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“When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can oftentimes arrive at some very elegant and simple solutions. Most people just don’t put in the time or energy to get there. We believe that customers are smart, and want objects which are well thought through.” (Steve Jobs) Volatility is a common problem of investors and business owners alike. Business is volatile, and that volatility can deplete assets of a business faster than you can say “what happened?” What is the solution? For business owners the answer i
Is your business bullet proof? The great recession of 2008 was a reminder to business owners of the vulnerable state of our economy. Years have since passed, however the risks business owners always have had in the past, and continue to carry in the future serve as a reminder of the vulnerability of a business. Traditional third-party commercial insurance addresses some of these risks, however, there are risks still looming. These risks are high severity in nature, and low frequency risks which may interrupt a business. Savvy owners will set aside some profits for some potential losses, essentially self-insuring these risks, or leaving them un-insured. Here are some examples which may interr
Is COVID-19 interrupting your business? Every passing day makes this more and more a rhetorical question as everyone and every business is now affected by the coronavirus. I hope no person gets COVID-19, and I hope a cure or remedy is quickly found. Millions of people are now affected indirectly whether they want to be or not. The fact is, billions of dollars are being lost as a result, both directly and indirectly. “Under Armour last week indicated it expects to lose between $50 million and $60 million in sales as a result of the outbreak. Ralph Lauren, similarly, projected losses as high as $70 million, while executives from travel and hospitality companies such as Hilton, Royal Caribbean
Saturday I watched my son play in a volleyball tournament for the better part of 8 hours, enough time to apply some of the principles to Captive insurance…. Unforced errors. When a team doesn’t create their own mistakes, they usually win. Having an experienced team of administrators, legal team, and advisers in the Captive space eliminate unforced errors in execution of your insurance company. Playing within the lines. 99% of the games, the action, the process is and was played within the lines. There are different lines, within and surrounding the court in which all parties must compete. Over the years, the Captive insurance lines continually have become clearer and clearer to see. This
