Ask the CFO Recap: Managing Personal Risk Featuring Amanda Martinez, VCU Risk Advisors

One of our final Ask the CFO sessions of the year brought a timely and highly practical conversation with Amanda Martinez of VCU Risk Advisors. As many business owners wind down for the holidays, issues like insurance coverage, cyber threats, personal risk exposure, and multi-state assets tend to surface—especially for owners with both business and personal holdings to protect.

Amanda works in a niche most people don’t even realize exists: high-net-worth personal risk management. Her firm specializes in guiding business owners, family offices, and individuals with complex portfolios through decisions that can prevent costly mistakes down the road.

Today’s session covered some of the most common gaps she sees—and why they matter for anyone running a business.

The Challenge of Multi-State Living

As business owners expand, second homes become common. With that comes complexity. Most traditional agents are limited by state lines, which creates fragmentation—multiple carriers, multiple renewal dates, and confusion when something goes wrong.

Amanda shared a powerful example of a client who was juggling three agencies across multiple states. VCU consolidated her entire personal risk program into one carrier, one renewal, and one point of contact. The relief alone was enough to change how she managed her assets.

For owners with property in more than one state, the key takeaways were simple:
• Work with a broker licensed in all 50 states
• Ensure your insurance structure reflects how your assets are titled
• Prioritize service and clarity over brand names

Why Your Broker Relationship Matters

It’s not enough to have a policy—you need the right partner behind it. Amanda emphasized that the true value of a broker is service, not products. A good broker:
• Contacts you before renewal with real analysis
• Helps interpret changes in the hard property market
• Guides you through claims when you're overwhelmed
• Spots gaps in coverage you didn’t realize existed

A birthday email doesn’t count. Real service does.

The Importance of “Church and State”

We discussed a recurring issue many of my clients face: blending personal and business assets. It happens innocently—leasing a car in the business but insuring it personally, or titling a property in an LLC but running all expenses through a personal account.

Amanda shared an eye-opening case where a vehicle titled in an LLC—but paid for personally—left the owner personally exposed during a liability claim. The lesson: structure only protects you if you follow it consistently.

Personal Cyber Insurance: A Growing Need

Cyber threats aren’t just a business issue anymore. Amanda highlighted:
• Personal cyber claims surged significantly from 2023 to 2024
• Many attacks involve social engineering and phishing
• “Voluntarily parted with funds” is a real exposure many policies don’t cover
• Most consumers don’t report incidents, meaning the problem is bigger than the data shows

For owners exiting a business—suddenly without the protection of corporate IT—personal cyber coverage becomes critical. Costs are still surprisingly low compared to business cyber policies.

Real Claim Stories: Where the Right Broker Makes All the Difference

Amanda walked us through several real cases, including:
• A complex auto accident where VCU helped a client avoid filing on her own carrier—saving her premiums and navigating State Farm on her behalf
• A water intrusion case in Minnesota where the carrier initially offered $600—until VCU intervened and pushed toward the correct $5,000 settlement
• A lightning strike and house fire that required full relocation and claim management, all handled while the client continued running a business

Each example underscored the same message: when something goes wrong, you need a broker who’s capable, responsive, and proactive.

Why This Conversation Matters for Business Owners

Business owners carry risk on both sides of their lives—personal and corporate. When something happens at home, it can distract from the company. When something happens at the company, personal protections often get overlooked.

Understanding how your assets are structured and insured isn’t administrative—it’s strategic.

Connect with Amanda Martinez

For anyone interested in reviewing their personal risk structure, multi-state asset coverage, or cyber protection, Amanda is an exceptional resource.

VCU Risk Advisors
Website: bcurisk.com
Email: amartinez@bcurisk.com

Thank You for Joining Us

A big thank-you to Amanda for sharing her expertise, and to everyone who joined despite the snow, holiday hangovers, and slow Tuesday morning start.

Our next Ask the CFO session will be in the new year as we line up more experts and dig deeper into the issues business owners need to understand to run smarter, safer, and more efficiently.

If you’d like to revisit any part of this session or apply these lessons to your own business, feel free to reach out.

— Lowell Mora, Impact CFO