“There are many new faces in our offices lately.  This isn’t due to high turnover, but to growth.  As our firm continues to expand, we are able to add more experienced and high caliber people to our ranks.  It’s a very exciting time for our company and we’re thrilled with the opportunity we have to work with Frank.  He comes highly recommended and we know we’ve found an asset in him,” said Terry Buckner, President and CEO of The Buckner Company.

Since January, 2012, The Buckner Company has increased their employee count by ten percent.  Utah’s job market is one of the best in the nation.  According to the U.S. Bureau of Labor Statistics, Utah’s unemployment rate currently sits at 5.8 percent, compared to the United States unemployment rate of 8.2 percent.  Utah has added more than 27,000 new jobs in the past year.

The Buckner Company, headquartered in Salt Lake City, Utah, occupies four offices in two states.  Despite the instability of the current economic state, the firm continues to grow and look for acquisition opportunities throughout the West.  Diversification of the niche markets they cater to has allowed The Buckner Company to continue to successfully expand its operations in recent months.

Founded in 1936 in Ogden, Utah, The Buckner Company has been serving the insurance needs of the West with honesty, integrity, and superior service for more than 75 years. Today, The Buckner Company stands out from their competition in their expertise and knowledge of the construction, agriculture, and commercial businesses they service. In addition to providing expertise in these fields, The Buckner Company also offers specialty niche market services, including personal homeowner and auto insurance, employee benefits, trucking and transportation insurance, and surety bonding.  Visit www.buckner.com for more information or follow their blog at http://blog.buckner.com.

In the past, owners of homeowner’s association projects seeking answers about insurance coverage were only met with a lot of confusion and misinformation. The main issue was that insurance coverage was not determined by a broad insurance policy, but in most cases, was in fact, dictated by the governing documents. A standard did not exist for governing documents when it came to common insurance requirements. This created ambiguity, coverage gaps, or duplication of coverage at the expense of owners and the associations. It was at the time of a claim that unit owners faced the real consequences of this flawed process.

Many lenders required unit owners to insure the entire amount of the loan to guarantee sufficient insurance coverage was in place. In most cases the insurance was already provided by the homeowner association’s master policy.  Unfortunately, the governing documents did not clearly support this. This resulted in a lot of wasted time and more importantly, money.

SB167 brings excitement and certainty for HOA unit owners, managers, and boards.  The bill clarifies what the insurance policy has to provide under both unit owner’s individual policy and the HOA’s master policy.  The bill also determines how claims are handled and who is responsible for the deductible.

SB167 took effect on July 1, 2011. Any association subject to the new bill must comply with the insurance section at the time of their insurance policy renewal date. Associations also have the right to opt in sooner if they choose.

The bill mandates that the homeowner’s association maintain property insurance on the physical structures of the project, including the units, for an amount not less than 100% of the full replacement cost of the insured property at the time of purchase and at renewal.  This includes improvements and betterments installed by unit owners to an individual unit or to a limited common area including floor coverings, cabinets, light fixtures, electrical fixtures, heating or plumbing fixtures, paint, wall coverings, windows and any other item that is permanently part of or affixed to a unit or to a common unit. Each unit owner is an insured person under the association property insurance policy.

The association’s master policy provides primary insurance coverage. The unit owner’s individual policy commonly known as an HO6 policy applies to and covers the policy deductible for the HOA’s master policy.  In the event of a loss, when multiple units sustain damage, the association’s master policy deductible is shared by the affected unit owners in a proportionate amount based on the extent of damage sustained to each unit.  This will eliminate arguments as to who is at fault and ensures that the claims process will be fair, consistent and equitable.

