R&R Insurance Blog

Our hearts are heavy with yet another active shooter event in Milwaukee at Azana Spa in Brookfield, WI. Our thoughts and prayers go out to the families of the victims, and our wishes for a speedy recovery for the survivors.

Unfortunately, violent attacks are becoming more prevalent in our schools and workplaces.  Being able to protect yourself begins with having a good sense of what is going on around you - scope out the situation and listen to your instincts. 

This DHS video "Run Hide Fight" gives excellent detail on how to deal with an onsite violent attack.

In the event that something should happen, first look to escape.  Hopefully by having a sense of your surroundings you have also scoped out your exits.  Next option is to barricade yourself or take cover.  Be resourceful - there is a difference between a solid barrier (i.e. a concrete wall) and hiding behind a chair or table.  This is real life - not the movies!  Once you safely exit the building, or remove yourself from the situation, do not let down your guard!  What if the shooter returns?

While these events are extremely rare and you hope to never experience, they do happen and they are something that we must be prepared to respond to.

Wisconsin Businesses wanting more information on disaster planning or business continuation coverage, please contact Rick Kalscheuer

Catalytic converters can be stolen in less than a minute. The current prices for precious metals are fueling this demand and converters contain precious metals. Rhodium sells for roughly $9,500 an ounce, while platinum pays at about $2,000. If sold for scrap, stolen catalytic converters go for around $100 to $150.

What Thieves Look For
Vehicles that sit higher from the ground, such as SUVs, trucks and pick-ups are the most vulnerable to catalytic converter theft because thieves can slide underneath without having to jack up the vehicle. Corporate fleets are more vulnerable because thieves can hit multiple vehicles in a single location.

Preventing Catalytic Converter Theft 

1. Have the converter clamped or secured to the vehicle's frame. A muffler shop can do this for you.
2. Always park in well-lighted areas.
3. Park within a fenced area that’s busy during the day and secured at night.
4. Vehicle security systems set to trigger with the slightest motion.
5. Check out the different types of catalytic converter theft deterrent systems at your local auto parts store or on the Internet. 

Confirm with your broker that you are covered in case of a catalytic converter theft or any other metal theft affecting your business. For more information on protecting your business, contact knowledgebroker Rick Kalscheuer. 

Metal Thefts Continue to Hit Businesses Hard

Although it has been used in deals for some time, M&A insurance has not entered the "mainstream" in the Midwest for middle market acquisitions for a few reasons:

1. It is a relatively new concept to sellers and strategic buyers
2. Premium "sticker shock" has had an effect on potential buyers
3. The abundance of buyers has allowed sellers more leverage in negotiating terms

An article from Financier.com provides an overview of the basics and successful deal strategies when it comes to choosing M&A insurance.

M&A insurance is one of the insurance solutions for M&A transactions. Often the insurance broker is the last partner to learn of a transaction. The sooner you make your broker partner aware of a pending sales or acquisition the better they can discuss and develop a plan of action that can get the deal done.

For more information on how R&R Insurance can help you through an acquistion process, please contact knowledgebroker Rick Kalscheuer.

Corporate Report Wisconsin published an article indicating an epidemic rise in metal theft. According to the National Insurance Crime Bureau, nationwide insurance claims for metal theft increased 81% over the last two years.

The article Precious Metal, is a real eye-opener for any manufacturer or business that handles metal. The statistics are staggering. The very last paragraph shares what a business can do to help prevent this type of theft. Here is a recap of that paragraph taken directly from the article - credit goes to Corporate Report Wisconsin and freelance writer Lisa Schmelz for the helpful information:

What You Can Do (to prevent a theft of precious metal)
To prevent metal theft at your business, secure, store or lock up anything with scrap metal value. Increased lighting and surveillance cameras can also deter thefts. Catalytic converters can be "clamped" and outdoor HVAC units can be caged. For industry-specific information visit the Center for Problem Oriented Policing.

 Preventing Catalytic Converter Theft

There are many challenges when it comes to companies going through acquisitions.  In particular when it comes to reporting out to shareholders and how closely all involved need to monitor expenses.  A prime example came with the Willis Group Holdings' 2008 acquisition of Hib, Rogal & Hobbs (HRH).  Willis is looking for an upswing in the second half of 2012 as they move away from the HRH internal accounting scandal and integration issues as a result of the acquisition.

Willis is a good competitor in their market.  I have been working with companies transitioning through mergers and acquisitions - below are some tips I have picked up along the way:

• It is extremely hard to mold the culture of an acquired company into your culture
• Competition for mid-market property and casualty accounts is fierce
• Customers, rightly, expect more expertise and service.  The competitive market has provided buyers with more service with no increase in broker/agent compensation.
• Service models are the key to retaining existing accounts and growing the business by winning new customers
• It has been challenging to serve two masters - the Customer and Wall Street

For more information on how myself and R&R Insurance can help you through an acquistion process, please visit our website.