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The definitive thoughts, frameworks, and analyses on modern risk.
According to Javelin’s 2020 Identify Fraud Study, Americans lost $16.9 billion due to identity fraud. Concerned? Consumer research conducted by Chubb reveals that while the majority of Americans are concerned about being impacted by a cyber breach, only a small percentage are actually taking the right steps to protect themselves and their families. What are the right […]
If you think I’m being an alarmist, I get it. Meanwhile, I just finished one of the most alarming articles I’ve ever read. In my lifetime. The title: “I’m a 37-Year-Old Mom & I Spent Seven Days Online as an 11-Year-Old Girl. Here’s What I Learned.” ONLY read this article if you require VERY graphic […]
Many financially successful individuals and families I meet with become uncomfortable whenever I address this topic. Such discomfort likely stems from the recognition that time and convenience has caused lapses in adhering to the best practices they have agreed will enhance their security. Though I don’t want to be a fear monger, I remind the […]
Although these three words are borrowed from “The Rime of the Ancient Mariner” , they capture the heartbroken sentiments many homeowners experience after a failure in their internal plumbing system has caused water to flow throughout their home. Sometimes for many hours or days. Just how common are losses like this? Research from the […]
Not knowing the right questions to ask about your insurance protection is among the key reasons far too many consumers hear the dreaded words “you’re not covered” at the worse possible time — after a personal property or liability insurance loss. Not knowing what we don’t know is a dangerous and common cognitive bias that […]
It is likely old news to most insurance consumers that the National Flood Insurance Program (NFIP) administered by FEMA is plagued with challenges. Challenges as in problems. Many. Big. Problems. This excellent New York Times article provides a sobering analysis of those problems. THE BIGGEST PROBLEM: As illustrated by the excellent chart below, although […]
The rising cost of auto insurance is a source of frustration for most of us. Many I speak with want to know how insurance companies determine the premiums they charge, and why those costs are rising. Insurance companies use actuarial science to analyze a lot of data to help them assess the probability of a […]
While the answer is a resounding YES, there is a catch. Not surprisingly, the impressive new safety features in modern vehicles first requires the driver to learn how to properly use those features. Perhaps because old habits die hard, many motorists are not deriving a benefit from each of the safety features their vehicle provides. […]
As this image attests, we can invest a lot of passion and funds in assembling a wardrobe over our lifetime. Those who invest in designer garments, shoes and handbags should make sure their insurance coverage properly protects collections that often represent a significant and highly vulnerable investment. Just as with fine art, couture collections are […]
After each flooding event, the media reports on the sad plight of homeowners (too many of them) who lost everything, alleging many were uninsured for the risk of flood because “they do not live in a flood zone.” These media reports are WRONG. Everyone lives in a flood zone, the real question is how great is […]