Avalon Risk Management

Transcription

1 Avalon Risk Management

2 Vision Avalon Risk Management will always be a premier provider of innovative insurance and surety solutions as a valued business partner within our selected industries; always maintaining integrity and profitability. Mission Every day we strive to earn the trust and respect of our existing and future business partners in the most profitable and ethical manner through excellent service, cutting-edge technology, and professionally designed insurance and surety solutions.

3 Avalon was founded with a commitment to provide the highest level of service to the logistics industry. With the ongoing support of our clients and business partners, we are a premier provider of insurance and surety solutions. Avalon writes a dominant percentage of importer bonds through third-party logistics (3PL) providers and handles a similar percentage of insured cargo shipments. We also specialize in Professional Liability coverage as well as Property and Casualty Insurance and Truck Insurance for the logistics industry. Our growth would not have been possible without the talented and knowledgeable people who make up our organization. Every day, Avalon is thankful to our clients for their continued support, and we credit all our employees for earning this commitment. Looking forward, Avalon will continue to be an innovator, delivering exciting new insurance products and related technology to the logistics niche. 1

4 We ARe dedicated to providing A RAnge of products And services to Meet your needs. Avalon Risk Management understands that success in your business, like ours, depends on competitive pricing and exceptional service. Cargo Insurance is an essential product that protects business assets and relationships to ease your mind when cargo is in transit.

5 CARgo insurance Avalon works with multiple markets to provide coverage tailored to meet your individual Cargo Insurance needs. All policies provide basic All-Risk coverage for cargo in transit, including Free of Particular Average and With Average alternatives. At Avalon, we go beyond standard coverage forms to offer you customized cargo policies, which can include: project shipments Special rates and insuring conditions for short and long-term projects, including high value shipments. break bulk & bulk CARgo Coverage for containerized, break bulk and bulk cargo moves. WAReHouse storage Door-to-door All-Risk coverage, including short and long term warehouse storage. CARgo legal liability If sued by customers or their subrogating insurers, coverage includes defense costs and settlement amounts you are legally obligated to pay under your bill of lading and contract terms. bailee Coverage for warehouse operators or local truckers that insures property in your possession on an All-Risk basis. special CARgo ClAuses Policies can be tailored to include:» Airfreight Replacement Clause» Brands/Labels Clause» Concealed Damage» Consolidation & Deconsolidation» Control of Damaged Goods» Debris Removal» Deliberate Damage - Customs» Deliberate Damage - Pollution Hazard» Exhibition Coverage» Import Duty» Shortage from Container AutoMAted CARgo insurance issuance Avalon accepts electronic reporting transmissions from your computer system or through our proprietary Internet-based system, Web Merlin. Your Avalon representative can provide information about these options. Highlights include:» View policy and rate information» Automatically calculate premiums» Print or an insurance certificate» File a claim online» Easily request Special Quotes for quick approval» Save time by establishing templates» Conduct denied persons screening» Run production reports to increase sales ClAiMs MAnAgeMent We have streamlined procedures for handling cargo claims. When a claim does occur, it s important to act quickly. That s why we work closely with you to provide the appropriate information to resolve your claim. We understand the negative impact on your business and relationships if your claims are not promptly settled. At Avalon, we work with reputable insurance companies who have the highest service standards for processing claims and settlements. We are also a Third-Party Administrator, allowing us to promptly settle claims within our authority. If you choose, we can handle the administration of claims for you. Our procedures can adapt to your business environment and are flexible enough to exceed your expectations. By leveraging operational excellence in technology and claims handling expertise, Avalon provides many benefits to our business partners through the use of our proprietary claims management system. The ARMour Claims Database provides our insureds with the flexibility to manage claims more efficiently by providing faster processing and resolutions. training Avalon provides tools and training programs to assist your employees in understanding Cargo Insurance and addressing coverage needs. 2

6 our RelAtionsHips WitH our surety CoMpAnies places us in A unique position of HAndling underwriting And ClAiM MAtteRs in-house. Avalon Risk Management works with select surety companies that are financially sound and reputable, allowing us to provide the professional services our clients expect.

