The Bull Stops Here Blog

Excellent blog by fellow insurance consultant and friend Scott Simmonds on things you need to be aware of when it comes to insurance fraud by agents…

Read the article

There is a 3-minute video that is worth the watch.

Be safe and be well.

This past Tuesday morning I turned on my desktop computer ready to tackle the day.  After hearing the familiar “bing” on my iMac, I was ready to dig in.  Then, the sound all computer owners dread to hear…

BONG…BONG…BONG

Accompanied by a steel gray screen and the repetitive “bongs,” I am smart enough to know this is no good.  After making several frantic calls, I drove down the Best Buy where I’d purchased my Mac with my protection guarantee firmly in hand.  The Geek Squad guy dressed in white short-sleeved shirt, black tie, and dangling earring informed me, “I think it’s either the motherboard or RAM.  We can ship it to Apple and they will fix it.  It’s still under warranty, but it will be two weeks.”

Two weeks!  As a sole practitioner consultant, this is what disaster means to me.  I consult clients on being prepared for a disaster and having a game plan in place.  It was time to see how sound mine was.

Feeling pretty good that my Time Machine back-up was firmly in place I came home and did some homework.  My regular tech guy is out of the country on vacation (you can’t make this up) so I called Apple Support.  I just made the switch to Apple so the iMac is the only Mac in the house.  I have three other PC’s to choose from.  Unfortunately, the Apple guy tells me, “Sorry.  Time machine only restores data to another Mac.”  OUCH!

The next day, I have no other choice but to head back to Best Buy to purchase a Mac Book.  I couldn’t wait two weeks.  Although I had internet access through our wireless, I had done a poor job of backing up my calendar and tasks.  I wasn’t sure where I was supposed to be the next day!  Bottom line, I needed to get the lap top.  I knew I would need one in another two months with both daughters being gone to school so might as well bite the bullet.

I unwrapped my new Mac Book and decided that I could probably figure out how to transfer my backup files.  How hard could it be?   Hard enough for me to erase our wireless network, open things that shouldn’t be opened, and cause more stress than I ever needed.  Fortunately, my goodfriend Al Ardon is a new IT consultant who lives only 20 minutes away. He generously came over at 6:00 pm to see if he could save me and clean up my mess.

It didn’t turn out to be very easy.  The two Macs weren’t talking with each other correctly and although I could see all my “stuff,” I couldn’t access it or see the contents.  Al was able to get our wireless network back so I was once again able to communicate with the outside world.  The bad news was that I still couldn’t see my calendar or tasks.

The next morning, I spent 3 hours on the phone with Apple support.  They speak a different language and I do and fortunately were very patient.  Al came over andwas able to bridge the gap.  Turns out, my messing around the night before was the cause of the “miscommunication” of the two pieces of hardware.  Between Al and Apple, they were able to restore my iMac info into my Mac Book just like it was at 9:22 pn On June 22nd.  As I sit here and type this blog, it’s peacefully and securely backing up.

The reality is that I made many mistakes in my own back-up plan.  Here are a few lessons learned and best practices you can take from my experience (by the way, if you do any work from home, these are critical):

1. Always back up your calender and contacts in several spots.  I didn’t have my Blackberry synced with my calender or tasks.  Big mistake.  I was fortunate not to miss any appointments.  Make sure you have at least one hard copy of your schedule two weeks out along with your electronic backup.
2. Have a backup tech expert.  Al was a life-saver for me.  His expertise was critical when I didn’t know where to turn.
3. Test a disaster.  Make sure you know where your gaps are in case it happens for real.  I would have known in advance that my Time Machine needed to speak to a Mac, even though it works on PC, too.
4. Don’t try to do it yourself if you have no reason to believe you know what you’re doing.  I should have called Al and Apple when I got home with the box.  This set me back some valuable time.
5. Be able to have some form of electronic communication - Smart phone, wireless, iPhone.  I was at least able to keep up with ongoing needs of clients.
6. Make sure you surround yourself with a smart team.  Mine were tech people like Al, Justin (who actually called me from out of the country) and the Apple Care people.   Who do you need to surround yourself with at a disaster?

As it turns out, my “disaster” didn’t cripple me.  In total, I lost 2-plus days of access to some documents and tools. Had I been better prepared, this would not have been an issue.  I had an expense of $850 for a new computer, which I would have had to do anyway.  Now I have another backup with it.  My Time Machine worked exactly as it should.  Because I had access to other PC’s and wireless, I was able to stay connected. 

What about you?  What if a disaster befalls you?  How quickly are you able to recover?  How quickly must you?

Take the time to answer these questions.  My little adventure in disaster recovery was a wake-up call for me and I’m in the business.  Learn from my experience and be prepared for yours.  In life, sports, and business, it’s not if something bad will happen, but when.  How well prepared you are will be for it will likely determine to successful continuation of your business.

Be safe and be well.

Dan

(c) 2009 Dan Weedin - All Rights Reserved

Recently, I have started posting personal insurance tips on my Twitter and Facebook pages.  I will begin adding them to this blog in groups of 10.  Here are the first 10.  To keep more current, follow me on Twitter.

