Archive for the ‘Compliance Issues’ Category

Is YOUR Business selling to RETAIL?

April 24, 2017

It wasn’t that many years ago when a manufacturer didn’t really worry about Accounts Receivable (A/R’s) if one sold or supplied to a BIG NAME firm, e.g. General Motors (GM), Chrysler, Delphi, Kodak, Blockbuster, Schwinn Bicycle, Marvel Entertainment, Hugo Boss, Reader’s Digest, Trump Hotels, Sears, Radio Shack, etc., because they always paid you and you really didn’t worry the same as the neighborhood “Mom & Pop” operation, right? Even if you gave 30 or 60 day terms and didn’t get paid for 90 days, it just meant you waited but why would you really need worry.

Unfortunately, today’s world has changed substantially and auto makers like GM had to restructure with governments bailing them out, Radio Shack went under and Sears recently said there was “substantial doubt” as to their long-term operating ability. WOW! Many of the names listed above have all had to restructure and that meant unsecured vendors were not very happy.

So how do YOU manage your business to ensure that you will be paid and remain afloat? I have met so many companies, through the years, that would often have 80% of their sales from a small number of customers and I would always recommend prudent Risk Management – “don’t put all your eggs in 1 basket” – and suggest they consider diversifying their markets and considering options for transfer of their risk, e.g. trade credit insurance. Some clients neglected to follow any or much of my advice and I do know of several who are no longer in business.

Trade credit insurance is often used by firms in Europe but not so often in North America. Why? Europeans may have been less reliant on one’s reputation, perhaps, but my own banking background tells me that North American banks don’t suggest the option, don’t know enough about it and don’t vary credit terms adequately to encourage YOU obtain this. I also hear that terms are much more favorable in European banks for those companies who do purchase the option so many of you don’t feel the savings warrant the added expense.

Where I do find many Canadian (can’t say the same is more or less frequent in the US) companies using Trade Credit Insurance is in their Export Financing but why only for those types of deals? Perhaps you Factor your A/R’s but I just read “Wells Fargo & Co. is among the firms no longer providing Sears vendors with factoring — short-term financing that helps gives them a cushion.” Imagine then what I seem to hear more often than not – insurance works when you really don’t need it but often doesn’t respond when you truly have the need. Do you feel that way or have you heard this said?

This is why I continue to preach Risk Management and supplementing with a suitable Risk Transfer mechanism (insurance should not be solely price-driven when purchasing but knowing what is and is NOT covered and buying the policy from a reputable agency/brokerage with adequate Errors & Omissions insurance of their own and a suitably rated (I tend to like AM Best A-ratings or better) underwriter for your General Liability, Trade Credit, Cyber, Crime, Specialty and Directors’ & Officers’ Liability policies.

I do hope you realize that insurance buying may be 1 of the most important business decisions you make each year but I do know that you overlook this importance because of the trust you place in your providers and the lack of understanding of what is really behind an insurance contract.

 

Let’s discuss today! I can be reached on Twitter (@WRiskManager), on LinkedIn or Facebook and by e-mail – larryewinsurance@gmail.com

 

Info derived from http://www.msn.com/en-ca/money/companies/sears-payless-woes-push-retail-vendors-to-get-more-militant/ar-BBAcFIC?li=AA54rW&ocid=spartanntp and other online material.

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OCCUPATIONAL HEALTH & SAFETY (OHS) – FINES, SURCHARGES, EXPENSES AND CONVICTIONS – WHAT DOES THIS HAVE TO DO WITH INSURANCE?

August 15, 2014

Through the years in which I have been working in the insurance business as a broker, it became apparent to me that most clients will simply view his/her broker as a salesman, not as the professionals we all strive to be. That was why I focused my career in the consulting field of Risk Management. I realized that insurance won’t always do what I felt it did, previously, for clients and what we all would say it was designed for, ensuring the client is placed back in the same position following a loss as that client was prior to the event.

Some insurance companies have gone on to do surveys and express results that show only 50%, for example, of any business losses are ever covered by insurance! YES, only ½ of your losses can and will be reimbursed by the purchase of an insurance policy.

