Message from the CEO 
New Day's Branding Update  
Have You Seen New Day's New Look  
 
If you haven't seen New Day's new look yet, we invite you to check it out.  From our website to business cards to presentations and collateral materials, we have updated our look for a more consistent and updated design across all of our marketing and sales tools.  Our website is user friendly and easily accessible across all types of devices. 

Participation in Conferences 
NASBP and InCite Performance Group 

New Day attended both the National Association of Surety Bond Producers (NASBP) Conference and the InCite Performance Group Extreme Networking events this past quarter. 
 
The NASBP event was the first for New Day and coincided with the 75th anniversary of the organization.  It was great to see many of our clients and partners at the event as we look to reinforce relationships with them and to meet some new ones as well.
 
As an ongoing strategic partner of the InCite Performance Group, it was great to see so many of our partners and absorb the information to assist in making them better at what they do.  The ironic thing is that looking from the outside you would say that these agencies don't need much improvement.  As a result, their ongoing effort to provide better and more efficient servicing makes them so much better.
Managing Risks Associated With Design/Build
Joe Nawa's Recently Published Article  

Traditionally, construction projects were oftentimes completed using the design/bid/build methodology.  However, in recent years, owners have opted to utilize the design/build methodology in an attempt to speed up the entire construction process to bring the project to life quicker compared to traditional construction methods.  In his article recently published in Construction Business Owner and titled, "Managing Risks Associated with Design/Build," Joseph Nawa discusses the design/build project delivery method, its associated risks and the various insurance coverage options available to project design/build contractors. Read the complete article here and call your New Day consultant today for more information.
New Day Welcomes...  
Cory Piskin, Jaime Lawson, Connie Menio and Shane Kilduff 
 
It has been a busy quarter with regards to recruiting at New Day. Please join us in welcoming four new employees to the New Day team. Cory Piskin, Consultant and Connie Menio, Account Manager, have joined New Day's Construction Group.  Jaime Lawson, Account Manager and Shane Kilduff, Account Administrator have joined New Day to support both the Real Estate and Construction Groups.  Please click their names below to learn more.

Cory Piskin
Jaime Lawson
Connie Menio
Shane Kilduff 
New Day Visits New York City
Staten Island Ferry and A Broadway Show  
 
The New Day team spent the day in New York City on May 24th.  We relaxed and enjoyed the view of the Statue of Liberty and Manhattan as we rode the State Island Ferry. A few of our employees were excited to spot Kevin Spacey as they were on their way to lunch in Times Square.  Everyone really enjoyed the Broadway show A Bronx Tale followed by a nice Italian dinner. 

Thank you to all of our partners for allowing us to enjoy the day.

 
Annual Family Day
Family Fun at the Trenton Thunder  
 
New Day recently held it's annual Family Day at the Trenton Thunder.  Adults and children all had a great time watching the game, socializing and of course eating and drinking.

 
Risk Tip
Late Claims Reporting
By:  Tim Farrell  

"Early and often" goes the answer to the old joke - how do people in Chicago vote?  The same goes for reporting claims, incidents, accidents, issues or disputes - especially when it involves claims made coverage, like professional liability.  Most of us have probably instructed Insureds to report issues right away and yet many go unreported resulting in claims denied by the carrier due to late reporting or violating the reporting provisions in the policy. 

There may be plenty of reasons for not reporting the incident but few are acceptable to the carrier and that percentage only goes down based on the jurisdiction. 

Below are some examples of the rationale and misunderstandings some may encounter with Construction related professional liability claims:
 
  • I was waiting for the actual complaint to report it to the carrier
  • I can fix the error myself 
  • I don't want to report the incident since it will be within my retention or deductible 
  • I don't want to report it because then someone will realize I messed up
  • My renewal premium will increase
  • I thought my general liability carrier would cover it 
  • I didn't know I had "that" kind of coverage
Ultimately, these are excuses and just that. They can easily jeopardize an otherwise covered claim as well adversely affect subsequent insurance renewals.  

Our clients not only need to be reminded of this topic, but are encouraged to change the mindset and culture around identifying a potential problem. Employees need to know that reporting this information, when initially identified, is required and expected, and will not be perceived negatively. Additionally, protocol should exist where this information is provided to the Insured's Risk Manager, Directors, officers or others designated in the policy, in a timely manner. Lastly, when reporting a general liability claim it is always good practice to report it to the contractor's professional liability carrier. So many times during the investigation of the GL claim errors in professional services or design are encountered or discovered. Depending on the reporting provision in the policy this could impact the Insured's position. 
 
So remember the old "voting joke" next time your architect, engineer or contractor tells you they have a problem.   
Employee Spotlight
Heidi Burke, CISR, CRIS 

Heidi Burke is an Account Manager in New Day's Construction Group. Meet and get to know Heidi as we sit down for a Q&A session.

Read more about Heidi here. 
New Day Successes
Recent Placements

Risk Type
Product Type
Premium
Construction
Construction of new university engineering center/labs/ classrooms
Owners Protective Professional Indemnity
$900,000
Mechanical/HVAC Contractor
Contractors Professional and Pollution Liability
$20,000
Steel Erection/Fabrication Contractor
Contractors Professional and Pollution Liability
$25,000
General Contractor
Contractors Professional and Pollution Liability
$18,000
Heavy Highway/Street & Road Contractor
Contractors Pollution, Professional and Protective
$63,000
Commercial Solar panel Installation
Contractors Pollution, Professional and Protective
$32,000
Construction of New Condo Tower
Project Owners Protective Professional Indemnity
$475,000
HVAC Contractor
Contractor's Professional, Protective and Pollution Liability Project Policy
$65,000
Demolition Construction Contractor
Contractors Professional and Pollution Liability
$30,000
Energy General Contractor
Contractor's Professional and Protective Liability
$600,000
Energy General Contractor
Contractor's Pollution Liability
$200,000
 
Real Estate
Recycler
General Liability/Contractor's Pollution Liability/Professional Liability/Pollution Legal Liability and Excess
$475,000
Linen Service
Pollution Legal Liability plus Products Pollution
$50,000
Chemical Distributor - Industrial Cleaning Chemicals
General Liability/Pollution Legal Liability and Excess
$250,000
Bulk Petroleum Storage and Distribution
Pollution Legal Liability
$225,000
Commercial and Habitational Real Estate Portfolio
Pollution Legal Liability
$130,000
Commercial Redevelopment
Pollution Legal Liability
$227,000
New Day Logo
2465 Kuser Road
Give us a call today!
Suite 202
Hamilton, NJ 08690
609.298.3516
info@newdayunderwriting.com