717.625.3770
Client Login
  • Menu
  • Personal
    • Auto Insurance
    • Boat Insurance
    • Classic Car Insurance
    • Flood Insurance
    • Health Insurance
    • Home Insurance
    • Life Insurance
    • Motorcycle Insurance
    • Power Sports Insurance
    • Renters Insurance
    • RV Insurance
    • Umbrella Insurance
    • Watercraft Insurance
  • Business
    • Agriculture Insurance
    • Alternative Energy Warranty
    • Business Continuity Planning
    • Commercial Auto Insurance
    • Contractors Insurance
    • Directors & Officers
    • Employment Practice Liability Insurance
    • Errors & Omission Insurance
    • Liquor Liability
    • Manufacturer's E&O
    • Oil and Gas Insurance
    • Professional Liability Insurance
    • Restaurant Insurance
    • Workers Compensation
  • Research Center
    • Disaster Preparedness Center
    • Real Life Situations
      • Graduating From College Soon
      • Moving
      • Getting Married or Engaged
      • Having a Child
      • Taking a Vacation
      • Teen Will Drive Soon
      • Teen is Going to College
      • Remodeling My House
      • Getting Divorced or Separated
      • Retiring
      • Buying a Car
      • Buying a House
      • Buying a Boat
      • Buying a RV
      • Buying a Motorcycle
      • Bought a High Value Item
    • Auto Insurance
      • 11 Money Saving Tips
    • Boat Insurance
    • Condo Insurance
    • Earthquake Insurance
    • Flood Insurance
    • Group Health
    • Health and Fitness Business Insurance
    • Home Insurance
      • Save on Home Insurance
    • Life Insurance
    • Rental Car Insurance
    • RV Insurance
    • Umbrella Insurance
  • Client Service
    • Billing Questions
    • Policy Changes and Updates
    • Free Account Review
    • Claims
      • Read This First
      • Contact Our Companies
      • Contact
  • Client Portal
  • Contact Us
    • Contact Us
    • About Us
    • Companies We Represent
    • Meet Our Team
    • Professional Memberships
  • Privacy Statement
  • Business Trademarks
  • cyber liability insurance
  • Business Copyright
  • Business Insurance
  • Liability Exposures
  • protection from ransomware
  • Reputation Risk
  • Malicious Tampering
  • Product Extortion
  • Reputational Damage
  • Robertson Insurance Risk Management
  • Robertson Insurance & Risk Management
  • Accidental Contamination
  • Trade Secrets
  • ransomware attacks
  • Product Recalls
  • Business Patents
  • Robertson Insurance
  • robertson insurance and risk management
  • Risk Management
2018
  • April 2018 (1)
  • March 2018 (4)
  • February 2018 (1)
2017
  • March 2017 (5)
  • February 2017 (1)
2015
  • August 2015 (1)
2013
  • March 2013 (3)
2012
  • December 2012 (6)
  • November 2012 (1)
  • Uncategorized (0)
  • OSHA (3)
  • Risk Management (12)
  • Ransomware (1)
  • Ransomware Attacks (1)
  • Trucking (1)
  • EPLI (1)
  • Business Insurance (2)
  • Home
  • Rss Feed

Do You Really Know What You Are Risking?


By Neil Robertson
3/1/2017 6:00 AM

Do You Really Know What You Are Risking?

A couple of years ago, a friend called and asked to have lunch. We met and during the conversation I learned the reason for the meeting. My friend was selling and offering me investment opportunities paying a 100% return on the investment made. Despite the promise of significant returns, I told my friend I was not interested and shared an important principles I use to evaluate any opportunity.

I never risk more than I am willing to lose.

Risk Management 

My friend didn’t know it, but the “investment opportunity” was a multi-state Ponzi scheme. The investors, including my friend, lost 100% of what they put in. I dodged the bullet.

A client of our agency had the same experience not too long ago. After reviewing a construction contract for him, we made important suggestions to reduce the risk posed by the contract. The Contractor wouldn’t bend. Being unable to have the terms of the agreement modified to reduce risk he should not have been responsible for, the client chose not to sign the contract and walked. Even with all the work he put into winning the contract, he was unwilling to take a gamble on this project. To him he would be risking more than he was willing to lose.

Good move by our client as the Contractor who would not modify the agreement was eventually thrown off the job by the owner. None of the subcontractors were paid. Our client was not out the contract price nor did he have to pay legal fees to recover what he would have been owed because of his wise decision to avoid the risk the contract presented.

How about you? Do you understand what’s in the contracts you sign? Are you concerned that a couple of words in the contract you’re signing will come back to haunt you?

Will you be risking more than you are willing to lose by signing the contract that’s on your desk right now?

Risk Management

You can be confident and understand contracts. We help our clients know what they are getting themselves into by helping them navigate all the risk they face on a daily basis – not just the one’s covered by an insurance policy. Our goal is to be the one that comes along side you to help you. It’s a unique and different approach that we look forward to discussing in greater detail with you.

In the meantime, you will find a link below for a free resource we provide our clients to help them navigate the world of contracts. We want you to have it since we are passionate about helping businesses stay in business.

Understanding Construction Contracts

Idemnity Agreements and Additionally Insured Endorsements

With Experience Comes Knowledge

Robertson Insurance & Risk Management, formerly Avis Insurance, has met the insurance needs of businesses and individuals for over 30 years. At our inception, there were only two employees. We have grown dramatically in size and in the geographic area we serve, but we have not lost our perspective — every customer is important.


That's why when we say we want to have a conversation that goes beyond price and coverage, we are proposing to engage in a process that goes beyond an insurance policy.   When your risk program requires insurance, we have the experience and knowledge that builds trust with our clients that provides peace of mind knowing they are protected and have a plan to recover after a loss.

Call us today at 717-625-3770 

 

Possibly related posts:

  • The Insurance Pricing Cycle
  • Risk Management Strategies For Directors And Officers
  • The Importance of Building A Safety Culture
  • 4 Steps To Protect Your Business From Fires
  • Best Practices For An Employee Evaluation Program

Comments

Got something to say? Join the discussion »

Leave a Reply

Click here to cancel reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail

  •  

For a better tomorrow...

Learn More

Find Out More

  • Personal
  • Business
  • Client Portal
  • Stay connected

    Read Our Blog

    Main Office

    3399 Jetstar Drive
    Lititz, PA 17543

    Phone: 717-625-3770

    Hours:

    M-Th 8:30 - 5:00p
    F 8:30 - 4:30p

    sign in | © 2018 Robertson Insurance & Risk Management, All Rights Reserved Made by Agency Revolution in Oregon
    http://www.robertson.insure/