Not many staffing agencies, if any, operate a fleet or even one Aston Martin for their own employees.
“Staffing agencies can learn from what happened to James Bond’s “company car” and the consequences if the Aston Martin didn’t have proper insurance coverage,” states Glenn Salter, VP Risk Management and Compliance with Delaney Insurance Agency, Inc.
Bond is an intelligence officer for his “company” the Secret Intelligence Service, commonly known as MI6. He was also known by his code number, 007.
Fifty years ago Sean Connery appeared as James Bond in Goldfinger, the third movie of the extremely popular 007 franchise.
One of the movie co-stars was an Aston Martin DB5, of course, fully loaded with legendary gadgets installed at Q Branch.
There were four vehicles originally produced for Goldfinger. One was used for movie stunts, two for P.R purposes and the infamous one that James Bond uses on the big screen.
Although it had less than 15 minutes of screen time the Aston Martin became one of the most famous vehicles in the world. Ownership of this car, or at least a stripped down version, was every man’s dream.
The Aston Martin DB5 used by Bond in the movie ended up in the hands of Richard Losee. The car was purchased by developer Anthony Pugliese III for $275,000 at a Sothebys auction in 1986.
Pugliese didn’t run down to the grocery store to impress shoppers in this beauty instead it was placed on exhibit in dozens of museums, auto shows, and other venues.
In between exhibitions the Aston Martin was stored in a hangar at Boca Raton Airport.
In the mid-1990s Pugliese executed a new insurance policy for 80 percent of the appraised value of the car, which at that time was $4.2 million.
In 1997 somebody took their dream of ownership a little too far and stole the famous Aston Martin DB5. Thieves cut gate hinges and alarm wires, then using axle chains, dragged the car out of the hanger at Boca Raton Airport. Skid marks ended where a small cargo plane could have been parked.
Since that night the Aston Martin DB5 has never been seen and the Boca Raton Police Department now consider the case inactive.
Although detectives suspected Pugliese of masterminding the heist, they couldn’t prove it and in late 1997 the insurance company paid out on the policy.
Glenn Salter continues, “is the car at the bottom of the Gulf of Mexico rusting? Is it in a private collection somewhere? Either way the Aston Martin DB5, sadly, will probably never see the light of day again. Despite the dubious circumstances of the heist, the car was insured.
“As it was displayed at many different venues it would have been covered by commercial vehicle insurance policy. If Pugliese did not have this type of cov
erage he would be out the car and his initial investment.
“As a staffing agency any vehicles you operate should have adequate insurance coverage. This is includes personal vehicles that are utilized for business purposes.
“Many business owners don’t realize that their personal auto insurance does not cover the vehicle for business use. An accident occurring during business use will probably negate any claim.
“Company vehicles must be covered by a commercial insurance policy for the staffing agency's protection,” concludes Salter.
For quotes or more information, Glenn Salter may be reached at 909-481-7222 or visit http://delaneyins.com/