So what does this mean YOU should then do? Well, finding a professional and reputable insurance brokerage who understands Risk Management can be a wonderful step; but I know many businesses will still feel they are dealing with a “salesman”, someone who derives financial reward from the selling of an insurance policy to YOU! This may be quite accurate, in a large number of situations. I will gladly consult with businesses within my “licensed” territory (ONTARIO, CANADA) on a “fee” basis (but even then I will – if you read further – offer something SPECIAL to YOU) but also perform further reviews outside my territory for those who understand my expertise may be limited by some restrictions of knowledge (e.g. Workers Compensation laws in the various US states) that would need to be supplemented by other experts.

As a former retail commercial banker in both Canada and the USA and a licensed Life/Accident & Sickness insurance agent (“we” in the industry prefer the term broker since it represents multiple insurance company representation) and Property/Casualty broker in both Canada and US, I have been working for my clients, in a manner different than usual, for 10+ years. In reviewing leases, contracts, loan agreements and other legal documentation – supplemented by financial statements to ensure the client knows what all their major risks of conducting business are – I can identify and advise whether it is suitable to “retain” or “transfer” various identified business risks to others. The definition of retention includes assuming all risks by self-insuring all or a portion through deductibles, under-insuring, etc. Most businesses are not aware of the many risks they face nor whether it is even possible or if they have insurance to rectify a loss when it occurs. Transferring one’s risk may be through the purchase of an insurance contract that transfers the risk of loss to an insurance company, pool, captive or obtaining a Hold-Harmless Agreement, etc.

In my own region, for example, I will highlight some possible circumstances that might relate to your own business and real risks you know about and, without pointing fingers, tell you why you might want to talk with me. After reading this statement, if you don’t contemplate contacting me then do discuss with your insurance professionals and get a second opinion because many, in my field, are NOT aware of the availability of insurance for these expenses – (TORONTO (Canadian OH&S News) Penalties for workplace safety violations in Ontario are harsher than any other province in the country, threatening employers and supervisors alike with thousands of dollars in penalties at the least, and jail time for the most egregious of errors.).

I know many of us are familiar with Bill C-45 – http://www.ccohs.ca/oshanswers/legisl/billc45.html – but if, for some reason (possibly you are not a Canadian and immigrated here) then you should be. Penalties for violation can result in substantial fines and/or jail terms. Insurance will never suffice if a jail term is meted out by the judicial system but the legal defence costs, while you are assumed innocent until proven guilty, need to be paid and here is where some form of insurance may meet your need.

Canada: Canadian Employers Hit With Record Setting Occupational Health and Safety Fines – is $750,000 excessive or fair for a family-run corporation? http://www.mondaq.com/canada/x/269016/employment+litigation+tribunals/Canadian+Employers+Hit+With+Record+Setting+Occupational+Health+and+Safety+Fines+The+HR+Space

BOLTON, Ontario—A 67 year old contractor lost his life while making repairs to a reach truck. http://www.mmdonline.com/safety-and-security/contractor-dies-repairing-reach-truck-77870/

TORONTO, ON – Symtech Innovations Ltd., a construction business in the commercial and industrial sectors, has been fined $90,000 after a worker died following a fall through a skylight. http://news.ontario.ca/mol/en/2014/08/symtech-innovations-ltd-fined-90000-after-worker-dies.html

WOODSTOCK, ON – Erie Greenhouse Structures Inc., a company that produces and installs greenhouses and related equipment in Tillsonburg, has been fined $73,000 after a worker lost part of a finger in machinery. http://news.ontario.ca/mol/en/2014/08/erie-greenhouse-structures-inc-fined-73000-after-worker-injured.html

BRAMPTON, ON – Action Trailer Sales Inc., a company that sells, leases, maintains and repairs all types of semi-trailers, has been fined $50,000 after a worker was injured while changing equipment on a trailer. http://news.ontario.ca/mol/en/2014/05/action-trailer-sales-inc-fined-50000-after-worker-injured.html

BRAMPTON, ON – General Kinetics Engineering Corporation, a manufacturer of vehicle suspension systems, has been fined $50,000 after a worker fell from a ladder. http://news.ontario.ca/mol/en/2014/06/general-kinetics-engineering-corporation-fined-50000-after-worker-injured.html

Now what is the “something SPECIAL to YOU” that I offer? As a consultant, I would normally charge a fee for service but anyone – within Ontario, CANADA – who contacts me and mentions this Blog will be entitled to 1 hour of FREE analysis and feedback, without any further obligation. I can be reached by e-mail – larryewinsurance@gmail.com and I might call this my “end of summer” special but the sale won’t be limited to a timeframe if YOU mention to me at any other time since I am hoping that my Blog is the reason and wish to promote blogging as an effective tool in my business promotional efforts. If you don’t live/operate from Ontario, CANADA and still wish to discuss, I am very happy to see if there might be an opportunity to assist you – again at no cost, but it may NOT be 1 hour FREE but a shorter time.

