Archives for October 2019
RISK EDUCATION—It’s October and if you have children, they’re probably getting excited about Halloween.
They’re deciding on what costume to wear. Or as it’s sometimes phrased, “Who are you going to BE for Halloween?
“Besides all the fun, there’s also a goal in mind. Candy.
Children take a risk that they’ll get some candy when they knock on that door.
Some risks are worth taking.
Adults who skydive take a risk every time they jump out of a plane.
But they enjoy the ride, the epic view and the rush of adrenalin.
To them, skydiving is a risk worth taking.
Business owners work hard developing a product or service and then do their best to market it, so they can stay in business and make a living.
A major expense for businesses is insurance. And insurance is expensive. Insurance costs are usually among the top three expenses — right up there with payroll and supplies.
Not having insurance is not a risk worth taking.
You have to have insurance — and there’s not anything business owners can do about it.
OR is there?
What if I told you there was a way to “have your cake and eat it, too.”
To have insurance coverage, but not pay as much as you’re paying right now.
And to actually IMPROVE your coverage in the process.
Is that a risk worth taking?
A Movement To Know More
About half a century ago, a few business owners began to feel differently about paying all those insurance costs.
They wanted to have more knowledge about specific coverages and some of the other ins-and-outs of the insurance business.
They didn’t want to “just” renew every year and sign on the dotted line.
They didn’t want to hear that costs had “just” gone up and there was nothing that could be done about it.
They wanted more.
They wanted answers.
They wanted to know why…
- WHY they needed a specific amount of umbrella coverage.
- WHY their automobile policies needed to include certain limits.
- WHY deductibles of a certain amount were a good idea for one type of policy, but never another type of policy.
So, a few of these business owners studied deeply on the subject of insurance and became experts themselves.
They began to serve as specialists who could figure out exactly what they were getting with an insurance policy and what they weren’t getting.
And instead of having a business owner sit across from his insurance agent and just sign papers and hand over a check, these experts SAT BESIDE THE BUSINESS OWNER.
These experts explained the coverages in detail.
- They helped the business owner identify risks and exposures and then matched policies to their needs.
- They promoted the idea that coverages could/would/should be customized.
- And they made it clear they were no longer interested in paying for “one size fits all” insurance policies.
These Risk Experts helped to reduce risks.
And then another type of magic happened.
These experts began demanding lower prices and lower rates for the businesses they were assisting. And they had the gall (gasp) to shop around and even switch agents, if necessary.
Remarkably, as agents started to have to compete against each other, some insurance companies were able to find some “wiggle-room” and dropped their costs considerably.
These Risk Experts changed how the insurance game was played.
Unfortunately, some businesses still remain unaware of these extraordinary “middle-men.” Some owners/managers continue:
- To JUST renew.
- To JUST sign on the dotted line.
- To JUST hand over a sizeable check without further consideration.
Okay… enough mystery and drama (even if it’s spell-binding October). WHO are these Risk Experts and Specialists?
Today, they’re known as Risk Managers.
But… since nobody seems to like talking about insurance, Risk Managers remain one of the industry’s best-kept secrets.
We’re here to spread the word.
Hiring a Risk Manager is definitely a risk worth taking.
Besides the actions already mentioned, Risk Managers perform a multitude of services for their clients. (You can read about common issues here.)
Most importantly, Risk Managers:
- Make sure your business is fully covered;
- Make sure you are personally protected; and
- Make sure you’re getting the best insurance pricing available.
Our founder, Walter Haney, Sr., was among the first pioneers of the field of Risk Management.
Mr. Walter was once an insurance agent himself. But he felt so strongly about becoming an advocate for businesses, he moved from the selling side of the table to the owners/managers’ side to offer his advice and expertise.
Forty-three years later, he continues to thrive on helping businesses obtain the best coverages to match their exposures — while saving them money on insurance costs.
Mr. Walter averages 25-35% savings for his clients, although some companies have seen remarkably higher savings amounts.
No Tricks. Only Treats — And A Lot Of Hard Work, Dedication And Experience.
Why not call today to set up a FREE Cost Benefit Survey to see what type of savings your company can expect?
You can click here and fill out a form to be contacted via email or call us now at (800) 548-0117 to learn more about the no-obligation survey process.
A No-Obligation FREE Cost Benefit Survey Is Certainly A Risk Worth Taking.
(Photo Credits: Jack O Lantern – Ylanite Koppens/Pexels; Trick R Treater/Pixabay.)