It is highly recommended that unit owner purchase an HO6 type policy with building property coverage commonly known as “Coverage A” and “Loss Assessment” equal to the amount of the master policy deductible. They should also discuss a higher limit of “Loss Assessment” with their personal insurance agent to determine the right limit for you. Loss assessment provides valuable protection for the unit owner for certain insurance claims but could also pay for other assessments that the HOA has to pass due to unforeseen events.  The HO6 policy also  protects the unit owner from loss of use of the unit, loss of rents, personal liability, the personal belongings and other specialty items such jewelry, art, money etc.

In the event the damage does not amount to the association’s deductible, the unit owners HO6 policy would be primary coverage.

If the unit the owner fails to pay the share of the deductible amount of the association master policy within 30 days of substantial completion of the repairs to the unit, the association may levy an assessment against the unit owner for that amount and can subsequently lien to enforce payment.

The HOA must give reasonable notice to unit owners in the event of any changes to the master association deductible.  Failure to do so could leave an association responsible for the amount of increase in a deductible amount.

Do not assume your homeowner’s association is subject to SB167 without consulting your attorney or property manager.

Béat Koszinowski, CIC, CIRMS

A Certified Insurance Counselor and Community Insurance & Risk Management Specialist at The Buckner Company in Salt Lake City.  His expertise is to advise homeowners associations, mangers and attorneys of their insurance and risk managements needs. The Buckner Company has been providing specialized insurance and risk management programs for 75 years.

Having previously worked directly for the marketing arm of a national insurance company, the three insurance agents are excited about the opportunity of offering more options to their prospective clients.  The Buckner Company is an independent regional insurance brokerage that works with dozens of insurance companies, assuring that their clients are presented with more choices and excellent pricing.

Loftin will work out of the firm’s Salt Lake City, Utah office, while Stucki and Zabriskie will be based in the Ogden, Utah office.

“This is what successful business is all about—partnering with energetic, educated, and experienced associates who love what they do and have proven and successful track records.  Ryan, Jeremy, and Micah are undoubtedly going to fit in well with our team.  Their commitment to providing the highest level of insurance service and expertise to our clients is consistent with the way we do business,” said Buckner.

Loftin, Stucki, and Zabriskie have worked with commercial clients from a variety of backgrounds—ranging from contractors, oil and gas companies, auto dealers, farm equipment retailers, building material suppliers, to other retail and restaurant businesses.  They are experts in helping businesses purchase insurance policies that are tailored specifically to their needs.

The Buckner Company, headquartered in Salt Lake City, Utah, occupies four offices in two states.  Despite the instability of the current economic state, the firm continues to grow and look for acquisition opportunities throughout the West.  Diversification of the niche markets they cater to has allowed The Buckner Company to continue to successfully expand its operations.  Hiring fresh talent such as Loftin, Stucki, and Zabriskie assures an even brighter future for the agency.

Founded in 1936 in Ogden, Utah, The Buckner Company has been serving the insurance needs of the West with honesty, integrity, and superior service for more than 75 years. Today, The Buckner Company stands out from their competition in their expertise and knowledge of the construction, agriculture, and commercial businesses they service. In addition to providing expertise in these fields, The Buckner Company also offers specialty niche market services, including personal homeowner and auto insurance, employee benefits, trucking and transportation insurance, and surety bonding.  Visit www.buckner.com for more information or follow their blog at http://blog.buckner.com.

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Need full-time Corporate Controller in our Salt Lake City office to be responsible for owning the Accounting/Finance and Control aspects of operations and being accountable for leading and managing the Accounting & Finance department, ensuring the team functions in an effective, efficient, and ethical manner.  Applicant should have 7-10 years experience in Accounting with at least 3 years as a Controller.  Must have a BA or BS in Accounting.  A MSA, MBA or CPA are preferred.  Proficient in Microsoft Office.  Must have exceptional interpersonal, communication, analytical and problem solving skills.  Must be a self-starter and able to multi-task several projects at once.

Competitive benefits packages available.  To apply, please send cover letter and resume to HR@Buckner.com.

To see our other job opportunities, see our website.

