Hubbell Policies

status. In addition, the Director, Risk Management will report to Platform Presidents, Platform VP of Finance and VP and Treasurer on the progress of the project each quarter. 4. VP and Treasurer will report on the status of each project quarterly to the Sr. VP and CFO. Monitoring, Evaluation and Review. 1. The business unit, Plant and or Facility Managers shall report to Director, Risk Management at least once a month to include project quotes, status of the respective AFEs, comments and approval by insurance carrier engineer for Critical Facilities. 2. The Director, Risk Management shall report the status of Critical Facilities to the Platform Presidents, VP of Finance, the VP & Treasurer and the CFO once a quarter. Such report shall include project names, descriptions, status, budget vs. actual and estimated date of completion. Exceptions. 1. There are no exceptions to this Policy unless approved by the Vice President & Treasurer. A plan must be in place to bring all existing Critical Facilities into compliance with the HPR standard within five years of the adoption of this Policy & Procedure. 2. Critical Facilities acquired as a result of an acquisition will be given five years to come into compliance with this Policy and Procedure. Any Critical Facility that loses its HPR designation shall be brought into compliance as soon as possible. 3. Periodic facility audits by Hubbell’s insurance carrier, broker and the Director, Risk Management to ensure that the HPR status is upheld.

ACCOUNTING AND DISCLOSURE

None

REPORTING

See above for reporting requirements

DEFINITIONS

Total Insurable Value (“TIV”) shall mean the value of real and personal assets plus the loss of profits and expense due to business interruption at each Facility.

Significant Facilities shall mean a n existing or new Facility that has a Total Insurable Value (“TIV”) of $10 million or greater. Facilities include leased buildings only where Hubbell occupies a majority of the Facility and maintains care, custody and control of the Facility.

Critical Facility shall mean a significant facility that has been determined by the respective Platform Vice President, Finance and the Vice President and Treasurer to be Critical in accordance with the Property Protection Procedure.

Highly Protected Risk (“HPR”): An HPR property is one that is judged to be subject to a much lower than normal probability of loss by virtue of low hazard occupancy or property type, superior construction, special fire protection equipment and procedures, and management commitment to property loss prevention and protection.

An HPR facility is one that meets the following criteria: • Adequate automatic sprinkler protection (as defined by Hubbell’s insurance carrier) • Adequate fire protection water supply (as d efined by Hubbell’s insurance carrier)

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