Keeping You Informed to Insure Your Success VOLUME 7 • ISSUE 1
A STRONG HISTORY OF CUSTOMER SERVICE LONG TERM
The Cogswell family’s dedication to the fire sprinkler
involvement in the fire
sprinkler industry is well
industry, Jack teamed up with his
two sons in 1983 to form Cogswell PROTECTING YOUR COMPANY
documented and well known
within the New England sprinkler
Sprinkler Company, Inc. (CSC). A
third floor apartment on Edgeworth
AND YOUR EMPLOYEES
community. What you may not Street in Worcester, MA served as Long Term Care (LTC) is the type of
know is that it all started three the corporate office for the young personal care a person of any age may
generations and almost 60 years company. Jack was responsible for need when he or she can no longer
ago when the family matriarch, the sales and design, while sons perform everyday tasks alone. Due
Mary J. Cogswell, made her mark John and Jeff handled installations to illness, an accident, or the effects
by becoming the first woman under their father's watchful eye.
of aging, a person may need assistance
president of the Rockwood Sprinkler Despite the slow economy, CSC grew
with normal activities of daily living
Company's Mutual Aid Association into a formidable force in the Central
such as bathing, dressing, and eating.
in February of 1949. Shortly there- Massachusetts region.
after in 1951, John (Jack) Cogswell While aging accounts for much of the
followed his mother, Mary, through When Jack unexpectedly passed away need for long term care, it’s not just
the doors at Rockwood Sprinkler to in 1988, the young brothers, only 28 for the elderly – it can strike at any age.
establish the second generation of and 25 years old, had the daunting
Cogswells in the sprinkler industry. task of maintaining the business while Medical, dental, and life insurance have
As a junior design trainee, young dealing with the loss of their father long been a part of employee benefit
Jack listened and learned from and mentor. It was a very tall order packages. In the past, LTC insurance
some of the masters and founders for the two young men, but as history was only available for purchase on an
of the burgeoning international fire has shown, one for which the “boys” individual basis after having a medical
sprinkler industry. were well prepared. exam, which was a factor in determining
your rate.Today, employers are recogniz-
After several years with Rockwood By 1989, the third floor on Edgeworth
ing the potential financial impact on both
Sprinkler, and many years of Street couldn't hold the upwardly
their employees and business, and are
mobile duo any longer, so CSC
relocated to larger space on Milton making long term care insurance part of
Street in Worcester. At this time, their benefits package.
their sister Joni and several of
their childhood friends joined Many baby boomers caring for aging
parents have already become intimately
JEFF AND JOHN COGSWELL familiar with long term care and its
impact on retirement savings. Over
13 million people in the United States
require long term care1 and family
members and friends serve as sole
caregivers for over 70% of the elderly
population.2 Based on yearly nursing
Cogswell Sprinkler - Page 2. Long Term Care Insurance - Page 3.
COGSWELL SPRINKLER ( CONTINUED FROM COVER)
RENTING A CAR FOR the company. In 1991, due to
steady growth, CSC needed even
Cogswell, “The investment is
already paying off, and as costs
THAT SUMMER VACATION? more room and relocated to its
current headquarters at 22
continue to escalate we’re
confident that this investment
Do you need car rental insurance? Canterbury Street in Worcester. will prove even more valuable
in the long run.”
Many renters are unsure Since its founding over 25 years
what to do when ago, CSC has been designing, Working in the residential,
it comes to accept- inspecting, maintaining, and commercial, municipal, federal,
ing or declining the installing fire sprinkler systems, industrial, and institutional areas,
rental company’s and adhering to the strong belief the Cogswells have grown to meet
coverages and that absolute service and dedication the challenges placed upon them.
waivers.This to its customers is the most critical There has never been the “too
indecision often commitment it can make. With large” or “too small” response to
comes from not knowing continued opportunities in the fire a customer in need of a life- and
what their personal or business protection arena, CSC has grown property-saving fire sprinkler sys-
car insurance covers while renting a vehicle. to serve additional New England tem, but rather the fulfillment of
Unfortunately, the answer to that question is states, namely Connecticut, Rhode the solidly entrenched philosophy
not simple or clear cut. Here are some steps Island, New Hampshire, and Maine, of the “Customer Comes First.”
