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... with an insurance professional and answer these vital questions: 1. Are my coverage limits and deductibles appropriate? 2. What times of disasters (perils) am I covered against, and what perils are specifically excluded? 3. Does my insurance provide adequate protection to senior management against litigation resulting from insufficient business continuity planning? 4. Does my coverage factor in inflation, improvements, and building code changes? 5. Is my coverage for replacement cost' or actual value' (cost less depreciation)? 6. Does my ... not practical or possible to avoid or transfer a risk, the risk is accepted. Because it is not practical or even possible to protect every aspect of the business, insurance is an important part of the Business Continuation Plan. In addition to insuring your executives, carefully review your Business insurance policy with an insurance professional and answer these vital questions: 1. Are my coverage limits and deductibles appropriate? 2. What times of disasters (perils) am I covered against, and what perils are specifically excluded? 3. Does ... covered for loss of power or other critical services? 10. Am I covered for the loss of critical suppliers or buyers? 11. Am I covered for a denial of access order issued by civil authorities? 12. Does my insurance cover losses caused by disrupted transportation services? 13. If a disaster declaration' is made by the Disaster Management Team, does my insurance cover the costs charged by my alternate-site vendor? Does it cover all the extra personnel and other costs associated with activating and operating the alternate site? 14 ...

...ce provide adequate protection to senior management against litigation resulti...miums go down? If disaster strikes, careful consideration of the risks your ...

...ce provide adequate protection to senior management against litigation resulti...cover losses caused by disrupted transportation services? 13. If a 'disaster d...

... renewals. This has two obvious benefits: It establishes consistency and continuity with all renewal activity. (Plaintiff E&O attorneys always try to find inconsistency and damage your credibility.) It provides an excellent training tool for less experienced staff and a quick method for senior staff people to review the work output of those under them. These advantages save time and permit you to have your most technically competent people use their time and experience in the best way. Another area that should be discussed with respect to renewals is restrictive endorsements ... the carrier. Moving back and forth between "claims made" and "occurrence" policies can also be a problem, especially with Surplus Lines carriers, because provisions might vary between the two. Also, because many Surplus Lines carriers don't use standard forms, a careful review of the contract is important. When the policy is on an audit basis it's important to inform the insured of a possible difference in the rating basis between the standard and the Surplus Lines carrier. Because the Surplus Lines carrier usually won't permit a "turnback ... enhanced BOP programs to what's basically an ISO BOP, there are some significant differences in how coverage, if any, is provided. The same holds true when you move from a BOP to a CPP or vice versa. The ways in which signs, glass, transportation, off-premises coverage, etc. is provided are significant and need to be contrasted. If you move the account to another market, complete a revised coverage summary to go with the policy. Stress that this only a summary — and that the policy should be ...

...nced staff and a quick method for senior staff people to review the work outpu...you'll try to get the carrier to take care of an uninsured loss. Don't argue w...