Is a Second Opinion Worthwhile?

November 18, 2010

It is possible that, with age/maturity, I have learned a few things in my life but I’m slowly losing my tolerance for others’ stupidity or lack of knowledge when they should (because they’re professionals) know better. Why do I feel this way? To begin, I enjoy learning – profusely learning – through reading, whether it be online, books, periodicals, etc. and attending seminars, speeches, etc. I hope you do too because learning should never stop, especially for professionals – experts in their fields of practice.

Last week, I had the pleasure of identifying several weaknesses in our own firm’s marketing by listening to Faith Seekings, an online connection of mine on Facebook, LinkedIn, etc., while attending the AGM for the Canadian Institute of Management’s Toronto Chapter. I will be the last to admit that our firm is not without fault but we are always searching for ways to improve.

Last night, I attended a joint dinner meeting of the CIM/CMA/CGA Grand Valley in Kitchener and listened to Eugene Roman, in charge of New Product Development for Open Text, one of the numerous success stories of “Canada’s Technology Triangle”. Eugene spoke on issues that directly impact my own industry and attract my attention – risk, compliance, records retention, etc.

So how does this relate to my lack of tolerance then? For anyone who doesn’t know me, I have worked in the “insurance field” for 20+ years, including Risk Management, following a lengthy banking career in both Canada and the USA. I have seen much and I am constantly “shaking my head” at others’ lack of understanding of our business but this week…it was the “icing on the cake”.

For years, I have been in the minority when suggesting that if an insurance broker does not understand the business you, the client, operate, either learn it very fast or suggest that you deal with someone who has the level of expertise required to adequately protect you and to offer you advice.

Now…the rest of the story, as one of my favourite radio phrases goes…A residential builder that I have known for several years and pursued for most of that time has provided me with copies of the firm’s insurance policies – a shambles due to anyone’s lack of insurance understanding (so I am not blaming or placing fault on him) and having many different policies all due at different calendar dates. I know the insurance brokerage well and this client is one of that firm’s largest clients – and surprisingly, does not receive anything special in the area of service (possibly because the brokerage is afraid of the builder learning how inept their firm is).

One project that is currently under construction has 2 phases – with a total “insured value” of $500,000. The problem only begins when I questioned the builder as to his cost and am told the 1 townhouse structure is $800,000. The worst part of the problem is that the 1 building is nearing completion and won’t finish for another 4-5 weeks while the other building is framed and roofed and ready for the exterior to commence.

If a fire occurs and demolishes both structures (likely to happen with high winds and very frequent in the insurance industry), he is required to insure to 100% of his final cost and is penalized for every dollar of loss, except that he only has $500,000 TOTAL when he may lose $1,000,000+.

Will he be bankrupt, at that point, due to the insurance professional’s lack of business acumen? I hate to imagine anyone ever losing their business because they relied on professionals who were less than that. What might my recommendation be? For anyone without a sufficient understanding of risk management and insurance, never rely on anyone for too long without obtaining a second opinion – it might be the difference between success and failure for your company.

Contractual Liability and/or Compliance?

June 18, 2010

Attention!  Accountants, Lawyers, Lenders, Business Executives, Managers and Owners!

Having spent 2+ years reviewing $1.5+B in Commercial Loans provides one with an insight into the insurance industry that even an insurance professional would never normally experience.

What do I mean?  Well, with nearly 20 years in Retail Commercial Banking in both Canada and the USA, I knew that banks do not fully (and never will) comprehend the Commercial Property/Casualty Insurance business.  Yes, I did have some insight into the wonderful world of insurance, having grown up at the dinner table with a father and older brother discussing the intricacies of their day’s activities – Lucky Me!

So that just made it easier to enter the field when I decided that I needed a change and I now have spent 20+ years in this sector of Financial Services.

Following 9/11, I wanted to become more attuned to Risk Management and obtained my Canadian Risk Manager designation (well, I was a Registered Insurance Broker and had previously obtained my American Institute of Banking Commercial Lending Diploma, so why not?) in order to better understand risk as opposed to insurance.

