Optimizing PLI For Design Professionals

PLI stands for professional liability insurance. Professional liability insurance for engineers, architects and surveyors is often referred to as PLI for designers. PLI premiums are determined through a process involving the assessment of several factors over which designers (professional service type businesses) have some control. For example, design professionals can improve premiums by exploring the factors insurance carriers use in their quotation creation process for professional liability clients. Consequently the application process should be optimized for achieving the best possible outcome for the design firm or independent professional.

Design companies must make their business attractive to insurance carriers to obtain the best possible terms and pricing. The first step in this strategy is to identify the different risk factors and then present your design firm in the most positive way. While numerous factors determine the risk that a design firm poses to an insurance company, for the purpose of this discussion we will focus on the most critical areas. They include:

1. The location of the firm
2. The locations of design firm projects
3. Project types (traditional commercial projects such as offices, warehouse and retail are often more attractive to carriers than swimming pools and amusement parks).
4. Loss History

Project with high perceived risks are much less attractive to insurance carriers than projects with a nominal risk profile. Projects with emotional attachments or those which have a high loss exposure can be detrimental to design firm PLI. Though working within the genres is necessary, it is prudent to understand the exposures and manage the risk as much as possible.

Loss history is reviewed closely by insurance carriers. Design projects can results in significant claims. There also is the perception and statistical likelihood that past claims are a fair indicator of potential future claims activity. As a result, a design firm with some significant claims in their past generally pays a much higher rate than a similar firm with nominal past claims. Carriers can look as far back as ten years back when evaluating a larger firm's loss history.

If a firm has a history of claims it still possible to cast the exposure in a more positive light utilizing the appropriate approach and documentation. When carriers review the loss history of a design firm, the approach and documentation that the design firm utilizes will prove critical in the resulting PLI premiums. Ultimately, design firms along with their PLI broker must negotiate with insurance carriers to favorably characterize their firm and provide the mitigating information necessary to encourage the most competitive premium quotes.

Advantage Of Preserving Natural Product – The Gold

Natural products are present on earth in a very limited quantity and metals like silver, gold or platinum are some among them. The immense beauty of gold and its value has increased its demand. Due to all these factors gold has become a good option to invest and earn extra money. There are different ways available to invest in gold. You can make choice according to your need and demand. Gold and other metals are available in variant forms like gold coin, gold jewelry and gold bars. In NYC there are watch selling stores from where you can buy these precious items. Investing your money in any of these forms promise good return, also this is a well-known method to get cash for gold.

Investment choice in gold and security measures:

Various types of gold are available in market. Some of them are white gold, pink or red gold, metal alloys. You can invest your money according to your pocket earnings. Gold is measured in terms of karat and the best form of gold is considered as 24 karat. 22k, 18k, 14k, 10k gold is also available in market that has mixture of other elements. There are many ways to spend your money in gold; some of them are mutual funds, sensex, gold coins, gold scrap, gold accessories. Buying 24 karat gold from banks with different schemes are also in trend that ensures the highest purity of gold. From all these methods you can get good cash for gold.

But before buying or selling silver, gold, platinum or other metals it is important to know some best way and methods to get maximum benefits. Many pawn brokers are their in shops, it is important to know about the best one so that no pawn brokers get a chance to cheat. You should buy or sell from a registered shops that have a valid license. You must ensure that the price rate defined by the pawn broker and the current market rate should match because many shopkeepers try to take advantage of these things. Rate of gold is dependable on gold weight and on its colour and karat value. Like other products gold have hallmark that shows the originality of product. Certificate for the gold or metal purchased are also given by the shopkeeper for future record.

Preservation of these metals:

Preserving these natural products is an important issue. In New York, Canada and in London there are number of actives agencies that work for silver recycling and gold refining. It enhances the quality of gold and gives a better option to mold these metals in new design that increase the market value automatically. Today people has become more trendy and choosy. They do not prefer that heavy and old fashioned jewelries as they hardly seek attention and so they prefer to invest through gold and buy other equivalent metals like platinum, gold plated silver and others. This reason has made this valuable metal quite popular and a better option to get some cash for gold.

Video Email Applications for Insurance Professionals

Insurance professionals, like many others in direct sales, rely on strong relationships to not only maintain, but build their client base. The best way to keep relationships strong is with regular communication, but relying on expensive mailings or lengthy phone conversations is neither cost nor time effective. Video email on the other hand, offers a time-saving and economical way to personally reach clients and prospects. Below are applications insurance professionals can employ in prospecting and customer retention strategies. The focus is not on 'hard' selling, but on educating, demonstrating and personally connecting with consumers through a variety of messages that build trust and familiarity.

Create video emails for the following applications:

1. Highlight policy types offered (life, home, car, health, motorcycle, RV, etc.)

2. Respond to internet inquiries with a video introduction

3. Give price quotes, (attach document if required) compare prices with competitors

4. Explain how to file a claim- demystify the process for wary consumers

5. Give safety tips- For the home: smoke detectors, security systems, fire extinguishers, stair safety (gates and railings), preventing falls, CPR and First Aid training, etc. For vehicles: seat belts, drinking and driving, cell phones and driving, system checks (brakes, tire pressure, lights, fluid levels), following speed limits, watch for pedestrians (especially children), etc.

6. Remind clients of annual coverage review

7. Life changes and how they can effect coverage needs- marriage, births, new job, college, major purchases, retirement and death in family all present reasons to update insurance coverage

8. FAQs on subjects such as: Rates & Payments, Choosing an Agent, Understanding Coverages and Changing a Policy

9. Explain coverage terms- Take the confusion out of insurance terms with clear explanations that help consumers make better coverage choices

10. Special rate offers- Spread the word on discounts and rate reductions

11. Tax savings- An added benefit of saving for retirement

12. Testimonials- Nothing better than customers raving about service and price

13. Event notification and/or invitation

14. Career achievements, community efforts- Mention degrees, certifications and licenses related to the insurance business that underscore experience. Highlight community involvement, affiliations and charitable projects.

15. Non-policy products and services offered: Investments such as Mutual Funds, Brokerage Accounts, IRA Accounts

16. News releases- Discuss breaking news, trends, company press releases, industry challenges, green efforts, etc.

17. Retirement preparedness- Give top 10 ways to save for retirement, include links to calculators and attach a brochure with additional information

19. Updates on insurance legislation- What local, state and national insurance reforms are on lawmakers dockets?

20. Holiday and special occasion touches- Reach out to clients throughout the year to show them they're appreciated!

Each video email application leads to ideas for more uses! By taking the initiative, insurance professionals can transform the way they communicate!