IRMI Update—Issue #155

An E-mail Newsletter for Risk and Insurance Professionals
ISSN: 1530-7948
February 21, 2007

In This Issue

• Message from the Editor
• Risk Tip: Use a License Event Notification System
• Participate in Our RMIS User Survey
• New Expert Commentary
• How To Get IRMI Update E-mails

Message from the Editor

Colleague,

I'm very excited to announce two new IRMI seminars in 2007: Construction Defect Risk Management and Insurance, and Wrap-Ups: Avoiding the Pitfalls.

Returning to the lectern for the construction defect session are Michael J. O'Neill and Jeffrey Masters, IRMI Words of Wisdom award winners both. In a refined and expanded version of the successful Residential Risk Management and Insurance seminar they presented last year, they will explain best practices for mitigating construction defect risks, discuss coverage issues with respect to construction defects, and review the use of warranty programs. Their new seminar will apply to both residential and commercial construction.

The wrap-up seminar will be led by Kathi Creedon and Chris Smith, with Tracy Saxe as a guest speaker. This team will dispel many myths and misconceptions, and suggest best practices that will ensure the success of an owner controlled insurance program (OCIP) or contractor controlled insurance program (CCIP).

The seminars will be held back-to-back on these dates, in these locations:

IRMI has held numerous conferences and seminars over the years, and we have developed a format that suits many busy business professionals. Running two seminars one right after the other gives participants more bang for their buck as far as their educational experience, continuing education credits, and travel expenses are concerned. In addition, we offer a $100 discount for those who attend both seminars, providing even more savings.

To learn more about the 2007 IRMI Construction Seminar Series or to register, go to Seminars. Thank you very much for subscribing to IRMI Update. Have a great day.

Jack

Jack P. Gibson, CPCU, CRIS, ARM
President
IRMI

Risk Tip

Reduce Auto Exposure With a License Event Notification System—One proven method for reducing your organization's automobile exposure is to keep up to date on your employees' driver license status by subscribing to a Department of Motor Vehicles' (DMV) license event notification system (LENS). For example, the New York (DMV) LENS notifies the employer by fax or e-mail soon after a listed "event" takes place—no need to wait for the employee or insurer to advise you of the employee's license status. An event would be a conviction, license suspension/revocation, reportable accident, etc. Several other states now offer this service as well for a reasonable subscription charge. You can check out NYS DMV LENS or call the DMV LENS Help Line at (518) 473-3959.

By: Mark Balduzzi, Safety Manager
New York Compensation Managers, Inc.
Syracuse, NY
mbalduzzi@workerscomp.com

Suggest a Risk Tip. Send us a practical tip (less than 300 words) for identifying and managing risks, buying insurance, managing claims, or filling gaps in insurance coverages. Submit your tips. We'll acknowledge your contribution as we did for Mark.

Participate In Our RMIS User Survey

We have a research project underway on risk management information systems (RMIS). As part of the project, we are asking users of unbundled (stand-alone) systems and bundled systems (e.g., provided by insurers) to comment on the effectiveness of the RMIS they use. The resulting data should be useful to risk managers trying to determine which system to purchase. If you are a risk manager using an RMIS of any type, we would appreciate your participation by taking a 15-minute survey. Most of the data gathered from the survey will be displayed in aggregate form in our report, and no data will be attributable to any single respondent without that respondent's permission. Everyone who participates by providing meaningful responses to the survey will be sent a summary report of the survey findings at no cost.

New Expert Commentary

There are now over 800 risk management and insurance articles on IRMI.com. Below you'll find summaries of some recent additions with links to the articles.

• Terrorism Insurance Review and Preview (Part 1)—James Macdonald lists the seven most important events of 2006 and discusses how they relate to the changing nature of the terrorism threat.
• Commercial Insurance Premiums Indicate Market Momentum—The Q4 2006 RIMS Benchmark Survey reflected some of the year's most dramatic rate changes in commercial insurance premiums.
• Managing the Risks of a Household Move—Jack Hungelmann takes a close look at the exposures created when moving from one house to another, and provides strategies for handling these risks.
• Pollution Exclusions in CGL Policy Bars Coverage for Carbon Monoxide Poisoning—Kent Holland shows how identical facts can result in completely different rulings, depending on the jurisdiction.
• Proximate Cause versus Relaxed Standard of Causation in a Jones Act Context—While a recent decision appears to affirm a commonly held maritime belief, Michael Orlando feels the case may have deeper significance.
• How Companies Are Bracing for EEOC Class Action Initiative Goals—With the government stating its intent to address systemic workplace discrimination, employers should consider preventive practices. Paul Siegel explains.

How To Get IRMI Update E-mails

IRMI Update is sent to subscribers by plain text e-mail twice each month. To initiate your free subscription, use the e-mail registration form.