<div dir="ltr">All,<div><br></div><div>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. </div><div><br></div><div>Thank you,</div><div>Michael</div><div><br></div><div>Michael Meyer<br><div class="gmail_extra"><br><div class="gmail_quote">On Mon, Jul 16, 2018 at 7:50 AM, Michael Meyer <span dir="ltr"><<a href="mailto:mgmeyer83@gmail.com" target="_blank">mgmeyer83@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr"><div class="gmail_quote"><br><div dir="ltr"><div>All,</div><div><br></div><div>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. </div><div><br></div><div>Looking forward to talking to you all again soon. Thank you.</div><div><br></div><div>Best regards,</div><div><br></div><div>Michael</div><div><br></div><div>Michael G. Meyer, Esq.</div><div>Co-Chair Insurance & Surety Committee, RPPTL Section, The Florida Bar</div><div>(813) 924-2983</div><div><br></div><br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">Michael Meyer</b> <span dir="ltr"><<a href="mailto:mgmeyer83@gmail.com" target="_blank">mgmeyer83@gmail.com</a>></span><br>Date: Fri, Jul 13, 2018 at 4:00 PM<br>Subject: [Liability Insurance] Florida Bar RPPTL Insurance & Surety Committee Conference Call - Monday, July 16, 2018, beginning at Noon<br>To: "<a href="mailto:liability_insurance@lists.flabarrpptl.org" target="_blank">liability_insurance@lists.fla<wbr>barrpptl.org</a>" <<a href="mailto:liability_insurance@lists.flabarrpptl.org" target="_blank">liability_insurance@lists.fla<wbr>barrpptl.org</a>><br><br><br><div dir="ltr">
<p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">Folks,<u></u><u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="MsoNormal" style="margin:0px;text-decoration-style:initial;text-decoration-color:initial"><span style="font-size:12.8px;color:black">This is a reminder for our monthly Insurance and Surety Committee call, scheduled for<span> </span><b>Monday, July 16, 2018 - beginning at Noon</b>. Our speaker for Monday’s CLE will be<span> </span><b>Steve Goodfellow</b>,
<b><span style="font-size:10pt;font-family:"Times New Roman",serif">Ph.D., CPCU, Partner, VP National Accounts, for
Insurance Office of America (IOA). </span></b>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 "</span><font color="#000000"><span style="font-size:12.8px">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, "
<span style="background-color:rgb(255,255,255);text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline">Preparation (H)urricane,</span>" which is where Mr. Goodfellow will begin his presentation on Monday - just in time for hurricane season! </span></font></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">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,<span> </span><i><u>Insurance Matters!</u></i><u></u><u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><u><span style="color:black">Meeting Information</span></u><span style="color:black">:<u></u><u></u></span></p><p class="MsoNormal" style="margin:0px 0px 0px 1.5in;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><b><span style="color:black">Dial-in Information:</span></b><i><span style="color:black"><span> </span><span> <span> </span></span>Dial-in: 888-376-5050<u></u><u></u></span></i></p><p class="MsoNormal" style="margin:0px 0px 0px 1.5in;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><i><span style="color:black">Pin: 7854216320#<u></u><u></u></span></i></p><p class="MsoNormal" style="margin:0px 0px 0px 1.5in;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><i><span style="color:black">Moderator: 36802# (Moderator Does Not Use Pin Code)<u></u><u></u></span></i></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="m_9030164012282273204m_1808326147766411687m_7041332636693166491gmail-m_-7582938180963634474MsoPlainText" style="margin:0in 0in 0.0001pt;font-size:11pt;font-family:Calibri,sans-serif;text-decoration-style:initial;text-decoration-color:initial">Please be sure to<span> </span><u>call in early</u><span> </span>to eliminate “beeps” during the committee reports. Also, remember to<span> </span><u>mute your lines</u><span> </span>to avoid unnecessary background noise during the reports and CLE presentation, but<span> </span><u>please do not put the call “on hold”</u>.<u></u><u></u></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><b><span style="color:black">Attendance:<span> </span><span> <span> </span></span></span></b><span style="color:black">Click here to<span> </span></span><span class="m_9030164012282273204m_1808326147766411687m_7041332636693166491gmail-m_-7582938180963634474MsoHyperlink" style="color:blue;text-decoration:underline"><a href="https://docs.google.com/forms/d/e/1FAIpQLSdtNn-5TBGuWTAiB8V3s62ID6FA9GyxPtPjuk8TVZP7cgaOlg/viewform" style="color:rgb(17,85,204)" target="_blank">Record Your Attendance</a></span><span style="color:black"><u></u><u></u></span></p><p class="MsoNormal" style="margin:0px 0px 0px 0.5in;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial;text-indent:0.5in"><span style="color:black">Click here to<span> </span></span><span class="m_9030164012282273204m_1808326147766411687m_7041332636693166491gmail-m_-7582938180963634474MsoHyperlink" style="color:blue;text-decoration:underline"><a href="https://docs.google.com/spreadsheets/d/1nj8NqxAKjdfh3tmWcLF-9xdob0Cv-w5-5xR2kJ5EQeU/edit#gid=1588124515" style="color:rgb(17,85,204)" target="_blank">See Other Attendees</a></span><span style="color:black"><u></u><u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><u></u> <u></u></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">We look forward to the call.</span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><br></span></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px">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;</span></font></p><p class="MsoNormal"><br></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><br></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px">2.) Family Ties: Reinforcing the need for Private Directors and Officers as indicated above;</span></font></p><p class="MsoNormal"><br></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><br></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px">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;;</span></font></p><p class="MsoNormal"><br></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><br></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px">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.</span></font></p><p class="MsoNormal"><br></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><br></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>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;</b></span></font></p><p class="MsoNormal"><b><br></b></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>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.</b></span></font></p><p class="MsoNormal"><b><br></b></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>7.) Privacy Breach: explains all of the coverages that are easily packaged to protect your clients against hackers and cyber extortionists;</b></span></font></p><p class="MsoNormal"><b><br></b></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>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.</b></span></font></p><p class="MsoNormal"><b><br></b></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>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:</b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b>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></span></font></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><b><font color="#000000"><span style="font-size:12.8px">b. Lifestyle Investment: IOA recently bought a company that has designed an extraordinary program for helping High Net Worth individuals </span></font><span style="color:rgb(0,0,0);font-size:12.8px">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</span></b></p><p class="MsoNormal"><font color="#000000"><span style="font-size:12.8px"><b><br></b></span></font></p><p class="MsoNormal"><b><font color="#000000"><span style="font-size:12.8px">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 </span></font><span style="color:rgb(0,0,0);font-size:12.8px">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.</span></b></p><p class="m_9030164012282273204m_1808326147766411687m_7041332636693166491gmail-m_7966783239806646422MsoListParagraph" style="margin:0in 0in 0.0001pt 0.5in;font-size:11pt;font-family:Calibri,sans-serif;color:rgb(34,34,34);background-color:rgb(255,255,255);text-decoration-style:initial;text-decoration-color:initial"><br></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><br></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">Best regards,</span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">Michael</span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black"><br></span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">Michael G. Meyer</span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">Co-Chair Insurance & Surety Committee, RPPTL Section, The Florida Bar</span></p><p class="MsoNormal" style="margin:0px;font-size:12.8px;text-decoration-style:initial;text-decoration-color:initial"><span style="color:black">
</span></p><p class="MsoNormal" style="margin:0in 0in 0.0001pt;font-size:11pt;font-family:Calibri,sans-serif"><span>Sr. Project
Manager/Legal Counsel<span></span></span></p>
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