Insurance the Cornerstone of Economic Activity

Nothing Moves Without Insurance

Founded in 1988, The Consulting Interface Limited has identified a growing need and demand for education in the area of financial management, within the financial services market place.

Presenter Lloyd Ince, ChFC, CFP, CLU, LOA, Chartered

Financial Consultant

To focus upon the risk transfer roleTo illustrate its necessity in the conduct of

economic and social activities

Objectives

UncertaintyPeril/ HazardRisk Insurance

Basic Understanding

Earning PowerFixed

Assets/ Property

Financial Assets/

Investments

Broad Categories of Risk

Death DisabilityOld Age or Retirement

FireNatural DisastersMalicious damageLarceny & TheftAccidental damageOperator errorCivil Unrest/Disturbance War

Economic changes• Market• Interest• Inflation • ExchangeFeatures of instrument• Capital• Liquidity• SensitivityBusiness performance• Credit default• Natural Disaster• Pecuniary Loss

What are the perils …?Earning Power

Fixed Assets

Financial Assets

EARNING POWER

EARNING POWERWhy do you work?

To earn an IncomeYou At Work

Your $$ At Work for You

Charity

Food

Shelter

Clothing

Education

Incidentals

Entertainment

1• Premature Death• Dying too soon

2• Disability by Accident or Illness• Often considered worse…

3• Old Age or Retirement• Living too long

A BUSINESS IMPORTS Shipment of Cars

Japan

Trinidad & Tobago

JapaneseCar Company

T&T Importer

Natural disasters

Shipment StolenBurnt in WarehouseReceived Damaged Non paymentChange in Exchange Rate

1. Fire and extra perils2. Workmen’s compensation3. Public liability4. Goods in transit to buyers

Marine Insurance:work of the freight forwarder CIF and CFR

Importer takes possession and insures:Goods in transit to warehouse, showroom

Letter of CreditNegotiated Forward Rate

Truly nothing moves without insuranceQuestions?www.consultinginterface.com1(868)624-4858

Insurance the Cornerstone of Economic Activity

Nothing Moves Without Insurance