Risk Services Of Arkansas - March 2022

Risk Services Of Arkansas - March 2022

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March 2022

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DISCOVERING MY PASSION FOR READING

I believe reading is one of the most beneficial things we can do for ourselves. It helps reduce stress, improve concentration and memory, expand vocabulary, and increase creativity. I would say that reading is one of my greatest passions, as I try to read as often as possible. On March 2, we will celebrate Read Across America Day to encourage others to explore the wonderful world of reading and literature. I haven’t always been the biggest reader. Back when I was a kid, I wanted nothing to do with reading. That all changed during one of the summers probably between the second and fourth grade. I was driving my mom absolutely crazy around the house, and she’d finally had enough, so she made me sit down and read a book. The first book was not one that I picked. My mom handed me “The Adventures of Tom Sawyer” by Mark Twain, which I was less than thrilled about. I read the first few pages, thought it was incredibly boring, and said to myself, “I’m not gonna read this.” Well, that didn’t work for my mom, as she could be quite stubborn, so eventually I gave in and went along with it. However, before long, I had reached a certain stage in the book that gripped my attention and wouldn’t let go. (I think it was when Tom convinced his friends to whitewash his fence for him!) I was hooked on reading and quickly finished “Tom Sawyer” and began looking for my next book. The next book I read was “The Adventures of Huckleberry Finn,” also by Mark Twain. It hooked me just like “Tom Sawyer” did because it was about kids doing crazy/fun things and getting into trouble. From there, my mom started buying me the “Hardy Boys” books, and my love of reading started to flourish. From that point on, I probably read 2 or 3 books a month and have continued to do so for the last 50 years. And Turning It Into a Legacy

As I grew older, the books I enjoy have changed. While I do enjoy fiction books by authors like Tom Clancy, Vince Flynn, John Grisham, and W.E.B. Griffin, the bulk of my library contains informative books on topics that interest me. This includes business, real estate, insurance, faith, investments, running, biking, and so much more. I actually had a library built in my house in Houston, and the home I currently live in also has a library. My library of books is one of the legacies I plan to leave to my children, although I don’t know how excited they are about it since you can store a whole library on a thumb-drive now! Nowadays I buy fiction books on my Ipad, and I reserve hardcover and paperback for nonfiction books that will become part of my library. Most of my library is hardcover and there are hundreds, if not a thousand or more, books in my collection. I feel like I’m one of the few people out there who still buys hardcover books, but I guess I’m probably one of the few who are still collecting physical books. If you’re looking for something to do this spring and can’t find anything on TV to watch, I strongly urge you to pick up a book and read. Incredible benefits can come with reading, and you may just discover a new passion. Keep in mind that different genres and authors appeal to different people, so if the book you pick up doesn’t keep your attention, try something else. You can find books on just about every topic imaginable —and you can learn from the experts, even if they lived and died long ago.

–Brad Johnson President, Risk Services of AR Specialized Insurance Programs for Specialized Industries. • www.INSURICA.com • 1

SELL HAPPINESS WITHOUT DRAINING YOURSELF

HOW TO MAKE SALES FROM THE HEART

Many areas are at risk for costly natural disasters, no matter where you live. Tornadoes in the Midwest, wildfires in the West, and hurricanes that target the South and East are just some of the many disasters that plagued 2021. Throughout last year, 20 separate disasters cost at least $1 billion each in damages according to the National Oceanic and Atmospheric Administration. But these disasters were not just contained within the borders of the U.S. Globally, natural disasters caused $280 billion worth of loss in 2021. There is a silver lining (from a future insurance pricing perspective only) behind these losses, though. Of the $280 billion in global losses, about $120 billion was insured according to Munich Re. 2021 tied 2005 and 2011 as the second-costliest year ever for the insurance industry. It only trailed 2017, which saw $146 billion of inflation-adjusted losses. Hurricane Ida was 2021’s costliest disaster and caused overall losses of $65 billion, but only $36 billion was insured. In addition to Hurricane Ida, the “Texas Freeze” that hit the southern U.S. in the early months of 2021 saw losses of $30 billion, and unfortunately, only half of that cost was insured. The year closed out with tornadoes and other extreme windstorms across the central and southeastern U.S. that caused losses of approximately $5.2 billion. Outside of America, flash floods across Europe caused losses of $54 billion, and the floods in Germany were the costliest disaster on record for the country. Throughout Asia and the Pacific, disasters caused $50 billion in damages, but only $9 billion was insured. It doesn’t seem like weather events are going to slow down anytime soon, so given the stunning pace of inflation recently, it is more important than ever to verify the adequacy of your insurance limits for your buildings, supplies and equipment.

