PEACE OF MIND
Change is a sure thing .
The last two years have emphasized the constant cycle of change , demanding that we adapt and overcome almost daily . But change isn ’ t all bad . The pandemic environment has taught us so much as individuals and professionals . Change stretches us . It pushes us to do more , be more , know more , juggle more , appreciate more , and help more . During uncertain times , we can learn a lot about ourselves and each other . We can grow together and emerge stronger and more resilient .
Yes , the market , our lives , and our communities have experienced a tremendous amount of movement in so many ways . While riding these shifting waves , we can easily forget to press the pause button to take stock of how these changes have impacted our lives and businesses . How can we apply the lessons we ’ ve learned ? What risk management strategies and resources are in place to mitigate potential losses ?
Despite ongoing change , you can Be Sure .
As we surface from two tumultuous years , there ’ s no better time to reflect on the change that has occurred so we can put in place plans , protections , and resources to prepare for whatever life brings next .
We invite you to take a moment to think about changes you have experienced at home and work . The goal : Know your exposures . Know your limits . Know your options . Following are some key areas to consider — and in the pages of this edition of DIG , we ’ ll delve into these topics while providing Be Sure checklists to guide you .
CLOSE COVERAGE GAPS
Did you celebrate a graduation , get married , or welcome a new baby ? Did your teen get a driver ’ s license , or perhaps you have younger children and decided to ramp up home entertainment with a backyard trampoline or pool ? Did your significant other give you a diamond for Valentine ’ s Day ? And what about those home improvement projects you completed during the pandemic to make home a sweeter place to live , work , and play ?
These events — changes — matter in the insurance arena . Our lives are ever evolving , and a regular review of exposures and limits is necessary so you can close coverage gaps . At the end of the day , there is a way to minimize uncertainty . Connect with your insurance adviser and discuss changes so you can understand what coverages are in place . You don ’ t have to wait until renewal time to edit and update your insurance .
IDENTIFY EMERGING RISKS
For many , the way we work and spend time at home has shifted significantly . If your office is now in a spare bedroom , is your critical data secure ? Today ’ s more fluid and hybrid workforce can lead to new business risks including cyber liability or how to manage workers ’ compensation claims arising from incidents at your employees ’ homes .
Across many industries , the challenging labor market is pressuring employers to hire individuals whose inexperience can expose a business to greater risk . To Be Sure , managers should revisit training programs , enhance data security and risk management practices , and increase the frequency of safety meetings .
Perhaps you ’ ve expanded your workforce or added new equipment that requires coverage .
When you factor in supply chain disruptions and inflation , the cost to replace or repair what ’ s lost may be greater than you planned . What to do ? Again , a conversation with your insurance advisor will help you identify new exposures and evaluate whether the limits currently in place are up-to-date given increasing values . Plus , these discussions may uncover other strategies you can use to mitigate risk .
KNOW YOUR OPTIONS
The good news about change is that coverages and insurance products also move with the market , evolving to keep you secure . And our portfolio of resources keeps growing . We ’ ll connect you to a variety of experts who deliver training and other programs to improve
BY : CINDY HALL EXECUTIVE VICE PRESIDENT
wellness , sharpen skills , and beyond . ( Check out page 29 where we share the benefits of yoga for first responders .) What we ’ re saying is , you ’ re not alone . As your life and business evolve , there are options to close coverage gaps , manage emerging risks , and position yourself to embrace the opportunities that change brings . +
Be Sure
Checklist
• Check in with your insurance advisor to discuss life changes .
• Consider ways you have enhanced your property , from renovations to purchases .
• Identify your costs — how have inflation , supply chain disruptions , and a tight labor market changed the way you operate ?
• Ask about resources to help you mitigate risk and reclaim your peace of mind .
• Don ’ t wait until renewal to start the conversation with your insurance advisor .
Cindy Hall joined Deeley Insurance Group in 2016 , and is Executive Vice President . She has over 24 years of leadership experience with Fortune 500 companies within the food service and hospitality industries . 410-213-5539 • chall @ deeleyinsurance . com
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