Tips for Your Insurance, Finances, and Business
News. Insights. Analysis. Inspiration.
Today's Key Question:
Are you fully aware of the key role insurance plays in a private equity portfolio?
See the article below from Insurance Business Magazine.
"These businesses are making more money because Americans are staying home"
* Although the pandemic brought about one of the steepest economic contractions in history, home improvement businesses have fared well through the downturn.
Companies that aim to make home a bit cozier, or a bit more functional, are benefiting from Americans having nothing better to do -- and few other places to go.
"Respawn point: The inevitable reincarnation of the corporate office"
* Even when a good deal of remote work is possible, there are certain things that are lost without having some time in the office. Mentoring, informal in-person collaboration, and other intangibles can suffer without a shared physical space. Technical support may not be totally adequate for peak productivity, either. And while not having to commute has allegedly helped with "work-life balance" during the lockdown, many people would be a lot happier if they could go to the office a few days a week to get better division of work and family life—yes, even if it's just to go hide from their kids for a few hours in a co-working facility.
"Here's the Shockingly Small Number of People Who Died From Only the Coronavirus"
* The Centers for Disease Control and Prevention (CDC) websitedisclosed the shockingly small number of people who died from only the Wuhan coronavirus, with no other cause of death mentioned. Hold on to your hat because here it is: out of the 161,392 deaths in the CDC data, just six percent, about 9,700 deaths, were attributed to the coronavirus alone. According to the CDC, the other 94 percent had an average of 2.6 additional conditions or causes of deaths, such as heart disease, diabetes, and sepsis.
Instead of protecting the vulnerable – the elderly in nursing homes and those with comorbidities – health "experts" recommended locking everyone up and prescribing for Americans a wide range of ailments such as depression, suicide, missed early cancer screenings, unemployment, substance abuse, and poverty.
"Protecting private equity"
* With insurance typically being one of the largest expenses across a portfolio, partners who fail to develop a relationship with an experienced private equity insurance broker are missing an opportunity to improve EBITDA and strengthen a portfolio’s coverage profile. With insurance markets in turmoil due to catastrophic losses, increased claims activity and the uncertainty caused by COVID-19, private equity professionals need trusted insurance advisors who can act as outsourced risk managers. To meet that standard, brokers need to keep several things in mind.
Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here