Retirement Plans

Why checking your homeowners insurance should be a rite of spring

Double-checking your homeowners insurance probably isn’t on many spring to-do lists. But it should be.

That’s the advice from David Miller, Vice President and risk management expert at Plexus Private Client Solutions, a suburban Chicagoland personal insurance agency protecting the life’s work of successful families and individuals with tailored home, auto, and umbrella coverage solutions.

In his recent article, “Eight Things That Might Surprise You About Your Home Insurance Policy,” Miller highlights some hot-button issues for homeowners, including:

Your home may be underinsured. Via Consumer Reports, which cited data from analytics firm CoreLogic, three out of every five homes are 20% underinsured on average. In the case of a total rebuild, this could leave homeowners left to pick up the pieces — while also picking up the check.

Take a look at your deductible, because it may have changed. Miller, who has more than two decades of insurance experience, cautions homeowners to be aware of wind and hail deductibles. These have been on the rise, with an uptick in roof-related claims particularly an issue. An insurance company can only change your coverage at renewal; make sure to read the fine print. Your agent can help.

Do not assume you have sump pump failure coverage. Most insurance companies will exclude this damage as a cause of loss. However, you can usually buy back a limited amount of coverage. Writes Miller: “Even if you have an unfinished basement, the costs associated with a sump pump/sewer claim might surprise you.”

For more information on the home and personal insurance expertise offered by Plexus Private Client Solutions, contact David Miller at 847-307-6100, or visit plexusgroupe.com. The firm's located at 21805 W. Field Parkway, Suite 300, in Deer Park, Illinois.

About Plexus Private Client Solutions

The personal insurance practice of national insurance brokerage The Plexus Groupe LLC, Plexus Private Client Solutions delivers a superior client experience and comprehensive personal insurance for successful individuals and families, including auto, home, and umbrella coverage. Our experienced, dedicated team takes a consultative approach to your personal risk management needs. For more information on Plexus Private Client Solutions, contact the firm at 847.307.6100 or via the Web.

Plexus Points: Insurance stories we're reading

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At Plexus, we enjoy reading about insurance. Here are a half-dozen insurance stories we are sharing, bookmarking, and highlighting as the work week rolls on:

Insurance Stories

-- A major carmarker will begin a program allowing owners to rent their cars out when they are not using them, a la Airbnb and homes.

-- In case you are wondering, Airbnb does provide some free liability coverage to users, and homeowners insurance may also cover some issues, as this Kiplinger's Personal Finance article points out.

-- Here's a look at the type of coverages home-based businesses may want to explore.

-- Will marijuana-related businesses utilize captives for insurance solutions?

-- Dental implants are effective, but will your insurance cover them?

-- On homeowners policies and firearms.

Insurance stories we're reading

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At The Plexus Groupe, we enjoy reading about insurance stories. Here are five industry-related stories we're bookmarking, sharing, and thumbing through as the work week rolls on:

Insurance Stories

→ Here's a closer look at the kinds of insurance that major motion pictures might utilize.

→ Will Maryland require individuals to have health insurance?

→ Auto insurance rates are seemingly up everywhere, but they are really going up in Colorado.

→ A fisherman, a boat, and a half-million dollars in liability insurance.

→ Wisconsin recently adjusted the insurance program available to dairy farmers that pays out when the cost of producing milk nears the cost of selling milk.

Plexus, Hunton & Williams to host Cybersecurity Seminar in Dallas on February 20

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International law firm Hunton & Williams and insurance brokerage / risk management consultancy The Plexus Groupe are excited to host a series of cyber risk management panel discussions tomorrow, Tuesday, February 20, from 1-5 p.m. at Hunton and Williams's offices at 1445 Ross Avenue, Suite 3700, in Dallas. An on-site cocktail hour will follow the panel discussions. Join other local executives for cutting edge, actionable threat mitigation insights and fruitful networking opportunities featuring leading legal, security, insurance, and risk management experts.

To RSVP, contact Michael Iannaccone of Plexus Financial Services at miannaccone@plexusfs.com or 630.347.5939.

