Four key strategies for the changing reality of natural disasters

In recent years, weather and climate disasters have become increasingly frequent and severe, with many events causing at least $1 billion in damages. These events include everything from winter freezes and wildfires to droughts, floods, tornadoes, tropical cyclones, heat waves, and hailstorms. What’s striking is that many of these disasters have affected areas that were not previously considered vulnerable and highlight that natural disasters no longer follow predictable patterns. The reality is that every region is at risk. Climate change and shifting weather patterns have brought significant weather events to areas they never threatened before: Tornadoes in the east: Systems once centered in the plains are now migrating to states as far away as Wisconsin and Georgia. Winter storms in Texas: Deep freezes, the worst lasting weeks, are now near-annual occurrences. Wildfires in high-rainfall states: Look at Hawaii’s unprecedented event in 2023. Flooding in the southwest: Most recently, normally arid areas of Arizona were deluged after record snowfalls in the Rockies resulted in unmanageable runoff. Wind has become a critical factor in the majority of natural disasters s unrivaled speeds and changing patterns turn small fires into uncontainable events and broaden the strength as well as the reach of hurricanes. Since all signs suggest this pattern will continue, we believe that the best path forward is for all clients, wherever they live, to be proactive in their natural disaster risk management planning. More so for types of damage, they might not historically think to expect. Here are four key trends we’ve identified as crucial for today’s natural disaster risk management: 1. Have a maintenance plan If your local area has not been impacted by weather-related events in some time, it’s easy to let related maintenance fall by the wayside. However, as damage-causing events are more common than ever, it’s important to stay vigilant. This includes: Safeguarding the exterior: Once the barrier to your house is broken, damage can increase exponentially. So, keep trees trimmed, clear brush and clean gutters, inspect the roof, siding, windows, and repair as well as caulk as needed. Inspecting the interior: Maintain furnaces and replace filters, replace rusted parts in water heaters, and install automatic shut-off devices on water lines. 2. Backup power is now essential Prepare for a potential loss of electricity with a diesel or propane generator. (Solar panels are not necessarily the best solution, because they can be ripped off and rendered useless by wind and convective storms.) Utilities now shut off power preemptively, especially when winds are strong, to decrease wildfire risk. At the same time, weather-event-induced outages last longer and reach further. Without power, your property quickly becomes even more susceptible to damage and loss: alarms don’t function, mold sprouts, and water lines freeze. 3. Establish an evacuation plan In emergent situations, the people who have already mapped out and practiced evacuation routes are often the safest. So, the best time to create those plans is right now before any threat is imminent. When developing this plan, be sure to document all the details and share this with your property managers and caretakers to ensure everyone is well-practiced and informed: Artwork: Get custom crates crafted to hold your most important pieces and purchase fireproof blankets for outdoor sculptures. Create a fireproof bunker to store the pieces if that’s feasible. If not, arrange for a location to store your collections so they are well protected. Cars: Construct a weather- and fire-proofed garage, or secure a safe place off the property, preferably an inland location. 4. Create an inventory list In the event of a loss, you will be asked to present an accurate inventory with any claim you make. You can hire a professional for the task or do it yourself; be sure to include photos as important pieces of visual documentation. At the very least, make a video as you go from room to room, capturing all your valuable pieces. Ensuring the security of your inventory is crucial. Storing in a hardware wallet, akin to a flash drive, provides robust protection, even in the face of natural disasters.  Given the impact of significant weather events felt across the country, taking a proactive role in your property’s risk mitigation not only minimizes the possibility of significant loss but helps make your property more insurable. With limited coverage options and carriers evaluating potential customers so closely, a well-maintained home with a detailed risk management plan could be a deciding factor. If you have any questions about preparing your home for natural disasters or other risk mitigation concerns, don’t hesitate to reach out. ...

