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Risk Management

Practical steps to identify, reduce, and insure the risks that matter most—at home and in the business.

Button up my risks
Download the 5 D Continuity Checklist

What is Risk Management?

  • What could realistically go wrong—and what that would cost.
  • Which risks to accept, reduce, or insure.
  • How much cash and credit to keep as a buffer.
  • The right deductible vs. premium trade off.
  • A simple plan if something happens: who calls whom, and when.

For business owners

  • Coverage for general liability, auto, umbrella, property, cyber, EPLI.
  • Protection for key people: disability (own occupation), key person life/DI, overhead expense.
  • Buy sell agreement funding and triggers.
  • Vendor/customer concentration risk and backup plans.
  • Continuity playbook for the 5 D’s: Death, Disability, Divorce, Distress, Disagreement.

What to expect

  • A one page Risk Map showing top risks, likelihood, impact, and action.
  • Coverage checklist with recommended limits and deductibles.
  • Continuity & incident playbook (contacts, steps, timelines).
  • Beneficiary and titling audit across accounts and policies.
  • Clear next steps and a short list of priorities by deadline.

Owner specific levers (pre /post exit)

  • Buy‑sell agreement: confirm triggers, valuation method, and funding (term or permanent).
  • Key person life and disability; overhead expense DI for fixed costs.
  • EPLI and cyber basics (MFA, backups, phishing training; incident response contacts).
  • Auto/fleet liability limits and driver lists; certificates of insurance for subs.
  • Umbrella sized to net worth + exposure.
  • LOC/HELOC and cash runway sized for payroll, taxes, and slow seasons.
  • Vendor/customer backup plans and data continuity.

Deliverables

  • Risk Map (1‑page) with priorities and deadlines
  • Coverage Gap Analysis and suggested limits/deductibles
  • 5‑D Continuity Checklist and Incident Response Steps
  • Beneficiary & Titling Audit
  • Premium & Deductible Optimization summary
  • Annual Review Calendar

Case Studies

Owner, plumbing contractor (age 46)
Retiree, single (age 71)

FAQs

How big should the umbrella policy be?

Enough to cover exposed assets and likely risks; common ranges are $1–$5M, adjusted for business ownership and driving profile.

Enough to cover exposed assets and likely risks; common ranges are $1–$5M, adjusted for business ownership and driving profile.

Enough to cover exposed assets and likely risks; common ranges are $1–$5M, adjusted for business ownership and driving profile.

Basic coverage plus security habits (MFA, backups, training) reduce the biggest threats at reasonable cost.

Often yes—higher deductibles can lower total cost if cash reserves cover small claims.

Ready to make the plan shock proof?

Button up my risks