IRMI Update—Issue #25
An E-mail Newsletter for Risk and
Insurance Professionals
ISSN: 1530-7948
September 18, 2001
In This Issue
Colleague,
I was horrified, shocked, and deeply saddened by last week's
atrocity, as I am sure you were. We have all lost friends and associates,
and our world has changed forever. On behalf of my associates at
IRMI, let me express our heartfelt sympathy to the families and
colleagues of those injured or lost. Our thoughts and prayers are
with you.
One thing that Americans realize is that we cannot give the cowards
who performed this act a victory by retreating from our way of life.
Yes, we will mourn the dead, but we will also move forward with
our lives―both business and personal. And, as risk professionals,
it is our responsibility to help our companies, or our clients,
do this as quickly as possible.
Our industry will be deeply involved in the aftermath of the
attack on many levels, and some will present opportunities to make
real differences. One of these is responding to the flood of claims.
Handling claims is, after all, the industry's ultimate "product,"
and I have no doubt that we are putting the industry's best foot
forward.
As part of the healing process following a tragedy, it is sometimes
helpful to express your thoughts to others. We welcome all e-mail
messages expressing sympathy for the victims or thoughts on the
future. We may include some of these on IRMI.com. [See
reader
comments].
Best wishes,
Jack
Jack P. Gibson
President
IRMI
Reduce New-Hire Fleet Risks. Most
fleet vehicle accidents occur within the first 12-18 months of a
driver's tenure with a company. In fact, some organizations find
that as many as 30 to 40 percent of their fleet accidents involve
new hires, which is not surprising. New hires are learning about
the company's products, services, and policies; are unfamiliar with
their customers and territories; are often driving vehicles that
are very different from their personal cars; and are highly prone
to over-scheduling and rushing. All of these factors combine to
create a significantly higher accident rate for new hires.
That's why many companies require their drivers to participate
in a driver safety training program soon after their start date,
or even before they're given the keys to a company vehicle. To make
your new hire training as effective as possible, consider the following
time-proven strategies:
- Use a dynamic approach that keeps participants
engaged and involved.
- Offer practical tips and strategies that drivers
can use on the job immediately.
- Provide hands-on, behind-the-wheel instruction
in a safe, controlled environment. This allows drivers
to practice and apply new skills when they're taught,
for better retention.
- Provide realistic strategies and techniques
for staying safe on the road. For instance, it's
not realistic to tell drivers that they can never
use a cell phone; but providing them with strategies
for safe cell phone use is both practical and valuable.
By: Phil Moser
National Sales Manager, Advanced Driver Training Services, Inc.
King of Prussia, PA
E-mail:
www.adtsweb.com
Suggest a Risk Tip.
Future issues of IRMI Update will include more risk tips from our
readers. Send us a practical tip (less than 300 words) for identifying
and managing risks, buying insurance, managing claims, or filling
gaps in insurance coverages. We'll acknowledge your contribution
as we did for Phil.
We add new Expert Commentary to IRMI.com every week. There are
now 202 articles on IRMI.com, and many more are in production. Below
you'll find summaries of some recent additions with links to the
articles.
-
2000
Fiduciary Liability Survey—Those dealing
with pension, savings, profit-sharing, employee
benefit, and health/welfare plans are liable to
the beneficiaries for any breach of their fiduciary
duties. This article by Mark Larsen of Tillinghast—Towers
Perrin examines a survey designed to help organizations
assess exposures to such claims and construct appropriate
financial protection programs.
-
Sales
Is a Numbers Game—So, what keeps salespeople
from making sales? Frank Lee discusses sales call
reluctance and its many facets that can hamper even
the best-intentioned salesperson.
IRMI Goes Forward
with October Conference—We at IRMI are deeply saddened
by the recent tragic events. Nevertheless, we feel it is important
to take heed of President Bush's request for Americans to get back
to business as quickly as possible. We have every reason to believe
that air travel will return to some degree of normalcy prior to
the Construction Risk Conference (October 29-November 1 in New Orleans).
Therefore, we intend to go on as scheduled.
If you are registered, please do plan to attend. If you have
not registered yet, please consider doing so before the October
15 registration fee increase. If world or other events interfere,
our policy allows cancellation without financial penalty prior to
October 19, and we would likely relax this policy in the event of
another national emergency.
Our industry faces great challenges in the aftermath of this
disaster. We hope to see you in New Orleans to discuss how we can
overcome them, together.
Follow the link to the
Conference agenda
for details about all the sessions and the presenters. To register,
just complete the registration
form or call (800) 827-4242.
IRMI Acquires D&O Maps—IRMI has acquired D&O MAPS, a
Web-based information service focusing on directors and officers
(D&O) liability insurance, from author and publisher Warren Brockmeier.
D&O MAPS is the premier source of information on a very important
insurance coverage-the policies purchased to protect the officers
and directors of corporations, and the officers and trustees of
educational institutions and nonprofit organizations. D&O MAPS provides
information about the D&O marketplace, explanations of typical policy
provisions, and specific information about the programs and policies
available from the over 60 insurers serving the U.S. marketplace.
A subscription to IRMI Update is absolutely free. Use the
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