Hi all,
Tamika, I sent this to some of the airport counterparts yesterday. I made this spreadsheet last week and shared it with my leadership. It breaks down how BNA policies will currently
respond to the pandemic. Feel free to edit it for Chi-town. I attached the PDF version to make it easier to view.
Unfortunately, it appears most property policies will not be triggered for business interruption due to no property damage. However, there may be an opportunity under communicable
diseases. I am filing two FEMA claims tomorrow, pandemic and tornado, to be in line for relief. The way FEMA works is mostly reimbursable and uninsurable losses. They will pay percentages. So, deductibles are considered an uninsured risk and eligible.
On the other hand, there has been no determination yet regarding the loss of revenue because the bill has not been finalized yet for the pandemic by lawmakers. Expenses associated
with the pandemic will for sure be considered (i.e., purchasing laptops for employees to work at home, additional services or overtime associated with additional cleaning and decontamination).
Tomorrow, I am making a chart for BNA for both the tornado and pandemic claims and what the roadmap looks like. I will send it to all of you as soon as I get it done.
One critical aspect you should each be aware of immediately is to begin
delineating expenses into a separate bill code for the pandemic. Also, those expenses and nonexempt hours directly related to the pandemic should be captured or carved out in some way because FEMA will want to see what is normal and what is pandemic. I had
out Finance team create a pandemic bill code and procurement is tracking goods and services through it, and HR/payroll is tracking nonexempt hours (straight time and OT) through it as well.
Be well. Be safe! My best to each of you!
Be magnificent,
Edward K. McDonald III, MSc, BBA, RIMS-CRMP, C.M., A.C.E.
Assistant Vice President
Office of Risk Management
Office: 615-275-1715
Cell: 615-948-9402
One Terminal Drive, Ste. 501
Nashville, Tennessee 37214
FLYNASHVILLE.COM
From: Tamika Puckett <Tamika.Puckett@cityofchicago.org>
Sent: Wednesday, March 25, 2020 4:49 PM
To: McDonald, Edward <Edward.McDonald@flynashville.com>; Porter, Jimmy <James.Porter@portofportland.com>; 'cgilbert@dfwairport.com' <cgilbert@dfwairport.com>
Subject: Insurance Recovery Options
CAUTION: This email originated from outside your organization. Exercise caution when opening attachments or clicking links, especially from unknown senders.
Hi Guys!
I hope you all are faring well in these crazy times. I know you are super busy...aren't we all. It just hit me that I am surrounded by such intelligent professionals who I can use
as a resource.
Are you seeking any business interruption coverage resulting from this occurrence. For example, concessionaires are closing or reducing hours; this could/will impact the MAGs (depending
on how the contracts are written). Is the loss of income potentially recoverable under the property policy? Are you guys putting carriers on notice? Also, are you seeking recovery for income losses related to the halt of international travel? Anything I’m
missing that I could seek coverage for?
I think our policy has a small sublimit for Communicable Disease and a 48 hr waiting period for Civil Authority (Midway closure). I have my Insurance RM looking into it; wanted to
see what you guys were doing. Let me know.
Thanks for your help!!!
Tamika
_______________________________
Tamika Burgos Puckett
Chief Risk Officer
City of Chicago – Office of the Mayor
121 North LaSalle Street | City Hall - Room 509
Chicago, Illinois 60602
(312) 744-5201 (office) | (312) 720-6247 (cell)
www.chicago.gov |
tamika.puckett@cityofchicago.org
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