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Scott Risk Performance Group
Disaster Preparedness & Planning Jacob E. Dahlin CIC, CRM Jennifer Burchette CIC, CRIS, CPIW, ACSR Scott Risk Performance Group
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Objectives Disaster Case Example – Fire at Residential Community
How will my insurance policy respond? Impact on Housing Tax Credits Insurance Coverage Common Pitfalls Disaster Preparedness & Prevention Plan Important Considerations Challenge Questions & Answers
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“Resident dead after fire at residential home”
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How will my insurance policy respond?
Is it covered – what is covered? How much? Role of the insurance adjuster? Role of the risk advisor? Role of the property owner?
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Period of Restoration How long to rebuild?
Factors that slow down the rebuild How long to be back into operation? Claims handling process from start to finish
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Insurance Coverage Common Pitfalls
Uncovered peril Insufficient limits Co-insurance penalty Ordinance of law Business Income Debris Removal Back up of Sewer and Drain Protective Safeguard Endorsements Tenant Damages
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Impact of Housing Tax Credits
Impact of CAT loss in first year Unit must be habitable by year end Penalties typically not covered unless endorsed Notify carrier and investor immediately Get investor approval for advance to begin restoration Insurance Stand-alone policies vs. endorsements Cost varies Carriers: Travelers, Lexington, etc.
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Other Catastrophic Exposures
Wind Flood Earthquake
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Other Lines of Coverage
Workers Comp Commercial Auto General Liability Professional Liability / E&O
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Contractual Risk Transfer
Written Contract Identification & Hold Harmless Agreement Insurance Coverage Certificate of Insurance
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Disaster Preparedness & Prevention Plan
Do you have one in place? When was it reviewed last? Have you practiced it? Predicting the future Additional Resources:
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Important Considerations
Common Perils Fire, Weather, Crime, Medical Roles & Responsibilities Who, What, How, Why Don’t forget Investor Notification Requirement CAHEC – 48 hours within occurrence Risk Performance Activities Proactive Defenses
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Safety is not the absence of accidents, but the presence of defenses!
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Defenses = Activities Identification & Correction – Physical Hazards
Expectation & Communication Performance Observation & Coaching Event Learning Employee Education & Learning Continuous Improvement
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Challenge Find your insurance policies Scrutinize them
Find your Preparedness Plan Scrutinize it Involve your Management Team Exercise it and practice Remember the financial stakeholders Investors, Equity Members, Lenders, etc.
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Questions? Contact for Additional Information:
Jacob Dahlin – Jennifer Burchette –
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