Customer Reviews

Hide! Here Comes The Insurance Guy: Understanding Business Insurance and Risk Management

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There is no need to hide from THIS insurance guy. Somebody once said that a New York accent was the most effective form of birth control known to man. Others might nominate as an effective contraceptive any tendency to discuss insurance. In one Woody Allen movie ("Take the Money and Run"), a prison convict who is caught trying to escape is tortured by being locked in a room for hours with . . . an insurance man.

Insurance is the Rodney Dangerfield of the business world.

Author, risk manager and consultant Rick Vassar has penned an illuminating primer on insurance and risk management in his book, "Hide! Here Comes the Insurance Guy." The title is a take-off on the notion that, for most people, meeting with an insurance person or discussing coverage is as much fun as a root canal or proctological exam. Vassar tries (successfully) to cushion the blow and counter the stereotype by presenting insurance and risk management principles in a straightforward way that can profit any business professional.

Part of his theme is that most companies have risks that are overseen by someone whose title is not "Risk Manager." Most companies do not have risk managers but all companies have risk and need to manage it. For these risk managers without title or formal portfolio, Vassar's book is an indispensable primer and guide. Reading and heeding his advice will save businesses much money, frustration and Excedrin-consumption.

Vassar divides his book into three main sections. Part I discusses business strategies to even the playing field between policyholders and insurance companies. Part II walks through the major basic forms of insurance coverage for most any business. Part III rounds out with a useful; glossary and index.

Vassar's target audience is likely not the Fortune 500 or Fortune 1000 risk pro who attends the annual RIMS Conference. There is no highfalutin discussion of enterprise risk management or views from 50,000 feet above ground level. If you are seeking information on Sarbanes-Oxley compliance or the risk management implications of global warming, look elsewhere. The storefront risk manager, though, will find a wellspring of effective tips and tricks between these covers.

Vassar's focus is practical and hands-on, leavened with a self-deprecating sense of humor. Did I say "humor"? Yes, though few comedy clubs are likely to feature an Open Mike night for insurance reps, Vassar takes the human antipathy toward insurance and turns it into a source of mirth and amusement. (Some end-of-chapter checklists would have been a nice addition to the text, but this is a minor quibble.)

So run -- but don't hide - and get your copy of "Hide! Here Comes the Insurance Guy." Get out from under the desk. Leave the closet and face your fears. Insurance may not be fun, but Rick Vassar has come as close to anyone in blending sharp wit with moneysaving insights.

This is the best business book I've ever read...it's informative, enlightening and funny, which is quite rare when you are talking about insurance

This book doesn't get going until about the halfway point; the first half is taken up with repeated exhortations to take insurance seriously. Then you get some definitions, some tips on haggling with while respecting your agent, and some tidbits on various types of insurance. There is also a useful glossary, and some editorial commentary at the end.

All in all, I would say this book is for absolute beginners (like me), but you will internalize this stuff very quickly, and find that you are often still not up to speed.

This book is highly recommended for any business owner or executive responsible for procuring insurance or managing claims or litigation for the business. Almost as good as the fact that it packs a great deal of information into a readable format is that this book is actually funny.

I am an attorney and I had an inkling that this book would help me solidify advice to my business clients on buying insurance and managing potential claims and full blown claims before they become litigation. It turns out my hunch was right and I am happy I bought this book as it puts many things in perspective. I would go so far as to say that if you own a business or are responsible for buying insurance/managing claims for a business, this book may be indispensable. I have recommended it to numerous clients all of whom knew something about insurance before reading it and all of whom have taken something away from the book.

The author explains insurance needs for businesses, answers questions that are sure to pop up, explains how to deal with your broker or agent, gives interesting advice on dealing with us lawyers, explains how to take control of claims, gives the low down on going self insured, dealing with adjusters, also audits, and understanding your policies and the different types of policies.

This book has a lot to say and my guess is that anyone will learn something about insurance from it -- saving themselves some money or some heart ache (or both) down the road.

If you're incharge of risk management for your company or if you're thinking of owning your own business this is a must read and must have book.

Thanks Rick for an enlightening book.