to take to help you find the answer. and not only in the fire sprinkler
business, but horizontally as well. “It’s clear that Protector Group
• The best thing to do is PLAN AHEAD. New divisions, under the umbrella shares our ‘customer first’
Don’t wait until you are at the rental counter of The Cogswell Companies, are philosophy,” said John Cogswell.
to try and determine what you need or don’t dedicated to diverse markets such “In our business things are often
need for rental car insurance. as residential, fire alarm, special very last minute, yet we can always
• Check your personal auto policy and talk to hazards, and specific applications. depend upon George Breen, Vice
your insurance agent.The same coverage President; Nancy Melton, Senior
and deductibles you carry on your car will With the strong work ethic set by Account Manager; Nancy Kalaora,
apply – in most cases – to a vehicle you rent. their father it is not surprising that Loss Control Coordinator; Darlene
However, if you own and insure an older CSC has achieved significant growth Beshaw, Vice President of Surety;
vehicle, that coverage may not be enough if and success under John and Jeff’s Terri Nabulsi, Underwriter, and
you want to rent a new convertible for your management. As the company has Laurie Penniman, Underwriting
vacation.Your insurance agent will be able
grown, they have made a number Assistant; to be there for us… and
to assist you with what is covered and what
of investments in efficiency and we use them a lot!”
productivity-boosting software and
• Check the coverage provided by your charge technologies to ensure that they stay Protector Group provides CSC
card company. Coverage varies from card focused on customer service. One with their property and casualty
to card and may have exclusions based on recent example is the purchase and insurance, auto insurance, workers’
the vehicle you want to rent.There are also installation of GPS systems on its compensation, and surety needs.
limits, exclusions, or special requirements
fleet of vehicles. This enables the “While it’s critical, of course, that
for driving outside the United States.
company to incorporate individual they provide us with competitive
• After you have determined that you do trip data into its timekeeping system, solutions,” explained John, “it’s
need additional coverage, comparison shop maximize fuel and time efficiencies, also all about the relationship.
among the rental car companies ahead of monitor vehicle maintenance, and George and his team have not only
time by visiting their websites or calling their quickly locate vehicles if they break helped us be more competitive,
toll free numbers. Each company provides down, are involved in an accident, they have also been a great support
many insurance options, so be sure to
or are stolen. According to John to us and are a trusted partner.”
evaluate each product separately.
Bottom Line – Don’t feel pressured to buy the
rental company’s insurance. Why pay for some-
thing you might already have? Planning ahead
and conducting a little research will ensure that
you purchase only what you need and will give
you peace of mind to enjoy your vacation.
LONG TERM CARE INSURANCE (CONTINUED FROM COVER)
home costs, a portfolio of $250,000 the base plan offered by an employer.
would be depleted in less than five years.3 In addition, employees that are
With LTC insurance, retirement funds caregivers for individuals with LTC
and other investments should not need coverage experience fewer disruptions
to be touched to pay for long term care. to their work, experience less stress,
and are twice as likely to stay on the
In addition to depleting savings, job as those that care for individuals
care-giving duties for a family member without LTC insurance. Employers
or close friend can also mean that offering LTC coverage are often
work-related responsibilities suffer. rewarded with greater success in
Employers, too, experience an impact attracting and retaining qualified
when they must assign coworkers or employees, and enjoy certain tax
hire and train temporary workers advantages.
to cover for absences. Over time, Some Key Benefits:
continued absences result in a less “Over 13 million people • Employers can tailor LTC packages to
efficient and effective employee, cause the specific needs of employees.
greater stress, and may decrease morale
in the United States require • Group LTC policies generally offer
for employees that must take on added long term care and family better rates and can provide guarantee
responsibilities – all of which can lead issue (i.e., no medical exams).
to lower profitability. members and friends serve • Group LTC policies can be offered to
as sole caregivers for other direct family members.
