News

Christmas Risks because Christmas isn’t always fun and games

News >>

There are risks to you with Christmas. In fact the risks could be greater to you than at any other time of the year. The Institute of Risk Management (IRM) has compiled a list of the most commons risks facing most people and of course how to manage them as follows:

Debt: Hard to avoid at Christmas. The IRM recommend managing this risk by limiting gifts to one per family. Alternatively encourage everyone to make their gift. It will save adding to the credit card bill.

Being shocked: Not just at the cost of goods or your weight gain, but high hazard things like Christmas lights and other gadgets plugged into the mains. It not only puts your power costs up but places the home power circuit under pressure. To avoid a shock and potential trip to Emergency, it may be time to upgrade the lights, unplug occasionally and make sure they aren’t left plugged in and unattended for long periods.

Crime: Many Mobile devices, such as smart phones and tablets will be on the wish list this year. However they contain a lot of sensitive data and a host of personal information. They are also targeted by crooks. So if giving or receiving these as a gift, the Institute of Risk Management recommends packaging it with security software.

Overindulgence: With the amount of parties and all the treats on offer, resistance can be futile. However to avoid gaining a waistline to rival that of Santa Claus,  the Institute of Risk Management suggests balancing this extra intake with additional and regular exercise.

Embarrassment: Having a good time at the staff Christmas party or family function often involves the consumption of plenty of alcoholic beverages. This can sometimes to lead to uninhibited affections or instead negativity surfacing. This can sometimes lead to a loss of temper and aggression ending in dramatic and unwanted situation. Then the regret and illness the next day. Opting for drinking less could mean avoiding that awful ‘day after’ moment.

Ill will: The old saying you cannot choose your family means, distance is often best when it comes to family. However at Christmas time we see an obligation to get the family together. This creates new risks that are hard to avoid. The Institute of Risk Management recommends being the bigger person “when you are reminded, yet again, of the slight you caused Uncle Harry eight years earlier”.

Present panic: The rustle of wrapping paper is often accompanied by anxiety from both the buyer and receiver. Will they like it? How do I react to what they give me? Better practice my “fake appreciatons”. As costs keep increasing and expectations grow it has never been harder to choose the perfect gift. Reduce this risk by making wish lists, setting budgets and holding ‘present swap’ days to recycle unwanted gifts or donate them to a charity.

TV tantrums: The post-Christmas meal ritual often sees families retire to the lounge to enjoy some festive television. A new battle begins for being the master of the all-important remote control. Avoid conflict by compromising, accepting that your day will inevitably involve yet another re-run of Carols in the Domain.  But you can set the recorder for your favourite programmes and watching them later. Besides it is a good time to nap.

Last changed: Dec 23 2013 at 9:57 AM

Comments

  1. None Found

Add Comment

Latest News

High Court dismisses Business Interruption Test Case

Today the High Court dismissed appeal by Insurers on the Business Interruption test case. Even the big insurers make silly mistakes! But you the policy holder may benefit if you were one of the 40% of Business Pack policy holders that added Business Interruption cover to their Business Pack. While it was never the intent of insurers to cover policyholders for the loss of income from a pandemic, the fact that insurers never factored in a risk premium for it, and the fact there is supposed to be a material or physical loss to trigger the Business Interruption section, none of that matters according to the highest Court in the land. So what was the mistake? Simply that when insurers defined what they considered to be the definition of an infectious disease, they referred to the Quarantine Act of 1908 which since was superseded by the Biodiversity Act of 2015. Because the Quarantine Act of 1908 no longer exists, apparently you cannot draw on this for a definition of an infectious disease? Not one of the insurers picked up on this! Shows how much interest we take on the business of Governments, except what is reported in the media.

read more

Three Years running - Insurance Brokerage of the Year 1 to 5 staff

Mandy and Robert Cooper were extremely honoured and astounded to once again win, Insurance Brokerage of the Year for 2020 from Insurance Business Australia magazine. This is the third year running.

While this year has not been the easiest of years for the business with Covid 19, the Recession, the hard market and issues at Lloyds of London, we are literally all in this together as an Insurance Industry.

CPR Insurance Services continues to make our clients the number one focus of our business while managing our relationships with Insurers, who we need more than ever in this market climate.

CPR Insurance Services are a highly ethical Brokerage with a reputation as a trusted advisor who always acts in the Client's best interests. Their experience, knowledge and expertise is amongst the highest in the industry.

CPR Insurance Services is now ten years old as a business and is proud of being an Authorised Representative of Ausure and their partnership with Steadfast, giving CPR the strength and backing to match it with any Broking firm in the Insurance Industry, but remain focussed on supporting the Small to Medium business segment.

Memberships of the National Insurance Brokers Association, Australia and New Zealand Institute of Insurance and Finance, Australian Insurance Law Association, Australian Professional Indemnity Group and the Australian Institute of Company Directors, ensures CPR Insurance Services maintains the high standard of knowledge and expertise required to be one of the best Brokerages in Australia.

CPR Insurance Services also plays a strong role in their local community supporting other Sporting Clubs and Community organisations. They also support and promote local businesses with their operation of the Kedron Brook Business Group who meet regularly and has 174 members.

We are truly honoured to receive this National award once again for the third year as a recognition of CPR Insurance Services contribution.

read more