– Advertising
Advertising Exposure
In the world of media and advertising, information is gathered and transmitted at a high pace, in large quantities, and with inherent risks.
Solution:
We recommend a purchasing media & advertising coverage for exposures such as defamation and errors and omissions that can be caused by advertisement.
– Employment Practices
Risk of Quarter-End Parties
We commend PYB for commending their employees’ performances with having a company party every quarter. However, these parties have liquor liability because employees are allowed to bring alcohol. Our knowledge shows that there is no current coverage for the exposure of alcohol related incidents and these types of events on company property.
Solution:
Our solution is continuing to celebrate company quarterly success with these parties. However, we recommend PYB outsource this part to another venue. We also recommend hiring a catering and alcohol/beverage service to outsource the risks of liquor liability. Therefore we take the risks of exposure of these acts on company property.
Sexual Misconduct/Harassment Risk
There have been multiple complaints from female employees to senior management about inappropriate remarks and engagements …show more content…
PYB needs to determine if making all company decisions are being made in headquarters or does each have the option of making their own decisions? With that being said, are there enough qualified personnel in every branch to make informed risk management and insurance decisions? Our solution consists of all insurance decisions be made collectively by all higher-level executives. One agent/consultant group should be hired to save fees and with correct hire, that agent/consultant will have enough resources to provide all adequate insurance coverage. Consolidation created one premium payment, one broker that knows the company inside and out, and one tailored program that protects the entire
Advertising Exposure
In the world of media and advertising, information is gathered and transmitted at a high pace, in large quantities, and with inherent risks.
Solution:
We recommend a purchasing media & advertising coverage for exposures such as defamation and errors and omissions that can be caused by advertisement.
– Employment Practices
Risk of Quarter-End Parties
We commend PYB for commending their employees’ performances with having a company party every quarter. However, these parties have liquor liability because employees are allowed to bring alcohol. Our knowledge shows that there is no current coverage for the exposure of alcohol related incidents and these types of events on company property.
Solution:
Our solution is continuing to celebrate company quarterly success with these parties. However, we recommend PYB outsource this part to another venue. We also recommend hiring a catering and alcohol/beverage service to outsource the risks of liquor liability. Therefore we take the risks of exposure of these acts on company property.
Sexual Misconduct/Harassment Risk
There have been multiple complaints from female employees to senior management about inappropriate remarks and engagements …show more content…
PYB needs to determine if making all company decisions are being made in headquarters or does each have the option of making their own decisions? With that being said, are there enough qualified personnel in every branch to make informed risk management and insurance decisions? Our solution consists of all insurance decisions be made collectively by all higher-level executives. One agent/consultant group should be hired to save fees and with correct hire, that agent/consultant will have enough resources to provide all adequate insurance coverage. Consolidation created one premium payment, one broker that knows the company inside and out, and one tailored program that protects the entire