Bensman Risk Management, Inc.


Insurable Interests

Bensman Risk Management, Inc.
2333 Waukegan Road Suite 275
Bannockburn, IL 60015
847-572-0800 Phone
847-572-0502 Fax

Insurable Interests may offer general financial, insurance, tax and business ideas. However, due to the ever-changing tax laws as well as the complexity of the financial industry, you should seek professional advice before implementing any of the ideas contained in this newsletter. The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C. assumes no liability whatsoever in connection with the use of this newsletter.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS). Kestra IS and Kestra AS are not affiliated with The Bensman Group, Bensman Associates Ltd., Bensman Risk Management, Inc. or Schemata, L.L.C.

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Insurable Interests

Vol. 1, Issue 5October 2005

MONTHLY MESSAGE

Managing The Risk of Natural Disasters

By David Miller

With two major hurricanes hitting the Gulf Coast in the span of one month, natural disasters of this magnitude may cause those of us who haven't been directly affected to pause and ask, "Could this happen to me? What if it did?" Of course our hearts go out to the hundreds of thousands whose lives were so drastically affected by these events.

As one of Chicagoland's leading insurance firms, we work with our clients advising and discussing the numerous options available to manage the risks associated with various types of exposures.

One of those risks which we are all too aware of is the risk of flooding. Many of us have heard through the media of the thousands of homeowners in the affected areas who are uncertain whether their homeowner's insurance policies cover their losses. This has naturally increased local interest in the availability of flood insurance and more importantly, is flood damage or loss included on your policy?

Although there is no simple universal answer to this question, flood loss is generally excluded on most homeowner's insurance policies. There are, however, some exceptions.

Another key question is: What is the definition of a "flood"? This can vary widely among insurance companies and ultimately your insurance contract must be consulted for the definition that applies to your home.

The bottom line is to first be aware of the risks. Then with the counsel of your trusted insurance advisor, determine what are the most appropriate options available to manage those risks. And as always, the staff at Bensman Risk Management is ready to assist you in providing this information.

If you have any questions regarding flood coverage or any of the other potential risks call me at 847-572-0820 to discuss how we can help.

All the best,

Dave Miller

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