John Gipson Insurance Agency, LLC dba The Insurance Center, Inc.

06/15/2019

Questions about your cyber liability exposures?

03/24/2016

Pollution losses tend to be a severity versus frequency issue...

Most pollution policies do not exclude Acts of God...Tornados, Forest Fires, Hurricanes etc...

Natural Disaster Season and pollution insurance go together like April showers that bring May flowers...

Under federal law, the real estate owner is ultimately responsible for the environmental condition of their property...

01/04/2016

DEFINITION OF POLLUTANT:

The Environmental Strategist definition of a pollutant is a material, substance or product that gets introduced into an environment for other than its intended use or purpose.

Applying this definition, how many exposures come to mind within your work environment? Can you afford to self insure the exposure or should you transfer the exposure via an insurance policy? Insurance is simply a way to finance a loss. Does it make fiscal sense to transfer your environmental exposures for fractions of a cent on the dollar or wait until an environmental loss occurs and spend one hundred cents on the dollar out of pocket.? You could be held accountable for any resulting environmental damage including but not limited to cleanup, defense costs, third party bodily injury, third party property damage, third party business income, claims management and more.

Please contact me and I will be glad to visit with you concerning your environmental exposures and coverages available.

Surety Bond markets are also available, Bid, Performance, Payment and Maintaience bonds.

Direct Line: 405 928 7539
Cell: 405 202 9013
[email protected]

12/23/2015

MERRY CHRISTMAS...!

07/28/2015

SURETY BONDS:

Surety bonds, which have long been considered fundamental to public construction projects, have become common place in private construction projects as well. Lenders are increasingly concerned about projects being abandoned midstream and many are insisting on surety bonds as a means to protect their interests.

I would be glad to visit with you concerning your bonding needs. I have an established working relationship with many surety markets.

John Gipson, [email protected]
Direct line: (405) 928-7539

07/02/2015

M**H LABS..Environmental Hazard

M**h labs are a huge environmental hazard that can impact each and every one of us. M**h labs can be found in places such as homes, trailer parks, apartments, automobiles, hotel rooms, commercial buildings, or as the US Forest Service website on m**h labs points out, mother nature.

From the US Forest Service website:

As an environmental hazard, the byproducts of m**h labs contaminate their surroundings with harmful fumes and highly explosive chemical compounds. Abandoned m**h labs are basically time bombs, waiting for the single spark that can ignite the contents of the lab. In the hands of the untrained chemists simultaneously using m**h and working with the flammable chemical components, a working m**h lab is just as unsafe.

Getting rid of a m**h lab is dangerous and expensive. M**h cookers dump battery acid, solvents and other toxic materials into rivers or the ground. Much of the waste is highly flammable and explosive.

* One pound of m**h produces six pounds of toxic waste.
* Even months after m**h labs have been closed, chemical residue still remains.
* The chemicals used in the manufacturing process can be corrosive, explosive, flammable, toxic, and possibly radioactive.
* Solvent chemicals may be dumped into the ground, sewers, or septic systems. This contaminates the surface water, ground water, and wells.
*Traces of chemicals can pervade the walls, drapes, carpets, and furniture of a laboratory site.

POLLUTION LIABILITY INSURANCE CAN PROTECT YOU AGAINST THE ENVIRONMENTAL EXPOSURE TO M**H LABS.

07/01/2015

Oklahoma Prospects AAU @ OU TEAM SUMMER CAMP, JUNE 2015
Placed 2nd out of 28 teams in tournament in their division.

07/01/2015

Environmental Liability Insurance: THREE MAIN BENEFITS

1) DEFENSE COSTS: Environmental liabilities are relatively new and very litigious. Even if you do nothing wrong you can still get named in a suit and have to expense defense costs i.e. legal fees, environmental investigations.

2) CLAIM MANAGEMENT: All policies come with specialists to assist you in handling a claim. Who is in charge of communications, public relations, emergency response, government compliance, financial management, third party claims for bodily injury, property damage, natural resource damages...?

3) THIRD PARTY LIABILITY: The majority of the time the cost to clean up the environmental problem/s is far less than the associated claims that come in from third parties for bodily injury, property damage and business interruption. You need to look at your client's and neighbors that can be impacted if you or a sub-contractor/vendor cause an environmental loss.

Environmental insurance coverage can be tailored to fit your exposures. Contact me, we can discuss.

[email protected]
Direct Line: (405)928-7539
Cell: (405) 202-9013
www.ticokc.com

"The significant problems we face can not be solved at the same level of thinking we were at when we created them"...Albert Einstein

Welcome to The Insurance Center OK, providing personal & commercial insurance, located in Oklahoma City, OK. Call us for a free quote! (405) 973-1747

06/22/2015

Pollution Exposures For Banks

Due to storm water runoff, v***r intrusion, leaking underground storage tanks, air emissions, sick building syndrome, illegal disposal of waste..., every property transaction a bank gets involved in is taking on an environmental risk.

The tool relied on for making sure one does not get impacted by an environmental liability is the age old "environmental indemnification" contained in the legal documents customers sign.

The big flaw in using "environmental indemnifications" is not considering what the financial assurance strategy is should the customer experience an environmental liability and default on their legal obligation. The fact is, every property deal a bank is involved with and an environmental indemnification is contained in the contract may not be worth much. Environmental insurance is designed to fill this enormous environmental exposure impacting banks.

Example: A bank tool ownership of property due to a foreclosure. The bank did not have pollution insurance coverage in place. Under Federal law the bank will be responsible to pay for defense costs, clean up, third party bodily injury, third party property damage, investigation costs, natural resource damages...

Please contact me at [email protected] and we can discuss.

12/02/2014

FACT: EVERY BUSINESS IS IMPACTED BY ENVIRONMENTAL EXPOSURES.

Is environmental insurance worth the cost? Chuck Swindoll, did a wonderful job offering background to this question. "HOW MUCH DOES IT COST?" "WHAT'S IT WORTH?" THESE TWO QUESTIONS ARE VERY DIFFERENT."

"WORTH" is the usefulness of the object...the benefit, value and importance of the thing purchased. It is the long-lasting return we derive from the item. Environmental losses tend to be a SEVERITY versus FREQUENCY issue. Should a small business experience an environmental loss... what is their financial assurance strategy to address clean up, third party bodily injury, third party property damage, third party business interruption, defense costs, investigation costs, claims management costs, natural resource damages... these are some of the benefits/value/worth offered with an environmental policy.

"COST" is the amount of money it takes to complete a purchase... the insurance premium. "COST" is cold, objective, and even painful. Nor is it necessarily easy to accept. I don't know anyone that likes to pay their insurance premiums. That's where "WORTH" plays a vital role.

The difference between handling our money Wisely or FOOLISHLY is largely determined by the interplay between these two forces, "WORTH" verses "COST". Obviously, we have spent wisely when the cost is eclipsed by the worth. In other words, be environmentally uninformed, self insure and potentially go out of business versus being environmentally informed, transfer your risk and use your environmental knowledge to drive growth and profits in today's business environment.

So is environmental insurance worth the cost? Small businesses account for 98% of the businesses in the United States. The vast majority of small businesses can't afford to self insure their environmental exposures...can your business?

Contact me and I would be glad to review your exposures.

John Gipson
[email protected]
Direct: 405-928-7539

Estrategist

10/31/2014

Alcott Middle School Conference Champions, Grandson Kolby #10

10/31/2014