Topics to be covered by our panelists include:

Cyber Threats: Fixed and Mobile

The Internet of Things brings great opportunity for businesses. But hackers need just cheap, easily accessible technology to wreak havoc on your firm. We take an in-depth look at this dangerous landscape.

Panelists

Chris Risley, CEO, Bastille Networks Internet Security; has led nine venture-backed startups.

Andrew Hoog, Founder, NowSecure; mobile security expert.

Cyber Risk Management: Direct and Indirect

Every day, your brand and your business are on the line.

Panelists

Paul M. Tiao, Partner, Hunton & Williams; co-chair of firm's cyber and physical security task force and former senior counsel under FBI Director Robert S. Mueller.

Michael Berman, Founder & CEO, Ncontracts; leading risk management software provider for financial institutions.

Cyber Risk Mitigation

So you’ve been hacked. What’s the cost? Get ready for some sticker shock.

Panelists

Erik Tammearu, National Benefits Distribution, Symantec.

Michael Iannaccone, Vice President, Plexus Financial Services; banking and risk management consultant.

Cyber Liability

When cyber-attackers hit, cyber insurance and its many components can save the day.

Panelists

Lorelie S. Masters, Partner, Hunton & Williams; nationally recognized insurance coverage litigator.

Willie T. Lindsey, Vice President, Executive Liability, The Plexus Groupe; Executive Liability underwriting and insurance brokerage leader.

 

 

Plexus Financial Services selected as a Top Defined Contribution Advisor Team for 2017

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DEER PARK, Ill., January 31, 2018 -- Chicagoland-based Plexus Financial Services, LLC, a firm specializing in corporate retirement plan advisory services, was recognized as a leading retirement advisor for defined contribution (DC) plans. The National Association of Plan Advisors (NAPA) has named Plexus Financial Services as a Top Defined Contribution Advisor Team for 2017. PFS is one of 275 firms with at least $100 million in defined contribution assets under advisement as of December 31, 2016 to be recognized.

A wholly owned subsidiary of The Plexus Groupe LLC, Plexus Financial Services offers a wide range of services for corporate retirement plans such as 401(k) and 403(b) plans, including fiduciary assistance, plan design, investment consulting, provider management, and participant education.

“We are honored to be one of the firms named by NAPA as a Top DC Advisor Team,” said Plexus Financial Services Executive Vice President and Practice Leader Allison Winge. “Our firm is devoted to helping retirement plan participants reach their goals and assisting retirement plan sponsors in their fiduciary duties. We wish to thank our clients for their trust and support, and we look forward to continuing to work with them in 2018 and beyond.”

An affiliate of the American Retirement Association, NAPA is an advocacy group for the retirement plan advisory industry. Plexus Financial Services is a member of NAPA.

Disclosure regarding NAPA’s Top DC Advisor Teams

The Top DC Advisors Team list is created and conducted by the National Association of Plan Advisors, an affiliate organization of the American Retirement Association (ARA), a non-profit association.  No fee is charged to participate. All defined contribution asset figures were self-reported by advisor firms. The materials provided are intended for instruction only and are not a substitute for professional advice.

The American Retirement Association is a non-profit professional organization with two major goals: to educate all retirement plan and benefits professionals, and to create a framework of policy that gives every working American the ability to have a comfortable retirement. The American Retirement Association is comprised of four premier retirement industry associations: the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), and the National Tax-deferred Savings Association (NTSA).

For additional information, please contact NAPA (napa-net.org) and the American Retirement Association (usaretirement.org) at 4245 N. Fairfax Drive, Suite 750, Arlington, Va., 22203. Both organizations can be reached by telephone at 703-516-9300.

Disclosure regarding Plexus Financial Services, LLC

Plexus Financial Services, LLC (“PFS”) does not provide specific investment, tax, and/or legal advice, and the information referenced/provided is not specific to any company’s or individual’s circumstances. The materials referenced/provided are general in nature and provided for educational purposes based upon publicly available information from sources believed to be reputable and reliable; we cannot assure the accuracy or completeness of these materials and caution you to use personal diligence in review before relying or acting upon any information presented. Any general information referenced/provided is not be construed as personalized investment, tax, and/or legal advice. Always consult an advisor, attorney and/or tax professional regarding your specific situation.