Justin Robinson, CIC

Account Executive

The Buckner Company

An owner of a construction company was working in a trench when it gave way and caved in on him. He was buried from the chest down and in critical condition. Fortunately, he is alive and well. The lessons he learned through this experience are important and should be shared.

The owner did not elect work comp coverage so he turned to his health insurance provider. When he submitted the claims to his provider, coverage was denied based on the fact that it was a work-related injury.

This was a very unfortunate and tragic event that potentially could have been avoided with better safety procedures in place. Regardless of whether the accident could have been avoided, one thing is for sure—coverage would have been granted through workers compensation or his health care provider, had he taken the necessary steps.

The question I am frequently asked when I discuss workers compensation insurance with my clients is:

“Why would I, as one of the owners, officers, partners, or members of the company, want to pay for workers compensation insurance on myself when I would never file a claim? Besides, I have health insurance.”

Fallacy.  Not all health insurance policies will cover job-related accidents. In fact, most health insurance policies exclude them unless a special rider is put in place.

This is a topic that I would like to address as it greatly concerns me.

An owner, officer, partner, or member of a company has the option of being included or excluded from workers compensation insurance.

Question: “Why would I want to exclude myself from coverage?”

Answer: SAVINGS.

LLC Members, Partners, and Sole Proprietors:

Are automatically excluded from the workers compensation coverage, but by written request may elect to be included. Each member, partner, and/or sole proprietor that elects coverage will be rated on a stated amount of $38,064 in payroll regardless of the amount of money paid to them by the company (Utah stated payroll effective 12/01/2010).

Officers of a Corporation:

Are automatically included in the workers compensation coverage, but, by written request, may elect to be excluded. Each officer that does not opt out of coverage is subject to a minimum payroll of $38,064 and a maximum payroll $152,256 regardless of the amount of money paid to the officer by the company (Utah stated payroll effective 12/01/2010).

No matter what the savings is, I recommend that all owners, officers, partners, and members of a company elect to be included in the workers compensation coverage; unless the following steps have been taken to replace it:

1. Health Insurance Policy with a rider that covers job related injuries. Again, don’t assume your health insurance policy automatically covers you for on the job injuries.

2. Disability Income Policy which will provide reimbursement for lost income from a job related injury where you are unable to resume any sort of work duties.

3. Life Insurance Policy that equals the amount of the death benefit offered through the workers compensation policy.

Please contact me with any questions regarding your workers compensation policy.

Please be safe out there, don’t take shortcuts, know your insurance coverage, and remember every decision that we make affects not only ourselves but those around us.

The Buckner Company has placed much emphasis on expanding their Employee Benefits division during recent years.  With changes in healthcare reform, the firm believes that individuals and businesses have more need than ever before to have access to an informed healthcare insurance agent who can help them in making health insurance coverage decisions.

“We are extremely pleased to have Russ join our firm.  He has previously worked on the insurance carrier side of the equation—and we excited for all that he brings to the table as far as his wide scope of knowledge and experience.  We welcome Russ and know that he will do well in his future endeavors with us,” said Terry Buckner, President and CEO of The Buckner Company.

Trujillo spent more than a decade working for two of the largest Utah health insurance carriers.  “I am very happy to be working with such a reputable group as The Buckner Company.  Selling benefits packages and servicing accounts in the consultant role is a new adventure for me, however, I look forward to this challenge,” said Trujillo.

Founded in Ogden in 1936, The Buckner Company has been serving the insurance needs of Utah and the surrounding states with honesty, integrity, and superior service for 75 years. Today, as one of the most prominent insurance brokerages in the West, The Buckner Company stands out from their competition in their expertise and knowledge of the construction and commercial businesses they service. In addition to providing their expertise in these fields, The Buckner Company also offers specialty niche market services, personal insurance, employee benefits, and surety bonding. Visit www.buckner.com for more information or follow their blog at http://blog.buckner.com.