The impact of natural disasters on the insurance industry

With predictions of another season of significant weather events in the air, it’s important for us to give you an update on the current insurance landscape. The insurance industry is constantly evolving due to many factors and our goal is to keep you fully informed so you can better understand what is happening, why, and what you can do to mitigate the impact on your insurance program. The insurance industry is in the midst of a correction that largely began in California a few years ago and continues to spread across the country, particularly to regions most susceptible to wildfires, hurricanes, and other catastrophic climate events. Despite this, Americans continue to move into these areas, and that has put a serious strain on insurance carriers, which, in turn, is increasingly impacting even less-vulnerable areas. In the past five years, the U.S. has experienced 89 weather-related events that caused at least $1 billion in damage, and that trend is not abating. In 2022 there were 18 separate billion-dollar events making it the third most costly year on record for hurricanes, freezes, severe storms, wildfires, and floods. Floods, in fact, are the country’s most frequent and costliest natural disaster, now occurring often in areas not previously considered to be high-hazard ones. All of which means premiums continue to climb higher, non-renewals are more common than ever, and it is increasingly difficult to obtain coverage, wherever you live across the country. This is no doubt, frustrating news to clients but does have a silver lining: Several years of navigating this market has made our team extremely well equipped to guide you through its challenges and find creative solutions best fit for your unique needs. Three factors driving the market correction Insurance carriers engage in a constant struggle to sustain an economic model that allows them to pay the broadest number of claims. This moment in time remains a particularly tricky one for them because … 1. Capacity is low. Today’s carriers are significantly overexposed after decades of securing increasingly expensive homes in areas that have borne catastrophic losses from weather events. Even premiums that may seem unreasonably high to individual policyholders do not sufficiently cover carriers’ aggregate risk. Not only has this overexposure made carriers tighter with rates, but it has also made them more likely to refuse coverage altogether. This is the case in affected and unaffected areas alike, especially for owners of older homes that are not fitted with the latest protections or do not meet current building codes. A similar reluctance is occurring in areas like New York City, where aging infrastructure makes carriers wary. 2. Reinsurance costs are high. If carriers were left to pay off losses solely with the money they took in from premiums, insurance would be unsustainably expensive. That’s why they support their own exposure with reinsurance, essentially, coverage for losses they can’t cover on their own. Reinsurance guarantees carriers have enough cash no matter the cost of a loss. That said, the current combination of increased catastrophic events and heavier concentrations of multi-million-dollar homes in vulnerable areas impacts both insurance and reinsurance carriers. In fact, so drastically, reinsurance is now much costlier than before. When those rates rise, it makes it that much more complicated and expensive for carriers to provide adequate coverage for clients. There comes a tipping point when reinsurance becomes just too costly, especially government-regulated ones that are required to carry a certain surplus. 3. Inflation is making everything worse. The cost of replacing almost everything is significantly higher these days. Labor and materials are at sky-high prices because of ongoing supply-chain issues and skilled-worker shortages. Vehicle repair costs, to take one example, have risen steadily, and faster, in the past two years. The latest premium appliances may be more technologically advanced, but that also makes them more expensive. Much more basic materials such as paint, lumber, roofing and plumbing are pricier, too. And these costs continue to climb higher after a catastrophic event which puts pressure on available resources. Smart risk management strategies We continue to provide innovative solutions to help protect you and your belongings. But we also want to put you in the best possible position to ride out these challenging times. Specifically, we recommend that you… Do everything in your power to avoid a loss. Yes, accidents and climate events will unfortunately happen, but you can better prepare your home and property for both. Simple pre-emptive steps such as creating a brush-clearance zone in a wildfire-prone area or undergoing a windstorm mitigation inspection in storm-heavy areas are crucial. We can also help you schedule walk-throughs with professionals, who will spot potential trouble areas and recommend preventative measures. Likewise, we encourage you to embrace the available technology to minimize the likelihood of water loss or wind damage such as water leak detection devices and more. Protect your insurance coverage. A history of previous claims, even a short one, is often a strong predictor of premium hikes and non-renewals. It can also make it more difficult to secure new coverage. Thus, we encourage you to speak with your insurance professional prior to making any potential claim, so we can help you decide how best to proceed. (In some cases, that means taking on the expense yourself if possible.) Choose coverage strategically. If, as we suggest, you plan to file claims only in the most onerous scenarios, you can lower premiums by choosing higher deductibles. Other situations may call for you to self-insure or partially insure. For example, if your home has the best-possible wind protection and you do not carry a mortgage, foregoing wind coverage to make the premiums more reasonable might be a viable option. Contact us before signing a contract on a home: If you are considering buying in a risky geographic area, your broker can tell you if you will be able to purchase coverage—and whether the cost will be prohibitive. We understand that this is an extremely challenging market, but we are confident that we can help guide you to make it more manageable. If you have any questions about the current state of the market or whether your personal portfolio is adequately protected, please know we are always here to help guide you and your family.   ...