This communication is strictly intended for individuals residing in the states of Alabama, Colorado, Georgia, Illinois, Indiana, Louisiana, North Carolina, Ohio, Oklahoma, Texas, Washington, and Wisconsin and does not provide any information regarding any offers or services directly provided by PFS. The information referenced/provided is not to be considered an offer to buy or sell, or a solicitation of any offer.

PFS is a wholly owned subsidiary of The Plexus Groupe LLC. Advisory services are offered through Plexus Financial Services LLC, a registered investment advisor with the SEC which transacts business in states where it is properly registered, or is excluded or exempted from registration requirements, member FINRA (finra.org) and the SIPC (sipc.com). SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

You may request receipt of PFS’s Form ADV, Privacy Policy Statement, Code of Ethical Behavior, and Conflict of interest Policy at any time by written request to info@plexusfs.com. For additional details or questions regarding this or any information provided by or related to PFS, please visit our website at http://www.plexusfs.com.

Plexus Financial Services is located at 21805 Field Parkway, Suite 300, Deer Park, Illinois 60010. To contact us by phone, please call (847) 307-6222.

Want to join a growing Best Places to Work in Insurance honoree? Try Plexus.

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The new year brings new resolutions, such as a focus on eating healthier, or exercising more, or telling the people closest to us that we love them. For many, this list of resolutions also includes a vow to change jobs, to move up in their careers, to take the next step. Maybe this can be done at a current place of employment, but maybe not. Maybe it will take a fresh start at a new company to get to where you want to be.

This can be a tough decision to make. There is comfort in familiarity. Maybe your current role isn't so bad, and if you stick around, it might get better. That is possible.

So if you're going to look for another job in 2018, it better be worth your time. It better deliver a superior experience to what you already have.

That's why career seekers do their due diligence on prospective new companies.

And if you do your due diligence on The Plexus Groupe, you will find the following:

-- We're a Best Places to Work in Insurance honoree in each of the last eight years.

-- Our associates are proud of the workplace culture they have created, and a strong commitment to philanthropy and service is found throughout our organization.

-- We are a growing firm, with more than 100 employees across four offices in Deer Park, Illinois (corporate headquarters), Chicago (Loop), Dallas, and Oklahoma City.  The firm has more than 100 employees across offices in Deer Park, Illinois (corporate headquarters), Chicago (Loop), Dallas, and Oklahoma City.

-- We deliver advisory services and a superior client experience in the areas of property and casualty, employee benefits, retirement plans, personal lines insurance, HR consulting, and technology services.

-- A number of our team members have received recognition for excellence in their field. Furthermore, our associates are routinely interviewed by media, and asked to speak at conferences. We also jump at the opportunity to talk to students about our industry.

-- We offer our employees a wide variety of employee benefits, including medical, dental, life, short- and long-term disability, 401(k) retirement savings (with a generous employer match), wellness programs, Flexible Spending Accounts (FSAs), and Health Savings Accounts (HSAs). Additionally, we offer many other workday benefits, including walking workstations and complementary fruits, vegetables, waters, iced teas, and other healthy drinks.

-- Each year, we set aside two days for an all-company Team Building Event to plan ahead for the coming year, and we invite a keynote speaker to deliver an address to inspire and inform our team.

Next Steps 

Interested in career opportunities at Plexus? Click here to be directed to our Careers page for our updated list of openings.

We get it: a career search can be intimidating. It takes work. You need a reason to go on with it. And if you are going to change jobs, it better be for something rewarding, fun, legit.

To this we say: welcome. You have come to the right place.

Insurance stories we're reading

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We enjoy reading about insurance at Plexus. Here are a half-dozen industry stories we are bookmarking, sharing, and perusing as the work week rolls on: -- Wildfires are leading to soaring insurance costs in some areas of California.

