SISL News – December 2011

SISL NEWS DECEMBER 2011

Simmlands Extends Base of Expertise

Simmlands is pleased to welcome Paul Best as the primary aviation underwriter for the 11/12 term, replacing Dominique Wilson, who is on maternity leave.

“I am delighted to be part of the Simmland’s team and I look forward to extending its scope of service in the area of aviation general liability and beyond.”

Paul will be underwriting both aviation general liability and hull and liability risks for Simmlands, and he can be reached at (416) 628-6647 or bestp@simmlands.com.  Simmlands Aviation specializes in:

• Aviation General Liability, covering premises, products and hangarkeepers liabilities.
• The Aviation General Liability (AGL) policy can include spares, airport contractors’ liability and non-owned aircraft liability coverage.
• The AGL also includes non-owned automobile (SPF No. 6) and liability for damage to “Hired Automobiles” (SEF 94).
• This year the AGL has been extended to include legal expenses and limited pollution coverage.
• In 2011 we have added capacity for Aircraft Hull and Liability for private and commercial aircraft operators (Private aircraft are subject to a minimum premium of $7,500; for commercial it’s $25,000).

In particular, Paul brings clients 40 years of experience and specialization in aviation insurance as both underwriter and broker.  Over that period he has specialized in all forms of aviation, including airlines, corporate jets, commercial and private aircraft operators, international & regional airports, manufacturers and maintenance organizations, and banks and major leasing companies. Additionally, he serves as a Civil Expert on Aviation Insurance to NATO – Civil Emergency Planning.  Previously, Paul chaired a committee of major insurers to develop a standardized approach to new regulations with the Canadian Transport Commission, acted as a member of a specialized team that responded to the events of 9/11 and associated difficulties in the war risk market and has published articles in various trade publications.

WHY K&R PROTECTION IS NOT JUST FOR CORPORATIONS

It is that time of year when people get ready to steal away from the daily grind and enjoy some time off.  And while conventional travel insurance has become fairly standard, Kidnap, Detention, Extortion and Hijack protection (K&R) is a more peripheral consideration that actually provides value and peace of mind for individuals and families preparing to travel.

With high profile news reports about kidnappings, drug wars and hostage scenarios, in popular vacation destinations like Mexico, Jamaica, Dominican Republic and even parts of Europe, travelers are becoming savvier in their planning process.

The repercussions of these unexpected events are devastating to families. Securing the release of a hostage or kidnap victim is an emotional, delicate, sophisticated and costly balancing-act.  The stresses of practical considerations such as raising ransom monies, dealing with local and national law enforcement agencies, relevant governments and the media, mount with each passing hour.  In light of this, the benefit of having a specialist crisis management team, included with insured coverage, is truly invaluable.  ASI Global Response will act independently of the Insurer, with their sole priority being the victim’s safe release while managing the expectations and concerns of the family.

K&R is not merely a corporate product. Families planning vacation travel into high-risk zones may want to consider buying coverage to have peace of mind in the face of an unexpected crisis.  Families with young adult children who plan to take a year off to travel the world during or following their undergraduate studies, would also be good candidates, particularly young women traveling alone or in small groups.

Special coverage extensions speak well to this market including:

• Disappearance Investigation and Expense
• Express Kidnapping
• Child Abduction
• Threat Response
• Hostage Crisis

For more information about K&R coverage for families and individuals, contact Sophie Egnatis at 416.408.5465 or egnatiss@simmlands.com.

DON’T GET LOST IN THE DETAILS – KNOW YOUR HEALTHCARE CONTRACT

Healthcare contracts and agreements are complicated and sophisticated even under the most standard of circumstances. But add outsourced, private service providers to the equation, and an organization’s insurance coverage can be affected in ways that brokers cannot always anticipate.

To preserve the integrity of the coverage, contracts between Allied Health Care organizations and their professional contract services providers need to clarify the intent of responsibility and indemnification in the event that something untoward takes place with one of their patients.

For instance:

• Is it the intention of the Insured to accept responsibility for the contracted service professional’s errors?
• If not, how does the contract address the requirements of contracted service professionals and insurance? Are they required to carry professional liability insurance?
• Is the limit of insurance adequate for the services they are providing? Is the contract professional required to provide proof of adequate insurance to the Insured?
• How do the insurance and indemnification conditions in the contract measure up to the conditions of the Insured’s insurance coverage?
• Does the existing insurance coverage need to be revised to respond to conditions established in the contract?

Brokers don’t always have the time or resources to identify these issues and respond to them effectively. Simmlands offers expertise in this particular niche area of service. The Simmlands healthcare team brings decades of experience with contract reviews and can recognize if healthcare organizations are vulnerable to circumstances that compromise the insurance coverage they maintain. And most importantly, Simmlands can determine how best to resolve these conflicts and fill the gaps strategically and effectively.

For more information, contact Janet Saunders at 416.408.5654 or saundersj@simmlands.com.

LOVE YOUR CLUBS – NO-FAIL STRATEGIES TO ENSURE THEY SURVIVE THE WINTER SEASON

While a golf club or driving range policy may provide comprehensive coverage, there may be certain circumstances that put golf clubs at risk. Especially during the winter season, golf clubs become vulnerable to environmental influences that can have negative impact.

There are preventative steps that golf facilities can undertake to make certain that they are protecting their clubs and guarding against these risks.

Simmlands is pleased to share these constructive suggestions:

• Keep heat levels to a minimum to prevent pipes from freezing.
• Turn off draining pipes in parts of the building that are not visited regularly in the winter months.
• Clear snow off roofs and structures to prevent their collapse.
• Take regular tours to survey the property and ensure its safety and soundness.

If you follow these preemptive steps, then your clubs will be protected through the winter months and ready for game play when the golf season begins!

For more information, contact Connie Vaccaro at 416.408.5461 or vaccaroc@simmlands.com.

CASE STUDY – HOW CANCELLATION POLICIES SPARE YOU GRIEF IN THE FACE OF UNEXPECTED CIRCUMSTANCES

We have all heard those horrible stories of last minute catastrophes and unanticipated mishaps that have forced event planners to cancel major concerts and presentations. The news is riddled with tales of collapsed stages, performer walkouts and last minute weather disruptions.

But when these cancellations occur, the grief and frustration incurred by the organizers and investors could have been spared by the purchase of a simple cancellation policy.

Simmlands’ cancellation products are perfect for event organizers, planners, theatres, performers, tour organizers and venue operators.

Specifically, the policy provides coverage for:

• Cancellation or Abandonment of the Event due to causes beyond the organizer’s control (including adverse weather)
• Loss of the venue as a result of physical damage to the event
• Loss of revenue or costs incurred to re-schedule or reimburse tickets sales
• Non-appearance of the artist as a result of accident or illness

In the case of cancellation, the costs incurred for the loss of income for future concerts planned, loss of deposits to rental locations, and reimbursements to ticketholders, etc. can be easily avoided.

For more information contact Mike McDermott at 416.408.5460 or mcdermottm@simmlands.com.