| Greetings!
Sssssssssssssssh. Do you hear that? Listen closely... it's the sound of cleats hitting fresh turf... of pads crunching against each other... and it's getting louder. The 2010 NFL season will be underway in 6 days and a matter of hours (not that I'm counting). Don't hate me because I'm a Steelers fan... I enjoy the game just like any other man. ;-)
Until September 9th, however, we're still in preseason. While I don't find it nearly as interesting as the official season, these games do have a positive side. Coaches get to test out lesser known players that might not see much action once the big boys come to play. They can give them a little field time and really test their talent ... see how they respond under pressure... maybe take away some of those jitters that rookies battle. The best thing about preseason it this: it doesn't count. No matter what happens, or how badly you lose, everyone knows that it won't be held against you in the end... this is preseason. It's MADE for going all out and taking risks. It's not about the end result of the game, it's about taking stock and learning from your mistakes.

Unfortunately, life has no preseason. The decisions you make each and every day DO have consequences and affect the future. That's why it's important to take steps now to manage risk and protect your investments - before (God forbid) you hit a losing streak. So let me ask you a question: when it comes to the game of life, who's your coach? Here at Mason & Mason, we're proud to help you come up with the game plan for safeguarding your team. We have an experienced staff of insurance specialists who are committed to helping you design plays, avoid injury, and make necessary adjustments as your defense requires them. Most of all, we love offering necessary encouragement and cheering you on as you succeed.
If you're looking for a new coach with better ideas, consider looking at Mason & Mason. Talk to those who are already working out with us. You have nothing to lose... but chances are if you give us a chance, your stats will improve greatly. Best of all, you'll experience the rewards of having a coach who understands not just your needs, but how to make the most of what you've got.
Who doesn't like to win?

Tom Messier, Vice President
Mason & Mason Insurance Agency
M&M Assurance Group
P.S. If you enjoy this newsletter, check out our website at www.mmins.com. Click the "Clients" tab at the top of the page and then enter the site with username: "Client" and password: "INFO4U". You'll find more helpful articles on a wide range of topics. You can also check us out on Facebook! If you have any questions, give us a call at (800) 298-0802. We'll be happy to hear from you! |
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WILL YOUR BUILDERS RISK POLICY COVER DELAYS IN PROJECT COMPLETION?
Work on the new office complex was progressing on schedule. The owner had lined up tenants for two-thirds of the space and was in talks with several others. The general contractor expected to finish construction on time. All that changed when a fire broke out on the first floor late one afternoon. It spread from a stack of drywall awaiting installation to a pile of scrap plywood, where the wind picked up the flames and carried them to the structure. Drywall, insulation and plastic wiring all soon ignited. Firefighters were able to contain the blaze and limit the damage. However, it would now take an additional two months to complete the project because the contractors would have to clean up the debris from the fire and ensuing water damage, order replacement materials, and re-do much of the first floor's construction. The owner faced the certainty of thousands of dollars in lost rents and additional interest on the construction loans.
The owner and general contractor had purchased a Builders Risk insurance policy to cover damage to the project. They would have coverage for the lost rents and interest expenses if the policy included special protection known as "Soft Costs Coverage." Soft costs are costs or reduced income resulting from a delay in a project's completion. They include expenses such as:
- Lost rents
- Additional interest on loans
- Additional real estate taxes
- Additional advertising costs
- Additional insurance premiums
Some Builders Risk policies have this coverage built in, while others provide it only if the insurance company adds it and charges an additional premium. The insurance covers...
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WHAT ARE YOU REALLY BUYING WITH A CONTRACTOR'S EQUIPMENT POLICY?
Contractor's Equipment insurance is an essential part of any construction firm's insurance program. Commercial Property insurance covers a business's personal property while it is at a location listed on the policy, but it does not cover property that moves among different locations. Business Automobile insurance does insure property that moves around, but it does not cover "mobile equipment" -- property such as bulldozers, loaders, digging equipment, and power tools that the business uses off its own premises. Power tools might cost only a few hundred dollars, but large pieces like backhoes and excavators might be worth tens of thousands of dollars. To properly insure such property, the firm needs Contractor's Equipment insurance.
