Three Leading Causes of Uncovered P&C Losses

With alarming frequency, the media reports heart wrenching stories of insurance consumers who have had a significant property or liability loss, only to learn after the loss that the insurance policy they have purchased does not provide the proper coverage.   
While the reasons for an uncovered loss vary, I provide this one page overview  that details the [...]

Read Full Post »

A New Imperative: Greater Peace of Mind

Given the tumult that is occurring in the marketplace, many clients are re-discovering the importance of aligning their insurance coverage with carriers that can best document their financial stability and strong claims paying ability.
With fortuitous timing, a new provider of comprehensive insurance coverage can also demonstrate remarkable financial stability, and is now open for business: [...]

Read Full Post »

AIG’s Issues and Solutions: the two news stories you must see

Looking Back: How it Unraveled  To gain a better understanding of the reasons behind AIG’s financial woes, NY Times reporter Gretchen Morgenson offers this fascinating expose on what went wrong.
Looking Ahead: The Plans to Move Forward For insights on how AIG plans to reshape itself moving forward, click this link to watch AIG’s Road Ahead, [...]

Read Full Post »

Risky Business

From this month’s edition of the fine publication “Financial Planning”:
“Whether your client is high-net-worth or working to become so, it is incumbent upon financial planning professionals—often the most trusted advisors—to position insurance as a critical protection for the assets they have worked so hard to build. Working with an independent insurance broker is particularly important [...]

Read Full Post »

Why the rising costs??

I am often pressed to explain the rising cost of insurance — not an easy task. As with the rising cost of anything, a complete explanation involves revieiwng many factors (boring). There is one leading factor driving the rising cost of insuring homes that the WSJ recently decided to cover.
 
I am surprised that many I [...]

Read Full Post »

Delay Deny Defend

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.

Read Full Post »

When Transferring Real Property to a Trust or LLC

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 [...]

Read Full Post »

Examining the Causes of Residential Loss

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 this question is [...]

Read Full Post »

An Old (and dangerous) Marketing Pitch

“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 [...]

Read Full Post »

Home Renovation & Construction Projects

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 [...]

Read Full Post »