The Missing Piece of Financial Planning – Property and Casualty™

Chubb’s recent research found that only 28% of advisors address their clients’ P&C insurance needs, even though 77% of successful individuals want their advisors to provide that support and nearly 40% would consider switching to an advisor who provided it.

Why would property and casualty exposures relate to comprehensive wealth management and estate planning? What good is perfect asset allocation, correctly structured life insurance and even a plan for “asset protection”, if an uncovered property or liability claim can wipe out several million dollars of assets? As clients gain wealth, their risks get more complex and they could easily outgrow their coverage or their broker.

Having Chubb, AIG, PURE or another top insurance company is the start of their protection, but it is not enough for the highly successful family. Custom designed programs are needed to protect the complex needs that success and wealth bring.

Fee-Only Property and Casualty Risk Management provides independent, unbiased, non-commission based analysis. Followed up by guidance, mitigation and assistance in implementation of recommendations to make sure the proper coverage is in effect. We can work with your clients current broker so they can continue their relationship.



What We Do

We provide The Missing Piece of Financial Planning – Fee-Only Property and Casualty Analysis. The best protected client is an educated client. We provide comprehensive independent analysis and solutions for property and casualty exposures and policies so your client can make the best financial risk management decision s based on their lifestyle.

Personal Property and Casualty Risk Management for highly successful families, SFO, MFO.

  • First we analyze exposures through research and interview with the client and/or their advisors or managers
  • Next we identify and assess risk, provide guidance, and develop mitigation strategies to minimize personal exposures
  • Finally we offer superior custom solutions, balancing risk and premiums that your broker can implement
  • Solutions would include recommendations to remove, mitigate and transfer risk, while recommending insurance changes as needed


Why a Lifestyle and Risk Analysis is critical

  1. Clients think, “I have Chubb, AIG, PURE; I have the best coverage available.” A standard policy from any of these companies generally will not properly protect a sophisticated client’s needs.
  2. Client’s needs and availability of coverage change over time. Without a regular, comprehensive analysis, coverage gaps develop.
  3. Since most clients have never had such a review, it proves your firm embraces a comprehensive concern for their financial well-being without someone selling coverage.


Results from a Lifestyle and Risk Analysis

  1. Saved a client $7,000 on a $17,000 premium by increasing the deductible to $10,000. Client’s net worth exceeded $100 million.
  2. Discovered claims would not be paid on a policy, as the LLC was not named on a $10 million Florida home.
  3. Saved a client $90,000 by recommending an increase in Mold coverage. Client chose to increase coverage from $10,000 to $100,000. Two years later the insurance company looked at a new claim for the home and wrote a check for $100,000.
  4. Uncovered inadequate coverage during a $5 million renovation/addition to a $15 million home. The client did not have coverage and the builder’s coverage was inadequate for the job.
  5. Revealed inadequate excess liability limits. Client with a $46 million net worth and a $5 million annual income had a $1 million excess liability policy.


What BOAKS Advisors brings to the table

  1. Peace of mind.
  2. Extensive knowledge of property and casualty with background in life, disability and long term care insurance over thirty years.
  3. Demonstrated success in face-to-face meetings with highly successful families, multi-family offices, and their advisors, providing analysis over the last eighteen years.
  4. Broad knowledge of policies from many firms; Chubb, AIG, PURE, Lloyds, Florida insurance companies, wind, earthquake, flood, middle market companies and others.
  5. Commitment and passion to analyze, advise and protect the client.


BOAKS Advisors

Brian P. Boak, Chartered Private Risk and Insurance Advisor
Fee-Only Insurance Advisor, P&C