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Sometimes the concepts of insurance and risk management can become clouded and confused. Something is often lost among the mechanics of arranging for coverage, what should be covered, how it should be covered and what costs are involved. Many fail to appreciate the real value of these concepts and may get to the point where they are considered merely expenses and barriers to other, more important objectives.

However, there is a way to view these concepts that lets you maintain a correct focus on what is involved and that is “resiliency,” the ability to recover or rebound to your original state or condition after experiencing adversity.

Our lives and our success in living them are so heavily dependent upon our ability to recover after loss and destruction. The value in assessing threats to loss that we face in our personal and business lives is in the power we gain by being able to recognize dangers. Once recognized, we also need to secure ways to eliminate, avoid or minimize these dangers.

Our embracing the concepts of risk management and one of its most effective tools, insurance, gives us a greater chance to meet our responsibilities to those who depend upon us. The reward we achieve is the creation of stronger individuals, families, businesses and economies. Economic survival is a good thing, but with the attitude of doing what we must to be resilient, we achieve great things.

We all win when we adopt the attitude to survive and then to thrive. Insurance and risk management give us options to rebound from adversity. Use them and appreciate their value.

COPYRIGHT: Insurance Publishing Plus, Inc. 2016

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