-- On Netflix, HBO, and the future of insurance.

-- One of college football's top programs took insurance to cover incentive payouts related to team performance in 2016. It did not take out the coverage in 2017. Read on for the rest of this interesting story.

-- How much does $1 million in drone liability insurance cost?

-- Receiving an insurance payout after Hurricane Irma? Better read the fine print.

-- Iowa's Insurance Division is warning that bitcoin is not insurable.

Two Plexus Financial Services associates honored as Top Women Advisors by NAPA

DEER PARK, Ill. – Chicagoland-based Plexus Financial Services, LLC (PFS), a firm specializing in corporate retirement plan advisory services, has had two exemplary associates honored by a leading industry lobbying group. PFS Executive Vice President and Practice Leader Allison Winge and Vice President of Client Relations Pamela Appell have been named Top Women Advisors for 2017 by the National Association of Plan Advisors (NAPA). Top Women Advisor honorees were selected by a panel of judges, with nearly 600 retirement advisors receiving nominations.

Winge (pictured at left) was selected as a “Captain,” a designation given to leaders of retirement plan advisory firms. Appell (right) was selected as an “All-Star,” an honor reserved for top producers. Winge and Appell each have close to two decades of experience in corporate retirement plan advisory.

A wholly owned subsidiary of The Plexus Groupe LLC, Plexus Financial Services offers fiduciary assistance, participant education, investment consulting, plan design, and provider management for corporate retirement plans.

“We are extremely proud of the recognition Allison and Pamela have received,” said Brian F. Griffin, Plexus Groupe President and Chief Operating Officer. “Their tireless advocacy on behalf of retirement plan sponsors and participants is to be commended, and we cannot thank them enough for the impact they have had on Plexus Financial Services and our clients. The entire Plexus family salutes Allison and Pam for their excellent work.”

An affiliate of the American Retirement Association, NAPA is a leading industry advocacy group for the retirement plan advisory industry. Plexus Financial Services is a member of NAPA.

Disclosure regarding NAPA’s Top Women Advisors

The list is formed through an advisor application process supporting a potential nomination from the National Association of Plan Advisors, an affiliate organization of the American Retirement Association, a non-profit association.  The nomination acknowledges excellence and contributions within the profession.  No fee is charged for application, nomination, or selection; however, only NAPA Firm Partners are allowed to participate.  Among various selection criteria, annual dues are required to obtain NAPA Firm Partner Membership.

Disclosure regarding NAPA/ARA

The National Association of Plan Advisors is a non-profit professional society backed by the American Retirement Association (ARA). The materials provided are intended for instruction only and are not a substitute for professional advice.

The American Retirement Association is a non-profit professional organization with two major goals: to educate all retirement plan and benefits professionals, and to create a framework of policy that gives every working American the ability to have a comfortable retirement. The American Retirement Association is comprised of four premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), and the National Tax-deferred Savings Association (NTSA).

For additional information please contact NAPA (napa-net.org) and the American Retirement Association (usaretirement.org) at 4245 N. Fairfax Drive, Suite 750, Arlington, Va., 22203. Both organizations can be reached by telephone at 703-516-9300.

Disclosure regarding Plexus Financial Services

Plexus Financial Services, LLC (“PFS”) does not provide specific investment, tax, and/or legal advice and the information referenced/provided is not specific to any company’s or individual’s circumstances. The materials referenced/provided are general in nature and provided for educational purposes based upon publicly available information from sources believed to be reputable and reliable; we cannot assure the accuracy or completeness of these materials and caution you to use personal diligence in review before relying or acting upon any information presented. Any general information referenced/provided is not be construed as personalized investment, tax, and/or legal advice. Always consult an advisor, attorney and/or tax professional regarding your specific situation.

This communication is strictly intended for individuals residing in the states of Alabama, Colorado, Georgia, Illinois, Indiana, Louisiana, North Carolina, Ohio, Oklahoma, Texas, Washington, and Wisconsin and does not provide any information regarding any offers or services directly provided by PFS. The information referenced/provided is not to be considered an offer to buy or sell, or a solicitation of any offer.

