IRMI Update—Issue #53
An E-mail Newsletter for Risk and
Insurance Professionals
ISSN: 1530-7948
November 19, 2002
In This Issue
Colleague,
Automatic external defibrillators (AEDs), 3-7 pound gizmos that
anyone can use to jump-start a customer's or colleague's afflicted
heart, are catching on in corporate America. You simply attach two
electrodes to the stricken person's bare chest, and the device does
the rest. More than 60 percent of American heart-related deaths
are due to cardiac arrest, and half of those deaths occur before
the patient reaches the hospital. For this reason, making the device
available (at a cost of $1,500-$4,000 each) seems like a darn good
idea to me—as long as employees are properly trained on their use.
Have you (or your clients) made AEDs available in your operations?
Are there any risks associated with doing so? What training did
you provide employees? Do you have any success (or horror) stories
to share with others? Since sharing this information can save lives,
I'd appreciate your comments. [See
reader
comments.]
I certainly enjoyed seeing so many friends and supporters at
the 22nd IRMI Construction Risk Conference last week. If you were
among them, I hope you garnered many great ideas for dealing with
the difficult risk and insurance environment we are facing. Mark
your calendar for the 23rd conference, to be held November 17-20
in Chicago. I hope to see you there.
Have a great day!
Jack
Jack P. Gibson
President
IRMI
Don't Rely on Certificates Alone—General
contractors and many others are highly reliant on additional insured
endorsements to effectively flow risk down to subcontractors, sub-subcontractors,
and other parties who have care, custody, and control of work. As
Certificates of Insurance convey no rights and are not recognized
by many courts as part of the insurance policy contract, relying
solely on Certificates, as many Contractors do, is not entirely
effective. Binding Subcontractors to provide not only a Certificate
of Insurance but also a copy of the additional insured endorsement
mitigates the real possibility that, for any number of reasons,
your company may not have been endorsed to a policy.
Additionally, with the plethora of additional insured endorsements
available, the coverage afforded to the additional insured can vary
measurably. Binding subcontractors to not only provide a copy of
the additional insured endorsement but to utilize a specific ISO
additional insured endorsement form allows for customizing the endorsement
to the contract format and reduces the likelihood the additional
insured is not receiving the breadth of coverage expected.
By: Jeffrey L. Hoch
Manager Commercial
Kvaerner Songer, Inc.
Pittsburgh, PA
E-mail:
www.akersolutions.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 give you credit for
your contribution.
There are now 357 articles on IRMI.com, and many more are in
production. Below you'll find summaries of some recent additions
with links to the articles.
Gary E. Bird Horizon
and Words of Wisdom Awards Bestowed—Terry Young, ARM,
vice president—Safety, Risk Management, & Human Resources of Southern
Industrial Constructors, was honored at the 22nd IRMI Construction
Risk Conference with the Gary E. Bird Horizon Award. Mr. Young was
chosen for designing and implementing a very effective safety program
that reduced workplace injuries and produced significant savings
for his employer. The award is presented annually by IRMI to recognize
an individual who has demonstrated a commitment to improving construction
risk management through the implementation of innovative, cost-effective,
and efficient risk management techniques. Details of Mr. Young's
program will be posted on IRMI.com in the near future. To learn
more about the award, go to this
web page.
Tim Carter, director of safety for Fluor Global Construction,
was honored with the Words of Wisdom Award to recognize his outstanding
presentations at the last five IRMI Construction Risk Conferences.
Go to this page
to read more about Mr. Carter.
This year's conference was IRMI's biggest yet with 1,235 people
in attendance. Be sure to mark your 2003 calendar to attend next
year on November 17-20 in Chicago.
New IRMI Classification
Cross-Reference—We've updated and improved the
Classification Cross-Reference.
Now in its eleventh edition, this popular tool contains a master
cross-reference sorted over 10 different ways—alphabetically then
numerically by workers comp codes, CGL code, NAICS code, SIC code.
In addition to the NCCI codes, 7 different state workers compensation
codes systems are included. Follow the link for more information
or to purchase the
Cross-Reference.
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