Welcome to this edition of the Cavalcade of Risk. Thanks to Hank Stern of InsureBlog for this opportunity to host this growing blog carnival covering risks, risk management, and the like.
I'm Joe Kristan, a CPA and a shareholder of Roth & Company, P.C. of Des Moines, practicing in tax. We're a one-office CPA firm of 30-odd accountants with clients across Iowa and beyond.We serve mostly private businesses, community banks, and their owners. I suppose I'm a form of risk management for my clients. Des Moines is an insurance Mecca, so we live and breathe risk management here, in a way.
This blog covers my corner of the tax world. I'd love you to come back; you can use the easy-to-remember url "TaxUpdateBlog.com" to visit the main blog page.
This week I'm organizing the Cavalcade by rough categories. If you don't like the way I've done this, Hank is looking for hosts for future editions, so contact him and show us how it's done. Now let's get to it.
Mr. Stern himself has our first entry. It seems that some electronic medical storage outfits withhold access to the records for doctors who don't pay their bills (logically enough). So what happens if you are in the ER and the doc can't remember if your allergy is for peanuts or penicillin? Find out at Insureblog.
Joseph Paduda at Managed Care Matters thinks Health Savings Accounts aren't going to rescue many folks from the ranks of the uninsured.
I'll just note that the evidence is at least conflicting on that score.
I weigh in on a GAO report on HSAs that I find somewhat lame.
Ouch! The Risk Free System blog reports that circumcision can reduce the risk of contracting HIV. If you haven't had it done already, you'll probably seek another path to prevention.
The key to preventing heart disease is simple -- living a relaxed, happily productive and satisfying life, full of love and generosity.
Try forgiving someone, especially yourself if you miss a day of exercise or eat something you like that isn't so good for you.
Sounds good. I'm going to relax with a satisfying cheeseburger and forgive them for putting bacon on it.
Blogging For Cancer reports that some drugs used to treat prostate cancer may increase the risk of heart disease and diabetes. As risks go, though, it still beats adult circumcision.
Blogging for cancer? Contrarian, to say the least.
PROPERTY AND CASUALTY
AT THE HOME OFFICE: INSURANCE BUSINESS INSIGHTS
Did you know that the surplus lines market has outperformed the overall industry by an average of approximately 10 points?
Feel bad about that 75 cents you lost in the candy machine? It could be worse - $5 billion worse. Scott at Scott on Money explains how one Brian Hunter lost $5 billion trading natural gas. I don't think it was a hedge, somehow.
The Global Growth Investor discusses how much risk you should take in your trading account. Is investing just another game of poker?
RISKS OF BEING OFF-TOPIC
Julie Ferguson presents America's Great Wall: A Modest Proposal posted at Workers Comp Insider, saying, "When it comes to attempts to control the influx of illegal immigrant workers across our borders, Jon Coppelman agrees with poet Robert Frosts's observation that "Something there is that doesn't love a wall."
John Buehler presents Rebuilding Eden - The 3rd Channel » The Selling of America posted at Rebuilding Eden. From his post:
Add to this the fact that as the value of our dollar continues to decline, nations who hold a large amount of U.S. dollar denominated debt will be encourage to trade them in for things of real value. I forsee this trend continuing for some time to come.
Mr. Buehler worries about those foreigners buying all of our good stuff. At least it has its built-in revenge; the financial assets they are buying are also dollar-denominated, so if Mr. Buehler is right, they're suckers, because the stuff they're buying will continue to decline. In any case, I for one welcome our new alien insurance overlords to Des Moines.
Finally: why does Des Moines have so many insurance companies? These photos don't even include all of the insurance headquarters I passed on my lunch-hour stroll yesterday. I have no idea how they all got here, but if the weather were always as nice here as it was yesterday nobody would want to live in San Diego. Except maybe for the ocean part.
The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to