What you need to know about wind coverage

These days, the proverbial “winds of change” have transformed into literal threats, causing significant and escalating wind-related damage. This damage is no longer confined to traditionally affected areas. To mitigate exposure, insurance carriers are now reducing coverage, which could impact your insurance program, regardless of your property’s location. Here are four key points to understand about wind coverage— and what actions you should take in the face of these shifting currents. 1. Wind damage escalates quickly. Severe winds can turn everyday objects, like lawn furniture or garbage cans, into dangerous projectiles capable of breaking windows. Once the integrity of your home is compromised, it can create a vacuum effect that sucks in debris and water, leading to extensive structural damage. Similarly, tiles torn from the roof by wind can open a hole, allowing rain to pour in and cause significant water damage. 2. High-wind events are impacting more regions. Climate change is leading to more frequent and severe wind events, even in areas that were previously unaffected. While Southern coastal areas like Florida, the Carolinas, and Texas are still most at risk, regions further north and inland have also been impacted. Hurricanes are becoming stronger, with more Category 4 and 5 storms. The Midwest, meanwhile, is also undergoing greater wind damage from intense convective storms and tornadoes. In all cases, weather models predict these trends will continue. 3. There are effective strategies to help windproof your property. Making your property as windproof as possible is crucial to minimize the likelihood of loss and maximize insurability. Even properties in high-risk areas can be better protected against Category 5 winds with the right measures. Many high-risk areas, like parts of Florida, have strict building codes that offer guidelines for wind proofing. Key protective measures include: Securing roofs: Regularly inspect roofs and address repairs promptly. Ensure roofers follow guidelines for nail-spacing and materials designed for high-wind resistance, and that construction conforms to the latest codes. Strengthening windows: Install high-wind-resistant windows or hurricane shutters. Clearing exteriors: Trim trees and branches near structures and regularly remove debris throughout your property. Before a storm, bring in outdoor items like lawn furniture, garbage cans, and anything else that could be tossed around. 4. Collaborate for the best coverage. Much like wildfire insurance in California, carriers are becoming increasingly cautious about covering wind-related damage. This trend, which began with the destruction caused by Hurricane Andrew in 1992, has led to more restrictive coverage each year. Wind coverage is generally a component of homeowner’s insurance, but some states, such as Florida, carriers can separate it, offering it with higher deductibles or excluding it altogether. Securing wind coverage can be both challenging and costly. Working closely with your broker is essential to determine the best strategies for covering both existing and potentially new properties. Our team has deep expertise in this market, which makes us best positioned to secure coverage for you, either through discrete policies or creative outlets like non-admitted insurance companies. Likewise, we are prepared to fight for your claims in situations, both clear-cut and otherwise. In today’s climate, understanding the specifics of your insurance policies is more crucial than ever. Many clients are opting for higher deductibles, hurricane deductibles, and certain limitations or exclusions to lower their premiums, which can leave them more vulnerable after a storm. If you have any questions about wind protection or your coverage, please reach out at your earliest convenience.  ...

