James K. Ruble MEGA Seminar Topic Descriptions Lake Buena Vista, Florida June 4-7, 2018

Transcription

1 Commercial General Liability Coverage Excitement & Opportunity Awaits (4 hours) After an overview of the structure of the Commercial General Liability Policy, agents will take an in-depth look at the coverages provided by the CGL Policy. They will discuss the insuring agreement and be able to explain who is insured. The will identify the important CGL exclusions and their impact on their clients. They will examine the meaning and intent of these selected CGL exclusions and discuss solutions to remedy the coverage gaps created by exclusions. Negotiating Contracts for Risk Transfer (4 hours) In this four-hour session, insurance agents will examine the best way to assist their clients in negotiating contracts to best transfer risk where appropriate. They will discuss and describe the use of Hold Harmless and Exculpatory agreements, as well as considerations related to contractual risk transfer. Specific issues related to Additional Insured status will be analyzed and alternate ways to minimize insurance coverage conflicts will be discussed. Advanced Claims Management Strategies and Techniques (4 hours) Agents will discuss the most common risk management techniques and the purpose of claims management. They will explore the three main approaches to claims management and be able to explain the differences. They will identify those factors which contribute to the filing of claims and learn the agent s role in communicating the effect of these factors on policy premiums and experience modification. Agents will examine their role in educating their clients, assisting in accident prevention, establishing response protocols, and understanding best practices. They will be able to analyze loss data, identify areas of concern, and explain the benefit of a claims audit program. They will learn the characteristics of the alternatives to litigation, i.e., Arbitration, Mediation, and Mini Trials or Summary Jury Trials, along with the rules and applicability of these alternatives. Commercial Property Checklist (4 hours) Whether the policyholder is the owner or tenant of the premises, there are endorsements available to better tailor the coverage to the exposure. In this session, agents will learn how to develop a Commercial Property checklist for building, business personal property, and personal property of others, as well as time element exposures and coverages. They will discuss how to write Ordinance or Law Coverage for Tenant s Improvements and Betterments, how to provide coverage for expenses for labor and/or building materials when the total cost of repair or replacement exceeds the applicable Limit of Insurance following a natural disaster, how to trigger Business Income for the peril of flood, and more. 1

2 Cyber-Exposures: Resistance Is Futile (4 hours) In today s highly-automated, web-connected world, nearly all businesses are at risk of harm due to the loss, misuse, or corruption of their data or systems. Unless your insured keeps all critical information in his or her head and never uses a computer, phone, fax or the mail, there is no avoiding the exposure to loss related to that information. Even conversation carries some risk. Luckily, products have evolved in the last few years that can cover many exposures. These products are often categorized as cyber-insurance coverages, and they address a broad and variable range of causes of loss from data reconstruction to business interruption to extortion threats, to regulatory investigations, liability to third parties and more. These coverages are complex and are changing and expanding rapidly. However, no agent can afford to neglect them. In this session, agents will gain a basic working knowledge of the terminology and concepts specific to cyber-insurance. In addition, they will better understand the bases of cyber exposures. Agents will be able to identify and apply the solutions available to address these exposures, including critical coverage elements and common mistakes made when placing this insurance. ABC s of D&O: Exposures and Coverages for Main Street Business (4 hours) Agents will learn how to identify management liability exposures for commercial business clients. They will explore obligations to various stakeholders and coverage for claims that may arise. They will learn the importance of D&O insurance and why it is needed. They will discuss how D&O policies are structured including the basic coverage components, who is the insured, additional coverages, exclusions, and more. Attention to the insured s needs and policy language will allow them to protect the insured from many hazards. Construction Defects Tearing Down the Mysteries (4 hours) Agents will be able to identify construction defects and learn how the Commercial General Liability policy handles these exposures. They will understand the new additional insured endorsements that exclude damage arising from the work of a subcontractor. They will be able to analyze the various coverages and exclusions applicable to construction claims. They will also learn about other options to manage the construction defects exposure. Planning for Retirement (4 hours) Agents will learn the importance of planning for retirement and keeping the retirement plan current and applicable to the insured s needs. They will evaluate various types of retirement funding mechanisms, including Annuities and Long-Term Care Insurance. They will examine alternatives and learn how funding instruments can be used. Employment Practices and Insurance Exposures & Solutions (4 hours) Agents will learn about the employer s liability relationship with employees and identify the potential coverage pitfalls that can develop from that relationship. They will discuss the evolution of non-discrimination laws and the regulatory maze they create. They will examine basic unlawful discrimination exposures and the scope of regulation, review how to manage these exposures, as well as how to provide proper coverage. 2