A typical Contractor's Equipment policy will cover the insured's owned pieces of equipment listed on its declarations page or a separate schedule. It will also cover equipment that someone else owns and that is in the insured's care, custody, or control. For example, the policy will cover a loader that the insured borrows from another contractor on a job site or that it rents from an equipment dealer. It might also provide one amount of insurance to cover a group of less expensive items, such as power hand tools. For example, it might provide $10,000 coverage on tools but no more than $500 for any one item. It will not cover...
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MEMA Offers Hurricane Preparedness Tips
Family Hurricane Preparedness Tips
As we enter the 2010 Hurricane Season, which experts are predicting to be very active, the Massachusetts Emergency Management Agency (MEMA) is offering personal preparedness tips for the all of the citizens of the Commonwealth.
"Every home and business should have a stocked basic emergency supply kit that could be used for any emergency, regardless of the time of year," states MEMA Acting Director Kurt Schwartz. "Everyone should keep certain items around the house and workplace in the event you are isolated for three to five days without power."
Each kit will be unique to each family, but should include a portable radio, flashlight, extra batteries, a supply of non-perishable foods, along with bottled water, a first aid kit, extra prescription medication, and extra food and supplies for infants and pets.
"All families should develop a 'Family Emergency Communication Plan' to help ensure everyone is safe. You should contact your local authorities to learn about your community's potential evacuation routes and the location of emergency shelters," said Schwartz. "It is important to familiarize yourself with your Community's Emergency Plans before an emergency situation occurs."
Develop a Disaster Supply Kit 'Go Bag', with essentials in case you must evacuate quickly.
1. HURRICANE DISASTER SUPPLY KIT
- Canned goods and nonperishable foods that do not need cooking:
- Canned meats and fish
- Canned fruits and vegetables
- Canned soups and puddings
- Canned fruit juices
- Dried fruit and nuts
- Bread, cookies and crackers
- Peanut butter and jelly
- Coffee and tea
- Manual can opener
- Bottled water (1 gallon per person/per day)
- Prescription medication (2 week supply)
- Extra eyeglasses
- Pet food/supplies
- Water purification tablets (halazone)
- Disposable plates, cups, and utensils
- Infant care items:
- Disposable diapers
- Baby wipes
- Baby food
- Formula
- First aid supplies
- Masking and duct tape
- Flashlight or lantern, with extra batteries
- Battery operated radio, with extra batteries
- Watch or battery operated clock
- Ice chest
- Matches
- Canned heat (sterno)
- Portable outdoor camping stove or grill with fuel supplt
- A certain amount of cash
- Important documents (Such as wills, deeds, prescriptions, passports, birth certificates, health record, proof of address, Social Security number)
- Plastic trash bags
- Plastic sheeting or tarp
- Chlorinated bleach
- Personal hygiene items
- Other useful items:
- Work gloves
- Sun lotion
- Insect repellent
- Hammer
- Screwdriver
- Pliers
- Wrenches
- Handsaw
- Razor knife
- Ax or chainsaw
- Rope caulking
- Nails and screws
- Rope and wire
- Broom, mop and bucket
- All-purpose cleaner
- Ladder
- Sandbags
- Portable generator
- Tree pruner
- Shovel, rake and wheelbarrow
- Sheets of plywood
2. FAMILY EMERGENCY COMMUNICATIONS PLAN
Develop a Family Emergency Communications Plan in case family members are separated from one another during an emergency (a real possibility during the day when adults are at work and children are at school, camp or at a friend's house). This plan should also address reunification after the immediate crisis passes.
- Ask an out-of-state relative or friend to serve as the Family Emergency Communications Plan contact person. During and immediately after a disaster occurs, it is often easier to access a long distance telephone number than a local one. Also, calling outside a disaster area is usually easier than calling into the same area.
- Make sure everyone knows the name, address and telephone number of the Family Emergency Communications Plan contact person.
- Designate two meeting areas for family members - one within your community (your primary location), and one outside of your community (your alternate location). Sometimes an emergency could impact your neighborhood or small section of the community, so a second location outside of your community would be more accessible to all family members.
