The Bull Stops Here Blog

In this tough economy, you’re doing all you can to reduce your expenses.  The costs associated with your insurance and risk management go beyond what you pay for your insurance premium.  Hidden costs can eat away at your bottom line.  Do you think you have your insurance and risk management under control?

Let me be the judge of that!

You can’t control the economy; all you can control is YOUR economy.  There are two ways you can manage your out-of-pocket insurance expenses…

1. Make sure that you’re not paying too much for your business insurance
2. Proactively manage your risk to workers compensation and liability claims.

You don’t know what you don’t know.  Unless you’re an insurance expert, you’re wasting your time trying to figure it out. I speak two languages – Insurance and English.  I will de-mystify the process for you and give you concrete solutions that will put money back in your pocket.

I’ve got the solution for you with special end of the year pricing to help your 2009 start off safer, smarter, and with more money.

Risk Management Analysis

You will receive a thorough analysis of your workplace or job site with a detailed report card on what you can do to improve.

Here’s what’s in it for you…

·         Reduce your workers compensation cost by understanding what exposures will drain your money.

·         Reduce your liability by insuring your workplace is safe for customers and employees.

·         Save insurance premium dollars by making your business more attractive to insurers.

·         Protect yourself from regulatory fines if you’re not compliant.

“Dan has handled our multi-state insurance contract renewals for several years as an independent consultant, not as a broker or agent, and assists us on a wide variety of issues relating to insurance coverages, safety, training, and workers compensation. His integrity and ability are of the highest quality and we have achieved measurable results in the form of dramatically lowered insurance premiums and accidents.” – Kyle Kincaid, Parker Lumber Company and Builders Supply of Palm Springs

Your special fee - $950 per location (normal value - $1,500)

($450 for each additional location)

Insurance Analysis

You will receive a thorough analysis of your insurance policy with a detailed report on how you can improve your coverages and save money.

Here’s what’s in it for you…

·         Assurance that insurance costs and protection are balanced given the current insurance marketplace.

·         A greater understanding of the risks faced and how your current policies respond.

·         A greater understanding of the risks not addressed by your current insurance.

·         Peace of mind that all you’ve worked for is properly protected.

“I no longer have any doubts that I have the proper insurance coverage at the best price. Dan’s work has afforded me a peace of mind that I would not have achieved on my own.” – Paul Carlson, ALP Group

Your special fee - $950 (normal value - $1,500)

Combine the two programs and save - $1,275 for BOTH (58% savings on regular fee)

This special is good through December 31, 2008

You will get unbiased insurance advice.  I never accept fees from insurance agencies or companies.  When you’re working with me, The Bull Stops Here.  My mission is to help you become a smarter insurance buyer with a safer work environment.

I guarantee your return on investment will save you time, money, and frustration on your insurance program in 2009. 

Contact me to get started at 360-697-1058 or dan@toroic.com

Here is my recent article published in Coach magazine for the Washington State Coaches Association.  This is a follow up to my previous blog post and video from ESPN’s Outside the Lines.

How Many Fingers Am I Holding Up?

Concussions Aren’t Just for Football Players Anymore

Dan Weedin, CIC,

Toro Consulting, Inc.

It was December, 2005 and I was coaching the first game of our high school basketball season at North Kitsap High School.  It was late second quarter and we were playing North Mason at home.  A North Mason player was heading on a two-on-one fast-break and my point guard Katie was in great position to take a charge.  As the offensive player made her move to the basket, Katie stood her ground, feet planted, in perfect position.

BAM!

The collision came and the referee signaled offensive foul.  Everyone on our bench and in the stands jumped up and cheered…except for Katie.  She lay motionless on the floor. 

When I went out to see her it was apparent she had suffered a concussion.  Her head hit the floor hard after the impact with the other player.  This was her second concussion in a couple of years.  Needless to say Katie didn’t finish the game and missed two more before she was cleared to play again.

It’s not only football coaches that should be worried about head injuries.  Concussions are common in most sports, especially basketball, soccer, wrestling, and baseball/fastpitch.  Any opportunity for contact with either another player or equipment lends itself to this peril.  In fact last winter, the UCLA basketball program was in the news as two of their players were out a significant time due to concussions. 

Concussions and other head injuries are tough to prevent.  They are part of the game.  That being said, as a coach, you can plan for them and how you respond.  As you head into a new year, now is the time for you as coaches to start preparing your game plan when it comes to head injuries.  What do I mean by that?

·         Regardless of your sport, make time in your pre-season meeting with players and parents to discuss the inherent dangers of your sport.  You need to lead off with a discussion about head injuries.  Document your presentation, both with the players and parents.  If you can, use video to record the meeting.  As I used to tell my players, the video never lies.  If you are ever accused of not warning properly, you now have proof.  Sorry…it’s the world we live in.

