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Estvold Oilfield Services, Inc-B Hoiness

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by

Ryan Bramlette

on 14 January 2015

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Transcript of Estvold Oilfield Services, Inc-B Hoiness

Risk Management Plan
Design
Implement
Once the Plan has been designed and accepted, the aspects of the plan are implemented
Continue
Is the Program Effective?
Are we making a Impact?
What Emerging Risks do we need to plan for?
Our Goal is to Identify & Prioritize Risks that have Financial Impact on your Business
Identify
Risk Assessments
Coverage Audits
Contract Review
Policies & Procedures
A Service Calendar of Events for the following 12 months is prepared and will serve as the focal point for the implementation process.
It will outline what will be done, when they will be done, and who will be involved.
We hold ourselves accountable with Service Agreements and Stewardship Reports.
Employee Turnover
Down Time
Compliance
Contract Review
Down Time
Compliance
Employee Turnover
Contract Review
Implementation of CSR24

Estvold internal link to add certificate holders and Print certificates internally
Analyze/Structure Sub Contract Agreement
Certificate Tracking
DOT Compliance
OSHA Compliance
ISNet/PEC Compliance
Contract Review
Contractual Risk Transfer
Property Leases
Equipment Leases
Avalible via App so proof of insurance can be accessed at jobsite or location
Introduction of both Natural Resources Service Specialists. Access to all 8 Service Specialists within Team
Risk Reduction Plan
Risk Advisor Team
EmployeeRetention/
Skilled Employees
Customer Service
Risk Transfer
Coverage Gaps/Risk Managment
Additional Insured Status only provides "Ongoing Operations" (per Leavitt Proposal)
Brady Hoiness, AINS/VP Natural Resource Division
Chris Hoiness, CPCU, CIC/ Senior Vice President
Devan Hoiness/ Natural Resource Divsion
Haleigh Crnkovich/ Account Specialist
Amy Simpson, CIC/Account Specialist
Brendan Riley/ Loss Control
Mindy Carver/ JD, CPA, CPCU, CIC/ General Counsel
Jeff Wallace/ Claims Director
Ryan Elliott/ Surety
Teri Palmer/ Wellness Coordinator
Mike Day/ Employee Retention-Perpetuation

The Construction Industry anticipates a shortage of 2,000,000
skilled
workers by 2017
Lost Employee National Average is
$8,200 per employee.
Current Pollution policy is on for Sudden & Accidental---No Slow Leak
No Mention of Cargo Pollution Coverage in Proposal
Carrying $1,000/$5,000 deductibles on Property & Inland Marine(Estvold has
not
had a paid loss in 4 years per our received loss reports).
Marketplace Advocates
Business Risk
Strategic Risk
Hazard Risk
Prevent
Mitigate
Transfer
Finance
Assume
Risk
Tolerance
Business
Strategies
A Properly Designed Risk Management Plan Balances the Total Cost of the Action with Owners Tolerance for Risk and Overall Business Strategies
(Not all Businesses Qualify based on Cash Flow)
Professional Services Exclusion (Pipe Inspection)
Property/ Inland Marine
General Liability/ Umbrella/ Auto
Current Insurance Carrier
No Coverage
Could Cost Estvold Large $$
"Out of Pocket"!
Insurance Policies
Insurance
Policies
Value-Added Services
Risk Management
Traditional Insurance Solution
PayneWest
Risk Solutions
The traditional model ignores those
uninsurable risks
PayneWest model tackles head on to improve your bottom line.
Employee Turnover/Retention
Reputation Management
Perpetuation
Contract Review
Loss of Key Contract
Claims Advocacy
Loss Control
E-Mod Analysis
Certificate Tracking
Best Carrier
Best Agent
Best Plan
?
What does it cost Estvold?
Loss of Key Customer
Market Clout
+
Reduction of Uninsurable Risks
=

Large Impact
Traditional Insurance Cost Savings
Yearly Cost Savings in Marketing Insurance
$23,000
$17,000
$12,000
PayneWest Cost Savings
Total Potential Cost Savings
$1,116,200

$14,000
Market Changes
Additional Insured
"Completed Operations"
$778,000
Cargo Pollution
$9,200
Pollution
Reputation Management
$215,000
$100,000
Full transcript