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Caveat Emptor: Let the Buyer Beware

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An article posted by Property Casualty 360 states a simple truth — Insurance contracts are complicated documents, especially for the average consumer. If you have ever gone through a disaster like a hurricane, flood, tornado, fire, power outage, or cyber attack you are probably familiar with the expression “Buyer Beware”.  In fact after Hurricane Sandy, […]

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Proposition 65: How are you exposed?

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Imagine your company receiving a 60-Day Notice of Violation related to California Proposition 65. Are you familiar with this Proposition? The Notice alleges that one of your products contains lead and as a result of the sale of this product, exposures to lead have been occurring without clear and reasonable warnings on the product as […]

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Approaches to Risk Management: Part 3 Enterprise Risk Management (ERM)

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In parts 1 (The Basic Concepts) & 2 (Digging Deeper) we gave you the “traditional silo” approach to risk management. Another school of thought we would like to share is ERM – Enterprise Risk Management. ERM is a framework to identify risk that typically involves identifying particular events or circumstances relevant to the organizations objectives […]

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Approaches to Risk Management: Part 2 Digging Deeper

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In part one of this series, Approaches to Risk Management: The Basic Concepts, we recommended you analyze your business risk management program from 7 major aspects. Beyond these basic concepts, some academic authorities suggest the following as necessary considerations in the development of a formal Risk Management Process as well. Assets & Exposures – it […]

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Approaches to Risk Management: Part 1 The Basic Concepts

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To get a flavor of where to start in the analysis of how to save time and money on an insurance program, a basic understanding of a few concepts is necessary. The first is the idea of “Risk Management”. Risk Management is the practice of protecting an organization from financial harm by identifying, analyzing, and […]

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The Bold Truth About Risk Assessment

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Risk Management by definition is the practice of protecting an organization from financial harm by identifying, analyzing, and controlling risk at the lowest possible cost. This is a very blunt definition that should be top of mind when discussing the purchase of an insurance product or discussing other risk management techniques. The challenge is to […]

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Market Changes Post Hurricane Sandy

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Having just read the article Market Changes Post Hurricane Sandy on the Business Insurance website, it caused me to wonder if this is good news or bad news for the businesses that have operations in the NY, NJ and CT. I surmised that it is neither … consumers really have to be more diligent in […]

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4 Most Common & Expensive Business Insurance Mistakes

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Business insurance is something business leaders deal with every year and most find it confusing and aggravating. Business leaders we speak with are frustrated with their insurance. They don’t have time to thoroughly evaluate what they are getting… they don’t fully understand the coverage especially the exclusions and how they may affect a loss… they […]

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