Account Manager at HNI
Top o’ the morning to ya! While you may know us best for our work with other industries, we are also proud to count several leprechauns among our clients.
You can’t just count on the luck o’ the Irish to protect your business. Here are 5 essential risk management practices that we recommend to all our little friends in green:
1) Business interruption insurance… for when captured by humans.
Legend has it that if captured, the leprechaun has the magical power to grant three wishes in exchange for their freedom. This can take some time, so a business interruption policy ensures any lost revenue and continuing operating expenses are covered while they’re waiting.
2) Employment practices liability coverage… for unwanted pinching and kissing.
When people are going around wearing “kiss me I’m Irish" shirts and pinching co-workers who aren’t wearing green, you can get into some hot water pretty fast.
EPLI can aid our leprechaun friends with legal costs resulting from any claims of sexual harassment or wrongful infliction of emotional distress.
3) Protection against copyright infringement…for shameless advertising.
One of the biggest wicked problems facing leprechauns is copyright infringement. People are constantly ripping them off for commercial benefit – take Lucky Charms or the Fighting Irish for example.
Protecting intellectual property – especially in such a risky business - can be tricky. This may be covered under a general liability policy as an “advertising injury,” or they may want to pursue a more specialized coverage for this risk.
4) Specie Insurance… for pots of gold.
It’s not often that we get requests to insure large amount of precious metals. Pots of gold, however, actually have their own class of insurance called specie coverage. In addition to leprechauns, this is typically used by producers and/or dealers of pearls, precious metals, and gems, as well as manufacturers that use precious metals in their manufacturing processes.
5) An attorney specializing in contract law… for all of those riddles.
Leprechauns are mischief makers who love nothing more than a good riddle. But one slip of the tongue and they reveal the location of their hidden treasure.
Leprechauns need a good understanding of contract terms and a high powered attorney to ensure they’re not taking on excessive financial responsibility with unfairly burdensome conditions.
What else does a leprechaun need to manage his risk?
Managing risk for mythical creatures is tough stuff – but someone’s got to do it. What risk management tips do you have to share this St. Patty’s Day? Any exposures we missed?