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RIG Transportation-Brady Hoiness

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by

Ryan Bramlette

on 1 June 2015

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Transcript of RIG Transportation-Brady 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 Engery24

Rig Transportation 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
Available via App so proof of insurance can be accessed at job site or location
Introduction of both Natural Resources Service Specialists. Access to all 8 Service Specialists within Team
Risk Reduction Plan
Risk Advisor Team
Employee Retention/
Skilled Employees
Customer Service
Risk Transfer
Coverage Gaps/Risk Managment
Uninsured/Underinsured Motorists coverage on all Trailers. Why??
Brady Hoiness, AINS/VP Natural Resource Division
Debbie Wagner, CPCU, CIC/ Vice President
Rhonda Schultz/ Account Specialist
Haleigh Crnkovich/ Account Specialist
Brendan Riley/ Loss Control- DOT Specialist
Mindy Carver/ JD, CPA, CPCU, CIC/ General Counsel
Jeff Wallace/ Claims Director
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
Fire Legal Limit is at $100,000
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)
No Boom Collapse or Overload Coverage
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 Rig Transportation?
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
$938,000

$14,000
Market Changes
Fire Legal Liability
$600,000
$9,000
Reputation Management
$215,000
$100,000
Umbrella Policy does not go over Stop Gap
Uninsured Motorists
on Trailers
Pollution
Full transcript