Merlin Law - October 2019

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As entrepreneurs scale their businesses, there is a lot to focus on: hiring the right staff, creating the most effective marketing strategies, and setting up efficient operations. With so much to do, it’s easy to lose sight of your initial vision for your company. If you’re stuck in a rut, know that you’re not alone. Plenty of the most successful entrepreneurs have endured the same struggles and, with a little ambition and a lot of creativity, came out on top. Take Henry Ford, for example. Henry Ford made the automobile accessible and appealing for the common citizen. This ignited interest in the market from consumers and manufacturers alike, which led to innovations like air conditioning and other appliances we can’t imagine living without today. There were some key factors that played into his success, and, if you apply them to your own journey, you could gain a new perspective and be inspired to create and innovate in your industry.

accessible for people outside the upper class for the first time. As long as you keep the consumer and their needs in mind, you’ll find ways to make their experience better and increase your success.

Reignite Your Passion Lessons in Innovation From Henry Ford

Small Changes, Big Impact

Unlike many companies today who sacrifice quality for quantity, Ford found ways to focus on both. He looked at how cars were actually made and found that, if he could build more cars within a certain time frame, he could pay less per car, per worker. Thus, the moving assembly line was born. When looking for ways to innovate in your industry, rethinking even the smallest, simplest details can make a huge difference for your business. You may not be able to reinvent the wheel, but who said you couldn’t reinvent the brake pads? Henry Ford may have changed the automobile industry forever, but you don’t have to go to such lengths to innovate in your own. The next time you find yourself uninspired or stagnant, look to those who made your industry what it is today. You might just find the inspiration you’ve been searching for.

Consumer-Focused

Ford realized cars were unreliable and unaffordable to most and set out to change that. After developing the first moving assembly line, Ford lowered the price of cars and made them

From the Property Insurance Coverage Law Blog Court Does Not Pity the Fool Who Does Not Fully Read His Insurance Policy

C hip Merlin frequently stresses the importance of reading the whole insurance policy when determining whether there is coverage for the relevant property damage. The failure to do so was highlighted in a recent case — Boring v. State Farm Fire & Cas. Co ., No. 19-1833, 2019 WL 3774191 (E.D. Pa. Aug. 9, 2019) — where a Pennsylvania federal court stated it could not ignore the specific terms of an insurance policy merely because the insured may not have fully read the policy. In that case, an insured sued his homeowner’s insurer, alleging it failed to pay what he perceived as the full estimate of water damage resulting from a broken pipe in his house. While the insured received payment for a 24-foot portion of slab repair to access and replace a drain line under the kitchen floor, he claimed his insurance company’s failure to pay an additional 15 feet of slab repair to the main drain was a breach of the insurance policy.

The insurance policy contained an endorsement requiring the insurance company to pay for repair to only those areas in the house necessary to access the specific defect in the appliance causing the water damage. Nevertheless, the insured contended his insurance company should pay for the additional slab repair, utilizing a sentence of the insurance policy that had been deleted by the endorsement. The court ultimately ruled that the insured failed to state a claim for breach of the insurance policy because he conceded that the endorsement was in effect at the time of the loss. Consequently, the court would not read out the endorsement. Rather, the court was obligated to interpret the policy with the endorsement read into it and, therefore, could not ignore the specific terms of the endorsement because the insured may not have fully read the policy.

Article by Paul LaSalle (August 23, 2019). For more informative articles like this one, visit propertyinsurancecoveragelaw.com.

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