·         Don’t take chances.  It’s easy to say now that you won’t put an athlete back in a game after a head injury.  It’s harder when the game is on the line, the emotions are high, and he/she looks fit to participate.  Make a decision now that part of your game plan is to resist that urge and just say no.  At North Kitsap, we were fortunate to have a training staff that had to clear an athlete to play.  Most high schools don’t have that luxury.  And, if you think this doesn’t happen, think again.  The newspapers are filled with stories of kids who received serious injuries after going back in following a head injury.  Just say no.

·         Resist the urge to play them too soon after a concussion.  Look, I was one of you.  Good sense sometimes flies out the window in the middle of a season.  The player wants to play; the parent wants them to play; YOU want them to play.  The bottom line is that nothing is as important as your athlete’s health…period.  Once a player has suffered a concussion, it is easier to get another one.  Troy Aikman and Steve Young are perfect examples.  Wait to get medical clearance from a doctor before letting them back into play. 

There are two important factors you face with this issue.  The first is the long-term health of your player.  You have a great responsibility as their coach to protect them from undue harm.  Take that responsibility seriously.  The second is to protect you.  You have liability for their care.  If you don’t use best practices, you may find your name on the front page of the paper instead of the sports page…for all the wrong reasons.  If you do everything a prudent and educated coach should do when it comes to head injuries, you will be also protecting your reputation and career.

Best of luck to you this year.

Dan Weedin

©Dan Weedin, Toro Consulting, Inc. - All Rights Reserved

As a former high school basketball coach and the current risk management consultant for the Washington State Coaches Association (WSCA), head injuries is a topic I speak and write regularly on.  In fact, I have an article in the Fall edition of “Coach”, the WSCA quarterly journal.  I will post this article on my blog tomorrow.  For today, you are encouraged to watch this ESPN “Outside the Lines” feature that recently aired.  The need for proper training and support staff is critical for all high school athletics.  This 6-minute video is a good example for why…

You are invited to attend a webinar that I will be presenting on Tuesday, November 11th from 12:00-1:30 pm Pacific called “Your First Line of Defense”.  The webinar is being hosted by the Construction Specifications Institute (CSI). 

Employee lawsuits are up over 2200% in the last 10 years.  Many of these lawsuits could have been avoided using three of the key strategies I will unveil in the webinar.  As a business owner, the employees are the face of your business.  They also create one of your largest exposures if you don’t take the steps to make sure you are hiring, training, and mentoring correctly.  After this 90-minute seminar, you will have a game plan to make sure you don’t become a part of this growing statistic.

To reserve your spot, click here.  You will need to scroll to the top navigation bar and select, Event Registration.  Your investment is $75 for CSI members and $95 for non-members.

Even though this webinar is geared for the construction business, the strategies are relevant to all industries.  I hope you will join me on November 11th!

Is your agent doing all he or she can to improve their skills so as to help your business manage your risk?

I’m preparing tomorrow to give an educational training on commercial property insurance for a group of insurance agents.  Good for them that they take their education seriously.  Granted, many just need the credit hours, but I’ve found most are anxious for knowledge.  That’s good for you.  Why?

The more your agent knows about an ever-changing industry, the better served you will be.  That means better customer service, better pricing, and better coverage.  Your agents knowledge should be of paramount importance to you.

Ask them what they have done lately to improve their knowledge.  Are they working on any of the following industry designations…CPCU, CIC, CISR, CRM, CLU, ARM?

I know this looks like a bunch of alphabet soup.  You don’t necessarily need to know what they are or what they mean.  Your agent should.  Challenge them to grow in their business so they can help you with yours.

Do you own any commercial rental properties?  If you do, the tough economy and potential vacancies can threaten your insurance.

Your standard commercial insurance policy includes a vacancy condition.  This condition states that in order to maintain full coverage, at least 31% of the total square footage of your building must be rented.  Regardless of the number of tenants, the square footage is the determining factor in vacancy. 

What happens if your building is deemed “vacant”?  You lose key coverages for vandalism, theft, attempted theft, water damage, glass breakage, and sprinkler leakage.  Other covered claims like fire and wind will be reduced 15%.

Consider if you have three tenants in a 10,000 square foot building.  Two have 1500 square feet each and the third has 7,000.  If the larger tenant must vacate, even though two tenants remain, you as the building owner are in jeopardy of triggering the vacancy clause.

Note that their must be 60 consecutive days of vacancy in order to trigger the clause.  That being said, in these difficult times, there is a potential for this to happen.

Take the time to talk to your insurance agent if this happens to you.  You may need to find alternate insurance for a period of time.

Has your insurance agency gone paperless yet?  If not, why not? 

There is an excellent article by Ken St. Onge in the September 22nd edition if the Insurance Journal magazine.  It’s a special report on Agency Technology and has several stories of how being paperless has been beneficial to both agents and insurance clients.

In fact, yours truly is quoted in it.  “There is a growing need to keep documents longer.  I’ve had clients asked to show records going back over 30 years due to asbestos liability.  Now, with the increased technology, paperless documents are easier to save and store forever.”

If you’re the agent, think of how you are protected better for Errors & Omissions and how much better you can service your client.  If you are the client, ask your agent how their technology is benefiting you.  Use technology to your advantage and document your records better.

Who knows the next time you will need them.