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Significant issues facing PDI from a risk management standpoint are as follows: Please Note which ones are for Commercial Liability (CL) and Which ones are
Significant issues facing PDI from a risk management standpoint are as follows:
Please Note which ones are for Commercial Liability (CL) and Which ones are for Property (P). If both are involved please signify with (B)
- PDI is facing increasing Workers Compensation claims. The majority of these claims are coming from the manufacturing plant and seem to involve lifting injuries and cuts/abrasions by production equipment.
- There is also an increase in the pressure vessel return rate and/or repair shortly after purchase requests. PDI Engineering is blaming this on the equipment fabrication unit but they are saying it's due to faulty design work.
- PDI is currently encountering frequent errors in the calculation of their premium billing. The condition started about a year ago and seems to be worsening over time. The current broker in slow to respond to questions regarding invoices, citing "computer problems" as the primary issue.
- PDI has never had a thorough evaluation of their risk exposures. For all management knows, there could be major areas of exposure for which there is no insurance. The insurance program has been traditionally handled by the CFO, and she has been too busy to launch a major inquiry.
- PDI had a recent lawsuit regarding a wrongful dismissal, case but the matter was settled out of court.
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