Miscellaneous
Machine Shop
Medical parts that will be implanted into the body and/or aerospace parts being designed by the insured, is acceptable.
True or False?
False
Machine Shop
What is undamaged stock coverage? Give a claims example.
Coverage for stock that is not damaged from a partial loss to full order of stock.
Machine Shop
Give a claims example for marring and scratching.
Ex. Employee accidently causes a scratch to form on the mold they have, and as a result they make defective parts because of the scratched mold.
Print Shop
Give all of the three exclusions for systems breakdown we bring back and a claims example for one of them.
Artificially generated electrical current, mechanical breakdown, and steam boiler explosion.
What is the TOB code for machine shops?
070
Print Shop
Printing Lottery Tickets or sweepstakes tickets, game pieces or pull tabs is unacceptable
True or false
True
Print Shop
What does PMEV stand for? How does this coverage work? Why is this important to print shops?
production machinery and equipment valuation endorsement
functional replacement cost
reduces the need to have to retrain employees on new equipment
Machine Shop
What percentages of redone work will our E&O cover if our insured does the work? and how much if someone else redoes the work for our insured?
80% if we redo it and 100% if someone else redoes it.
Machine Shop
What is the five year closing ratio and retention ratio for a machine shop?
Closing ration: 38%
Retention: 88%
Machine Shop
What is the difference between a machine shop and a manufacturer?
Whether or not they assemble parts or not
Machine Shop
Engine or transmission mechanical repair is an acceptable operation for Federated.
True or false?
True - up to 49% of sales
Machine Shop
What is the limit for precious metals and alloys if they are destroyed with the building?
In the BPP limit
Random Question
What was the picture on Nick's ugly Christmas sweater?
A shark with a Santa hat on
Machine Shop
Having low employee turnover and having experienced employees exceeds Federated's standards.
True or False?
False, meets expectations
Machine Shop
What is the main reason machine shops are great prospects for life and DI?
They are typically family owned businesses and they want to pass them down to their kids or close family.
Print Shop
Manufacturing or production of their own line of printed products for resale such as calendars, T-shirts, souvenirs, etc. is not acceptable at Federated
True or False
False - Acceptable up to 30% or $1.5M
Machine Shops
What are 3 of the 5 different names for machine shops that they would refer to themselves as?
Job shop, stamper, tool and die maker, plastic extruder, plastic injection molder.
Machine Shop
What does CNC stand for?
Computer numeric control
Machine Shop
What does burnish mean?
Machine Shop
What does EDM stand for? and what does the machine do?
Electrical discharge machining
shape is obtained by using electrical discharges.
Machine Shop
Up to what percentage and dollar amount of metal finishing, such as; electro plating, galvanizing, etc., is acceptable for machine shops?
Up to 30% and $1.5M
Machine Shop
What are Class A,B,C and D for general liability codes for machine shops?
A - Mass production machining
B - Product designed by clients
C - Parts or non-hazardous products
D - Parts and non-hazardous products including welding and repair.
Machine Shop
How many state associations for machine shops are there? How many national buying groups for machine shops are there?
State - 15
National - 4
Machine Shop
What is the percentage of penetration we have for machine shops with life and DI?
32%
Print Shop
Name three of the five printing industry processes.
Lithography, letter press, flexography, screen printing, Gravure