Risky Business

Insurance Info & Risk Management Tips

By Hadley Wood www.hlinwood-insurance.com

I’m Hadley Wood, a Business Insurance Specialist, a Certified Risk Manager and the Founder & CEO of H. Linwood Insurance Services in Carlsbad CA. I am so excited to be able to share my 20+ years of knowledge and experience in the insurance industry with all the Veteran-owned businesses out there through my new monthly column.

As a business owner myself, I am keenly aware of the challenges small business owners face today. Often, we are required to wear many hats and be proficient in a variety of areas – much of which, are far from the nuts and bolts of our operation. Small business owners are sometimes faced with playing the roles of HR Manager, Social Media Marketer, Contract Administrator, Bookkeeper and more. One area that many owners do not tackle is Risk Management, although proper understanding of business exposures and risk coverage can protect your business and personal assets, especially in the litigious world we live in today.

I have learned so much about what-to-do and notto-do from my company start-up in 2010. All the entrepreneurs, seasoned business owners and strategic business associates I have worked with have contributed to my knowledge bank over the years. Yet sometimes trial and error and falling flat on my face was the painful way the lesson stuck.

I’ve worked with all kinds of clients and have seen a variety of successes and failures along the way. It has been proven over and over that knowledge is important BUT persistence, grit, resourcefulness and the will to succeed is the key. As a business owner, you will have hair-pulling days and not enough rest; you may encounter people that want to keep you down and revel in your missteps; you will likely work weekends and nights and friends and family may not understand your drive and intensity. And to cap it off, if you’re in business long enough, chances are you will face some type of legal claim or issue with a client, employee, vendor or partner.

The journey is not for everyone, and it is definitely not easy, but is it worth it? Heck yeah! But it IS risky, and the Risk Business is what I specialize in. My goal is to provide readers with key insight related to the most common business insurance concerns and offer my risk management tips to help navigate the ups and downs of owning a business.

Upcoming monthly column topics will include:

· What Kind of Businesses Insurance Should I Have. · What Should I Expect from my Broker/Agent. · Uninsurable Business Exposures. · Commercial Auto Coverages. · Liability Coverage – the Nuts & Bolts. · 1099 Subcontractors and Insurance. · Insurance vs Bonds – What is the Difference. · No – Your Homeowners Policy Does Not Cover Your Business. · Employment Practices Insurance – Lawsuits from Employees. · Non-Profit Organization Risks. · Workers Comp and Employee Injury. · Cyber Liability. · What the Claims Process Involves. · Business Growth & Safely Scaling Up. · Tail Coverage when Selling a Business.

Each month I will include a ‘Strange but True’ claim filing that I have come across and some of these are funny, eye-opening or just plain crazy.

I hope you will find the information relevant and helpful, and I am always open to questions and welcome feedback.

For more information about me and my company, please visit www.hlinwood-insurance.com

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Transitioning out of the Military into the Civilian Workforce?

Finding a job in the civilian world may seem easy at first. After all, you have learned skills, practiced leadership and demonstrated initiative that will make you successful wherever you go.

The reality, though, is that it can be difficult. In fact, it can be downright depressing, demotivating and you may feel totally disillusioned.

Veterans In Transition is dedicated to you and helping you succeed in your transition.

For editorial & monthly columns regarding transitioning to civilian life, career advice, tips, workshops, transition to education, entrepreneurship, straight-forward legal tips for military and veteran business owners visit www.tinyurl.com/SDVM-Transition

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