Category: Insurance
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Introduction Insurance is a way to protect the assets you own from potential financial losses. Usually, this takes the form of an insurance policy between you and an insurance company whereby you pay a premium in advance in exchange for the company’s promise to pay for a specified loss at a later date. The insurance…
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Segregation is defined as “…the action or state of setting someone or something apart from other people or things…”. Thanks Google. Another word for it is separation of items at risk or don’t put all your eggs in one basket! A simple example, from a personnel risk perspective, is to limit the number and rank…
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We know to not use the risk avoidance technique unless we absolutely have to. What does preventing a risk really mean – frequency reduction. We know, as a non-statistical rule of thumb, that a catastrophic loss risk will occur once, there will be 10 intermediate losses, 100 small losses, 1000 losses under the deductible/threshold (awareness)…
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May 12th, 2020 The insurance hard market has hit commercial insurance policy holders very hard over the last year. Condominium policies have sky rocketed by over 100% for some Condo’s while the limit of insurance for a flood loss has reduced from full building limits to 5 or 10% of the total – often $2,500,000…
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All organizations, world-wide, have been hit with significant disruptions to their business due to the lockdown associated with COVID-19. Some business are thriving (Amazon, UPS, Microsoft) while others languish. Where is your business in the chart below? Are you still in survival mode a month or more after lockdown? Have you continued operations or diversified…