7 surety bonds We act as a Managing General Agent for our sureties and specialize in various transportation-related bonds. We also act as a Third-Party Administrator with authority to handle all bond claims and subrogation matters. Whatever your transportation surety needs, Avalon can assist. u.s. CustoMs bonds Importer Bond Required for the importation of goods and guarantees the payment of duties, taxes and fees, as well as compliance with Customs laws and regulations. Custodial Bond Secures the obligation of bonded warehouses, common carriers, cartmen, container freight stations and centralized examination stations. International Carrier Bond Secures all activities related to the entry of a vessel, vehicle or aircraft. oti bonds Required by the Federal Maritime Commission (FMC) to guarantee compliance with the Ocean Shipping Reform Act. We also provide the Customs bond required for AMS filing. other bond types» TIA Performance Certified Program» SDDC Bonds» Trucker Bonds» Full range of Carnet services» Temporary Importation Bonds foreign-trade zone bonds FTZ Operators Bond Required for operators of general purpose zones or subzones. This bond guarantees compliance with regulation 19 CFR 146.5(e). Back-To-Back Indemnity Bond Reimburses an FTZ operator or grantee for any duties, taxes, liquidated damages, fines, penalties, interest or other lawful charges as a result of the zone user s negligence. underwriting Avalon Risk Management makes each step in the bond approval process easy and efficient for you. Our underwriting process recognizes customer expertise and provides underwriting authority to issue most bonds in-house. With strong regional branches, we respond promptly with approval. We have access to multiple sureties, which allows us to underwrite large bond risks. We also have access to valuable resources that assist in evaluating a principal s financial strength. MAnAgeMent information RepoRts Our useful reports assist customs brokers in generating data for their own operation as well as managing importers entries. Using information downloaded from U.S. Customs and Border Protection (CBP) on a daily basis, Avalon compiles data to:» Support an import compliance program.» Provide entry information for all ports of entry.» Identify entry activity for additional divisions or trade names.» Provide details of liquidated or unliquidated entries, increased duty bills, liquidated damages, loss experience and more.» Tailor any report for a particular customs broker or importer. AutoMAted bond issuance Managing Customs bonds is easy with Avalon s Web Merlin secure Internet portal. You can issue both single transaction and continuous bonds (including ISF bonds), generate bond applications, bond riders, 5106 forms and report bonds to Avalon electronically. Web Merlin is designed to save you time when managing your bond-related activities. 4

8 our expertise in your industry sets us ApARt And AlloWs us to deliver specialized protection for your entire logistics operation. Avalon Risk Management realizes that the possibility of making a mistake exists in every business. In the logistics industry, the consequences can be severe. It is important to obtain liability coverage tailored to your exposures and backed by an organization in-tune with your industry s changing landscape.

9 CoMbined transit liability program In the logistics industry, a minor mistake can result in a major loss. Avalon s Combined Transit Liability (CTL) Program provides the coverage needed to protect your business from errors and omissions, as well as cargo damage claims. At Avalon, you have one policy form and one underwriter for all your professional and legal liability needs. This means no gaps in coverage. Our basic CTL policy includes: errors & omissions (e&o) Responds to claims and lawsuits for consequential or financial loss your clients may suffer as a result of your alleged negligence. Coverage includes attorney fees, court costs and settlements. CARgo legal liability If sued by customers or their subrogating insurers, coverage includes defense costs and settlement amounts you are legally obligated to pay under your bill of lading and contract terms. Policies may be tailored with multiple coverage options: Contingent legal liability Covers legal liability on a contingent basis for property in the care, custody or control of a hired motor carrier, railroad or airline. MotoR truck liability Provides coverage for physical loss or damage to cargo while transported in owned or leased vehicles. WAReHouse legal liability Covers physical loss or damage to cargo while stored in scheduled warehouses owned, leased or subcontracted by you. first dollar defense Your deductible will not apply to attorney fees, only to settlement amounts. For claims below your deductible, coverage for attorney fees can also be extended. international CoVeRAge Provides legal defense if a lawsuit is filed against you outside the United States or Canada. pollution CleAnup Coverage for hazardous spills and removal of cargo. prior ACts CoVeRAge Provides coverage for E&O claims that occur prior to inception of the policy and reported while policy is in effect. RegulAtoRy defense Offers immediate legal advice to defend 3PLs from penalties leveled against them by government agencies. special ContRACts We will review the insurance provisions and limits of liability sections of contracts you enter into and offer options to extend coverage for declared value and/or increased liability. ClAiMs expertise Avalon has an experienced staff to handle your professional and legal liability claims. We have underwriting and claims settling authority with multiple markets. This allows us to underwrite your special contact needs and provide sound legal advice on claims and lawsuits. Avalon only works with reputable attorneys that specialize in your industry. Avalon s claims handling expertise is enhanced with our proprietary claims management system, ARMour. This database allows for efficient claims settlement, subrogation and other claims-related services that Avalon can provide. We also provide claims handling services for companies that choose to outsource their claims process with access to real-time information through ARMour. 6

10 our focus on the CoMMeRCiAl trucking industry is built on strong RelAtionsHips WitH specialty MARkets. Avalon Risk Management has a history in the transportation industry which allows us to understand your needs and develop insurance solutions tailored to you.

