IRMI Update

Risk Management & Insurance Commentary, Tips, and Tactics
August 19, 2009 | Issue 212 | ISSN: 1530-7948


In This Issue


Colleague,

Green construction projects are now a reality for owners, developers, designers, and contractors, as well as those who manage their risks and place their insurance. Green building offers significant opportunities for the construction industry, and much of corporate America seems to embrace the idea. However, as with any emerging trend, it also presents risk. The risks range from traditional risk issues to new exposures that are specific to the sustainable building industry. While some of these risks are covered by traditional insurance policies and specialized products designed to address green building construction are being introduced, management of these risks requires a carefully constructed risk management strategy.

On September 1, we will hold the first of a six-part webinar series to address the growing risks and potential exposures of green construction, strategies for identifying and managing these risks, and emerging insurance coverage considerations and products. Choose the webinars you wish to attend, or sign up for all six at a discount. Attendance will apply toward CRIS reaccreditation. Learn more about the Green Building Webinar Series on IRMI.com.

A half-day workshop at the 29th IRMI Construction Risk Conference in November, "Filling Your 'Green' Toolbox," will also address this important topic. The early-bird registration discount ends August 31, leaving only 7 business days before the $100 fee increase. See the conference agenda and speakers, review the benefits of attending, and register on IRMI.com. If you haven't yet made up your mind about attending, you can lock in the low fee by registering now and cancel for a full refund any time before October 2. I hope to see you in our nation's capital.

Best regards,

Jack

Jack P. Gibson, CPCU, CRIS, ARM
President
International Risk Management Institute, Inc.


Featured Educational Event

Early-Bird Price Ends August 31

The early-bird discount for the IRMI Construction Risk Conference ends August 31. See "What's New" at this year's premier educational and networking symposium. View testimonials to learn why many of your peers make this event a must each year. You can also download a "business case" for seeking approval to attend. If you haven't yet made up your mind about attending, you can lock in the low fee by registering now and cancel for a full refund any time before October 2.


Risk Tip

Consider Employee Lending To Return Employees to Work

Mitigating workers compensation claims cost can be tricky. The best way to control challenging cases is managing an effective return-to-work program. How many times have we heard that? What about, "If you would just return this employee to a job within his restrictions, it would help with your experience modifier rate?" What if you are too small and do not have opportunities within your company?

There are charitable organizations that need volunteers desperately in order to continue the valuable work that they do for their communities. They need people to answer phones, schedule interviews, perform light janitorial tasks, and sell items in their used goods stores. Once an injured employee is released to return to some level of activity, this is an opportunity for an employer to "lend" that employee to a charitable organization. It shows the employer to be a good citizen and offers a much-needed service to the community. The employer pays the employee wages and may be eligible for a tax benefit, plus the workers compensation claim is being managed toward resolution. When the employee has reached full duty or a point in healing that the employer can accommodate, s/he can go back to his/her job or another employer. In most states, this is considered a suitable job offer.

What is the value? The bottom line is that by returning an employee to a job, the healing process is enhanced. Employee lending starts the act of work hardening by getting the employee back to the routine of going to a work environment. The employee becomes productive again, and the reconditioning process is in place.

By: Crystal A. Witham, Sr. Injury Resolution Consultant
CM-Services Inc.
Pittsfield, ME

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 Crystal.
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What's New in Your IRMI Library

Are You Ready for the Pandemic?

On June 11, 2009, the World Health Organization (WHO) officially declared the outbreak of influenza A (H1N1) virus a pandemic, Phase 6—the highest level—for the first time in 41 years. So far we have been fortunate that this virus is not more deadly, but medical experts are concerned that this could change. We shouldn't grow complacent. It's time to make certain that your plan is ready for this fall's flu season.

A short article in the most recent issue of Risk Management Notes (the newsletter that accompanies supplements to Practical Risk Management) includes links to a number of Web sites that can help you fine-tune your plans. If you subscribe to Practical Risk Management, review the article and access the links on the platform to which you subscribe:

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.


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

White Paper: "Effective Contractual Risk Transfer in Construction"

Get this valuable white paper from IRMI at no charge when you sign up for IRMI Construction Risk Manager—a new, free monthly e-mail newsletter with the same integrity and quality you've come to expect from IRMI Update. If you buy, sell, underwrite, or litigate construction insurance or manage construction risks, this newsletter will become an essential part of your tool belt. Learn more.


Your View

Worst-Case Wrap-ups

IRMI Update 211 asked readers for their wrap-up horror stories for possible inclusion in the panel discussion at "Wrap-up Do's and Don'ts," as part of the IRMI Construction Risk Conference. Below are some of the responses.

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