- How do I file a claim for a Property, Auto, or General Liability?For Great American claims, you may fax the specific line-of-business Acord form for any of the claim types listed above to 888-223-1317. For your convenience, this form is included in your insurance policy notebook and sent with your Insurance Binder information. Or, if you prefer, you may call 877-836-1555 to report a claim over the phone, too. Supply as much detail as you know at the time, and even if you don’t have all the information, file the claim anyway. The carrier will follow-up with you for the details after the claim is assigned. If you have a carrier other than Great American, please review the Claims Instructions under the Products and Services tab on the home page.
Back to top - How do I file a Workers Compensation (WC) claim?All WC claims are reported by calling your WC Insurance Carrier directly. Telcom provides carrier information on our website under the Products and Services tab on the home page and on the claims instruction sheet that is mailed to each of our policyholders with their insurance binder and the policy notebook. For all Great American claims, call 877-836-1555. Generally you will be asked questions about the accident, the date and time, and location, the employee’s name, address, position, and the nature of the injury. You will also be asked for employee and employer contact information.
Back to top - How do I file a Director’s and Officer’s (D&O)/Employment Practices Liability (EPLI) or Fiduciary claim?Notice of a claim or of a potential claim (also known as an “incident”) must be given to your D&O insurance carrier in writing and within 30-days of knowledge of a potential claim. The written notice should include policy number, name of insured, name of claimants, and a full description of the events that may give rise to the claim. Additionally, during the policy period if a D&O, EPLI or Fiduciary claim is first made against you or even if you become aware of an alleged wrongful act that MAY give rise to a claim (i.e. EEOC or Dept. of Human Affairs filing), you must also report this potential claim in writing to your insurance carrier as soon as practical, but within 30-days of the notice. We suggest that you send this type of confidential material to the carrier through a traceable method.
Back to top - If I’m having difficulties with a claim or I just need to ask someone a question, who can I contact?At Telcom our Claims staff stands ready to provide information and help with all claims matters. Please contact:
• Cheri Condee - 800-222-4664 x1082, or CLC@TelcomInsGrp.com
• Marilyn Blake - 800-222-4664 x1085, or MAB@TelcomInsGrp.com
Back to top - What are the OSHA Telecommunications Standards that I must know?The Occupational Safety and Health Act applies to all private-sector employers/employees in the 50 states and all territories and jurisdictions under federal authority. Those with 10 or more employees or in high hazard (telecommunications is considered high hazard) have some specific requirements such as the OSHA 300 log. Telecommunications companies must follow the standards outlined in 1910.268. Look for a PowerPoint presentation that outlines the major areas that all telecommunications companies should have within a policy to adhere to the standard in the Education and Risk Management tab; go to PowerPoint Presentations and then to OSHA Telecommunications standards. Under the Safety Tips tab in this same section there’s information on the OSHA 300 log too.
Back to top - Does Telcom have a sample safety manual?Although many companies have informal safety policies, it is an OSHA standard that those policies be in writing and that your employees know them and have been trained on these regulations as relates to their specific jobs. We have worked with several companies to help design the process as well as a few sample safety manuals which can serve as templates in your development of a safety manual for your company. For a sample go to the Education and Risk Management tab on the website and select Safety Manual.
Back to top - Do you have any safety topics/tips/videos that I can use at my telco for training?At Telcom, the safety and well-being of your company and your employees is our primary goal. Over our long history, we’ve gathered and created a vast array of safety training material and tips that are yours for the using. In the Education and Risk Management tab, you’ll find hundreds of pre-designed safety training tips and free-for-the-lending videos to supplement your own safety training.
Back to top - What’s the difference between an insured, an additional insured and an additional named insured?An insured is the person or company who is protected under an insurance contract. The terms of the agreement for insurance are detailed on the declarations page of the policy and will name the person or company that will be covered. An additional insured is a person or organization not automatically covered but who could be added by an endorsement to the policy for specific reasons such as a contract. Some policies provide a broad blanket additional insured endorsement however you should check with Telcom before signing any contracts with insurance requirements. An additional named insured is a person or organization identified as an insured in the policy declarations or as an addendum to the policy. This can include subsidiaries or other entities closely held by the insured and for which insurance coverage is desired.
