Pub. 6 2017 Issue 1

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 16 MANAGING WINTER WEATHER RISKS Each year, thanks to winter accumulations of ice and snow, pedestrians risk slipping and falling on sidewalks or in parking lots. When this happens on a commercial prop- erty, the owners can be held accountable, depending on specific state and local laws. Banks are just as susceptible to being liable for such incidents as any other commer- cial establishment. To help prevent customers from being injured on bank property and subsequently filing a lawsuit, certain precautions and practical efforts can be taken to maintain property upkeep. Develop a Response Plan In order to help mitigate your bank’s risk of incurring liability as a result of poor winter maintenance, a winter weather response plan should be developed. The baseline for this plan is an assessment of the business site. Map the Site Begin the assessment by preparing a diagram of your site, noting the parking areas, all entrances, fire hydrants and any other features that are important to identify when considering snow and ice removal. Trouble spots, meaning those places where ice or puddles are known to occur, should also be marked. A diagram can prove invaluable during winter storms, as it can help prioritize the order of cleanup work and make it easier to track which tasks have yet to be completed. Additionally, diagramming the site may prove helpful should your business be sued by a patron injured on your prop- erty. Outline Action Steps Once the location has been assessed and diagrammed, the response plan steps should be outlined. This includes deter- mining who is responsible for decision making during a storm, when service crews should prepare walkways with salt and deicers, when snow should be cleared from parking lots and walkways and where plowed snow will be stored. Also consider how and when crews are expected to prevent refreezing of previ - ously cleared paths. Developing a plan with explicit instruc- tions can help prevent misunderstanding among staff as to what the expectations are during winter weather. Prepare Supplies No winter weather plan can be successful without the proper supplies. A sufficient amount of the essentials (such as sand, salt and shovels) should be purchased be- fore the season begins and stored so that they are readily accessible. Purchasing these items well in advance will help you avoid last-minute shopping and ensure that you have the right supplies in store. Examine Equipment Inspect the condition of safety items (such as rubber mats) and snow remov- al equipment (such as plows). Ensure that any damaged items are replaced or repaired in advance. Consider keeping spare parts on hand to help mitigate a delay in the repair process in the midst of a winter storm. Execute Written Contracts When working with outside contrac- tors for services such as snow removal, documentation is essential for protecting a bank in the event of a lawsuit. Having a formal, written contract in place is crit- ical when considering services that will protect your customers from injury. When executing a contract, be sure to in- clude risk transfer clauses to help reduce the chance of liability losses associated with winter weather. And when looking for a snow removal service, select repu- table contractors who are appropriately insured. Remember, Winter Is Coming… While winter weather can be invigorat- ing, it also brings some serious risks. Slip- and-fall related injuries are fairly common during the wintertime, and snow and ice don’t necessarily inhibit customers from visiting a bank. In order to help mitigate the risk of incurring liability as a result of poor winter maintenance, banks must develop and execute a sufficient winter weather response plan. About OneBeacon Financial Services OneBeacon Financial erty anges for commercial banks, savings banks and savings and loan institu- tions, security broker- dealers, investment advisors, insurance companies and credit unions. Specialty coverages, including professional liability, trust errors & omissions, cyber liability and financial insti- tution bond are additionally available for institutions with less than $3 billion in assets. Contact Us: al Services can help you manage your unique risks, please contact Craig M. Collins, President, at cco- llins@onebeacon.com or 952.852.2434. Visit our website at onebeaconfs.com or find us on: “Snow and ice doesn’t necessarily inhibit customers from visiting a bank.” By Craig M. Collins – PRESIDENT, OneBeacon Financial Services