Financial Planners and Insurance Specialists: An Alliance of Expertise

By Mike Lambrakis, CFP®
Conrey Financial Services

You know good finances take smart planning. But how about your insurance? Among financially aware people, property and casualty insurance is so ubiquitous that virtually everyone has policies. Yet I have become convinced that despite the billions of premiums paid per year, most policyholders don’t give their coverage a thought after they pay their bill, and rarely ever ask whether their coverage is adequate to ensure proper protection. This is true even when they’re attentive to the investment aspects of their finances.

Financial advisors—who typically are not insurance specialists—also rarely emphasize the property and casualty aspect of risk management, despite a desire for these insights from the vast majority of financially successful clients. But is it possible for a financial advisor also to be an expert in property and casualty insurance? In my opinion, there are too many moving parts, special situations, nuances, and a vast marketplace of different carriers to master.

This is why my partners at Conrey Insurance Brokers and Risk Managers and I decided to combine the benefits of financial planning with the broad, multi-carrier access and objective expertise only an independent insurance brokerage can offer.

How does an alliance between a financial planner and a team of personal and business insurance specialists add value for you? Our holistic, consultative approach recognizes that when situations change, behaviors change, and financial positions change, it can present new opportunities to maximize the value of your insurance dollars. Validating the adequacy of your coverage helps protect your assets. And even when your situation hasn’t changed, it’s important to check that you’re still receiving the proper coverage with the best value.

Could your insurance and financial plans both hold opportunities for improvement? Feel free to give us a call at 877-450-1872 or contact us – we look forward to showing you The Conrey Difference!

Professional Liability Insurance

Protect yourself and your business from claims not covered by commercial general liability coverage. If you provide expert advice or services you should consider professional liability insurance. Professionals who are architects, home inspectors, lawyers, physicians, real estate brokers and accountants can benefit from this type of coverage. Read this coverage insight to learn more about what professional liability insurance covers and how it can help your company go above what general liability coverage does.

At Conrey Insurance we want to ensure that you have all the knowledge and help you need so your business is sufficiently covered. To speak with a member of the Conrey Team about professional liability insurance, call (877) 450-1872 or contact us and experience The Conrey Difference for yourself.

A Comprehensive Guide to Hours of Work and Required Break Periods in California

This Employment Law Summary provides an overview of hours of work and required break periods in California.

At Conrey Insurance Brokers and Risk Managers, we want to ensure you are informed on the topics that are important to you. That’s The Conrey Difference. Give us a call at 877-450-1872 or visit our website.

How to protect your Company When Disciplining or Terminating an Employee

Disciplining or terminating an employee brings about unwanted stress, but it can also open your business to a list of liability exposures. It is easy to believe that once an employee has received a corrective warning or has been terminated there will no longer be a problem. This is not always the case. There are many types of claims that an employee can file against you or your company if they feel they have been wrongly disciplined or terminated. But, there are ways to help prevent a claim if you are aware of the risks.

It is essential to clearly define your company expectations and individual roles for employees in a handbook which employees should sign. Conduct periodic performance reviews. The most important strategy to help prevent a lawsuit is to keep a paper trail for every employee and include corrective actions and performance reviews. Never embarrass a terminated employee by bringing in security to escort unless they were terminated for theft or a violent offense. Institute a zero-tolerance policy against discrimination, drug abuse and harassment. Also, establish an “open door” policy in which employees can report incidents without the fear of retaliation.

Add another line of defense with Employment Practices Liability Insurance. Even if you or your company are not found guilty of wrongful termination or discipline, lawsuits can be expensive, even devastating. EPL insurance can help offset some of these costs.

To learn more about ways to protect your business before disciplining or terminating an employee, read this informative article. At Conrey Insurance we want to ensure your business is properly protected against potential risks. That’s The Conrey Difference. Give us a call at 877-450-1872 or visit our website.

Planning for Success: Are you Ready?


As business owners, we’re always striving to grow our business and make it the best it can be. Whether you are managing sales, incoming calls, figuring out future goals, it really is always being one step ahead. What happens when you’ve reached all of your goals? You make new ones. In this article it shows you how to plan for your businesses succession, and in detail goes through how to make sure your business stays successful beyond your time. Read the article here.

A Holiday Message from Jerry Conrey

On behalf of Conrey Insurance Brokers, Jerry Conrey would like to wish you a very Merry Christmas and a Happy New Year.


Renters Insurance | Five Questions to ask your Agent or Broker

A renters insurance policy can cover a wide array of risks depending on the individual policy.