Well, I thought I had seen a lot until the past 2 years of working on Loan Reviews – and this was a real eye-opener!  Borrowers agree to terms in their Loans whereby they don’t ever ask their insurance providers about the terms/conditions regarding insurance and costs, prior to signing (yes, they may confer with their Lawyers but, unless their Lawyer works with qualified insurance people, they cannot adequately advise on the subject of insurance, either).  Lenders neglect to confer with Risk Consultants prior to formulating their own desired requirements and Lawyers do not fully understand what is available and what will never be available in the insurance industry.

An example, I saw, is a Lender who decided to offer facilities to a Client on a number of properties  with a $5Million Liability minimum requirement.  The Insurance Broker offered $5Million on a blanket basis for 37 properties in the Aggregate – something that would, in many cases, be grossly inadequate!  The Lender did not have the ability to amend their Agreement, except within a condition they preferred not to apply to the Borrower – something that I encouraged be done.  I also know of several insurance “professionals” who would never have sold only a $5Million Liability policy in the Aggregate without Umbrella/Excess coverage being applied but the firm insuring these risks did not do so.

What a problem, right?  Well, how about insurance providers who only wish to make a sale and never request copies of leases, contracts, franchise and loan agreements, etc. but also provide ridiculously low deductibles for extremely high property values and then complain that their clients will not pay the added insurance premiums!  I saw this time and time again.

Imagine being able to purchase insurance or consulting service from a professional who was able to reduce your insurance costs and provide better coverage – is this possible?  Many times, the answer is a simple YES!

If anyone – lawyer, accountant, lender, insurance sales professional or a company/business-owner – wishes to contact me for further discussion on this topic, please e-mail me at WRiskManagerBlog@gmail.com with the Subject Line – Contractual Liability and/or Compliance?

I look forward to hearing from anyone reading this blog here or on one of my online network sites.

Commercial Loan Agreement Compliance – Lenders, are you concerned or not?

January 14, 2010

We’re really upbeat on our thoughts for 2010!

It seems like the new decade has arrived with a huge bang after the whimper of 2009 left with such a bad memory.

We have added 2 new Commercial Lenders, including another bank (3 of Canada’s “Big 5” Chartered Banks are using our firm’s services) and we have already exceeded January’s 2009 Loan Review volume in the first half of January, 2010!  WOW – now that is a terrific start to a new decade, isn’t it?

Who else is lending Commercially and who needs outsourcing of Borrower Loan Agreement Compliance? I can give many important reasons for considering outsourcing this task, as opposed to trying to perform an adequate job in-house, but will not do that now.

Why not, simply, leave it to the experts to ensure that your Borrowers meet the terms of their Loan Agreements when they obtain Property/Casualty insurance? Whether you’re in Canada or the USA, outsourcing to reduce your firm’s own risk while knowing that experts in the insurance and risk management field can be relied upon to protect your firm’s balance sheet should be paramount in your decision-making.  That makes us your answer!

As your loan institution cannot be expected to have the knowledge of insurance professionals, why would you not consider allowing a third-party provider that has this expertise to work with you?  You are the experts in Lending, Commercially, and rely on Attorneys to provide legal assistance.  Is this any different from outsourcing insurance documentation skills to those who know the industry?

I look forward to your feedback and have a prosperous, healthy and happy 2010!

Brand Reputation – How Important to you is Managing Media Risk to prevent the damage from Negative Press?

December 2, 2009

I won’t take credit for this since my morning e-mail from RightNow Technologies is a promotion of their upcoming webcast and their firm’s services but…do read.

It is a very interesting article re Media Risk and much of what I have been recently stating on my various WRiskManager platforms on Plaxo, Facebook, etc.  I know that a market capitalization reduction of $180 Million caught my attention – how about you?  It could be a much smaller business but how much effort will now be required to rebuild the reputation you have lost?  How much revenue and profit has been foregone by some needless act?  How will your bankers react?

RightNow Webcast: United Breaks Guitars with Dave Carroll

Dave Carroll’s story depicts the value of great customer experience and illustrates that spending a little can save millions when it comes to your brand’s reputation.

In 2008, Dave was flying United Airlines with his band Sons of Maxwell when a passenger sitting next to the window exclaimed that the baggage handlers were “throwing guitars out there.”

