METHOD AND SYSTEM FOR MITIGATING RISK IN ISSUING INSURANCE

• US 20090204447A1
• Filed: 02/06/2009
• Published: 08/13/2009
• Est. Priority Date: 02/08/2008
• Status: Abandoned Application

• Current Assignee: Honeywell International Inc.
• Original Assignee: Honeywell International Inc.
• Inventors: Moore, Frank O., Reinhard, Laura, Tucker, Ricky G.
• Application Number:
  US12/367,153
• Publication Number:
  US 20090204447A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: E04D 11/02 Build-up roofs, i.e. consisting of two or more layers bonded together in situ, at least one of the layers being of watertight composition gravelling of flat roofs E04D7/00; venting or ventilation E04D13/17
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method for mitigating risk in issuing insurance comprising: submitting a request for the insurance; determining if a method, material, system or item complies with a predetermined set of parameters; and issuing the insurance, wherein the predetermined set of parameters is selected from the group consisting of: the installation of a foam insulation, ballistic resistance (e.g., adhesion products, Spectra products, and resins), cut resistance, energy management, alert sensors (e.g., smoke detectors, fire alarms and carbon monoxide detectors), process control, weather resistance, water resistance, mold resistance, loss of business, loss of property, loss to the environment, avionics, injury to persons, and security (e.g., document and personal security, money, anti counterfeiting).

Claims

1. A method for mitigating risk in issuing insurance comprising:

submitting a request for said insurance;

determining if a method, material or system complies with a predetermined set of parameters; and

issuing said insurance.

2. The method according to claim 1, further comprising:

if said method, material or system is compliant, authorizing said request for said insurance.

3. The method according to claim 1, further comprising:

if said item does not comply with said predetermined set of parameters, arranging for a site visit.

4. The method according to claim 3, further comprising:

analyzing at least a part of said method, material or system;

optionally, selecting a material to correct the non-compliance; and

installing said material.

5. The method according to claim 1, wherein said predetermined set of parameters is selected from the group consisting of:

the installation of a foam insulation, ballistic resistance, cut resistance, energy management, alert sensors, process control, weather resistance, water resistance, mold resistance, loss of business, loss of property, loss to the environment, avionics, injury to persons, and security.

6. The method according to claim 5, wherein said alert sensors are at least one selected from the group consisting of:

smoke detectors, fire alarms and carbon monoxide detectors.

7. The method according to claim 5, wherein said security is at least one selected from the group consisting of:

document and personal security, money security systems, and anticounterfeiting systems.

8. The method according to claim 4, wherein said compliant material comprises a foam insulation.

9. The method according to claim 1, wherein said request is submitted via an Internet application or paper application.

10. The method according to claim 1, further comprising:

prior to issuing said insurance, determining if all insurance standards are met.

11. The method according to claim 1, wherein said item is selected from the group consisting of:

a pothole repair system, a camouflaged structure, and a vehicle protection system or combinations thereof.

12. The method according to claim 11, wherein said compliant material is a polyurethane or polyisocyanurate closed-cell form prepared using a blowing agent comprising a hydrofluorocarbon selected from the group consisting of:

1,1,1,3,3-pentafluoropropane, 1,1,1,2-tetrafluoroethane, and mixtures thereof.

13. A method for issuing insurance comprising:

providing an item, process or person to be insured;

determining whether said item, process or person complies with a predetermined set of parameters; and

issuing said insurance.

14. An integrated risk mitigation system comprising:

a risk mitigation method, material or system; and

insurance.

15. The system of claim 14, wherein said risk mitigation method, material or system is complies with a set of parameters selected from the group consisting of:

the installation of a foam insulation, ballistic resistance, cut resistance, energy management, alert sensors, process control, weather resistance, water resistance, mold resistance, loss of business, loss of property, loss to the environment, avionics, injury to persons, and security.

16. The system of claim 15, wherein said foam insulation comprising a rigid closed cell foam comprises (a) a blowing agent, and (b) at least one compound selected from the group consisting of:

a polyurethane, a polyisocyanurate, a phenol, a thermoplastic polymer and combinations thereof.

17. The method according to claim 15, wherein said alert sensors are at least one selected from the group consisting of:

smoke detectors, fire alarms and carbon monoxide detectors.

18. The method according to claim 15, wherein said security is at least one selected from the group consisting of:

document and personal security, money security systems, and anticounterfeiting systems.

19. The system of claim 14, wherein said risk mitigation method, material or system comprises at least one selected from the group consisting of:

a pothole repair system, a camouflaged structure, and a vehicle protection system or combinations thereof.

20. A risk mitigation insurance product comprising:

a warranty against a harm to an item, process or person based on use of risk compliant method, material, system or item.