Demystifying the claims process

As insurance professionals, we have a front-row view of life’s precariousness, witnessing again and again how things can change in an instant. A client arrives home from a celebratory dinner to find a flood caused by a burst pipe has damaged her art collection. A leisurely ride downtown totals the classic car as an uninsured motorist runs a stop sign. Or an uncontrollable wildfire razes the family’s summer compound. Having witnessed such misfortunes and the rebuilding—of the homes, collections, and lives—that follows, we have learned that an experienced advisor by your side during carrier negotiations can minimize added stress during the claims process. That is why we dedicate tremendous resources to our claims advocacy responsibilities. When the worst happens, you deserve to have experts at your side to guide you all the way to a finalized settlement. We also know that the more familiar you are with the process beforehand, the better things are likely to go should you need to make a claim. To that end, this piece highlights all you can expect when filing a claim and what you can do to help ensure the experience is a smooth one. What to do in the immediate aftermath of a loss (or if trouble is imminent): A lot of emotional but crucial decisions will need to be made when calamity arises, but how you act in the moment can have a great impact on how your ensuing claim plays out. Setting a course of action beforehand will help get you to a best-case outcome. Here are some things to keep in mind. Before you do anything else, make sure everyone is safe. When a dangerous event is on its way, your first concern, of course, is getting family members and any employees to a secure location. Only then should you consider going back to collect whatever possessions you can. Similarly, in the immediate aftermath of an incident, take stock of everyone’s well-being before making any other moves. Stay ahead of the situation. As soon as you know that a damaging event is working its way towards you, contact your account executive so they can begin a claim, just in case. Inevitably, resources are scarce after such events, so you want to be first in line with carriers, adjusters, and contractors once the trouble clears. If your property emerges without any significant damage, we can help you close out the claim. Your first insurance-related call should be to your advisor, not the carrier. You’ll notice in the item above that we suggest you contact your account executive to begin a claim. That’s because our specialists have countless experience navigating situations of all kinds. For starters, they can peruse your loss history and assess the extent of the damage to determine if filing a claim is even in your best interest. If it is, they will keep the process on track, including filing expeditiously. They know carriers need to be given the best chance to determine the cause of a loss, and if you wait too long and the cause is no longer determinable—for instance, if repairs have been made—you may be denied restitution. Most important, what is said in and around the filing of a claim can alter what a carrier will cover. You can count on your team to position losses to your advantage. Always work to mitigate further damage. After the initial loss or crisis, most policies require you to do whatever can reasonably be done to minimize the damage from getting worse. Your advisors will be happy to put you in contact with the companies that dry out wet walls, patch roofs or temporarily fix burst pipes so that mold doesn’t grow, or the water damage doesn’t spread to other areas. It’s important not to throw things away. It’s perfectly understandable to want to begin cleanup efforts right away, but you need to fight the impulse. Every damaged item has to be inventoried and documented by the insurance adjustor. Any property that has been discarded will not be covered. What to do once a claim has been filed: The good news is that the claims process can yield satisfying results in as few as 10 days (for, say, a lost piece of jewelry). On the other hand, you might have to wait a bit longer—six months or more—if you are waiting to be compensated for major property damage even longer still if a liability suit is involved. Whatever the case, here are some steps you can take to keep forward progress: Prepare for the adjustor’s inspection. As the named insured, you will be the one speaking with the carrier’s representatives throughout the process. Again, what you do and don’t say has the potential to affect the resolution, so keep responses simple and direct. Most of all, avoid volunteering information. For example, if there is a case of water damage, suggesting seepage in the foundation may move your claim to a denial. Better to say you aren’t sure where the water is from and leave it at that. Get estimates for repairs. You will need to provide a quote from a contractor, repair shop, or whoever will be fixing the damage you have reported. (Alliant’s claims team can provide recommendations for such vendors and review their quotes and backup documentation.) If this is too much for you to tackle amid the post-event chaos, there are vendors who oversee quote-collections and rebuilds for a percentage of the reimbursement. Likewise, there are those who can inventory the damage for you. Be ready to negotiate. Once all documentation and estimates have been gathered, a carrier will offer a reimbursement figure. Your claims team will be invaluable here too, helping to reconcile the inevitable gap between the actual cost and proposed payout, giving you the best chance to recover an appropriate amount. Make sure the check is made out to the right person. Carriers are legally obliged to issue settlement checks to the named insured, and that can be confusing when that entity is in fact a family or LLC without a bank account. (We suggest that you look into this now with your account executive, and make any changes, so you won’t have to deal with this issue at the same time that you are dealing with losses.) It is worth noting that when a loan is involved, the carrier must also be listed on the check, and this often gets tricky, as every bank has its own fund-releasing procedure. One workaround is to ask the carrier to write the check directly to the vendor. As mentioned above, it is important to keep in mind that filing a claim is not always the right move, and that fact is truer than ever in today’s difficult market. In fact, we offer this piece of advice: pay out of pocket for any amount that will not cause you significant financial stress and save claims only for catastrophic losses. We recognize that this may sound like counterintuitive guidance, given that you pay good money for your coverage. Unfortunately, accruing too many claims can result in nonrenewals and higher premiums, and both of those outcomes will ultimately cost you more. Hopefully, you will never need to make these difficult calculations or file any claims. Should you need to do so, though, we believe that your coverage is only as good as the claims experience it prompts, and we will do everything in our power to make it as seamless and positive as we can. ...

