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The definitive thoughts, frameworks, and analyses on modern risk.
McKinsey & Co., the giant consulting firm, has helped several major insurance carriers to increase their profits by devising alarming claims strategies that all consumers should be aware of. Check this link to access video of a CNN investigative report that is essential viewing for all insurance consumers.
As high net worth individuals embrace the tax and asset protection benefits of placing private property ownership in the name of a trust or LLC, critical insurance coverage issues arise. Few trusted advisors or property owners are aware that the “named insured” insurance contract provisions prohibit the extension of coverage to protect the interests of […]
To Hedge, or not to Hedge…. An interesting question was recently presented on Terri Cullen’s great WSJ blog for her Fiscally Fit column by someone who labeled themselves a “contrarian”. In essence, the post asked: “since the likelihood of losing a home to fire is remote, why bother insuring the home for the full cost to rebuild?” I don’t think […]
“Save Money Now” (and the many variations) has to be the first ever marketing pitch. Most consumers know to ask themselves “how is it that the savings are being achieved?” Ask yourself: do you think an insurance carrier offering to lower your insurance costs has not first determined how they can reduce the protection provided […]
Recent news reports tell a story that insurance carriers know all too well: residential construction projects involve a number of risks that can create significant damage to your home. Determining who can be responsible after a loss can be very challenging. While it is important to have the right insurance coverage, it is just as critical to know the […]
It is alarming how many people confuse the purchase price or appraised value of a residence with the cost to rebuild it. The common thinking: My house is worth X, the land is probably worth 30 – 40% of that, so I will insure it for 70% of X, since the property won’t burn. Realtors, mortgage lenders, and tax assessors confuse […]
Among the common problems I hear from others about their insurance program: “no one ever explained that to me”. The response offered by too many insurance agents: “you never asked”. Clearly, what you don’t know can hurt you… Trusted advisors and consumers need to either work with a risk advisor who can help them by […]
This important Bloomberg News article exposes the strategies used by a few large insurance carriers to pay far less to claimants than their policies and fair claims practices should have obligated them to pay. Although the article contains several factual errors and miscalculations, it does a great job describing the origins and use of the […]