Q: Who is financially responsible for paying my equipment maintenance costs under your program?
A: Our Programs are backed by the financial strength of three "A" rated insurance companies
Q: What type of equipment does your program cover?
A: Almost all electrical equipment for industries such as Hospital and Healthcare Providers, Financial Institutions, Government/Municipal Properties, Grocery Store Operations, Commercial Operations and Educational Institutions. To view a list of eligible equipment for each industry, click on the industry name.
Q: Who services equipment covered under your program?
A: Herman Risk Management and the Insurance Companies do not service your equipment. You control who is called for service and the timing of the service event. You are free to use your current service provider or any desired service provider for each repair and maintenance event. Further, you will find that equipment uptime and performance improves as vendors are managed and encouraged to perform quality, appropriate, and effective maintenance actions each time they service your equipment.
Q: How does The Herman Risk Management program deliver savings?
A: By consolidating your current vendor maintenance contracts into one comprehensive program, we eliminate the high costs and inefficiencies of multiple vendor service contracts achieving cost savings of 10-22%.
Q: Is preventative maintenance covered by your program?
A: Yes, in addition to covering corrective maintenance, this program can cover preventative maintenance on your covered equipment as well. You choose the quantity of PM's to be covered, typically following OEM recommendations. All PM's are reflected in the equipment schedule so you can track completion status on our Online System.
Q: Can I utilize my in-house staff to perform repairs?
A: YES! We will reimburse your in-house staff to perform in-house repairs. In addition, we will also pay for associated parts replaced during the service event. In fact, we strongly encourage your in-house staff to participate in the program as it helps provide long-term savings for your organization as we work together to manage maintenance costs.
Q: What if I need service after hours or on weekends?
A: Unlike most service contracts that limit hours of coverage (i.e. 8 AM to 5 PM), our program protects your equipment 24 hours a day, 7 days a week. There are no hidden charges for service after hours or on weekends.
Q: Will I have one common anniversary date?
A: YES! For your convenience, we will consolidate all covered equipment into one comprehensive program.
Q: What type of data can I receive under your program?
A: With The Herman Risk Management program you will receive targeted, accurate, timely reports and information. Through our internet-based system you have real time access to account scheduling, reports, claim status and more. Comprehensive supporting documentation and detailed reports for each service event help you accurately evaluate and manage equipment and vendor performance. Program summary reports offer a broad view so you can see trends in program operation and monitor overall costs associated with repair and maintenance activity.
Q: How does program administration work?
A: Program administration is easy! Equipment can be added or deleted by simply notifying us of the equipment change. To receive reimbursement for equipment repairs, all you need to do is submit a copy of the field service report and invoice to us for reimbursement, in the pre-addressed claim envelopes that we provide. We can reimburse you directly or pay the vendor on your behalf.
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