Personal Insurance Tip #1 - If you own your 10+ year old vehicle, drop comp & collision. Save money - vehicles paid @ depreciated value.

Personal Insurance Tip #2-If you own jewelry valued over $1K per item, schedule it. There are limitations for theft on your home policy.

Personal Insurance Tip #3-Buy travel insurance. I never did before last year. I’ve used it twice in the past 3 weeks. Worth the small cost.

Personal Insurance Tip #4 - Video tape the rooms in your home. Pics worth a 1000 words after a disaster. Keep video off-site.

Personal Insurance Tip #5 - Learn to use a fire extinguisher. Really. You don’t want on the job training.

Personal Insurance Tip #6 - Stay away from the fences - Don’t park next to outfield fences. It tends to break your windshield!

Personal Insurance Tip #7 - Buy an Umbrella policy. Gives you $1M more liability overage over your auto & home. Normally under $200/year.

Personal Insurance Tip #8 - Stop bad distracted driving habits-cell phones, eating, shaving, reading newspaper, etc. DD as dangerous as DUI

Personal Insurance Tip #9 - 40% of Americans underinsured on their homeowners ins. by as much as 40%. Ask your agent to check your value.

Personal Insurance Tip #10 - Driving with lights on all the time saves lives. Make sure you can be seen 24/7 and keep your lights on.

More to come…

Be safe and be well.

It’s important to stay current on this issue, regardless of whether you are an employer or employee.  Latest article from the New York Times…

Read story

Be safe and be well.

I was recently asked by a journalist writing an article about renters insurance about why this coverage is important for both tenants and landlords.  Here is a brief synopsis…

Renters insurance is critical from the renters perspective because:

1.    It provides protection for all personal belongings including furniture, clothes, and electronics.  The landlord doesn’t carry any coverage for the tenant’s personal items, so they have nothing.
2.    It protects the tenants with personal liability.  Just like a homeowners policy, this coverage will protect the tenant for any claims from bodily injury and property damage.  This includes someone getting hurt on the premises, damaging anyone’s property by accident (i.e. Golf ball into window), and even host liquor liability (someone leaving party at your house and then getting in accident).
3.    It starts you with an insurance history so when you buy a home you can prove prior insurance coverage.
4.    It’s relatively inexpensive.  Most basic renters policies are under $200 per year.

Renters insurance benefits the landlord because:

1.    Tenant has primary coverage for liability arising out of their occupancy.  Otherwise, the landlord would be first in line potentially.
2.    If the tenant has coverage for their personal belongings, they are more likely to stay a tenant if there is a loss because they will quickly be made whole again.  If they have nothing, they may quickly make other arrangements like moving back with parents.

If you are a renter or a landlord, making renters insurance a requirement is a priority.

Be safe and be well.

My daughter Kelli works as in intern for the Kitsap Blue Jackets professional baseball team. She just learned a lesson about where to park at a ball game. The only car parked beyond the outfield fence - the home run went after her car like a magnet! I figure this is good advice for everyone:)

Be safe and be well.

Be afraid. Be very afraid.  Why?  Words like this - Government
competing w/ private insurers; require individuals to carry insurance;
require employers to pay; not yet decided how to raise taxes; Begin
taxing health benefits; Rangel open to “all ideas” except using it as
a backup plan.  I’m an insurance professional. As a consultant, I
don’t sell so it’s not like they will be competition. There are decent
ideas floating around like the one from the Maine Democrat. These
won’t be considered.  Be afraid.

This is from an online NY Times article.  You may need to be registered, but it’s free.  I’ve found that there is excellent coverage on insurance issues, especially health care.

Read the Story

I believe this is a positive step for the company and the industry.  The insurance industry has come under fire for a number of different reasons, most brought on by themselves.  The perception is an “old boys network” that is only out to make money for themselves.  Even though Mr. Ayer’s salary was down 31%, he still took home a cool $7M while his stock was down 78% over the last 12 months.  Investments and bad annuities killed The Hartford.

A new face and bold ideas would refresh the company.  Insurance companies need to become more innovative and lean if they are going to survive in this market.  If Hartford makes the right choices, the resignation of one of the “old guard” will result in better results and more importantly better products for consumers.  When Mr. Ayer said it was the right time for him to make “retirement plans,” he was right.  It’s time for a fresh start.

Read the Wall Street Journal article

Be safe and be well,

I am now posting regular Personal Insurance Tips on Twitter.  Follow me on Twitter by clicking here.

If you prefer, you can also follow me on Facebook where I will also be posting these tips.  Search “Dan Weedin” on Facebook and ask to be my friend.  Make sure you send along a message that reads “Insurance Go2Guy” so I’ll know who you are!

Both services are free and you can keep your personal life properly protected.

Be safe and be well.

Nationally syndicated columnist Star Parker wrote an interesting article today on health care.  Here is the link…

Click here to read

I’m interested in your take.  Please reply with your thoughts as entrepreneurs and business professionals.

Be safe and be well.

Dan