Advisors Consider P/C

According to an advisor survey conducted late last year by the Chubb Group, a majority of advisors consider property/casualty coverage or risk management in the financial plans they construct for clients.

In a 1996 Chubb survey, nearly 40% of advisors said they would evaluate clients' property/casualty coverage. In 2005, 57% of the 102 advisors surveyed said they examine client property/casualty asset coverage, and 72% ensure that their clients have the right amount of liability coverage. All the advisors surveyed were financial planners, and 76% of them were CFPs (see chart below to see how these same advisors said they allocated their time with clients).

That still leaves a large percentage of advisors who do not consider such issues when constructing a financial plan. In today's litigious times, property/casualty coverage and risk management should be examined in a whole new way, according to Eric Pruss, strategic marketing officer and senior VP of Chubb Personal Lines, and Mark Schussel, VP of public relations at Chubb.–MYS