Renters insurance can cover your personal possessions as well as help pay for legal fees and manage the potential risk of a monetary legal judgment should you be sued because of an accident causing bodily injury or property damage to others. It’s important to seek the assistance of a knowledgeable risk manager to ensure your renters policy protects what you have worked so hard to accumulate.

Here are some questions to bring up with your agent or broker when choosing the amount of protection that will insure what matters most is properly protected.

renters insurance

  1. What is covered under my renters insurance policy?

Never make any assumptions about what is protected and what is not under any insurance policy, including your renters insurance. Should you need to file a claim, your agent or broker should explain in detail what your policy covers, and for how much money. If you are unsure, or have questions, always ask until you have a clear understanding. A respectable risk manager will always make time to be sure you understand the scope and limitations of your insurance policies.

A renters policy is similar to a homeowners policy in that it will generally cover your losses due to fire, theft, and accidental damage. It will also provide some protection against potential legal fees and financial awards due to accidents should you be found to be liable. A renters insurance policy generally does not cover flood or earthquake damage. You should always know the specific amount of coverage you have by category.

  1. Are my roommates covered under my policy?

Generally, only family members and not roommates are covered under a renters policy. Some providers allow multiple individuals to be covered under one policy, but again, never assume, always ask you agent or broker who is covered by your policy.

  1. Know the difference between current value and replacement cost protection.

There are two ways you can be protected by a renters policy. 1) You can have current value protection or 2) replacement cost. With current value protection, you might receive only $600 for a TV you may have paid $1,200 for due to depreciation, whereas replacement cost would ensure you could replace that exact TV at the current price.

  1. Am I protected if my dog bites a guest or neighbor?

Some policies cover liability created by your dog injuring someone, and some do not. It may also depend on the type of dog you own. You should always discuss this matter with your broker and agent when acquiring your renters insurance.

  1. Are items stolen from my car protected under my renters insurance policy?

Renters policies generally include coverage for items stolen off-premises. That means belongings outside your home have insurance protection similar to the things inside your home. However, off premises coverage may be limited to a percentage of your total coverage amount for personal items. For example, if you have $50,000 in personal items coverage, the amount available for off-premises losses may be 10 percent of that figure, or $5,000. Also, keep in mind, there is generally a deductible that applies.

Conrey Insurance Brokers is dedicated to building strong, lasting, and mutually beneficial relationships with our clients and community. The Conrey Team of experienced risk managers can assist you with your personal insurance, commercial insurance, life insurance, and financial services needs.

Conrey Insurance Brokers prides itself on being a one-stop independent insurance broker and financial services boutique that provides unparalleled expertise, professionalism, and service at a tremendous value.

Act today to ensure you are prepared for tomorrow. Contact the Conrey Team at 1-877-450-1872 or go to our website to get started on a free consultation today.

Photo #1 downloaded from Pixabay and is a Public Domain image.

Photo #2 by Architecturist and used under the Creative Commons Attribution-Share Alike 3.0 Unported license.

Risk Management Chronicles | The Risks of Renting your Property on Airbnb

Do you rent rooms, or your home, through online property sharing apps like Airbnb?

If so, you need to be aware of the potential risk management issues you could face when renting your property through these services.

Seen as a less expensive alternative to staying at a hotel, travelers are starting to use these home rental services while on vacation. This is creating a financial attractive opportunity for many property owners to make extra money from renting rooms or rental properties through Airbnb and other property sharing services.

In fact, the lucrative nature of utilizing these services has created such a shortage of standard rental property in San Francisco that the city is starting to regulate and limit its usage. A property owner can make more money renting short-term through these services than on a long-term lease to an individual or family.

While you may think you are covered under your standard homeowners or property owner’s policy, you are creating gaps in coverage and a risk management nightmare. These policies are designed for very specific risk management issues a homeowner or landlord may face in a standard situation.

Risk Management

Frequent renting of a room or home by different individuals requires a vacation rental risk management strategy to ensure you are properly protected against potential liability. While Airbnb does provide two ways for property owners to protect themselves, it is important to note that only one is an insurance policy, and that has a much more limited scope of protection than a vacation rental policy.

Anytime you have a major change in your living situation, or the manner in which you are utilizing a rental property, you need to contact your agent or broker so the proper risk management steps can be taken to ensure you and your property are properly protected.

If you would like more information on the risk management issues of renting a room or a rental property through Airbnb, contact your account manager at Conrey Insurance Brokers. They will gladly email you our document regarding the unique risk management issues concerning Airbnb and other home sharing services.

