Protection Detail: Insurance Coverage in 2012 Presented By: Nezih Hasanoglu and Kim Singleton M3 Insurance Solutions for Business

Agenda 1.Insurance Coverage a. General Liability b. Property/Inland Marine c. Foreign 2.Broker Services a.Business Plan b.Strategic Planning Meetings c.Insurance Audit 3. Questions and Answers

Not Addressing These Coverages Auto Workers’ Compensation Umbrella Directors’ & Officers/EPL/Fiduciary Cyber Liability Other Specialty Coverages

General Liability (CGL) (definition) A standard insurance policy issued to business organizations to protect them against liability claims for bodily injury and property damage arising out of premises, operations, products and complete operations; and advertising and personal injury liability.

Questions to Ask Do you provide advice to clients on proper exhibit design? Are you responsible for the delivery of the exhibit to the correct venue and on time? Are you responsible for any changes or modifications in design plans? Are you responsible if the exhibit is lost?

Questions to Ask Are you responsible for your customer’s financial loss for any reason? Do your customers share trade secrets with you and your employees? Do you perform work on your customers exhibits?

Risk Management Solutions Consider purchasing a professional liability policy. Almost any firm that performs a service with potential to cause financial harm to a client has a professional exposure that is not insured by a standard general liability policy. Review contracts with legal to better understand the risks you are assuming. Consider having a relationship with a rental company.

Risk Management Solutions Modify the care, custody and control exclusion. Add the Legal Liability Coverage Form CP Pays sums you are legally obligated to pay as damages including loss of use. The covered property (customers trade show booth) must be listed in the declarations. Confirm your property policy has property of others in the definition of covered property.

Property (definition) First-party insurance that indemnifies the owner or user of property for its loss, or the loss of its income- producing ability, when the loss or damage is caused by a covered peril, such as fire or explosion.

Inland Marine (definition) A group of property insurance coverages designed to insure exposures that cannot be conveniently or reasonably confined to a fixed location or insured at a standard rate under a standard form.

Questions to Ask Are you responsible for the transit of your customers exhibit? Are you responsible for your customer’s exhibit while it is at the venue waiting for installation? Will you suffer a financial loss if the exhibit does not arrive at the venue? Under what circumstances?

Questions to Ask Will you incur additional expenses if the exhibit is damaged while in transit? Are you responsible for your customer’s property while it is stored off premises or at the venue? Are you responsible for your customer’s software?

Risk Management Solutions Extend the coverage for property of others while in transit and at undescribed premises. Add installation coverage for property of others held at an exhibition site. Add property in transit-time element coverage. Add property at undescribed premises-time element coverage.

Foreign (definition) A specialty policy for an insured’s liability for foreign operations arising out of business conducted in another country.

Questions to Ask Are you shipping exhibits overseas? Are your employees traveling outside of the United States? Are you providing services overseas? Do your employees rent automobiles while traveling overseas? Do you store property overseas? Do you have foreign sales?

Risk Management Solutions Purchase a foreign package policy. Minimal property coverage is built into the foreign package policy. Deduct the foreign revenue from the domestic general liability policy as the exposure will now be insured on the foreign policy. Foreign Workers Compensation is included in the package as well as repatriation expenses. Consider purchasing a kidnap and ransom policy (depending on countries traveling to).

Risk Management Solutions Educate your employees that they must purchase the insurance from the rental car agency when traveling outside of the United States. Find the right broker. If you have a permanent location in another country often times you will need to purchase the insurance from an agent and insurance company licensed to do business in that country.

Broker Services Business Plan Strategic Planning Meetings Insurance Audit

Questions to Ask Do you have a business plan? How often do you meet with your insurance broker? When is the last time you conducted a policy audit of your program?

Business Plan What are your goals? What tasks need to be completed to accomplish your goals? Who will be responsible for these tasks? What are acceptable dates for completion?

Strategic Planning Meetings Policy Delivery Mid Year Strategy Meeting Pre-Renewal Meeting Renewal Meeting

Policy Delivery Meeting Days Following Renewal Deliver Copies of Polices Review Updated Copy of Insurance Summary Make Necessary Updates & Changes

Mid Year Strategy Meeting Middle of the Policy Period Review Current Insurance Summary Discuss Changes that Have Occurred & Make Adjustments Upcoming Renewal Projection Review Status of Business Plan Set Expectations

Pre-Renewal Meeting 90 Days Prior to Renewal Date Review Information Compared to Previous Year Compare Rates Year over Year Review Premium vs. Loss Ratio Discuss Strategy for Upcoming Renewal Discuss Your Expectations Set a Timeline to Execute

Renewal Presentation Meeting 30 Days Prior to Renewal Date Review Renewal Proposal Review Alternative Options Discussed from Pre-Renewal Meeting Make Any Final Adjustments Review Completed Business Plan

Insurance Audit Review Current Policies Including Endorsements Cross Reference Insurance Summary to Policies Analyze Loss Runs for 3 to 5 Years

Q & A Thank you for your time Nezih Hasanoglu Kim Singleton