October Luncheon

We hope to see you at the next Utah Chapter RIMS luncheon,Thursday, October 19th, at Little America beginning at 11:30 a.m. The presenters include LaMond Woods of Sentry West Insurance, and a Personal Lines underwriter and adjuster.  The topic, Floods, Hurricanes and Earthquakes: What Risk Managers Need to Know About Their Personal Insurance.

The discussion on personal risks of loss will cover the following: 

1)    Performing a detailed risk assessment of your insurance needs

  1. Avoid relying on cost of policy alone to decide coverages
  2. Avoid underinsuring your home as market values change – understand insuring to value coinsurance risks
  3. Assessing needs for specific insurance for known geographic risks, like earthquake and flood
  4. Assessing liability coverage limits (auto and general) to avoid putting personal assets at risk in the instance of an at-fault event (e.g. hitting a pedestrian in the dark)
  5. Home based business activities or services - coverage questions
  6. Volunteer activities, serving on a board of directors
2)     Understanding available insurance products
  1. Choosing the right deductible and setting aside money for an emergency
3)     Assessing needs for life insurance
4)     Completing an inventory of your home and contents
5)     Overall strategy