We can’t control the severity of the COVID-19 virus. We can’t control the impact this virus has had on the stock market and economy. We can’t control the impact it has had on our freedom and ability to interact with family and friends.
We can control individual social distancing to reduce the spread and flatten the curve. We can control trying to maintain the support of small businesses to strengthen our communities. We can control adherence to guidelines giving scientists and doctors a chance to provide treatment and therapies that will help everyone get to the other side.
There is something else you can control, so your assets are not susceptible to physical risk. Selecting the correct personal risk advisor for your insurance and liability matters is no less critical than the arduous selection of other members of your client’s financial team. A seasoned risk advisor will look far past the coverages and “surface risks,” digging much deeper into the overall risk management of each client’s exposures. A true risk manager will take a holistic approach to the process and coordinate with other members of the family’s trusted advisory team to ensure that nothing goes unprotected.
We utilize a proprietary “multi-pronged” risk-management approach that includes the following:
A) An extremely detailed risk assessment to identify all potential exposures
B) On-site surveys (where appropriate given current circumstances)
C) Meetings and discussions with other members of the client’s advisory team to coordinate risk management strategies, and to communicate our role in the overall process.
D) Stewardship updates with the client to assure the program remains up-to-date and to contemplate any changes which have occurred or may occur.
Implementing this total risk management approach to our client’s insurance programs allows our firm to stand apart from others, including mainstream carriers that just provide their clients with insurance policies. We include high-quality coverages from each of the country’s sophisticated insurance providers (including AIG, Chubb, and PURE) but recognize that that is just part of the overall management and mitigation of our clients’ overall risk.
We live in extraordinary times: information is available worldwide almost instantaneously, and even our current health crisis has traveled the globe in a very short time. Many clients have exposures that span the world and leave them at risk for many things that they may not have considered. These challenging times call for the services of a professional risk advisor who specializes in working with clients that have accumulated significant assets to provide a comprehensive and innovative approach to each client’s unique set of exposures.
Take Control-Protect Your Assets. Please send me a message, and I will arrange a personal risk assessment.
For more information on our services, visit our Private Client Group page.
Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.