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Workers’ Compensation laws vary from state to state.  The goal is to help your employee return to work at full productively if possible.  If returning to work at full productivity is not an option, the second goal is  to help the employee get to what is known as maximum medical improvement (MMI).  The Workers’ Compensation system obligates the employer to be responsible for all medical costs for work-related injuries.  This can include: doctor visits, surgical care, hospital care, nursing services, medicine, and durable medical equipment.  The only limit is that these costs be reasonable and necessary.

As the responsible party, the employer has the right to question whether something is reasonable and necessary, but few employers take advantage of this right.

You, the employer, should question these areas.  Remember, it is your money:

1. Diagnostic Testing: Watch out for duplicate testing.  Sometimes a repeat MRI is unnecessary, because if the MRI is for a different part of the body than what was injured, you might be paying for something unrelated to a workers’ compensation injury.
2. Yoga, Massage and Aqua Therapy: These sound more like spa treatments than medically necessary procedures.  I would strongly advise that you request a second opinion regarding these treatments.
3. Special Devices: When employees suffer serious injury they often need specialized equipment, when a wheelchair is needed there are huge cost  variables such as motorized vs non-motorized. If the employee is permanently confined to the chair, motorized might be reasonable. These situations should be reviewed on a case by case basis.
4. Home Improvements: When ramps are put in because of a wheelchair we can understand this.  But when a doctor is prescribing a new pillow top mattress, a hot tub, or home gym equipment . . . you should express some concern to the adjuster and insurance company. Physical therapy should be offered at a reputable physical therapy facility.
5. Attendant Care at Home: Sometimes a seriously injured employee needs assistance at home.  The nurse case manager needs to work closely with the primary medical care provider to establish what is needed in the way of home assistance.  When the injured employee needs bandage changes or toilet assistance this may be done by a non-medical person approved by the work comp adjuster.  Cooking and laundry, etc. may not be medically necessary.

The key to remember is workers’ compensation dollars are your dollars, you ultimately are the one paying the claims.  Your premiums are a reflection of the cost of your claims.

What began as a modest one-man agency in Ogden, Utah in 1936, has gone on to become one of the largest and fastest-growing insurance brokerage firms in the United States.  Terry Buckner, the grandson of the founder, E.R. Buckner, is currently the President and CEO.  Under his watch, the firm has more than quadrupled its employee count and opened a second and third location.

And this is just the beginning.  Buckner has plans up his sleeve to continue opening satellite offices throughout the Intermountain West.  Recent growth in the Idaho market has proven more successful than anticipated.  Further expansion in Idaho is in the works.

As The Buckner Company nears its 75th anniversary, Buckner, reminisces on his grandfather’s work ethic.  “I don’t think my Grandpa had a clue that his humble business of selling insurance would grow to become what it is today.  He’d be astounded to see that two generations later, this business is thriving.  I have no doubt that our success has been a direct result of the values of integrity and hard work that he practiced as the foundation of this business was built.  These are values that we continue to embrace today.”

Buckner has a knack for finding talented insurance specialists who think outside the box.  The Buckner Company has gained a solid reputation as a brokerage that offers its clients excellent customer service and customized insurance policies that meet the needs of their businesses and families.

The Buckner Company has been serving the insurance needs of the West with honesty, integrity, and superior service for 75 years. Today, The Buckner Company stands out from their competition in their expertise and knowledge of the construction, agriculture and commercial businesses they service. In addition to providing their expertise in these fields, The Buckner Company also offers specialty niche market services, including personal homeowner and auto insurance, employee benefits, trucking and transportation insurance and surety bonding. Visit www.buckner.com for more information or follow their blog at http://blog.buckner.com.

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For Immediate Release: 31 October 2011

Contact: Randah Griffiths Urbina

Director of Corporate Marketing

6550 S. Millrock Drive, Ste 300

Salt Lake City, UT 84121

Phone: 801.937.6700

E-mail: rurbina@buckner.com

Web: www.buckner.com