IRMI Update
Risk Management
& Insurance Commentary, Tips, and Tactics
February 18, 2009 | Issue 200 | ISSN: 1530-7948
In This Issue
Colleague,
With this, the 200th issue of the newsletter, I am
excited to introduce you to the all new
IRMI Update. As you can see,
we listened to the feedback you provided in our reader survey and
have redesigned it to emphasize the features readers appreciate
most.
IRMI Update was always intended
to support the content we publish on our websites and in our subscription
reference services. We have worked hard to improve the way it complements
these information resources. Generally, you will find new editorial
content, including descriptions of and links to publicly available
Expert Commentary and IRMI Insights articles in the left column
of IRMI Update. The right column
of the email version (not this archive version) will always include
links to helpful content on our websites, information on new educational
programs, and news about other IRMI products and services.
Many thanks for subscribing to
IRMI Update. Please recommend it to your business colleagues
and friends.
All the best,
Jack
Jack P. Gibson, CPCU, CRIS, ARM
President
International Risk Management Institute, Inc.
Risk Tip
Be Sure To Report Workers Comp Claim
Facts Promptly in NY
Since January 1, 2009, the NY Workers Compensation Board has
required that insurers complete new form PH-16.2 to contest dubious
claims. The form will require detailed information about the basis
for contesting a claim, including the names of witnesses, supporting
documents, case citations, and legal theories of the claim.
The bulk of the material can only be obtained from the employer,
making prompt, detailed reporting vital to success.
Attaching documents to the C-2 form detailing reasons why the
claim may not be valid is the best practice. Waiting for the insurer
to contact the employer will result in delay, lost evidence, and
failure to identify proper defenses.
By: Theodore J. Ronca, Esq., Attorney
Aquebogue, NY
GET PUBLISHED
IN IRMI UPDATE: 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 Ted.
Submit an IRMI Update
risk tip.
What's New
in Your IRMI Library
Properly Insure Fiduciaries
A combination of adverse court decisions, new federal legislation,
and the current recession have combined to expand the liabilities
of fiduciaries in recent years. Unfortunately, many agents, brokers,
and risk managers have little knowledge of fiduciary liability insurance
and are intimidated by the coverage nuances. Nevertheless, any company
with employee benefit plans should review their exposures, consider
purchasing the insurance, and make certain the policy terms meet
their needs. To help you handle the details, recent supplements
to
Professional Liability Insurance have updated and expanded our
discussions of fiduciary exposures and insurance coverage options.
[SilverPlume
Sage; IRMI Online]
For summaries of other new and updated information in your IRMI
library, go to What's New on
IRMI Online or
What's New in SilverPlume Sage.
Recent Articles
on IRMI.com
New Expert Commentary
There are over 1,100 risk management and insurance articles on
IRMI.com. Below you'll find summaries of some recent additions with
links to the articles.
IRMI Featured
Publication
Cutting Edge Analyses for Risk Financing
Many Fortune 1000 risk managers and the nation's leading insurance
professionals use
Risk Financing. This indispensable and easy-to-understand reference
explains the traditional insurance rating plans and alternative
funding options for your organization's risks. See a detailed list
of the risk financing topics
covered and how it can eliminate risk financing uncertainty.