Personal Risk

A personal risk management plan provides financial security through the protection of physical assets and protection from the potential loss from unforeseen liability exposures. The proper plan includes: Defining objectives – what are the desired goals to achieve; lifestyle risk analysis– what is at risk and why; identifying and selecting risk management techniques such as insurance policies; implementing the chosen risk management techniques and monitoring the risk management program to ensure it continues to meet the identified goals and objectives.

A personal risk management plan helps individuals and families “live their lives” by proactively managing the risks associated with their lifestyle. Risk must be carefully identified and the solutions used to cover those risks will vary from the placement of insurance policies to the execution of risk mitigation techniques, such as catastrophe preparedness plans, low temperature monitoring and water shut-off valves.