August 31st, 2010
Soon thousands of college students will head back to campus in order to tackle new subjects. One of the most popular college courses is management. Essentially, nobody should be surprised by this because business colleges and business courses continue to see increasing enrollment. This rise is related to the increasing need for quality managers in all businesses. Management relies heavily on two things: knowledge and communication. A student in a management course will likely hear a quote like this on the first day of class:
“Management means, in the last analysis, the substitution of thought for brawn and muscle, of knowledge for folklore and tradition, and of cooperation for force.”[i]
What Peter Drucker means when he says this is that success depends upon the twin pillars of management: knowledge and communication.
How does this relate to Architects and Engineers insurance?
Small firms may lack the experience and knowledge to manage expectations for newly awarded projects that may be their largest to date. So they must be covered by A & E insurance while they learn. In addition, claims can also arise from feasibility studies, delays in projects, faulty cost estimates, or sub-contractor error. These are knowledge issues.
Communication problems also present a serious risk to businesses. Surprises when building or consulting on a large project may be costly. In all of these situations, the architect or engineer may not make an obvious error, and this is one of the strongest reasons why a smart A & E insurance portfolio is necessary, and it is why smart managers know that protecting their assets and their good reputation is vital. Managers in every field connected to architecture and engineering need to have quality insurance. It is smart management.
Stuckey & Company’s Aspire A & E program is unique because it addresses the technical aspects of the risks commonly faced by architects and engineers. Dwight Stuckey, president of Stuckey & Company, believes his firm’s ability to speak and understand the technical language of architects and engineers gives them an edge. And in a world in which knowledge and communication are so central to good management, it makes sense to go with Stuckey & Company: they know how A & E insurance works.
The target accounts for Aspire A & E are businesses with $1,500,000 or less in revenue in any state, except Alaska and Hawaii.
For more information contact Dwight Stuckey at: 800-828-3452 x 22, or via email at:
dwight@stuckey.com
i Bateman, Thomas S. and Scott A. Snell. Management: Leading & Collaborating in the Competitive World. Boston: McGraw Hill, 2009. p 4.
Tags: Architects, Architects & Engineers, aspire a&e, Engineering, Insurance, Insurance Coverage, management, Stuckey, Stuckey & Co., Stuckey and Company, Technology, technology professional liability insurance
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August 31st, 2010
Translators
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Chances are, if you have traveled outside of your bedroom, you’ve heard a language other than what you speak regularly. In this country alone, there are neighborhoods all over the place that speak different languages as the ‘norm’ despite English being the national language.
Translate that to the business world and there are many opportunities to go after – that is, once you cross that communication barrier. Many times a company will hire a translator for just such an undertaking. …. But let’s say the translator isn’t exactly 100% accurate on some vital information – like say medical records – or say a translation error costs the company several hundreds of thousands of dollars in monetary damage. Next thing you now, the translator has a pretty big lawsuit on hand – and without proper coverage we know how this story is going to end…
Luckily, Stuckey & Company has the answer to this problem– an individually tailored professional liability policy to cover the translator in the event of any errors & omissions. We have several A-rated carriers than can craft coverage to the insured’s needs.
Highlights of coverage include:
- Worldwide territory coverage
- “admitted” products in most states
- Personal injury included
- Spousal coverage
- Duty to defend forms
- Broad definition of insured
- Minimum premiums from $500
- Limits available from $100k - $5m for qualified risks.
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REMEMBER:
Even a small oversight in translation can lead to a very large financial loss to the client.
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JUST FOR FUN:Some well known translation errors made by big companies are listed below – maybe you remember these….
1). KFC had some fallout to deal with when their marketing phrase “finger lickin’ good” came out in Chinese as “eat your fingers off”
2). Who can forget General Motor’s Chevrolet Nova vehicle – which translated in Spanish in Central / South Americas as “no va” or “it doesn’t go”
3). Mead Johnson Nutritionals was forced to recall multiple baby food products. The reason? – The instructions on how to prepare the products weren’t translated accurately from English to Spanish. According to the inaccuracies, the products could have caused seizures, irregular heartbeats, renal failure and Death!
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Let us help you cover your clients! We will make it happen!
Contact Chris Boylan, Professional Liability Renewal Underwriter, for applications in each state, claims samples, specimen forms, general questions, or sell sheets.
Chris@stuckey.com or 1-800-828-3452 x 35
Tags: Insurance Coverage, personal injury, spousal coverage, Stuckey, Stuckey & Co., stuckey & company, stuckey and co, Stuckey and Company, translation, translation errors, translators, worldwide coverage
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August 31st, 2010
REGISTER NOW!
Thursday September, 30th, 2010 at 2:30 pm cdt
Aspire A&E, Stuckey’s insurance program for architects and engineers, is designed to give small firms easy access to competitively priced, clearly defined, broad Errors and Omissions.
Join Chris Boylan from Stuckey & Company as he explains the coverage highlights and benefits of this featured program.
This 30-minute, free webinar is available to all, and perfect for agents specializing in professional liability insurance.
Join us for an interactive discussion about this valuable resource your clients can take advantage of!
Tags: Architects, Architects & Engineers, aspire a&e, Chris Boylan, Christopher Boylan, Engineering, engineering professional liability insurance, Insurance Coverage, Stuckey, Stuckey & Co., stuckey & company, Stuckey and Company, webinar
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August 25th, 2010
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August 4th, 2010
This Not-So-Secret Stuckey Recipe is from Susan Pollman:
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Garlic Bread Bites
1 can original biscuits (sliced in halves)
1 tablespoon pantry Italian Seasoning
1-2 cloves garlic
½ stick of butter
Saute seasoning, garlic and butter
Add biscuits and soak in mixture for a few minutes
Bake at 350 for 12 min.
Tags: Insurance, Insurance Coverage, IT Insurance, Stuckey, Stuckey & Co., stuckey & company, stuckey and co, Technology, technology insurance, technology professional liability insurance
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