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Devising personal risk management strategies

A new book 'Wealth Exposed' provides practical risk management and insurance advice for high networth individuals.

Wealth Exposed: A guide for high net worth individuals

While taxes and laws may differ around the globe, one thing remains constant and that is the need for high net worth individuals and their advisors to be smart about protecting assets and ensuring sufficient levels of insurance cover are in place to make sure they are not out of pocket when the worst happens.

A new book 'Wealth Exposed: Insurance Planning for High Net Worth Individuals and Their Advisors' addresses what individuals can do to protect families and individuals deal with these issues. Launched in New York and London, this  handbook from insurance and risk management expert Brian G Flood, CPCU, ARM, provides practical guidance and real-world solutions to help better protect those hard-earned assets.

Designed for high-net-worth individuals, their CPAs, lFAs, legal advisors, family office managers and others, Flood arms the reader with the knowledge and tools needed to protect themselves, or their clients from the real mayhem caused simply by failing to plan for the unexpected adequately.

Wealth Exposed provides a framework for creating a comprehensive personal risk management strategy and brings to life some harsh realities by alluding to numerous real-life anecdotes and case studies drawn from the author's case files.The book also discusses insurance solutions for homes and estates, household staff and prized collections, such as art, fine automobiles, jewelry, aircraft, watercraft, wine and more.

 Bob Courtemanche, Chairman of ACE Private Risk Services, said that the book illustrated the needs of high net worth families who have unique risk management needs and require specialized insurance products and service solutions to give such families the protection they needed.

Under-insured

Flood said that “many high net-worth individuals nowadays are under-insured, over-targeted in litigation and dangerously exposed to risks that can jeopardize their legacy and lifestyle. He added that Wealth Exposed was designed to speak to the “unique and underestimated challenges” high-net worth individuals face, but “in a way that is approachable, anecdotal and easy to understand.”

Flood is highly regarded for developing creative risk management solutions and concepts unique to each individual or organization. As Vice President of the New York-based Flood Group, which was established by his Grandfather more than half a century ago, he leads a team of both personal and commercial specialists to provide a complete suite of risk management services and products to a clientele that spans the country.

Flood said that during the last 50 years the company had determined that effective personal risk management begins with knowledge. As a result, education had become a major thrust of the Flood Group's client outreach and a key driver behind the penning of this book. “What you don’t know can definitely hurt you. Understanding and identifying where risk resides and the steps that can be taken to address such exposure is the first step to gaining peace of mind.

For more information on the book published by Wiley, visit: http://www.wealth-exposed.com/.

Posted by:

Angela
Madden

31 January 2014

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