Insurance industry insiders know an insurance policy is one of the few products purchased that most people hope to never have to put to use. Afterall, “using” your insurance means that an adverse event has occurred – an auto accident, medical crisis, storm damage, or any number of situations where not having a policy in place could have huge financial...

Insurance companies are the experts at analyzing and managing risk. They identify, quantify, and set pricing based on the calculated costs of risk. Naturally, the higher the perceived risk, the higher the cost to mitigate the potential losses.Yet, here is the irony. While those in the insurance industry excel at evaluating risk management for their...