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Your center for insurance and risk management tips, news and trends.

How Taking Managed Risks Improves Your Life

Posted by Parker Beauchamp on Sep 28, 2015

Image Above: My son Henry and I at the beach.

Note: This post originally appeared on The Huffington Post.

I love pushing myself to the limits and embarking on new, exciting adventures. Last year, I reached the summit of Alpamayo (an exceptionally steep peak in the Cordillera Blanca mountain range of the Peruvian Andes), and this past August I completed an alpine climb up Forbidden Peak's West Ridge

I also love staying in one piece and coming home to my incredible family. It’s all about achieving balance and carefully managing the risks I take.

Whether you’re starting your career or are the owner of an established company, your number one priority should be learning how to identify and manage risks. The same holds true if you’re planning an adventure or considering a major purchase. Mastering this skill in life and business will enable you to make informed, strategic decisions. 

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Topics: Risk Management

What’s Cooking? Unexpected Gaps in Your Restaurant Insurance Program

Posted by Parker Beauchamp on Sep 23, 2015

Between kitchen fires, food borne illnesses and liquor liabilities, there is plenty of room for disaster in a restaurant. According to the U.S. Fire Administration, an estimated 5,900 restaurant building fires are reported each year, resulting in an average of $172 million in property loss.

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Topics: Business Insurance

The Affordable Care Act Is Here To Stay. What’s Next?

Posted by Parker Beauchamp on Sep 18, 2015

Healthcare insurance has been one of the most talked about (and heated) discussions in the U.S. for the past few years, and especially of late in the presidential candidate debates.

Debates and confusion surrounding new standards resulting from the Affordable Health Care Act (ACA) have divided citizens’ opinions on where they stand.

Regardless of your political affiliation or personal biases, U.S. citizens are responsible for understanding the essential facts surrounding healthcare and insurance in our country.  With the recent Supreme Court ruling to uphold the ACA, affordable health insurance is here to stay.

Below, we provide you with an overview of legislative changes resulting from the ACA, new insurance options available, changes since the Supreme Court ruling to uphold the legislation, and what is yet to come for you and your insurance provider.

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Topics: Benefits, Insurance News & Trends

How to Grow Wealth Faster Through Proactive Risk Management

Posted by Parker Beauchamp on Sep 15, 2015

There are now 10.1 million millionaires in the U.S., up from 9.6 million in 2013. At the current rate, nearly 500,000 people will become millionaires this year, ushering them into what is often considered the threshold for high net worth individuals (HNWI).

Whether you are a HNWI or simply in a high tax bracket, wealth management brings its share of challenges and risks. Risk management is essential to protect and grow your personal wealth.

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Topics: Risk Management, Wealth Management

How To Create A Wellness Program That Benefits All

Posted by Parker Beauchamp on Sep 10, 2015

Employee wellness programs are growing in popularity.

According to the latest report from the Kaiser Family Foundation, 74% of companies offer some type of wellness program. These programs are usually offered in one of three ways—screening, interventions, or a combination of both. Screenings include risk assessments intended to discover health issues, while interventions include weight loss programs, gym memberships, fitness trackers and more. 

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Topics: Business Insurance, Benefits

A Decade Later: Lessons Learned in the Insurance Industry from Hurricane Katrina

Posted by Parker Beauchamp on Sep 04, 2015

Ten years ago, the country was taken by storm in the devastating wake of Hurricane Katrina. Katrina changed the lives of so many, destroying 300,000 homes and amassing somewhere between $96 billion and $125 billion in property damages. What’s even more shocking is that only $40 billion to $66 billion were consider “covered losses.”

So as the ten-year anniversary has come and gone, what have we learned as a result of these damages and extreme loss? Although Katrina caused traumatizing and immense catastrophe, homeowners, business owners and insurers learned some valuable lessons.

This post discusses two critical points of reflection — why individuals and businesses must have an emergency plan in place, and how the insurance industry has evolved to better evaluate disasters in the future.

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Topics: Business Insurance, Personal Insurance, Insurance News & Trends