Carroll’s guitar was broken. He spent the next nine months in a service maze pursuing compensation. Eventually, customer service at United Airlines told him they were closing the incident and would not respond to any further emails.

Carroll vowed to write three songs about the experience and post them on YouTube, hoping to achieve a million views with all three combined. But he did much better. He hit one million on the first song within one week, and is at six and a half million views at last count. A media frenzy ensued and United’s market capitalization dropped $180 million over the next three weeks.

Register for this live webcast and hear Dave Carroll tell his remarkable story. He will be joined by Jason Mittelstaedt, RightNow’s CMO and Bruce Temkin, Vice President & Principal Analyst at Forrester Research, for a discussion on customer experience in the age of the social web.

There’s no better way to understand how powerful the voice of the consumer has become than to attend this webcast.

View the United Breaks Guitars video.

Join us:

Thursday, December 10, 2009
11:00 a.m. – 12:00 p.m. Pacific
2:00 p.m. – 3:00 p.m. Eastern

Register Now!

See you on the 10th,
RightNow

136 Enterprise Blvd. | Bozeman | MT | 59718 | 866.630.7669 |

http://www.rightnow.com/summit/Americas/2009/presentations/dave_carroll_tues.php

What else can I say about managing media for both positive and negative reaction – the value of ensuring positive images will definitely outweigh the negative as seen here from the views of YouTube and what someone has now done.  Am I not correct in emphasizing managing positive media as opposed to the damage done from something like this?

There are countless examples of companies who do not emphasize the importance of “perception” and how the public perceives their image of one’s business.  Not training your staff to contemplate the damage that can be done by one little act will cost so much more in lost revenues and profits than any employee will ever realize.  Can this cost be managed?  You bet!  But not by standard Risk Transfer – Insurance!  Only by better training, support, etc. can you ever manage media risk which, in my mind, is a very worthwhile investment in your business.

Use expert Risk Management to reduce the consequences of a similar occurrence happening to you!  Contact the WRiskManager today – larryewinsurance@gmail.com 

Legal Agreements and Risk Management – Franchising, Leases, Contracts, etc. & Compliance or Non-Compliance

October 29, 2009

Have you ever really given any thought to that legal agreement you have signed or are about to sign?  Have you thought about the insurance and risk management consequences you have or are about to assume on behalf of your business?

An example is a lease that requires $X Million in Liability Insurance – do you have adequate protection currently?  If you are non-compliant with your Landlord’s lease, what consequences might you face?  I know of an instance, several years ago, where the seller of a business had previously provided me with a copy of his lease; the requirement was for $5M (they were serving alcohol) and, to nobody’s surprise, the cost of the insurance was significantly more than it would be for $1M in Liability coverage.  The buyer of that business refused to purchase the mandated insurance from me – and went elsewhere for less cost because his choice of insurance providers did not request to see a copy of the lease.  What happened?  When the lease was to be renewed, the Landlord did not renew it, having chosen to replace the Tenant with a National Franchisee that provided an insurance policy in compliance with the terms of their lease.  And yes, the tenant was required to vacate, not relocating, thus risking the closure of the business.

What about Contracts?  Have you ever contemplated the consequences of a “Hold Harmless Agreement” or an “Indemnification Clause”?  Are you aware that you may be assuming the risk of a supplier or a customer by agreeing to those terms and driving the cost of your insurance policy higher?  Examples abound here with Property Managers, Contractors, etc.

And we all love Franchises, correct?  Did you know that some firms will require that your policy have coverage that may be difficult to find, on a “stand-alone” insurance policy?  This means that you should investigate what conditions are being required and how easy it might be to purchase a policy on your own as opposed to that of the “Master/Franchise” policy.  What about terms relating to the Financial Strength and Rating of your Insurance Carrier?  That “B” rating that your insurance company carries may not be sufficient to retain your franchise.  Or, what if you have a “protected territory” where your risk could be that you face the introduction of another Franchisee into your region because you were in default of the conditions of your Agreement?

Don’t just assume that what you have is the “norm” and that everyone must sign the agreement.  I have seen Loan Agreements with terms that can be amended, no different than Leases, etc.  The best Risk Management decisions should only be made when discussing your risks and options with an expert in the field.  Don’t assume that your present insurance provider can handle your business adequately and don’t be afraid to ask for a 2nd opinion – from a Risk Management consultant like ourselves.  We are not paid a commission to sell but a fee to offer our professional advice, including to lawyers and accountants who are not trained in insurance issues but their own expertise.

