Managing Risk in Business & Life

288 views
162 views

Published on

Four experts in risk mitigation and financial strategy give their key steps and approach to managing risk. Presented as part of Rising Tides Alliance Business Networking Group

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
288
On SlideShare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Managing Risk in Business & Life

  1. 1. Managing Risk in Business & Life Key insights into how you can protect and preserve what is important to you in life and business RISING TIDESALLIANCE Business Networking Presents Tuckahoe, NY May 14th, 2014
  2. 2. Presenters Linda Rey Co-Owner Rey Insurance Amir Asadi Financial Representative Northwestern Mutual Financial Network Jim Newhouse Owner Newhouse Financial & Insurance Brokers Camillo Monaco Supplemental Benefits Consultant Aflac
  3. 3. Linda Rey 1. Why Is Insurance Expensive Insurance costs are directly related to the profitability of the industry • Variable claims (increasing catastrophic claims) • Investment Returns (declining mutual fund returns) • Reinsurance Capacity and Cost (mounting global catastrophic claims trickle down and affect the insurance Insurance Companies buy) 2. Good News You should want to buy insurance for 3 reasons • Leverage • Insurance pays a large lump sum payable to you • Liquidity • You transfer the risk in protecting your assets’ value • Lawyers • Insurance companies provide you with a lawyer to protect against claims and thereby protect both the company and your risk of damages (especially if those might otherwise exceed your coverage) 3. Pay Attention and Take Responsibility • Review your insurance regularly • Discuss with your agent ways to maximize opportunities to protect and save • Know how your financial foundation will keep your household and family safe
  4. 4. Amir Asadi
  5. 5. Jim Newhouse Strategies for Building and Protecting Wealth 1. Create an offensive and defensive strategies to build and protect your wealth. • People tend to do piece meal planning when a perceived problem comes up, w/o coordinating all the products previously put in place. • It is important to do periodic comprehensive reviews to cover all the bases and minimize waste and inefficiencies. 2. Ask yourself 'What's important about money to you? • Whatever the answer is, what's important about that answer to you? Examples are living too long, dying too soon, college funding… • Do this 3 times and discover what is truly important, so that you can plan according to your critical areas of concern. 3. Make a 1-3-5 year game plan and implement the plan! Most people don't have the resources to plan and pay for everything all at once. • By having a game plan and periodically reviewing what's going on, there will be less stress and a better clarity about how to plan for your future, while reducing risk exposures. • Examples include: get life insurance for spouse, set up long term care plan, get key person or buy/sell life insurance.
  6. 6. Camillo Monaco Enhance the value of your employee benefit package— without additional increase in cost to you. Help give your employees additional financial protection under our wing 1. Workers’ Compensation • Mandated and calculated by your state 2. Major Medical • Workers’ Compensation and Major Medical Plans help protect your employees in the event of an accident or illness. But, they don’t cover the costs of everyday living expenses. 3. Aflac Policy Benefits • Aflac Insurance Policies pay a cash benefit in the event of an unforeseen accident or illness, which can help your employees pay for things like travel and treatment costs. Or help with other expenses like rent, mortgage, and utility bills. It’s a value-added benefit that your employees will appreciate. And one that doesn’t come at an additional cost to your company The benefits of Aflac policies don’t stop there—they can: • Give your employees the ability to directly receive and manage benefit checks, unless assigned. • Attract and retain good employees. • Provide potential tax savings when made available under a cafeteria plan. • Help employees with out-of-pocket costs and possibly mitigate the need for a salary advance or company loan. • Enhance the value of benefits into retirement, because Aflac policies are portable. Managing Health Risk Workers comp Major Medical Aflac Benefits Policy
  7. 7. Contact Info Linda Rey The Rey Insurance Agency, Inc. LIFE * AUTO * HOME * BUSINESS 219 No. Broadway POB 845 Sleepy Hollow NY 10591 P: 914-631-7628 ext. 303 F: 914-631-7409 http://www.reyinsurance.com/blogs/ It’s Our Policy to Treat You Like Family SM Amir Asadi Northwestern Mutual Financial Network 50 Main St., Suite 1520 White Plains, NY 10606 O (914) 367-0920 F (914) 681-6024 Amir.Asadi@nm.com Jim Newhouse NEWHOUSE FINANCIAL & INSURANCE BROKERS Providing Insurance & Risk Management Strategies since 1980 800 Westchester Avenue, Suite N409 Rye Brook, NY 10573 (w) 914-288-8829• (f) 914-288-8803 • jnewhouse@newhousefinancial.com • visit us at www.newhousefinancial.com PERSONAL INSURANCE • BUSINESS • AUTO • LIFE • GROUP HEALTH • LONG-TERM CARE • ESTATE PLANNING Camillo Monaco Supplemental Benefits Consultant Aflac (914) 393-5228 camillo_monaco@us.aflac.com
  8. 8. Rising Tides Alliance Rising Tides Alliance, based in Westchester County, NY, is a networking organization that believes networking should be more than handing out a business card. We are givers in the true sense. The true giver knows that giving is the tide that raises all ships, that it allows you to be a person of value to others while doing very well for yourself. • www.risingtidesalliance.com • Monthly member business to business networking • Meets monthly (2nd Wednesday) at The Old Stone Mill, Tuckahoe • Monthly small group or one-on-one facilitated networking • Business Growth Programs in Sales and Key Business Issues • Member Expert Panels • Membership Info Contact: Perry DiNapoli 914 804-6234 perry@antonees.com

×