PFS is a wholly owned subsidiary of The Plexus Groupe LLC. Advisory services are offered through Plexus Financial Services LLC, a registered investment advisor with the SEC which transacts business in states where it is properly registered, or is excluded or exempted from registration requirements, member FINRA (www.finra.org) and the SIPC (www.sipc.com). SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

You may request receipt of PFS’s Form ADV, Privacy Policy Statement, Code of Ethical Behavior, and Conflict of interest Policy at any time by written request to info@plexusfs.com. For additional details or questions regarding this or any information provided by or related to PFS, please visit our website at www.plexusfs.com. Plexus Financial Services is located at 21805 Field Parkway, Suite 300, Deer Park, Illinois 60010. To contact us by phone, please call (847) 307-6222.

 

Insurance stories we're reading

The Plexus Groupe is releasing this week's insurance reading list. Here are a half-dozen industry stories we are sharing, thumbing through, and bookmarking as the work week rolls on: -- An NFL quarterback who could garner a nine-figure contract in 2018 made sure to take out an insurance policy on himself before the season. (Among those suggesting he have insurance: former GM CEO Jack Welch.)

-- Is a global e-commerce giant thinking about getting into the insurance business?

-- Are frozen pipes covered by your homeowners insurance? It depends.

-- If you take a self-driving taxi in Phoenix next year, you will automatically have insurance coverage.

-- Estimated insured losses from Hurricane Irma have reached $6.55 billion.

-- A leading insurer has made a big investment in a company that's bringing microinsurance via mobile phones to emerging markets.

 

Plexus Financial Services introduces redesigned PlexusFs.com

We are pleased to unveil the redesigned Plexus Financial Services website, which is now live. The new PlexusFs.com has a fresh new look and houses a significant amount of valuable and interesting content for retirement plan participants and retirement plan sponsors. Site enhancements include more than 20 new videos and a series of electronic flipbooks on a variety of financial topics. Upon reaching the site,  use the "Menu" bar at right to scroll through the various sections.

If you have any questions, suggestions, or observations regarding the functionality, design, and display of PlexusFs.com, please reach out to us here.

We hope you enjoy the new PlexusFs.com, and as always, we welcome your feedback.

Disclosure regarding Plexus Financial Services

Plexus Financial Services, LLC (“PFS”) does not provide specific investment, tax, and/or legal advice and the information referenced/provided is not specific to any company’s or individual’s circumstances. The materials referenced/provided are general in nature and provided for educational purposes based upon publicly available information from sources believed to be reputable and reliable; we cannot assure the accuracy or completeness of these materials and caution you to use personal diligence in review before relying or acting upon any information presented. Any general information referenced/provided is not be construed as personalized investment, tax, and/or legal advice. Always consult an advisor, attorney and/or tax professional regarding your specific situation.

This communication is strictly intended for individuals residing in the states of Alabama, Colorado, Georgia, Illinois, Indiana, Louisiana, North Carolina, Ohio, Oklahoma, Texas, Washington, and Wisconsin and does not provide any information regarding any offers or services directly provided by PFS. The information referenced/provided is not to be considered an offer to buy or sell, or a solicitation of any offer.

PFS is a wholly owned subsidiary of The Plexus Groupe LLC. Advisory services are offered through Plexus Financial Services LLC, a registered investment advisor with the SEC which transacts business in states where it is properly registered, or is excluded or exempted from registration requirements, member FINRA (www.finra.org) and the SIPC (www.sipc.com). SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

You may request receipt of PFS’s Form ADV, Privacy Policy Statement, Code of Ethical Behavior, and Conflict of interest Policy at any time by written request to info@plexusfs.com. For additional details or questions regarding this or any information provided by or related to PFS, please visit our website at www.plexusfs.com. Plexus Financial Services is located at 21805 Field Parkway, Suite 300, Deer Park, Illinois 60010. To contact us by phone, please call (847) 307-6222.