Another update to my exciting week!

October 23, 2009

What is of special interest this week, my friends?  Well, let’s begin by thanking the online friends I have south of the Canadian/USA border.

One terrific connection provided me with the contact information for 50 lenders he uses in his brokerage business.  Where did this lead?  I always like to return the favor (favour here in Canada) and am now trying to introduce him to another friend who has a very interesting concept to discuss where I will relish helping both of these fine gentlemen.

This evening, I spoke with another American friend who has connections to Lenders, Accountants, Lawyers and the Franchise Industry – meaning I can emphasize Lender Reviews with the Commercial Lenders, financial issues (including employee dishonesty with CPA’s), suggested/recommended(?) insurance requirements for contracts, leases and Franchise Agreements – 3 of my enjoyable aspects of Risk Management consulting.

I also had 1+ hour of wonderful “free” motivational consulting from “Linda” today and I so appreciate that.  I’ve set-up a “fan page” (is that what it is termed?) on Facebook now – WRiskManager – just like here!  I hope these efforts to “brand” me as the North American “expert” (sorry but my competition is reluctant to utilize the internet and find it a waste of their time 😉 ) will pay huge dividends (and I am very optimistic).

Well, that appears to be it for a Thursday evening.

RISK – My 1st Post! – Well, at least it is #1 for here (and maybe better than my other attempts)

October 22, 2009

This is my first blog attempt here and I hope better than my previous efforts 🙂 .

I have just had the most amazing week in so many ways that my excitement is bubbling over, hehe.  Reason for this is that I wished one of my many online friends a Happy Birthday on Friday last week and he (Craig, you know who you are) then proceeded to offer me immense advice on blogging and setting-up my blog on this site 🙂 .  He explained that I should be blogging every time I see, meet or hear something about “risk” since that is my expertise.  Well, here goes my effort then.

So, what else made my week so spectacular?  Well, one call to a friend of mine (Mike B.) that led to a request to speak to a group of bankers, accountants, advisors, etc. and then an e-mail from another good friend of mine (Mike A.) to gauge my interest to speak for 1.25 hours early next year to a group of Managers and then a follow-up Skype message (Andy – No, not another Mike hehe) re another speech to a group of independent management advisors – this all on Friday!

I then proceeded to mentor another online friend (Victoria) who is making a career move from agent to commercial broker and I offered my years of experience and continuing guidance to assist her.  Even in the same geographic area, it is much easier to use phone/computer communication than managing the headaches derived from fighting traffic to meet face to face.

What else has happened since Friday, then?  Well, I’ve been working with a management consultant friend of mine on his one client’s insurance requirements and ensuring that they’ve been met at affordable premiums.  I’ve provided two contacts’ names/info to another contact of mine who is in need of their services, been provided a list of 50 lenders by a new online connection (sure is nice to share contacts who can recommend me) so that my work during the next week will be quite busy in prospecting.

Well, you can see where my excitement originates from, correct?

What do I do, though?  I work in Risk Management – identifying and analyzing risks, controlling and financing risks.  My expertise is derived from nearly 20 years of Retail Commercial Banking and 20+ years of Insurance/Risk Management.  I work in the realm of Legal Contracts & Leases to Financial Statements through the spectrum of Property, Liability, Income and Human Resources and include Currency, FX, Interest Rate (yes, I did work in Banking), Employee Dishonesty, Media, Trade Credit, Business Continuity and Continuation Planning, Workers’ Compensation and Occupational Health & Safety – a broad spectrum.

Where do I spend the bulk of my time?  I review various Lenders’ Loan Agreements and Borrowers’ Insurance Policies for compliance with the terms/conditions of a Loan, recommending improved security where appropriate and knowing when a particular condition may be waived, as needed.  I even was called upon by a Lender during this week to recommend whether a loan condition for a “seismic report” be required or not – the Borrower already had Earthquake insurance and was located in a zone known to have activity so that I recommended the file be notated to never allow the Borrower to not include “quake” coverage on the policy.

As you can see, a busy and interesting week.  Not knowing when to curtail my comments, I will sign off now and be back later in the week to add something new.