All, Please remember to NOT put us on HOLD. Because we will hear your jazzy hold music. And however lovely it may be, it can be distracting to our speaker as well as our members. If you currently have us on hold, please hang up or otherwise take us off hold. Thank you, Michael Michael Meyer On Mon, Jul 16, 2018 at 7:50 AM, Michael Meyer <mgmeyer83@gmail.com> wrote: > > All, > > Please find attached some additional materials for today's presentation by > Mr. Goodfellow. Also, please note that we will be holding questions until > the end of the hour today, time permitting. But if we do not have > sufficient time at the end of the presentation, then Mr. Goodfellow has > agreed to take and respond to questions via email to the group. > > Looking forward to talking to you all again soon. Thank you. > > Best regards, > > Michael > > Michael G. Meyer, Esq. > Co-Chair Insurance & Surety Committee, RPPTL Section, The Florida Bar > (813) 924-2983 > > > ---------- Forwarded message ---------- > From: Michael Meyer <mgmeyer83@gmail.com> > Date: Fri, Jul 13, 2018 at 4:00 PM > Subject: [Liability Insurance] Florida Bar RPPTL Insurance & Surety > Committee Conference Call - Monday, July 16, 2018, beginning at Noon > To: "liability_insurance@lists.flabarrpptl.org" < > liability_insurance@lists.flabarrpptl.org> > > > Folks, > > > > This is a reminder for our monthly Insurance and Surety Committee call, > scheduled for *Monday, July 16, 2018 - beginning at Noon*. Our speaker > for Monday’s CLE will be *Steve Goodfellow*, *Ph.D., CPCU, Partner, VP > National Accounts, for Insurance Office of America (IOA). *As you will > recall, he presented to our Committee at our live, in-person meeting in > Naples last December, and he has graciously agreed to present to us again > this month and complete Part 2 of his presentation on "Devastating Claims > – The Most Dangerous and Common Insurance Coverage Mistakes." Please find > below Mr. Goodfellow's summaries and takeaways for each of the topics in > his presentation. For everyone's reference, we left off in December at > topic number 5, " Preparation (H)urricane," which is where Mr. Goodfellow > will begin his presentation on Monday - just in time for hurricane season! > > > > Attached are the following: (1) Agenda for Monday’s call; (2) Meeting > Minutes from our last regularly-scheduled meeting on June 18, 2018; (3) Mr. > Goodfellow's PowerPoint presentation and Bio; and (3) the most recent > edition of our committee’s newsletter, *Insurance Matters!* > > > > *Meeting Information*: > > *Dial-in Information:** Dial-in: 888-376-5050* > > *Pin: 7854216320#* > > *Moderator: 36802# (Moderator Does Not Use Pin Code)* > > > > Please be sure to *call in early* to eliminate “beeps” during the > committee reports. Also, remember to *mute your lines* to avoid > unnecessary background noise during the reports and CLE presentation, but *please > do not put the call “on hold”*. > > > > *Attendance: *Click here to Record Your Attendance > <https://docs.google.com/forms/d/e/1FAIpQLSdtNn-5TBGuWTAiB8V3s62ID6FA9GyxPtPjuk8TVZP7cgaOlg/viewform> > > Click here to See Other Attendees > <https://docs.google.com/spreadsheets/d/1nj8NqxAKjdfh3tmWcLF-9xdob0Cv-w5-5xR2kJ5EQeU/edit#gid=1588124515> > > > > We look forward to the call. > > > 1.) Sexual Harassment: Purchase Employment Practices Liability > including Third Party Discrimination and Sexual Harassment!. Actually, > the better buy is Directors and Officers Liability including this coverage, > even for smaller, privately held companies; > > > > 2.) Family Ties: Reinforcing the need for Private Directors and > Officers as indicated above; > > > > 3.) The 39 Year Old Claim: This case emphasized the need to seek > coverage even if the policy is long expired. However, once again, Private > Directors and Officers coverage may have responded if coverage was not > perfected. Also, environmental impairment liability would respond if > purchased prior to the sale of the property;; > > > > 4.) Company Owned Autos: Very common problem when owners choose to > have their company buy the insurance n the family autos. Must add Broad > Form Drive Other Car Coverage and name every single family member of > driving age by name and insure for liability and physical damage. > > > > *5.) Preparation (H)urricane: We didn’t get to this one, but the point > of the discussion is to prioritize the wind and hail coverage purchasing > decisions when Named Storms are an issue, such as in Florida;* > > > > *6.) Unemployed Employees: Many companies today using payroll services > (there are many) such as ADT that provide not only payroll services, but > act as a Preferred Employer Organization (PEO). By contract, every > employee of the client becomes an employee of the PEO for the purposes of > buying worker’s comp and benefits. In this situation, the client MUST by > an “if any” worker’s comp policy in its own name to cover those uninsured > persons and events such as the case described.* > > > > *7.) Privacy Breach: explains all of the coverages that are easily > packaged to protect your clients against hackers and cyber extortionists;* > > > > *8.) SCO hires LMC (Shopping Center Owner hires Larry, Moe and Curly): > We didn’t get to this one, but the moral of the story is that the best > coverage available for the owner/developer is a Construction Wrap, but if > too small, then require the contractor to provide Owner’s and Contractors > Protective coverage.* > > > > *9.) Miscellaneous Topics; These are three topics that I feel would be > of vital interest to your committee, two of which would be very intriguing > to the trusts and estates committee:* > > > *a. Terrorism: TRIA, the government program, has not paid 1 cent > since its origin following 9/11/2001. It’s a terrible buy. Rather, buy > coverage that includes domestic terrorism with an easily defined trigger. > A few programs, one of which is exceptional. About the same price as TRIA;* > > > *b. Lifestyle Investment: IOA recently bought a company that has > designed an extraordinary program for helping High Net Worth > individuals create wealth and retirement income through leverage and reduce > the cost of insurance. Our Chairman used this service and was so impressed > that we bought the company. The 3rd example shows how it works and still > provides a 19.43% internal rate of return. This example assumes the > insured is age 50 and dies at 89 after taking $1,100,000 annual income from > age 66 to death. Premium was only $90,000 per year for 15 years plus > significant borrowing. The policy itself pays off all loans and interest > at the end of the 15th year; and* > > > *c. Retirement Through Insurance Waivers; IOA presents a captive > program for apartment Owners. By attaching a page to the lease, the Owner > permits tenants to waive the requirement to provide $100,000 liability > insurance for $11 per month. $7.00 per month goes into the owners > mini-captive tax free, which can be owned personally. Example is 5,000 > units, 85% participate (typical) producing $6,000,000 plus investment > income for Owner after 20 years.* > > > > Best regards, > > Michael > > > Michael G. Meyer > > Co-Chair Insurance & Surety Committee, RPPTL Section, The Florida Bar > > Sr. Project Manager/Legal Counsel > > *AECOM *Hunt > > 1201 South Grand Ave. > > Los Angeles, CA 90015 > > Office: (512) 417-5914 > > Cell: (813) 924-2983 > > > > *Confidential: This e-mail contains a communication protected by the > attorney-client privilege or constitutes work product. If you do not > expect such a communication please delete this message without reading it > or any attachment and then notify the sender of this inadvertent delivery.* > > > > > > >