What will tomorrow bring?  The ability to predict the future would be quite special, but how about an educated prediction based on data from other industries, the pace of change, and emerging trends in healthcare.  My prediction is “all patients will be able to obtain information (past disciplinary actions, medical malpractice history, personal information, etc…) in one fashion or another about their healthcare providers.” I say this for three main reasons: Transparency – in virtually every industry and all spaces of our lives we are becoming more transparent.   For example – Social media such as Facebook, Twitter, Google+, MySpace, LinkedIn, … Continue reading

You probably wouldn’t compare your agency company to a dating website, but there is a lot of similarity! Let me tell you how: Building a profile – no we don’t ask you to create a funny or descriptive username like “lovemachine” or “2HOT4U.” But we will get to know each other.  Questions will be asked about your current stage in life, what your goals for the future are and how we can design an asset protection plan that works for you in the long run. We help you find your perfect match – match.com has a lot of options for … Continue reading

Most people who purchase collision coverage on their vehicles do so to protect their out-of-pocket costs if in an accident. But what many people don’t know is that their out-of-pocket costs can change depending on how the vehicle is damaged. In the state of Michigan, there are three type of collision coverage to choose from. Below I will describe each of them in simple terms. 1. Broadform – it sounds the best, because it is the best. If you are the not at fault party in an accident, you don’t pay your deductible. Not a dime. This is important to … Continue reading

When considering a potential change in Medical Professional Liability carrier, there are many things to think about.  A traditional approach is to build a RFP and identify what items are needed|required from your future carrier and what information you would like to know about the carrier: A.M. Best rating Price of the product Limits of liability Percentage of claims settled vs. cases tried Historical experience in my state, region, and county With a Supreme Court decision pending, I believe it is safe to say that healthcare is in a state of uncertainty and is constantly changing.  Uncertainty and change yield the creation of … Continue reading

When it comes to giving clients advice on how to properly cover their vehicles, the first discussion point is this: if you got in your car, left the driveway, and got in an accident would you want your vehicle repaired? Most people say yes. This is always funny to me because usually that same person has told me two seconds earlier that they want the cheapest coverage available. It is always at this point where I transition into a little insurance education on the topic. The Three Layers of Coverage 1. Liability – aka “crash and burn” or “plpd.” In many states where insurance is … Continue reading

So I’m in Minnesota visiting with some friends and the insurance discussion comes up.  It usually does because my husband and I both work in the industry and our friends think we must have a lot of interesting table conversation.  Our friends live in a beautiful home – circa 1932, stucco on the outside, sprawling lawn and gardens, antique fixtures, lighting, and hardwood floors on the inside….you get the idea.  And when you step outside, every home in their neighborhood looks more beautiful than the next. When the home was purchased three years ago, it was a foreclosure – therefore, … Continue reading

Recent years have brought about an interesting shift in Medical Professional Liability programs for health systems.  Now more than ever, health systems are employing physicians.   Whether it is to improve the coordination of care or private practices aligning closer with a system due to the threat of decreasing reimbursements, it appears the future will yield more employed physicians than ever before.   What does this mean for risk?  The following thoughts are meant to challenge your thinking to see how the risks of the past differ from those of the future There are two primary areas of risk a health system … Continue reading

Teen drivers continue to be an important topic for our clients.  Lately, we’ve had many questions regarding different ways for parents to protect their teen drivers once they’re on their own.  Letting go is the hardest part, so here are four ways you can make that easier. There’s an app for that In the era of the smartphone, there is an interesting spin on this.  How about an app to help protect your teen driver?   There are many options out there including Protector which is an in-car tracking system that does some cool things like impair your child’s smartphone once the … Continue reading

To continue in my explanation of life insurance concepts, I am defining the difference between the two most basic types of life insurance you can purchase – temporary and permanent.  This is one of the most common questions I am asked.   Temporary Insurance – only lasts for the period of time you select.  When that period of time is up, it goes away.  Many companies offer a way to convert this into another product before it expires.  Typically this type of product does not have any cash value buildup.  An example of temporary insurance is Term Life Insurance, with … Continue reading

One of the most difficult discussions to have with a client is one about their life insurance program. Many people call in thinking they know what they want and some people don’t have a clue where to start.  The next series of blogs will focus on life insurance, some of the common types and the reasons to purchase.  Here are ten of the most common reasons people purchase life insurance.  Buying a Home College Expenses Family Living Expenses Business Loan Coverage Key Person Insurance Buy/Sell Arrangements Child Care Expenses Charitable Giving Final Expenses Estate Planning If you see yourself in … Continue reading