A common claim explained: water loss

Too often we have seen a minor drip turn into a major headache. Whether from a burst pipe, a defective ice machine or a leaky faucet, water loss is the second-most common claim made by our clients. In fact, one of our carriers has found non-weather-related water trouble to be the primary source of interior property damage, resulting in almost half of such claims and, on average, a three-month dislocation. Another of our carriers, sees it as the main cause of loss in luxury homes, more common than weather-related flooding, fire or theft. Compounding this hazard is the fact that once a problem arises, homeowners are twice as likely to suffer more. Yet, water loss is by no means an inevitable occurrence. The following guide explains the eight most important things to know about dealing with water damage. 1. Damage caused by weathered-induced floods is not considered “water loss.” We have written about this before but it bears repeating because it can be confusing and is quite consequential: Damage due to rising water from heavy rains, hurricanes and other weather events is only covered by flood insurance, not homeowners insurance. Because of the increase in such situations—not least, in previously unaffected regions—we now recommend that all homeowners include flood coverage in their insurance program. 2. Aging urban infrastructure is prone to significant water loss, and it’s not always clear who is responsible for covering the damage. Typically, the building is liable for anything that occurs behind the walls and unit owners or shareholders are responsible for anything that happens inside their individual apartments, but this arrangement is dependent on the governing agreement and thus varies. In any case, it can be hard to ascertain exactly where a leak emanates from. Worse, even if you know water is coming from your upstairs neighbor’s apartment, you still have to prove their negligence, and that is a high bar; something like failing to attend to a toilet that begins to run continuously doesn’t make the cut. (A destructive party or faulty renovation, on the other hand, might.) Whatever the cause, you will most likely need to file a claim with your broker, who will work with your carrier to then subrogate to the other homeowner’s policy, if possible. 3. Southern homeowners now must consider the possibility of freezing temperatures. Most residences in states like Texas and Tennessee were not built to handle major mercury dips. Meanwhile, flash freezes—and the pipe bursts that often result from them—have become more likely. If you live in these newly susceptible areas, it is worth discussing preventative measures like adding water shutoff devices and a low temperature monitor with a contractor. Similarly, if you are embarking on a major renovation or rebuild after a loss, be sure to incorporate the same precautionary measures used in northern homes, such as, insulating exterior-facing pipes. 4. Use best practices to attach appliances to water lines. Washing machines, dishwashers and refrigerators—not to mention sinks, showers and toilets–are major perpetrators of water damage. Whether you live in an apartment or house, make sure contractors and installers use top-quality hoses and piping as well as the hardware that attaches it to the plumbing. Though workers often default to more cost-effective materials, asked-for upgrades should not add significantly to your cost. It can be well worth the expense. 5. Modern conveniences can cause inconvenient damage. With advances in smart technology comes the increased potential for problems. We regularly see damage caused by stand-alone icemakers, touchless faucets and other sensor-enabled appliances. If you want this kind of equipment in your home, make sure you also incorporate a shut-off device (see below). 6. Smart technology can also prevent leaks. Automatic shut-off devices are one of the best ways to protect your home. Installed by a plumber, they monitor typical water usage and automatically cut the flow when something unusual is detected. They also send alerts to your smartphone, so you can respond to the issue quickly, even if you are away. Similarly, you can install point-of-leak sensors under kitchen faucets, in bathrooms and anywhere else that water damage is likely to occur. Many monitor humidity and temperature, too. Low-temperature monitors are especially crucial in colder climates, alerting you or your caretakers to raise the heat if need be to prevent pipes from freezing. Note: Many carriers offer premium discounts to those who install such precautionary tools. 7. Addressing leaks immediately keeps mold from becoming a secondary issue. You can not see what is transpiring behind your walls; what looks like a manageable amount of damage on the outside can be building up to a massive mold problem on the inside. It’s crucial to bring in a remediation company after any water event to dry out everything sufficiently so the problem doesn’t grow out of hand. That can happen fast, especially in humid climates. It’s important to note that mold damage independent of a water loss is excluded on most homeowners policies. In fact, typically only a minimal amount of coverage is included for mold that forms due to a covered water loss. Depending on your state and carrier, higher limits could be available and should be added to your program. Be sure to consult with your broker about what options and limits might be available to you. 8. It may not pay to put in a claim for water loss. Statistics show that if you sustain one water loss there is a high probability another is to follow, and a pileup of offenses can present as an undesirable profile to an insurance carrier. The result: higher premiums or, worse, a nonrenewal. If you undergo water-related damage, contact your broker immediately to discuss next steps. If, for example, you have $15,000 worth of damage but a $10,000 deductible, it may make more sense to pay out of pocket rather than add the loss to your claim history. This is always a case-by-case calculation, though, so consult with your insurance professional. If there is a silver lining to the worrisome ubiquity of water loss, it is that we have become experts at handling it. Should you have any questions about prevention or coverage, don’t hesitate to reach out. ...

