information should be immediately available. An important part of the service!

7. WHEN THERE'S NO "PERSONAL" CLAIMS SERVICE - Let's face it - when you have a loss, you don't want to talk to a recording or voice mail or an "800" number. You want and deserve a human voice and personal assistance for a fast, fair claim settlement.

8. WHEN YOU CAN'T GET ALL OF YOUR COVERAGE FROM A SINGLE SOURCE - Personal Lines and commercial coverages if you have a business, and life/accident and health insurance can all be under one roof. That way, no matter what protection you need, no matter what losses you suffer - you always know where to go.

9. WHEN YOU DON'T HAVE YOUR OWN AGENT OR CUSTOMER SERVICE REPRESENTATIVE - Insurance is a service business and you're entitled to be served - not only by an agent, but by a customer service representative and a dedicated staff that cares about your important business.

10. WHEN YOU'RE NOT SO SURE ABOUT THE INSURER WHO PROVIDES YOUR COVERAGE - "Stability" should be the name of the game when it comes to your insurance company. If you don't recognize the name, or find that the company has a poor rating, it's probably a good idea to get a second opinion.