Back to top - What is the main difference between my Property and Liability insurance sections of my policy?The property section is an agreement between you and the insurance carrier for coverage of property that you own or for the loss of it’s income-producing ability when the loss is caused by a covered peril. Some examples of covered perils include fire, lightning and vandalism etc. All policies do not cover all perils therefore it is a good idea to review what type of coverage you purchase. Liability insurance is the coverage part of your policy that protects you for obligations you may have to pay others arising from a legal obligation to do so. These types of situations may arise from one’s negligence or a statutory requirement such as workers compensation insurance.
Back to top - What type of information might I need to insure a new building or property onto my policy?Insurance companies often use something called COPE to assign a rating to property. COPE stands for construction, occupancy, protection and exposure. The type of answers to these aspects of your property can affect the premium to insure the property. For example, if a property is constructed out of frame and wood it will be much more susceptible to a total loss by fire than one constructed out of concrete. The occupancy refers to the activity conducted at the property and some may be much riskier than others. Protection refers to fire protection factors such as sprinklers or distance to a fire hydrant and finally, exposure is related to the actual physical location of the building that could put it at a greater risk of a loss. Therefore, it is a good idea to think about insurance coverage before purchasing or building a new property.
Back to top - Why do insurance companies need to ask for my financial statements and what are they looking for?Financial statements provide important information about how your company is doing both now and as related to the past. Financials usually include the balance sheet, the income statement and the statement of cash flow. All three of these components provide very different statistics and analysis of the business operations and when combined together with auditor notes and review, can provide the underwriter with some sound information about the business insurability, commitment to loss control programs and the ability to pay premiums.
Back to top - Is a youthful driver allowed to drive a company vehicle?A youthful driver (under the age of 22) must have at least 2 years of licensed driving experience operating the types of vehicles scheduled with like cargo and must also meet the carrier’s standard acceptable driver status. A youthful driver questionnaire must also be submitted to the carrier. See the Products and Services/Applications and Forms area for a copy of the questionnaire.
Back to top - Should we notify Telcom when we purchase a new vehicle?Yes, you should notify Telcom as soon as possible of any vehicle change activity such as adding and deleting vehicles or additions of special equipment to existing vehicles so Telcom will be able to maintain an accurate vehicle schedule. There are also several states that require that their department of motor vehicles be notified directly (electronically) from the insurance carrier for proof of insurance coverage. If a notification is not received this may result in a suspension of the vehicle’s registration.
Back to top - When we hire a subcontractor to do work for us what limits of insurance should we require the subcontractor to carry?Although it is not a “requirement”, Telcom Insurance Group recommends that all subcontractors that you hire carry the same standard limits of liability coverage that is offered through the Telcom Insurance Group “TelePak” program. These standard limits are as follows:
General Liability - $1,000,000 Each Occurrence, $2,000,000 General Aggregate, $1,000,000 Prods/Comp. Ops. Aggregate; Automobile Liability - $1,000,000 Each Accident; Employers Benefit Liability - $1,000,000 Each Claim/Aggregate; Workers Compensation/Employers Liability - $500,000 Bodily Injury by Each Accident, $500,000 Bodily Injury by Disease/Policy Limit, $500,000 Bodily Injury by Disease/Each Employee. Telcom Insurance Group also strongly recommends that you hire only those subcontractors who can show proof of workers compensation coverage. To confirm this coverage your company should require that all subcontractors submit to you a certificate of insurance with active coverage before starting any work.
Back to top - NEW: Did you know that broadened pollution liability for covered autos is available?Beginning in 2008, Telcom Account Executives may be asking you a new question when you go over your renewal data information based on an available enhancement to the auto pollution coverage through our insurance partner Great American Insurance Company. The available endorsement broadens the pollution liability for covered autos when attached to your auto policy. We recognize that often in the scope of doing your business it may be necessary to transport fuel which could create a potential exposure in the event of an accidental spill. When this pollution liability endorsement is requested you will have coverage at no extra premium charge for up to 50 gallons of fuel you may be transporting. There will be a small premium charge for 50-75 gallons and special consideration on a case by case basis for greater than 75 gallons. If you would like to request this auto endorsement or have questions about how it may apply to your operations please contact one of the Telcom staff to assist you.
Back to top - Does Telcom Insurance Group provide bonds? If so what information will I need to provide to obtain a bond?A bond application will need to be completed and also a copy of your company’s most recent audited financial statement will need to be submitted. We would also like to see a copy of your contract listing the bond requirements. Most bonds can be issued within 24 hours; however, some of the larger bonds can take up to a week or more. Please keep this in mind when sending us your request for a bond. Requirements vary by state and type of bond. Please contact the underwriting department for more information regarding bonds.