A Family Emergency Communications Plan can help reassure everyone's safety and minimize the stress associated with emergencies.
3. STAY INFORMED
Educate yourself and family about emergency plans for your community, place of business, your child's school and camp. Know what potential risks your community and neighborhood are susceptible to in a hurricane, such as storm surge, flooding, etc. Carefully monitor the Media and follow instructions from Public Safety officials as hurricane approaches.
MEMA's Hurricane Tips for Business Owners
The business community should be aware of the potential of hurricane damage in the Commonwealth. Each business owner should prepare or review their own Preparedness and Recovery Plan. 'Business as usual' will not happen without good planning.
- Review your property insurance with your insurance agent. Take photographs or make a video of your business establishment, both inside and outside.
- Determine and establish a written Hurricane Preparedness Plan for your business and its contents. Coordinate this plan with local and state officials. Specify the conditions under which the plan will be implemented.
- Test your plan, reviewing it annually. Establish an employee-training program on your Hurricane Plan.
- Make plans for protection of your computer files, including an off-site back-up system to secure and safely store data.
- Protect corporate records, keeping duplicates at an alternate location.
- Well in advance, acquire emergency protective equipment and supplies. Heavy plastic sheeting, duct tape, sandbags, emergency generator, chain saw and large pieces of plywood will help protect your property.
- Bring in display racks and other objects, such as trashcans that might cause damage if airborne.
- Remove outdoor signs, especially those that swing or are portable.
- Move merchandise, equipment or furniture away from windows or skylights. Elevate boxes or equipment, if possible.
- Turn off electricity and disconnect all electrical appliances and equipment (except for refrigeration equipment), in case there is a power outage. An ensuing power surge could be damaging to connected equipment.
- Inform all employees on when and how you will notify them to report back to work.
- Develop an employee identification system, such as picture ID badges. This may help employees gain access to the area after a hurricane.
- If possible, make arrangements to pay employees in cash. It may be several days before banking institutions are operational.
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About Mason and Mason
For more than 20 years we've been committed to meeting the insurance and bonding needs of the construction industry. The success and leadership of our practice has led to strategic and proprietary relationships with insurance companies similarly committed to the industry. Our clients benefit from our insurer relationships in the form of products designed with their special needs in mind. Our access to many construction specialty insurers also assures our clients are afforded a range of options at various cost levels in order to match the level of protection for their particular needs. As important as these insurer relationships are, our true competitive edge is the people who serve our clients. We have team of construction insurance professionals who understand the complexities of the worker's compensation and general liability insurance regulatory environment as applied to the industry. We leverage this specialized knowledge and our broad risk management expertise to the benefit of our construction industry clients.
Mason and Mason Insurance M&M Assurance Group 458 South Avenue 3304 White Mountain Hwy Whitman, Massachusetts 02382 North Conway, NH 03860 T (800) 759-1452 T (800) 298-0802
F (781) 447-2832 F (603) 356-9290 |
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Many thanks to those of you who have already contributed to the Africa Bike Drive! This month saw us reach the 400 mark, but we've a ways to go yet! We need all the help we can get to make our goal of 500. Our scheduled ship date is October 2nd. Please contact me today to see how you can help out this great cause! |
BUSINESS OWNERS: PROTECT YOUR COMPANY WITH EPLI

Some of the most common lawsuits heard in courtrooms are discrimination suits against businesses. This is confirmed by the fact that in 2009 more than 130,000 complaints were filed with the Equal Employment Opportunity Commission alone. There is no officially estimated figure as to the total cost of discrimination lawsuits on businesses, but a reasonable estimate is around $2 billion per year.
Fortunately, there is an insurance product designed to protect businesses from these kinds of lawsuits: Employment Practices Liability insurance (EPLI). Insurance companies offer EPLI as part of their Business insurance product line. However, there is a disparity involved: a lot of eligible companies do not purchase EPLI. Despite the fact that the United States has become a litigious society, and despite the huge costs to businesses who do not have this kind of insurance, it seems odd that so many would resist protecting themselves from this incredible liability.
Regrettably, there are many myths about EPLI that have taken hold in the popular business consciousness. It is necessary to dispel these myths in order to drive home to businesses that they need to...
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