Masonry Magazine June 1984 Page. 25
Insurance
Insights...
Transferring the risk
Your business is exposed daily to a wide variety of risks. In some cases, this means insurance. In others it means transferring the risk by making another person or firm responsible for potential losses.
There are several methods of "non-insurance" risk transfer. For example, a retailer may order goods from suppliers in small quantities more often than building up a large inventory, thus transferring the risk of inventory loss to the suppliers. Or a firm may transfer the loss exposure of owning and maintaining vehicles by hiring a delivery service.
The "hold harmless" agreement is another widespread form of non-insurance risk transfer by which one party agrees to accept the responsibility for specific types of losses. For instance, a landlord may insert a clause in his lease that states each tenant will "hold the landlord harmless and indemnify him for any loss, damage, injury or claim arising out of the condition of the leased premises, unless caused solely by the fault of the landlord." This provision shifts responsibility for losses growing out of the lease to the tenant, unless the landlord is entirely to blame.
-Insurance and Risk Management Newsletter, Commercial Insurance Service, Inc., Charleston, W.Va.
STONE PANELS
continued from page 9
• Out-of-sequency material drawings featuring greasy thumbprints and incorrect dimensions.
• Missing anchorage cut-outs and hardware.
• Mixed-up component numbering.
• Out-of-plumb structural members to which only God or perhaps one of the apostles could fasten pre-cut stone panels.
• Panels assigned by a maniac shipping clerk as ballast on a slow boat to China never again to be seen by occidental eyes.
• A daily line-up of people, some equipped with slide rules and high foreheads, others wearing three-piece suits and a look of practiced distaste, to assure everyone in sight that the universe is not unfolding as it should and the whole mess is to be blamed on and charged to the mason contractor, who is by now facing certain bankruptcy and has secret plans to be measured for a straight-jacket before he ever again bids another stone job.
In summary, let me say the building stone industry and the mason contractor can benefit from ongoing and extensive liaison at the national, regional, local and individual level. I think that is a basic objective which should be marked by an aggressive marketing strategy that would profile the materials and their installer as a team.
I am absolutely convinced any joint marketing effort should center on a communications package that will, apart from soliciting business, ensure a steady exchange of technical and operational information between natural material suppliers. the professional community, and mason contractors.
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MASONRY-MAY/JUNE, 1984 25