Cavalcade of Risk Downunder

It's back - we're back - the kiwi hosting of the finest risk posts from around the world during the period of the last two weeks.

An introduction for moneyblog readers that haven't participated in a Cavalcade: risk bloggers post their submissions for the Cavalcade through a web page which runs the show. Every fortnight the Cavalcade is hosted by a different risk blogger. We did it back in February, and I am delighted to be back again. For those of us interested in all matters risky - especially insurance related - be it life, health, disability, business risks and the like we get an infusion of pure risk.

Checking in on Cavalcades has been a real bonus to me as a blogger - I have been introduced to many new sources and styles. So please, push back the work, take the phone off the hook, park yourself comfortably and spend a pleasant half hour getting inspiration from some of our excellent risk bloggers!

The Cavalcade of Risk!

The ever-bulging health Insurance category is kicked off with this list of Health Insurance Hacks.

The head of the Patient-Centred Primary Care Collaborative is guest blogging at the Disease Management Blog in a meaty health post. Then in this post, Jaan Sidorov of the Disease Management Care Blog finds parallels between the U.S.’ ‘cash for clunkers’ initiative and employer or insurance cash incentives for health club memberships.  Both types of programs are found wanting for the same reasons.

Fat? Do you weigh heavily on the US healthcare system? Obesity increases the risk of heart disease and other conditions. InsureBlog's Bob Vineyard has a (tongue in cheek) solution to the problem. Link.

In Colorado, if a person chooses to go without health insurance and ends up with a catastrophic medical bill, bankruptcy will be the likely outcome. Same story for a person who chooses to drive without car insurance and then causes a serious accident, except that the person driving without car insurance will also be facing legal action for making that choice. This is a fascinating post on the contrast between health insurance and car insurance. Link.

The Canadian Finance Blog has a pithy little series entitled "Insurance you can do without" - there are about four in the series. At first I crossed my eyebrows - as any good fan of insurance should - but this series is actually pretty much bang on. The type of mortgage insurance described is pretty much the old product that was largely junked in this market in the late 80s - definitely worth doing without if anyone is still selling it. They also paste Accidential Death Insurance - preferring proper term life cover - quite right too.

Continuing on the 'do-without' theme, vehical warranties get a quick check up from the folks at VitalMotion - as ever, shop around. I have certainly seen good and bad warranties, but it may interest you to know that insurers find it hard to make money out of vehicle warranties on european cars in New Zealand. Does that mean european cars are hopeless? As a driver of one of the most spectacularly unreliable european cars I am beginning to think so!

But some cover you can't do without - and just because your landlord is insured, doesn't mean you are. I am still amazed at how many businesses make this mistake, usually when renting their first business premises. Heh - this is a great little story and a cool picture - I so want to stay in that house. Link.

This is getting posted because of this gem of a reason why you buy life insurance: "the bank pays you out what you saved, the life insurance company pays you out what you meant to save." Link.

This is a great post about 'killer jobs' from workers comp insider and it's about as scary as you get in the workforce. Link. From killer employers we move to killer grannies - or grandads - and the risks of elderly drivers - well, Elderly drivers are nowhere near as dangerous as the Boston Globe would have you believe. Although doubtless my good friend Jit would be pleased to have fewer people on the roads.

Marketing Meritocracy spotted this insurance advert - a light break for you.

Here's a small selection of NZ risky posts that show you we can blog with the best of them:

David Chaplin writes in this article - reproduced from Asset Magazine, about Brian Klee's special risks business.

After some bad claims press Phil Macalister says its time to counter bad press. Link.

Pinnacle Life blogs about privacy in medical records when applying for insurance - it does apply, but has limits - link.

Israel Hartley offers his My Insurance site

David Farrar on the risks of cellphone use in cars. Link.

We're out of the gold but still in the silver and bronze with this bunch of risk-related posts:

Can risk be intuited? Security blogger Bruce Schneier thinks so, and makes the case - I agree, I think humans have spent a lot of time making risk assessments over the millenia and we probably do have something of a talent for it - at some level.

How risky is air travel? Air travel may be low risk, David Cenciotti reports on the FAA's vulnerability to a hacker attack. Link.

At the Think Progress blog, Matthew Yglesias points out the dangers of overselling a recovery.

Christopher Scott, blogging at Nonprofit Leadership, Innovation, and Change, explains why it's important for leaders to take on risk.

The Beyond Business and Finance blog takes on a White House economic advisor who pooh-pooh's inflation risk.

Postpartum Progress blogress Katherine Stone has a report on how to tell which new mom's may be at higher risk for postpartum psychotic behavior.

Definitely off target, but so hilariously so we give them an honourable mention:

In fact, almost so far off target that it's relevant again - as dedicated risk people we try to think in terms of the usual strategies: can we avoid a risk? can we reduce the risk? can we ameliorate it's impact? and last of all - can we insure it - reducing the financial impact? These folk are selling a completely different solution - luck - can you believe it? Well, I can think of one scientifically justifiable use of such good luck charms. If you know someone that believes in this stuff, then you can buy them one - the well-known placebo effect may operate, and it will make them feel better.

Back to the real world:

Finally, allow me to close on a more serious note: there are risks in life. We manage them, we carry on. Terrorism should not be one of those risks - this project is about commemorating the 2,996 ordinary people who were going about their daily lives and were killed on September 11, 2001. It's a good idea in amongst all the verbiage written and reporting about terrorism to remember that this is what it is about.

Comments

[hgstern]

Great job, Russell! Funny, informative, clever and helpful - Bravo!

And thanks for mentioning the 2,296 Project, as well.

Great Cav!
 

[Tom @ Canadian Finance Blog]

Thanks for including my post, and thanks for the fair review. While I fully believe in being properly insured with the right policies, unfortunately these other products would not likely suit most people.

I’m now at 8 articles in the series, and that may be the end of it. I would be interested in your opinions of the rest. http://canadianfinanceblog.com/category/insurance-you-can-do-without

[Jaan Sidorov]

The DMCB was remiss in alerting its readers that the Cavalcade of Risk Downunder was posted days back. Chatswood Consulting has a series of links to posts that deal with the management of risk, be it be it life, health, disability or business risks. Well worth the time!