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Pallet C e nt ral • Ma rch -Ap r il 2 0 26 37 Paul Quandt, CIC, CFPS, CLCS, is a senior commercial lines insurance executive with global insurance brokerage HUB International, serving as Oregon region and Northwest leader of its Forest Products Division. With more than 100 years of combined experience serving the forest products industry, Paul and his team are well-versed in the unique environment and needs of our industry. • Whether policies are occurrence- based or claims-made. Occurrence- based means incidents must have happened within the policy term. ese policies provide longer-term security but higher initial costs. Claims-made coverage only applies to claims made when the policy was active and after a specific retroactive date. Premiums are initially lower, and the policy is more flexible. Still, maintaining coverage for incidents reported after the policy's cancellation can be expensive. • Also important are common sub- limits and exclusions for specific scenarios. ese can include intentional misconduct, damage to owned property, or contract breaches. 4. Be Aware Of (And Protected Against) Worsening Exposures Claim frequency and severity are on the rise in cyber and environmental liability. It's crucial to stay on top of the ways liability policies are evolving in response. Multiple policy types now cover cyber liability (e.g., cyber vs. cybercrime) in light of escalating threats that are increasingly difficult to manage. Environmental policies may include third- and first-party coverages for aspects such as property cleanup and crisis management, and before coverage applies, pollutant levels may have to reach specific thresholds. What makes a difference in the effective management of liability claims is integrating risk awareness and preparedness into the culture. Following these measures will prove an invaluable assist.

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