Risk management is the practice of helping reduce a bad outcome in your life.  While we typically think of risk management as using insurance as a way of helping reduce the financial impact of a bad event in your life, the fact is this:  Financial protection is important, but protecting your life and health from untoward events, is even more important.

At WhiteCoat Risk Management, our A.R.P. system helps people better identify, reduce and protect against the risks in their life.  Sometimes it's financial, but other times it helps you protect your life and health. This is one of those times.

Risks Of Injury: Knowledge Is Power.

If you knew that you had a high chance of being injured this year, would you be better off understanding what the most likely cause of that injury would be?  Or are you better off not knowing and taking your chances?  

I believe the answer is obvious.  If you know the most likely cause of an injury, then you can...

The "ultra" rich individual has very special risk circumstances, many of which we will likely never experience, such as risk from endorsements, huge investments, directorship positions, multiple homes, exotic autos, and boat or other things we can't fathom.  However, there are some strategies that SMART ultra-rich do use to protect their fortunes.  They use them, and you should too!

1. ALWAYS look at the risk potential of everything you do.   What good is a huge financial return if it puts your entire financial well being at risk? What good is a "relaxing vacation" if the location puts your life at risk?  What good is a thrill ride in a hang glider if you have a high chance of a severe accident? Although it may seem troublesome to always be looking at the risk of life's events, it's far less trouble than trying to repair something that has gone wrong that you could have prevented or reduced. 

2. KNOW where your existing risks are.  Understand...