Protecting yourself in an ever more litigious world

Accidents happen. Even if you do everything to maintain a low profile— adhere to the speed limit, keep plenty of distance between you and your neighbors—there is still a rising chance that you will be the target of a costly lawsuit whether or not you are at fault. This is even truer for affluent individuals. To help you better understand the risks and mitigate any losses, we asked two of our Private Client team leaders, EVP and executive managing director, Cindy Zobian (CZ) and first vice president Steven Kent (SK), some frequently asked questions around personal liability in today’s ever litigious world. Why is it important to talk about personal liability? And why now? CZ: Simply put, people are more likely to sue one another today than ever before. Yet, we still see successful individuals and families who do not have enough personal liability coverage. These cases often involve auto accidents or injuries that occur on someone’s property, but claims can arise in nearly any situation. For example, a teenager who is accused of cyberbullying or a golfer who doesn’t yell “fore!” and then hits someone with a wayward shot. Expect their victims to sue, particularly if they perceive the other party to be affluent. SK: That’s true. I think it’s fairly common knowledge that affluent individuals are targets for lawsuits. However, you don’t have to be driving a Maserati to be targeted. There are so many ways for someone to conclude you are successful. Social media makes it easier for people to determine that you have money and would be worth the effort to sue. For example, if your profile has pictures of you standing in front of your Malibu mansion, you are more likely to get sued than if you’re standing outside a modest ranch. It’s important to be mindful of what you are posting publicly on social media. What if my lifestyle isn’t conspicuous? Will I need less liability protection? SK: Not necessarily. The affluent are more likely to live, work and play around people who own things that are costly to replace if damaged. CZ: Exactly. For instance, in one extreme case, a fire broke out in a client’s apartment in Manhattan. Their neighbors’ apartments were damaged. In fact, there was considerable smoke damage in one unit, which affected their neighbor’s priceless art and rare antiques collection. In addition to the damage, the residents expected to be put up in nice hotels while the repairs were being made. Our client’s insurance company ultimately paid tens of millions of dollars in claims. But most high-net-worth people are properly protected, right? SK: Excess personal liability insurance, often called “umbrella” policies, cover you against claims of injury to people and damage to property. Typically, your auto and homeowners’ policies have coverage included up to a certain limit. Umbrella policies provide additional protection over and above that limit. When we meet new clients it’s not that uncommon to find that they have very little or no umbrella coverage. That’s why it is so important to have a conversation about this. CZ: Accidents happen. For example, a few years ago, one of our clients had a relative visiting from out of town who borrowed his car. Unfortunately, the relative was not familiar with our roads and ran a stop sign, causing a bus to swerve onto an embankment and roll over. While there weren’t any passengers on the bus, there was a pedestrian riding a bike on the embankment who sustained serious injuries. This is an extremely unfortunate case but the bottom line is that while our client was not actually driving the car, he was still sued. How do these types of situations generally pan out? CZ: A few cases go to trial, but most are settled privately. We’re also seeing larger settlements regardless of who was at fault. We had a client hit a pedestrian who was texting while he was walking across the street. The driver, our client, had the right of way. Regardless, his insurance company ultimately paid out a six-figure settlement. Is there such a thing as too much liability coverage? CZ: We get this question a lot which is why we developed our proprietary tool, What’s My Liability. This tool calculates a suggested range of liability coverage. There’s no magic number to determine the correct amount because it really depends on the value of the assets that are being protected and the individual’s risk tolerance. We strongly suggest that you talk to a professional for further guidance. SK: For most of our clients, I’d say that if their limit is below $5 million, they are effectively uninsured. You can get coverage up to $50 million with little hassle. We do have a few clients who are in the public eye and are more concerned about being magnets for lawsuits. For reference, those clients carry more than $100 million in personal liability coverage. Any last thoughts? CZ: It’s easy to get this wrong, and the ramifications can be serious and expensive. So it’s always worth a 10 minute chat with a professional to make sure you and your family are properly protected. We’re here to help! ...