3 Florida 5-hour Update: Laws and Regulations (5 hours) Agents will review the regulation of the insurance industry including jurisdiction of duties and responsibilities and licensing requirements. They will examine the licensing laws that affect their agency. They will discuss everything from who can be an agent in charge and what are the statutorily defined duties to what are the penalties for not properly licensing their agency. They will identify current legislative issues. They will learn the professional, legal, and ethical responsibilities in dealing with the day-to-day realities of the complex, ethical issues of the insurance industry along with the regulatory and ethical guidelines for Florida-licensed insurance professionals. The session will conclude with a review of current agency, agent, and adjuster violations and recent examples of enforcement actions. The Greatest Insurance Product Ever Invented: Life Insurance (4 hours) Agents will gain a better understanding of the ins and outs of each type of life insurance policy and be better equipped to serve their clients in choosing the ideal plan to meet the needs of their family and/or business. They will examine the types of term and whole life insurance along with the advantages and disadvantages of each. Agents will learn how life insurance can be used to create an estate, pay death taxes, fund a business transfer, accumulate funds for college, pay off a home mortgage, protect a business from the loss of a valuable employee, create a retirement fund, replace a charitable gift, and more. Aviation (4 hours) Agents will gain a better understanding of aviation risks. They will learn the conceptual similarities between aviation risks and the everyday commercial risks of their clients. They will examine the basic aviation risks and the basic solutions to these unique risks. They will discuss drones as to what they are and the challenges of insuring them. They will learn the administrative, legal and related liabilities connected to drones and their operators. They will review the current state of coverage for drones under ISO forms both personal and commercial. Insurance Valuation Problems (4 hours) Agents will explore property valuation issues. They will discuss valuation problems with buildings, equipment, and inventory. They will review policy language and discuss the major valuation changes in the 2012 Commercial Property filing. They will examine the alternative valuation options to change valuation to meet the client s expectations. They will learn the proper way to handle reporting form issues. 3

4 The Insurance Industry and the Value of Internships (4 hours) After attending this presentation, agents will understand the benefits of using internships for insurance companies and insurance agencies. The benefits will be described as to their impact on both the insurance organization and the students participating in insurance and risk management programs at universities. Agents will learn the factors to consider and decisions to be made when establishing an insurance internship program. Many of these major decisions and how internship programs fit into an insurance organization will be reviewed. The process of finding the right individual, how to engage with universities, and some of the challenges and issues that may be encountered throughout the process will be explained. Real-world experiences will be used to demonstrate the value of internships to the insurance industry. Insuring the E-Commerce Account (4 hours) After an overview of the internet, agents will explore the types of losses created by First Party and Third Party exposures. They will examine insurance issues as they relate to general liability and property coverages and discuss specialty risk concerns. They will identify exposures and discuss possible solutions. Managing & Transferring Environmental Exposures (4 hours) Agents will learn about various insurance and non-insurance risk transfer tools and techniques that can be used to manage and transfer their client s environmental exposures. They will identify common environmental exposures impacting real estate owners, sellers, developers, tenants, lenders, manufacturers, municipalities, hospitals, distributors, contractors, and more. They will discuss the overlooked benefits of Environmental Liability Insurance and review coverages provided in various ELI policies. Navigating Insurance Program Development (4 hours) Using a hands-on practical approach, agents will learn how to customize policies and underwriting to the specific needs of both personal lines and commercial clients. The goal of this presentation is to provide better insurance protection for the insured at an affordable price. Agents will understand how using a focused approach to a group of consumers with similar needs produces better insurance protection with better service for the client. They will learn how to design procedures to prevent policy errors and coverage gaps. As a result, they will be able to identify and explain the benefits to the insured of having customized Policy Forms & Endorsements, Claims Handing, and Loss Control specific to their needs. This will create a database of claims/other data that should improve the loss experience for similar type risks. From the insurance agent s perspective, it serves as an E&O prevention tool by having checklists and procedures that match the unique characteristics of a risk segment. 4

5 Alternate Funding (4 hours) During this session, agents review some of the alternative funding options available to the large risk. Points of interest include a brief overview, the use of guaranteed cost programs vs. the following alternatives: deductibles, retrospective rating plans, self-insurance, risk retention groups, and captives. Each technique is applied to a case study throughout the class. Innovative Environmental Strategies Risk Management & Insurance (4 hours) The majority of businesses have either a direct or indirect environmental exposure. In this session, agents will better understand environmental liability issues affecting all businesses today. They will identify environmental exposures impacting real estate owners and developers, commercial agriculture and livestock, contractors, manufacturers, and more. They will discuss the benefits of Environmental Liability Insurance and review coverages provided in various EIL insurance policies including Green Insurance Coverage. They will examine how environmental liability insurance can fill gaps in standard property and casualty insurance to cover these unique exposures. Lessons from CAT Losses (4 hours) In the wake of an insurance loss, your client does not want to face surprises, especially when it comes to insurance-related claims. CAT losses are where we learn some of the best lessons as to whether your client is properly insured. In this session, agents will examine losses that are uninsured as a result of coverage being left out or incorrectly written. This will include commercial property, business income, flood, and other property insurance coverages. They will review property claims dealing with property valuation, correct use of forms, ordinance or law, spoilage coverage, equipment breakdown, and more. They will identify business income issues related to civil authority, extra expense, utility services, and dependent properties. They will compare private flood insurance versus the NFIP. Personal Lines and the Need for Special Event Coverage (4 hours) Clients may be unaware of the exposures created when hosting a special event, such as a wedding, birthday, or other celebration. How can the insurance professional do a better job of identifying a personal lines client s exposure to loss? What does the client have at risk? Are there ways to reduce the frequency or severity of the exposure without costing the client money? Is insurance always the answer? After looking at those exposures and how the homeowners policy provides, limits, or excludes coverage, agents will look at risk management control techniques and end with an analysis of a special events insurance policy. 5