• The employer typically offers a base
over 70% of the elderly plan, which employees can increase.
population.” • Many different services fall under LTC,
including nursing facilities, home health
Educating younger employees about care, personal care, adult day care, long
the benefits of LTC insurance also term home health care, respite care, and
makes good business sense. Not hospice care.
only can the need for long term care • LTC is affordable – paying privately for
affect anyone at any age, but younger long term care and home health care is
individuals can also purchase policies very expensive.
with lower premiums because rates • Providing LTC can help reduce absences
increase with age. of care-giving employees.
• Most long term care services are not
Contact Protector Group to see how covered by Medicare beyond a limited
you can make LTC insurance part of number of days.
your total benefits package offered • Savings may not have to be tapped – to
to employees, or to inquire about qualify for Medicaid, currently the major
source of funding for long term care
Experience with care-giving employees purchasing an individual policy. Either
services, individuals must meet certain
has led many employers to turn to way, our account executives have the
income and asset tests.
Group LTC insurance to minimize knowledge and the experience to help
• Benefits received from tax-qualified
future problems. Employers offering you decide on an LTC plan that is
LTC plans are generally not considered
LTC insurance enjoy a number of best suited to the needs of both your
taxable income under either federal or
benefits. For example, group rates can company and your employees. state law.
be less than rates for an individual, no 1Health Insurance Association of America (HIAA), A Guide to
Long Term Care Insurance, May 2003.
• LTC insurance policies provide the
medical exams are required, the plan 2Health Insurance Association of America (HIAA), A Guide to broadest coverage of long term care
can be offered to other direct family Long Term Care Insurance, May 2004.
Health Insurance Association of America (HIAA), A Guide to
members, and employees can increase Long Term Care Insurance, May 2003.
THE RULES HAVE CHANGED IN THE
MASSACHUSETTS AUTO INSURANCE GAME.
Previously, insurance rates were set by the Massachusetts • Loyalty/renewal credits
Division of Insurance and were based strictly on driving • Account credits
records, driving experience, and the town the vehicle • Good student discounts
was garaged in. Under the new system, rates vary by
• Student away at school discounts
company and are based on a combination of many factors
including previous lapses in coverages, types of coverages • Advanced driver training discounts
selected, or other policies in force.The new competitive • Hybrid vehicle discounts
marketplace is creating new coverage options, • Payment in full discounts
better prices, and additional discounts, creating • Group discounts
new opportunities to get the best value for your
insurance dollar. Not all coverages and discounts are available with
every insurance company. Restrictions apply, and
New coverages that are now available include: fees are subject to change.
• Replacement cost for new vehicles Be sure to evaluate both coverage and premium when
• Accident forgiveness comparative shopping. A lower priced quote could mean
• Disappearing deductibles for good drivers less coverage.With more than 100 different rating factors
• Pet injury protection to be considered, you need an experienced insurance
agent like Protector Group working for you. Don’t
• Personal belongings
sacrifice service for premium savings – it could make
• Emergency road/travel expenses a big difference at the time of a loss. Since most large
• Auto loan/lease GAP coverage direct writing companies do not have agents that you
• Increased towing and rental allowances can go to for assistance, getting immediate local service
• Additional customized equipment could be difficult.
Most insurance companies now offer optional package Protector Group is ready to work with you in reviewing
endorsements that can be added to your auto policy for your current insurance policies to find the best rate
a fee, and include a selection of the coverages above. to fit your needs and budget. Plus, if you insure your
property and vehicle with the same company, you’ll enjoy
In addition to the standard low mileage, anti-theft, multiple increased savings on both lines of coverage. Contact us
car, and good driver discounts, there are new discounts at 888-850-9400, via email at firstname.lastname@example.org,
now available including: or visit www.protectorauto.com.
The Protector Group Insurance Agency, Inc.
100 Front Street, Suite 800
Worcester, MA 01608 PAID
PERMIT NO. 2