Since 1969, Conrey Insurance Brokers have been protecting the personal, commercial, and financial interests of our clients throughout Southern California. We are here to provide expert risk management solutions, ensuring your interests, loved ones, and financial future is properly protected.

Conrey Insurance Brokers is dedicated to building strong, lasting, and mutually beneficial relationships with our clients and community. The Conrey Team of experienced risk managers can assist you with your personal insurance, commercial insurance, life insurance, and financial services needs.

Conrey Insurance Brokers prides itself on being a one-stop independent insurance broker and financial services boutique that provides unparalleled expertise, professionalism, and service at a tremendous value.

Act today to ensure you are prepared for tomorrow. Contact the Conrey Team at 1-877-450-1872 or go to our website to get started on a free consultation today.

Cover Photo by Open Grid Scheduler / Grid Engine and is in the Public Domain.

Photo #2 by Valeriesophie and is used under the Creative Commons Attribution-Share Alike 4.0 International license.

Heat Illness | A Detailed Explanation of an Employer’s Legal Responsibility

Are you aware of OSHA and state regulations regarding an employer’s responsibility to protect employees from heat illness?

It is often said a business is only as good as the people it has working for it. That is why it is important on hot days, like the ones we are currently experiencing, employers protect their employees from heat illness. Not only is it good for employee morale, and can help limit your liability to legal judgments, it is the law in the state of California.

Under California state employment regulations, if you employ workers who work outside in the industries of agriculture, construction, landscaping, oil and gas extraction, or the transportation or delivery of agricultural products, construction materials or other heavy materials or goods, you are required to take certain measures to ensure your employees’ well being.

The regulations apply to all employers with outdoor places of employment, although certain industries must follow additional “high heat” procedures when the temperature reaches or exceeds 95 degrees Fahrenheit. The state interprets “outdoor places of employment” to include any open area, including fields, forests, parks, yards, roads, construction sites, and outdoor areas adjacent to buildings, such as loading docks.

Sheds and temporary structures may be considered outdoor places of employment depending on whether the structure decreases the risk of heat illness. If the structure does not significantly reduce the net effect of the environmental risk factors for heat illness, the state would consider it an “outdoor place of employment.” The state has taken the position that employees who spend any significant amount of time working outside would create an outdoor place of employment.

Employers must provide the following accommodations to their employees on days which reach 85 degrees or higher:

  • Convenient access to enough cool water for each employee to consume at least one quart per hour. This must be done at no expense to the employee. This can be accomplished by providing water fountains that dispense cool water, a water cooler with cups, or bottled water in a fridge or ice chest.
  • Employers must provide access to shade for employees. It must be open to the air, or have air conditioning if enclosed, and provide enough room for at least 25% of your workforce to rest comfortably without crowding each other.
  • Management must be trained to spot symptoms of heat illness and procedures for prompt access to medical attention must be in place.
  • It is the responsibility of the employer to monitor weather conditions and prepare accordingly for days that will reach 85 degrees or higher.

The state mandates that employers must develop additional protocols to address heat at or above 95 degrees Fahrenheit. These protocols include:

  • Ensuring that effective communication by voice, observation, or reliable electronic means (e.g., cell phone) is maintained so that employees at the work site can contact a supervisor when necessary.
  • Observing employees for alertness and signs or symptoms of heat illness.
  • Reminding employees throughout the work shift to drink plenty of water.
  • Closely supervising any new employee for the first 14 days of employment, unless the new employee indicates at the time of hire that he or she has been doing similar outdoor work for at least 10 of the past 30 days for 4 or more hours per day.

Below is a chart that outlines the most common heat related illness issues, their symptoms, and recommended first aid steps.

To comply with the regulations, Conrey Insurance Brokers recommends that employers should take four essential steps:

Develop and implement written procedures for addressing heat illness prevention.

  • Train employees and supervisors.
  • Provide adequate water.
  • Provide adequate shade.

As experienced risk managers it is our responsibility to educate our clients on operational best practices to help limit their exposure to potential liability. We share a vested interest in the profitability and success of your operations.

Conrey Insurance Brokers is a concierge-style insurance and financial services agency. We can assist in the proper protection of both personal and business needs. We don’t just sell insurance policies, we partner with our clients to put them in a position to succeed.

If interested in learning how Conrey Insurance Brokers sets itself apart from the typical insurance agency, call us at 1-877-450-1872 or go to our website.