The Press Physician &#thirteen
Diagnoses Printing Press Ailments, Saving Insurers Thousands and thousands&#thirteen
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San Francisco, CA (PRWEB) July twenty five, 2003 – Industrial multi-

peril insurance coverage companies breathe a sigh of relief when Louis “Lou” Benbow, regarded business-wide as “The Press Medical professional”, comes to the rescue.    When printing presses break down mechanically or electrically, it is an emergency with costly and unsettling ramifications to the insurance policy supplier.

Benbow has earned a recognition and nationwide clientele that marks him a sizzling commodity to insurance coverage companies. Nevertheless, the acclaimed “ambulance chaser of the insurance business” stirs worry in the hearts of press devices suppliers who stand to obtain hundreds of thousands when a machine is marked irreparable.    With common personal claims mounting millions, and state-of-the-artwork printing presses costing thousands and thousands of dollars to exchange, Benbow’s gear consultation knowledge have saved insurance firms an regular of five to 10 million dollars for each 12 months (annualized).

Benbow racks up roughly 250,000 frequent flier miles for each yr, trekking to almost every single main metropolis – from Hollywood to Tucson to Dallas, to New York and Miami. Like a surgeon on contact, he routinely jumps flights from one particular press breakdown to rush to resuscitate one more. Shelling out an typical period of 1 to three days at each and every claim scene, Benbow arrives with absolutely nothing but his reliable eyes and ears – very good-tuned resources of the trade that detect brings about of press malfunction, oftentimes enabling insurers to fix devices as opposed to endure a whole substitute. “You have to be a sort of Columbo” describes Benbow, who meets with plant personnel and field engineers to set up test techniques to figure out the extent of harm.

A normal scenario was when he was contracted by typical customer The Hartford Steam Boiler Inspection and Insurance plan Organization in Hartford, Connecticut. One particular of the world’s leading gear breakdown insurers, Hartford Steam Boiler underwrites printing press coverage for some 200 insurance coverage companies. ” When I arrived at the Chicago print internet site to examine a declare that could have expense the insurance coverage organization $ four- million dollars I walked into a meeting of the German manufacturer, the press proprietor and their plant personnel ? all in unanimous arrangement that the press required to be replaced,” Benbow recalls. In what was quite significantly Columbo fashion, Benbow quietly listened to the dim prognosis, then fired a round of queries at the producer.    ”When I asked minimal questions, they replied “I dun-no” in dumbfounded trend,” Benbow reenacted. “As it turned out they had not performed the rudimentary checks.” Four weeks later, Benbow had the press running for $ 209,000 ? a fraction of the price of alternative. “The insurance organization was dancing in the isles,” features Benbow.

According to Robert Weir, an lawyer and the Director of Engineering for The Hartford Steam Boiler Insurance policy Firm, ” Hartford Steam Boiler’s printing losses have enhanced 4-fold with significantly less than one particular fourth of claim losses in the practically ten years that I have labored with Lou.” Printing press claims signify a hard business segment, in accordance to Weir, with pay out outs of as a lot as $ 7 in losses for every single dollar of intake in premiums. “When it comes to answers, there aren’t many like Lou,” maintains Weir. Laughing, he added, “in truth, I haven’t discovered two.”

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David Lofton, now a senior statements specialist for Zurich Insurance coverage, worked extensively with Benbow since 1997, dating again to Lofton’s tenure at Hartford Steam Boiler.

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“Over a five 12 months period of time Lou’s expertise saved us $ 600,000 to $ 700,000, just in mitigation,” estimates Lofton.    ”We’d have Lou standing there with the repair firm due to the fact he usually has far more knowledge than the real claims adjuster.” Lofton, who now utilizes Benbow’s services at Zurich Insurance coverage, characterizes Benbow as a virtual “insurance policy for the insurance agency.”

Del Schirmer, Loss Control Engineer for Travelers Insurance plan in St. Paul, Minnesota agrees, “The very first telephone call we make is to Lou when a printing press has had an ‘occurrence’ as we phone it in this enterprise. He is aware nearly every thing there is to know about a printing press.”

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Benbow explained but another scenario in which he was named in when a organization contracted to print postage stamps for the govt, knowledgeable a press breakdown. Quickly, the printing business filed a claim. Benbow’s thorough inspection uncovered the unpredicted ? the press was a prototype and not the real insured product. “They have been suggested to withdraw claim or confront litigation,” cites Benbow, who is certified to also act as an specialist witness for insurance companies in instances of fraud.

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Though Benbow admits that a thick cloud fills the area on his website visits, you will find far more to his uncommon trade than resuscitating printers that have been marked for the morgue, and diagnosing what’s oftentimes self-afflicting injury. He is also a savior to companies who want to remedy a printing press hiccup at lesser costs.

Benbow also helps make “house calls” for property harm claims where a printing facility or corporation has incurred flood, explosion or fireplace damage. In most situations, the printing press might be amongst the most high priced piece of machinery listed on a home claim, he explains. When Benbow determines that the gear can be restored to daily life, the residence claim insurer is spared hundreds of thousands of bucks.

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Breathing new daily life into misdiagnosed printing products has established to be large company for “The Press Physician”. With an typical base rate of $ three,000 per day in addition journey expenses, Benbow has billed up to $ 80,000 for conserving an insurance policy firm $ 4,000,000, a sum of five%. His extraordinary specialization areas him at the $ 400,000 mark in yearly revenues.

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Benbow is quick to position out that he is not a rookie in the exclusive market – and surely not to the printing business. Released to the subject at the age of 9 or 10, Benbow states that the print store grew to become a “dumping ground” for kids in lookup of a light class to eliminate time. Only in Benbow’s case, he cherished it.

Early employment with a new music publisher who printed Beetle’s songs adapted for the trombone and other instruments, gave Benbow his initial shot behind the presses on a full-time basis. 4 years in the US Air Force, preserving all printing devices in the printing plant for the Gentleman on the Moon Project perfected Benbow’s technological proficiency. In what’s been a effective succession of work in the printing organization, Benbow enhanced hugely sought soon after consultation knowledge that insurers necessary.

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After thirty-in addition decades in the practice, ” The Press Doctor” bears the specialist statements experience and knowledge to prescribe fast recoveries for press insurers and those companies straight impacted by complicated claims.

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