Replace Policy Clutter with a Blanket

 I am fortunate to have been asked to contribute an article by Private Asset Management, a publication of Institutional Investor that is focused exclusively on investment management, financial and advisory services to the high-net-worth arena, and especially on delivering breaking news before it appears anywhere else.   
While property and casualty related topics are not often covered by [...]

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When LESS is So Much More

For families (especially multi-generational families) who own many residences in different states, it can be overwhelming trying to keep track of all the insurance coverage protecting each home, every outbuilding, and the personal contents and valuables located in each residence.
NOW: imagine replacing those many policies with a single “Family Blanket Policy” that aggregates the various [...]

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Home Destroyed? Want to Rebuild Green?!

Insurance carriers that compete for personal insurance business in the affluent market niche are always looking for new ways to differentiate their coverage. 
Influenced by environmentally conscious homeowners in CA, San Francisco Bay Area Fireman’s Fund Insurance Company has introduced the first ever homeowners insurance policy offering “Green” coverage.  
This innovative policy is ideal for [...]

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PURE: “Now There’s a Bright Idea”

This Wall Street Journal article from Jan 29, 2009 actually offers good news: a newly formed insurance carrier is interested in providing coverage for owners of well built homes near the coast has been approved to issue policies in NY and NJ.   
PURE High Net Worth has a business model that is well worth reviewing.  From [...]

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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 [...]

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An Ounce of Prevention…..

This year marks the 70th anniversary of the unnamed hurricane that devastated Eastern Long Island and much of New England. While the NY Metropolitan area has been impacted by hurricanes since, it has also been awhile. Given this reprieve, there is a real complacency among homeowners to become better prepared. Ask yourself: if a hurricane [...]

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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 [...]

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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 [...]

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Not Your Father’s Home Security System

While having a fire and burglar alarm system can offer some peace of mind, most property owners are curious to know how technology can help them better protect their home — and their families while at home. While I am not an expert on home security, I am a good resource in directing homeowners to the [...]

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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 [...]

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