In life, you might feel pressured to smile even when you’re unhappy, and the same is true when trying to please customers in your business. As the best marketers know, happiness can’t be bought, but it can be sold. Selling happiness and fulfillment is something companies do every day — and for genuine, great reasons, too. But how do marketers display those positive feelings all the time? How do you remain an effective leader, fulfilled business owner, and ambitious individual when imposter syndrome strikes? Don’t ‘trade’ your happiness every time . It’s hard to approach sales or marketing with a generous attitude if you’re already giving away a lot in your personal life. Do you ever exchange your money for temporary happiness, like a car that you can barely afford? What about spending too much time on certain tasks you dislike or with a group of friends you don’t really care for? Make conscious decisions to trade your money, time, and effort for happiness — and nothing less. That means cutting out unhealthy decisions that might’ve been useful coping mechanisms at one point of your life but are no longer necessary to help you thrive. Selling happiness starts with possibility. Even when you and your employees don’t feel 100%, remember that happiness starts with a common truth: Anything is possible. When you’re happy, it can feel like the world is full of opportunities. That’s something you want to share with your customers, whether through friendly one-on-one interactions or through your marketing campaigns. Give customers happiness, and give yourself purpose. When a business sells happiness, it doesn’t always directly convert into happiness for anyone else. Maybe they’re not in need of your service or product and simply aren’t receiving your messaging the same way they will later. However, when you shift your focus from selling to providing people with a sense of happiness and/or peace, you might surprise yourself with how meaningful and fulfilling your company’s content, marketing, and overall mission will feel for you and your team. Happiness can’t be bought, but it can be sold effectively to make the world a better place. We hope these tips will help make you and your team become more fulfilled marketers!

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Glass Half Full’s Impact

AND ITS MISSION TO RESTORE LOUISIANA

specifically colored bags. Depending on bag color, the sand is either heated to use for new glass objects or sold for construction.

When responsibly recycled, glass is 100% reusable, but only a quarter of glass in our country is recycled. Even when it is placed in a recycling bin, glass is often contaminated with food or breaks apart and infiltrates metal or paper waste streams, where it isn’t properly separated. Because of this, the U.S. has branched away from curbside glass recycling in many communities. A couple in New Orleans realized they could do more a few years back after drinking a bottle of wine and discussing how it would inevitably end up in a landfill. They started collecting glass bottles and grinding them down into super soft sand that’s used for disaster relief, eco- construction, and new glass. As hundreds of municipalities across America stopped offering glass recycling, the couple created Glass Half Full to tackle the cause. They collect glass from businesses or specified drop-off points throughout New Orleans and bring it to the processing facility, where the glass is sorted, cleaned, pulverized into sand, and sifted into

While the sand has many uses, the main goal of Glass Half Full is to benefit the infrastructure of New Orleans’ landscape. “Sand is a crucial tool for rebuilding the barrier islands and sandbars that protect our coast from tropical storms and hurricanes,” they wrote. “Returning sediment to wetlands combats erosion and promotes the return of native foliage and wildlife, which will ultimately strengthen Louisiana’s economy and preserve our food supply.” Glass Half Full operates solely on donations and is almost finished with their fundraiser so its operation can grow. By restoring Louisiana’s shoreline with recycled glass sand, it hopes to reduce the cost and harmful environmental impact of sand dredging. Its mission is to “prevent these unnecessary, wasteful, and expensive practices by providing a sustainable alternative.”

Solution on Pg. 4 Have a Laugh!

Specialized Insurance Programs for Specialized Industries. • www.INSURICA.com • 3

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INSIDE This Issue Celebrating Read Across America Day page 1 Make Sales From the Heart Without Draining Yourself The Costly Impact of Natural Disasters page 2

Recycling Glass to Benefit the Environment page 3

Are You Forgetful Lately? page 4

Self-Empowering Motivation Is a ‘Shortcut’

2 Scientific Methods to Stop Forgetting

So, it might be time to ask yourself: What motivates you to learn new things, and how can you change your approach?

Why do we supplement our diets with omega-3s and do puzzle games to strengthen the health of our brains? The most important reason is to prevent memory loss. However, in order to enhance our memory and lessen the instances of forgetting both big and little things, these brain-based strategies can help!

No. 2: Ask why. A 2016 study from the European Journal of Social Psychology found that thinking more abstractly can actually reduce memory issues. The study examined how levels of “construal” (examination and interpretation) can affect memory, and their results suggested that “abstract thinking can eliminate retrieval- induced forgetting because of relational

No. 1: Aim for mastery, not relative performance. When losing weight, some people find it helpful to stop checking Facebook or Instagram to prevent self-comparisons. Similarly, your brain forgets what’s important when you compare your performance to others.

processing, demonstrating the roles of the levels of construal on memory inhibition.” In other words, if you know the “how” and “why” behind things you intend to remember, you’ll be more likely to remember them. If you’ve been forgetful lately, maybe it’s time to rethink how you approach new information — according to researchers, a new source of motivation or critical thinking mindset could make all the difference!

Researchers at Nagoya University in Japan have found that mastery-approach goals (i.e., developing your own competence) enhance memory of newly learned material, whereas performance-approach goals (i.e., comparing yourself to others) can create “tenuous connections” in memory. The authors concluded the study by saying, “Motivation factors can influence inhibition and forgetting.”

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