1. Area Agencies on Aging Insurance and Risk Management Issues by Jeff Cole McNeary Consulting Services

2. Insurance and Risk Management Issues
Current Insurance trends by line coverage
Insurance Market predictions for the next 12 months
Insurance Program Tips
General Insurance tips
Summer workforce tips
Open discussion

3. Current Insurance Trends by Line of Coverage
Property
General Liability
Automobile
Excess Liability
Workers Compensation
D&O

4. Current Insurance Trends for Property Insurance
No credits
Higher deductibles
Restrictive underwriting

5. Current Insurance Trends for General Liability Insurance
More exclusions
Higher rates
Restrictive underwriting

6. Current Insurance Trends for Automobile Insurance
Vehicle use important
Higher rates
Higher deductibles
Restrictive underwriting

7. Current Insurance Trends for Umbrella or Excess Liability Insurance
Higher limits not available
Higher per million premium
Exclusions
Restrictive underwriting

8. Current Insurance Trends for Workers Compensation
Markets through larger agencies
Loss experience important
Smaller premiums limit markets
Mandatory terrorism coverage charge
Very restrictive underwriting

9. Current Insurance Trends for Directors and Officers Liability Insurance
Minimum premiums are getting higher for not-for-profits
Higher per million premium
Higher per claim deductibles
Over-kill underwriting

10. Insurance Market Predictions for the Next 12 Months
Premiums
Limits
Insurers
Brokers

11. Insurance Market Predictions for the Next 12 Months-Premiums
Overall premiums increases up 20 percent (C I A & B -first quarter Survey)
Auto increases 10-30%
Property increases 10-20%
D&O increases 10-30%
EPL increases 5-20%
General Liability increases 5-20%
Workers Compensation 10-30%
Insurers

12. Insurance Market Predictions for the Next 12 Months-Limits
More willing to offer higher limits on most policies but still be expensive
More willing to offer higher property limits
Will continue to restrict D&O limits
Will continue to restrict EPL Limits
Higher umbrella limits should be available except over medical mal coverage

13. Insurance Market Predictions for the Next 12 Months-Insurers
Low investment income gains will affect rates
More instability and AM Best rating problems
Require a ton of info on insureds
Good loss ratio insureds will get the best pricing and terms
Difficulties with Insurance Department
Insurers

14. Insurance Market Predictions for the Next 12 Months-Brokers
Less of them
Risk Management Services-Claims/RC
Insurers are being very selective of the brokers they contract with

15. Insurance Program Tips
Time: Plan ahead
Brokers/Agents: Institutional vs. market knowledge
Underwriters: Go meet them
Claim Adjusters: Let them know you are watching
Showcase
Cost: Seek an alternative for the mostly costly policy
Coverage: Based on your claims history, how much is needed?
Broker/Insurer Service: Require what you really need and get it in writing

16. General Insurance Tips
Certificates of Insurance from contracted services
Procurement-attract markets
Keep good loss run records
Know the difference between GL and PL
Vehicle use policy
Be the squeaky wheel
Risk management audit
Insurance Program reference book or manual

17. Preventing Injuries Among Seasonal Work Force Tips
Make safety cool
Keep a sharp eye out
Repeat messages frequently
Train
Buddy up
Hold managers accountable
Reward

18. McNeary Insurance Consulting
Questions????