Search Results for: blog personal risk management part 1

Friday the 13th and Travel

I happen to be related to a grown man who wouldn’t travel on Friday the 13th to save his life. No trains, no planes… okay, I guess he has been known to drive in an automobile on what is known around the world as an evil day. But even so I know he limits his driving to only absolutely essential destinations. What about you? Are you afraid to leave your home on Friday the 13th? Would you fly on a Friday the 13th or stay on the 13th floor of a hotel on Friday the 13th? Many people wouldn’t. So … Continue reading →

Evaluating Risks

Determining risk plays a huge role in money management. From selecting insurance, setting aside an emergency fund, to investing – you have to evaluate your personal financial risk. Usually, the more risk you take the more money you potential have, but then if your good luck runs out… risky choices can quickly ruin your finances. Ultimately you have to derive a comfortable balance. Being too risky can cost you money, but so can being too safe. The key is in finding the right balance given your unique situation. How do you do exactly that? There is no set answer that … Continue reading →

Insurance Blog Week In Review July 18-23, 2007

Insurance Term Of The Week: Homeowner Insurance Forms If you have read any of my guest blogs in the Adoption or Special Needs parenting sections or know about my personal life at all hopefully you can forgive my obvious lack of work the past several months. I love this gig but the responsibility of parenting a special needs child is overwhelming sometimes! Let’s hope I can stay back on track and writing about the exciting topic of Insurance. I wish I was not cursed with a mind that thinks Risk Management all the time, it makes it difficult to go … Continue reading →

Eliminating Risks

My husband and I are in the middle of moving to our dream home after two years of looking for just the right place. He originally wanted to find some property on the Columbia River I wanted a view. During our long and painful hunting we found some very wonderful homes some filling his dream and some mine. One of our major concerns about our new home is that we can live there for a long time and face minimal risks. It didn’t take a lot of hunting for us to realize living on the river itself was more risk … Continue reading →

Controlling and Reducing Risks

When it comes to personal risk management controlling and reducing our risk is where we have the greatest power over the cost of the worst case scenario. Those who pay attention to the facts that make a risk more or less likely and control what they can will not only avoid some of the risk completely, but may also have discounts on their insurance premiums. Most homeowner insurance companies offer discounts for insureds with alarm systems, or other security devices. Other discounts may be available for homes with fire sprinkler systems. These things not only reduce the risk your home … Continue reading →

Retained or Accepted Risks

I have a friend who likes to climb mountains. I’m not motivated to climb a mountain, but some people are and enjoy doing so as often as possible. I could probably climb a mountain if I had to and I might try if I had no other choice, but for me at this point in my life I just don’t want to take the risk of a broken leg or blisters on my hands. In fact, at this point in my life the risk of breaking my leg is much lower then a friend of mine who does climb mountains … Continue reading →

What is “Risk?”

Benjamin Franklin once said, “In this world nothing is certain but death and taxes.” A wise insurance man I once knew added, “The rest of life is about personal risk management.“ Insurance is a tool we have to help manage our personal risk and an important part of living a life we can control for ourselves. Between death and taxes is our lifetime and each of us manage our lives the way we decide. In our culture the hope is to build wealth, provide for our children and families, plan for our retirement and leave something behind if there is … Continue reading →

Risk Management: Protecting Your Assets.

The first and most important step in Personal Risk Management is to determine what you have and what you need to protect. Insurance is about protecting your assets and deciding what to do in the worst case scenario. The amount of insurance a person or family needs, depends on what they have to lose both in material property and financial security for the future. Success and building a secure financial foundation for you and your families future changes and grows as families learn to manage their risks and plan for life events. What you insure, the value you insure for, … Continue reading →

Personal Risk Management-Part 1

Personal Risk Management is looking around your home and your life, recognizing risk, and planning what to do about it. Corporations recognize that in business, just about the only sure thing is that you will have risk. According to a global study of financial institutions by Deloitte between the years 2002 and 2004, there was a twenty-five percent increase of board-level oversight in corporate risk management. In the corporate world, risk management referrers to a company’s evaluation of its exposure to risk identification. A company may be able to identify risk easily, because it comes in the form of a … Continue reading →

Space Insurance – The Final Frontier

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It’s been more than a decade since the year 2000, and we still do not have flying cars. Instead, we have private companies that are working on creating space planes that will leave the Earth’s atmosphere. Obviously, this is rather risky, and therefore, requires a unique type of insurance policy. SpaceShipOne is the very first space plane that can leave the Earth’s atmosphere that was not created as part of a government program, or with government funds. Obviously, there would be extreme risks involved in flying what amounts to a spacecraft. SpaceShipOne has a $100 million insurance policy with Lloyd’s … Continue reading →