11 truck insurance Avalon provides a full array of products to cover the unique exposures of the trucking industry. We work with our clients to protect their businesses through proper risk management. Avalon provides a complete review of your insurance coverage, vehicle schedules and drivers, licensing and filing requirements, as well as loss prevention practices. We offer the following surety and insurance solutions for truckers: physical damage Provides coverage for theft and damage to commercial trucks, tractors and trailers. trucker s liability Liability coverage for commercial vehicles that haul goods for others, including coverage for death, bodily injury and medical expenses. general liability Protects your assets when sued after an injury, death or property damage. MotoR truck CARgo (MtC) Coverage for physical loss or damage to property of others while in transit, including legal costs. terminal CoVeRAge Extends coverage for loss or damage to property of others at scheduled terminals. specialized bonds» Bonded Carrier Bonds» Fuel Tax Bonds» Oversize Vehicle Permit Bonds» Property Broker Bonds AdditionAl CoVeRAge» Business Income and Extra Expense» Business Property and EDP» Commercial Auto» Contractor s Equipment» Crime Insurance» Hired/Non-Owned Auto» Non-Trucking Liability» Property of Others» Umbrella» Workers Compensation ClAiMs expertise We work with reputable insurance carriers that provide prompt claims service, including loss prevention kits for drivers. This helps gather key information should an accident occur, and promotes good loss practices. ResponsiVe service Most fillings are made electronically to meet federal Motor Carrier Safety Administration and state requirements. We issue certificates of insurance and auto identification cards in-house to provide you with same-day service. If necessary, certificates of insurance can be ed promptly upon request. financial stability Avalon works with highly rated carriers to provide you with stable insurance markets. 8

12 We understand the logistics business And evaluate your insurance needs to ReduCe your exposures. Avalon Risk Management works with select insurance companies to provide market options and tailored products that meet the needs of your industry.

13 business insurance Property & Casualty (P&C) Insurance and Executive Protection are essential to protect your business assets and reduce litigation exposures. Avalon s employees have years of experience understanding your industry. We know the risks facing your business and provide cost-effective, financially sound alternatives to protect you. Through our relationships with various insurance companies, we can combine the following products to meet your needs: property insurance Provides All-Risk coverage for damage to your business property, including building(s), office furniture, equipment and other business contents. Electronic Data Processing (EDP) Offers All-Risk coverage for software, data or special upgrades made to your computer systems after purchase. Business Income & Extra Expense Offers protection against loss of income or profits. When BI & EE is endorsed to your business package policy, you are reimbursed for the income lost while your business was inoperable and receive payment for the extra expenses occurred to get your business up and running after a covered loss. Property Extension Endorsement Extends property coverage at scheduled locations to include:» Accounts Receivable» Business Income and Extra Expense» Employee Dishonesty» Newly Acquired Property» Valuable Papers general liability Commercial General Liability Covers your legal liability for bodily injury, death and third-party damage. Umbrella & Excess Liability Adds another layer of protection to the other policies that you might hold, including General Liability and Commercial Auto Liability policies. CoMMeRCiAl AutoMobile Covers both physical damage and liability for bodily injury or death arising out of the use of a commercial auto. Hired and nonowned auto liability is available for rentals and employees driving vehicles during business hours. WoRkeRs CoMpensAtion Provides statutory benefits for employees after they suffer a job-related injury or disease, as determined by state law. employer s liability Provides protection for claims initiated against the business from the insured worker or his/her family. executive protection Directors & Officers Protects the personal assets of a company s directors and officers and the financial well-being of the company. Employment Practices Liability (EPLI) Coverage for allegations of discrimination, sexual harassment, wrongful termination, retaliatory treatment, unfair hiring practices and other workplace torts by employees. Fiduciary Insurance Covers liability for misadministration of employee benefit plans. Crime Insurance Provides protection against employee theft, depositor s forgery, credit card forgery, money orders, counterfeit paper currency, counterfeit checks and other white-collar crimes. Transportation specialists are particularly vulnerable to crime claims because they handle duty and freight as well as property of others that is susceptible to employee theft. Internet Liability Offers protection for legal exposures arising out of Internet communications. 10

14 Corporate Headquarters 150 Northwest Point Boulevard, 4th Floor Elk Grove Village, IL Phone: (847) Fax: (847) Atlanta Boston Charleston Chicago Houston Los Angeles Miami New York San Francisco Seattle Toronto Avalon Risk Management is not responsible for inaccurate information contained in this brochure. The reader assumes all risk in the use of such information, and actual policy terms, conditions and exclusions will prevail. Copyright 2011 Avalon Risk Management. All Rights Reserved. 11