He was born on June 28, 1951, in Litchfield, IL, the son of William 鈥淏ill鈥� and Rosezella 鈥淒oll鈥� Franzen. Tom married Karen Coatney on October 6, 1972, and they shared 52 wonderful years together.

Tom鈥檚 career in the insurance industry spanned nearly 50 years. He served as Vice President of Scheller Insurance Agency, Inc. for almost 40 years and was the President of Thomas F. Franzen & Co., an insurance and risk management consulting firm.

Tom enjoyed sharing his skillsets and insights through numerous civic and volunteer roles such as being a Board member of HSHS St. Francis Hospital (serving as chairman for four years), and former Chairman and Vice-Chairman of Litchfield, IL Economic Development Coalition.

He was a valued member of the Board of Directors for the First National Bank of Litchfield for over 20 years. A dedicated risk management consultant and advocate for the 果冻传媒, he was highly respected by the Board, members, and staff.

Tom found joy in riding his motorcycle, golfing, hunting, fishing, and making cherished memories with his family. His faith was of utmost importance to him, and he loved engaging in conversations with everyone he met.

He is survived by his wife, Karen, and two daughters: Jennifer (Jeff) Franzen-Ballard of Hazel Green, AL, and Sarah Franzen of Normal, IL. He also leaves behind three grandsons: Jeffrey Franzen, Chase (Jordan) Ballard, and Matthew Ballard.

Please join the Association in offering condolences to the Franzen family. We are exploring meaningful ways to honor Tom鈥檚 memory. If you have any suggestions, please reach out to Steve at Steve@FarmEquip.org.

Memorial Arrangements: Services will be held on Saturday, November 16, at the Methodist Church of Mt. Olive, IL. Visitation will be from 12:00 p.m. until 3:00 p.m., with a memorial service immediately following.

In lieu of flowers, the family requests memorials to the Methodist Church of Mt. Olive or doing something kind for someone, as doing so was in his very nature.

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The construction sector, due to its size and scope, is more exposed to supply chain woes that can cause concern for insurers than industries that do not consume similar volumes of raw materials or require as much skilled labor.

Building construction insurance programs that include contingencies for supply chain disruptions and related risks can help protect contractors and others, they say.

Kevin Bates, group head of risk and insurance for Australian construction company Lendlease Corp. in Sydney, said a robust supply chain should include secondary and tertiary supply options and opportunities, which create a 鈥渟trong competitive tension鈥� that translates to improvements in quality, speed, safety.

鈥淭here鈥檚 a need for everybody to raise their game. It鈥檚 competitive. People want to win the work and they know that things like safety, quality and reliability are points of differentiation,鈥� said Mr. Bates, who is also a board member of the Risk & Insurance Management Society, Inc.

Redundancy and contingency planning should be a part of a well-designed supply chain, said Dallas-based Cheri Hanes, who heads the subcontractor default insurance risk engineering team at Axa XL, a unit of Axa SA.

To weather challenges, 鈥測ou must really understand your supply chain, because it鈥檚 much more complex than you think. If it鈥檚 simple, that means it鈥檚 not redundant,鈥� and potentially more exposed to disruption, she said.

鈥淲here possible, redundancy is always a good idea, or at least having contingency plans in place,鈥� said Cincinnati-based Pat Stoik, chief risk officer for Overhaul Inc., which specializes in in-transit supply chain risk management. 鈥淩oute planning, proper security protocols for transit and storage, visibility of the goods while in the supply chain, and contingency plans contribute to successful navigation of the supply chain.鈥�

鈥淭he risk manager and the supply chain team should work very closely to make sure that the risk handling matches the supply chain activities being followed,鈥� Mr. Stoik said.

Larger companies should have risk management capability within the supply chain management function, said David Shillingford, an adviser to Troisdorf, Germany-based Everstream Analytics.

鈥淭here is an opportunity for insurers to work more closely with companies that are mapping their end-to-end supply chain to develop or extend supply chain risk transfer mechanisms,鈥� he said.

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