Case Studies

Closed for Business: A Pollution Liability Insurance Case Study

A Seattle firm owned 15 gas stations in Washington and leased them to a large oil company for a number of years. The oil company self-insured the Pollution Liability for the underground storage tanks (USTs). A normal amount of leakage and contamination occurred over time at a number of locations. Eventually, the lease ended and operation of the 15 gas stations reverted back to the owner.

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“Anonymous” Hacks Sony Playstation Network: The increasing importance of obtaining cyber security insurance coverage

Via Cozen O'Connor – www.cozen.com

Anyone who harbors the notion that video games are simple distractions from the age of “Pong” has not seen the latest statistics. One of the most popular games released last year, “Call of Duty: Black Ops,” generated $650 million in the first five days of sales and exceeded $1 billion in record time. The achievement put the game in the company of Michael Jackson’s album “Thriller” and James Cameron’s movie “Titanic.” As a whole, the video game industry has been valued at more than $100 billion. The massive size and scope of the industry make the impact of a cyber attack all the more devastating.

Like most games, video games are more fun to play with others. Games like “Black Ops” are designed specifically with the multiplayer experience in mind. Multiplayer games are made possible by online networks, such as those hosted by Microsoft and Sony, which enable gamers to connect with each other and play together in real time. For example, Microsoft’s Xbox Live service not only enables multiplayer games, but offers a host of other services, including the ability to download games directly to a user’s hard drive. Like other online shopping experiences, downloading games usually requires the use of a credit card number and the disclosure of personal information. It is a convenient, efficient, and fun service. What could possibly go wrong? Just ask Sony.

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Fire Damage results in a 75% increase in productivity

When a commercial client has a major loss, expert claims administration and support can be vital for the financial wellbeing of the corporation. One of Parker, Smith & Feek’s food processing clients experienced a devastating $15 million fire to their Mid-West processing plant, which completely shut down operations at that location for eighteen months. Parker, Smith & Feek Claims provided expert assistance throughout the process, which helped the processor navigate its way through both immediate and long-term challenges.

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Connecting the wellness Dots!

Red Dot Corporation is a leading manufacturer of quality HVAC products for the heavy vehicle industry. Red Dot employs approximately 300 plus employees and was looking for a way to promote healthy lifestyles. The key objectives of their wellness program were to promote healthy eating choices, get employees moving/exercising in a meaningful manner and promoting awareness of their current quit smoking program.

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A Shocking Claim – A Claim Scenario

Late one Friday afternoon, an employee of a sub-contractor was working on the roof of a construction project that was insured by Parker Smith & Feek through an Owner Controlled Insurance Program (OCIP.) The sub-contractor allowed a long armed piece of equipment to strike high voltage power lines, resulting in the worker sustaining first and second degree burns across his body.

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Hacked! – A Claim Scenario

A client’s computer system was ‘hacked’, by a group of unidentifiable individuals, illegally accessing their computer system to store data, which would be then used in other ‘hacking’ attacks.
As is common with hacking attacks, the usefulness of our client’s system diminished and the hackers disabled our clients’ entire computer infrastructure to remove any traceable information, causing multiple servers to shut down, disrupted their internet traffic and disabled their e-mail service.

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Two Claims, One Deductible – A Claim Scenario

In December of 2006, windstorms slammed into Puget Sound and Southern British Columbia, producing hurricane-force wind gusts and heavy rainfall that caused several million dollars' worth of damage and leaving over one million residences without power.

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In Imminent Danger Of Collapse – A Claims Scenario

During a periodic inspection a client discovered some corrosion and deterioration in the pier located directly underneath their downtown Seattle premises. The corrosion was significant and caused a portion of the building to become untenable.

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Denied Indemnity

Overview
A client faced a lawsuit, filed by a former business partner. The partner was requesting a substantial settlement because he claimed that the Parker, Smith & Feek client raided the partner’s employees putting his business out of operation. The client tried to access the Directors and Officers (D & O) insurance coverage, but the insurance carrier declined because of breach of contract and denied indemnity.

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Developing an effective Workers’ Compensation program.

Overview
One of the nation’s largest privately-held retirement and assisted living organizations had a goal of reducing workers’ compensation costs and work place injuries.

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Applying retroactively for a credit that has already been rejected by the insurance company

Parker, Smith & Feek identified an opportunity to bring immediate value to a local mechanical contractor's bottom line with our expertise in both construction and insurance. This client specializes in mechanical solutions for all types of projects included but not limited to; Mixed use, Institutional, Residential, Office and retail. 
The contractor had a desire to pursue a credit they had previously applied for, but been rejected by the insurance company.

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Simple Changes Bring Big Improvements – Workers Compensation

In 2001, a large consumer electronics manufacturer and distributor hired Parker, Smith & Feek as their insurance broker. As part of our initial engagement was a thorough review of this corporation’s workers’ compensation insurance program and their safety and risk prevention activities. We immediately noticed that their workers’ compensation Experience Modification factor was 54% higher that other consumer electronics manufacturers nationwide. Employee absenteeism due to injuries also seemed abnormally high.

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Costly Insurance Determined Unnecessary

One of Washington State’s largest general contractors decided to compete in the bidding for a large dam project in California. As we typically do, Parker, Smith & Feek was asked to review the project specifications and bid documentation to determine the insurance requirements for the project.

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