It's a bit coincidental that you brought this up . I have a few...

It's a bit coincidental that you brought this up . I have a few properties whose insurance policies are due at the same time ( last week ) . Each year when the renewals come around I always review the premiums . I find insurance companies are pretty sneaky if you stay with the same company for a while . They will sneak up the premiums on existing customers who don't regularly scrutinize their costs . This year the premiums were up 12% . One was up 30% ! So I spent half and hour on the phone adjusting my policies . I discovered that they had me paying for things that I didn't need . E.g. I adjusted my excesses up which saved me quite a bit of money . Roughly a 25% cost reduction across all those policies .

Hence the risk management part . By adjusting ( and better understanding ) my risk I was able to reduce my underlying costs by quite a bit .