E&O Weekly Prevention
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June 14, 2012


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Letter from the Editor

Letter from the Editor


This week we have an Insurance Alert from the Virginia High Court, which again finds no "Occurrence" in a Global Warming case.  We also have 3 great articles that you may find of interest: Curtis Pearsall talks about insuring personal watercraft and boats, while Don Dzubak gives us some insight on why you should be using LinkedIn to generate leads, and finally Charles Wilson gives us his perspective of "Unintended Consequences." Please enjoy and also note, if you have any questions or comments, please free to contact me at info@agentsofamerica.org
AgentsofAmerica.org Forms Strategic Partnership with ANDREW BARILE CONSULTING CORPORATION, INC 

Andrew Barile Consulting Corporation, Inc is a full service, independent consulting firm. They offer a wide range of strategic consulting and management services to both individuals and firms that need to evaluate, quantify and manage insurance risk. Mr. Barile has over 40 years of experience which expands the entire insurance distribution system. He has an intricate knowledge of the insurance and reinsurance industries, having been a practitioner in all phases of the industry. 
Andrew each month will be writing a column, entitled, "STRATEGIC INSURANCE TIP", his primary objective will be to educate our readers with some insights and strategies  relative to  the insurance  and reinsurance marketplace. 
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"Bringing the Best Together"


Brit Weimer



AOA News, Views, Tips & More


Strategic Insurance Tip

By Andrew Barile of Andrew Barile Consulting Corporation, Inc.

At captive insurance companies, the role of the experienced Independent Director is expanding. The current captive insurance company expansion is pushing captive to appoint insurance experienced, independent directors to their boards to supplement the risk manager, corporate controller, and chief financial officer of the parent corporation.

Many Independent Directors have had experience in testifying at trials in insurance/reinsurance disputes. The Independent Director becomes part of the task force to select an insurance/reinsurance litigation law firm to represent the captive owner in a dispute over reinsurance agreements, reinsurance recoveries, etc.

To view more comments about Independent Director, see Andrew Barile Consulting Corporation, Inc.'s website www.abarileconsult.com or Contact Andrew at abarile@abarileconsult.com or (619) 507-0354



RiskSmart Solutions - Risk Management Tip  

By Charles T. Wilson of RiskSmart Solutions® 
See also his article, "Great Plans - Unintended Consequences
Complexity in today's world can be daunting - for solving business problems, keeping employees safe, creating the right incentives to match business goals or just improving school results for our kids. 
We all need to stop, look and listen before jumping into a new solution. Don't let what seems "urgent" prevent reflection and discussion with colleagues, employees and even customers and suppliers. Clear communication and careful oversight can prevent major hassle and significant losses when the law of unintended consequences comes into play. 
Contact Charles at charles@risksmartsolutions.com | 510-685-3883 Or visit www.risksmartsolutions.com


Question: On the subject of E&O loss prevention, how would you gauge your agency's culture and commitment compared to last year at this time?

Significantly better / more focused 70%
Somewhat better 15%
About the same 10%
Somewhat worse 5%
Significantly worse / have regressed 0%




Table of Contents


Insuring personal watercraft and boats -- The right coverage makes for calm E&O sailing 

By Curtis M. Pearsall, CPCU CPIA of Pearsall Associates Inc.


Great Plans - Unintended Consequences

By Charles Wilson, CMC, CRM, RPLU 


Why Should You Be Using LinkedIn to Generate Insurance Leads?

By Donald J. Dzubak of Parasol Financial & Insurance Solutions


article1Insuring Personal Watercraft and boats - The Right Coverage Makes for Calm E&O sailing
By Curtis M. Pearsall, CPCU CPIA of Pearsall Associates Inc.

With most Americans living within a short distance of an ocean, lake or river, agencies can count on their customers turning to the water with their various watercraft "toys" for some great summer enjoyment. Since watercraft comes in a multitude of shapes and sizes, understanding the differences in insuring them can keep your agency from running aground with an E&O claim.  












article2Great Plans - Unintended Consequences
By Charles T. Wilson, CMC, CRM, RPLU

We've all heard of the Law of Unintended Consequences.  It's amazing how it creeps surreptitiously into so many great business plans.

Great plans can solve real problems ~

  • A multi-location retail chain with challenging Workers' Comp losses decides to set up an incentive plan for store managers.  Fewer losses would mean higher bonuses.  




Firebrand Social Media   





article3Why Should You Be Using LinkedIn to Generate Insurance Leads? 
By Donald J. Dzubak of Parasol Financial & Insurance Solutions 

Founded in 2002 and launched in May of 2003, LinkedIn has grown to be one of the largest professional networks with around 135 million users in more than 200 territories and countries around the globe. With that being said, many professionals have been turning to LinkedIn for nearly a decade to network and communicate with other professionals around the world, and if you're not one of them, then you're missing out on an opportunity to access millions of insurance leads via the Intranet.


articlefourOn Rehearing, Virginia High Court Again Finds No "Occurrence" in Global Warming Case
By Wilson Elser Moskowitz Edelman & Dicker LLP

Prior Decision

In The AES Corporation v. Steadfast Ins. Co., the Virginia Supreme Court became the first state supreme court to hold that damages in a global warming suit allegedly arising from the intentional emission of greenhouse gases did not arise from an "occurrence" as that term is defined in the relevant policy. 

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