Back to top - NEW: I received a notice that our company needs to purchase an ERISA Fidelity bond to meet the ERISA requirements for our retirement plan. What is an ERISA Fidelity bond and how do I purchase this protection for our company?ERISA (Employee Retirement Income Security Act) is designed to protect those entitled to pensions and benefits and to assure they are able to collect them. ERISA requires every qualified retirement plan to be covered by a fidelity bond to reimburse the plan for losses resulting from mishandling or misappropriate use of plan assets by your employees or the plan's fiduciaries. The bond must cover 10% of the plan assets up to a maximum of $500,000.
If you participate in the Telcom captive program with Great American and have purchased crime coverage you will be in compliance with ERISA as long as the employee theft limit equals 10% of all plan assets up to $500,000. If you need higher limits due to the size of your plan assets, we can write an excess crime policy.
Note: Please do not confuse a fidelity bond with fiduciary liability. Many fiduciaries may think the mandated Fidelity bonds will protect their personal assets, but it does not. The fidelity bond only protects the plan from loss due to dishonest acts of those who handle the plan assets while fiduciary liability protects the personal assets of the fiduciary due to allegations of breach of fiduciary duties and certain administrative errors and omissions.
Back to top - What information do you need to obtain a Property and Casualty quote?To expedite the quoting process, we will need the following information before we can offer you a quote:
• Complete the Quote Workbook (please note multiple tabs) found in the Products & Services/Applications and Forms section of our website or send us the equivalent data in any other format.
• Please provide your latest audited financial statement. It will be used only to underwrite your account and the information will be treated as confidential (please see our Privacy Statement which contains our pledge on this matter).
Please provide any loss or experience runs that you may have from your current insurer for all lines of business for the past 5 years.
Back to top - What information do you need to obtain a Directors and Officers Liability quote?We can offer you a quick premium indication by completing the short “Premium Indication” form along with a copy of your current audited financials. The Premium Indication form can be found in the Products & Services/Applications and Forms section of our website. If you decide to bind coverage based on the premium indications, we will need a fully completed and signed Directors and Officers Liability application along with any other requested underwriting information prior to binding.
If you need any help completing the application or have questions, please contact Tisa Smith at extension 1083.
Back to top - Are Directors and Officers covered when they are sitting on an Outside Board?Some companies often ask their Directors to contribute their time and talents to community activities, including service as directors, officers, or other leaders of nonprofit and for-profit organizations. Most Directors and Officers Liability policies extend coverage in situations where the Company and its Board has specifically requested a Director or Officer to sit on the board of another Outside Entity. Coverage is normally extended to non-profit organizations, 501 (c) (3); but coverage is not an automatic extension for a for-profit board. This coverage may be available with prior underwriter approval and additional premium. NOTE: It’s important to know that the coverage extension for Outside Directorship Liability only applies to the individual and is only excess of any insurance available from the Outside Entity.
Back to top - When an employee is driving his own vehicle on company business which policy responds if there is an accident?Many employees will sometimes take their own vehicle to a job site or use their own vehicles to run errands for work. Many people think that by having a symbol “1” for liability coverage, their employees are covered no matter what vehicle they use on company business, but that’s not true. Symbol 1 will cover you as the employer against the nonownership exposure, but it does not protect the employee while using his or her auto on company business. In the event of a claim, the employee’s personal auto policy will be the only coverage he/she has. Liability protection can be extended to the employee through the Employees as Insureds Endorsement (CA9933). This is a standard endorsement on all Telcom policies. Liability coverage under this endorsement is excess over any other valid and collectible insurance.
NOTE: The Employees as Insured Endorsement (CA9933) DOES NOT provide any physical damage coverage for the employee owned vehicle.
Back to top - Should we notify Telcom if we acquire or purchase a new property?Just as with your auto coverage, you should notify Telcom as soon as possible after a new purchase or acquisition, such as a building, tower, or contractor’s or electronic data processing equipment. The Telcom “Telepak” program does provide a 90 day extension of coverage for newly acquired property, however there are certain sub limits. The best way to assure that your property and equipment schedules are up to date in the event of a loss is to notify Telcom as soon a possible of any property changes.
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