for Biz Kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at WXXI Dawn.

Every day, America's credit unions help members with their financial needs and with, like, invest in America.

It's only fitting that credit unions support this carnage because financial education is what we do.

Learn more at Love.

My Credit Union Board.

Risk the danger, Chris.

Risk.

There's a lot of risk out there.

There's even risk right here in this classroom.

What do you mean, substitute teacher?

Well, think about it.

We're all here together.

Somebody could be contagious.

We might catch something like the cooties.

Oh, not the cooties.

Well, maybe the cooties, but the point is, there's risk all over the place.

But there's lots of things you can do to protect yourself.

Like insurance.

Insurance.

We all share the risk.

We pay a little bit each month as a premium.

And then if you get sick.

With the cooties.

You know, the point is, if you get sick, they pay your bills.

That's health insurance.

There's lots of different types of insurance for your house, for your car.

You have liability insurance.

Fire insurance.

Oh, fire, drill, fire, drill.

Slow down.

When making money is the aim.

These kids, they bring that game and that means kids.

Should you do.

It, they know what's right and get to know just how to make that go there.

That is so learned tomorrow that baby is married.

He's done his kids at home.

He's brought to.

You by no risk be gone now available in spring or powder.

And then got up up a very good pause my clock.

So I should.

I want a helmet.

That's a crazy world out there, Liz.

So, have you ever gone, say, a week without an accident or a problem or anything?

It was their fault, not mine.

Whatever.

It was that hard for you to be accident free for a week?

It's almost impossible that you'll go your entire life without some misfortune.

There's a lot of risk everywhere in your everyday life.

It's important that you protect yourself.

So what are you suggesting?

I lock myself in a closet?

Not exactly.

No, no.

We're talking about insurance or emergency savings.

You do not insurances, right?

Is that where I pay company a little bit of money each month to cover the.

Cost if I get an accident?

Yeah.

So if somebody else hit your car and you drop something important, your insurance would cover it.

Your insurance also covers your liability.

My life.

You know, your liability.

So say you were skateboarding and you accidentally hit someone, your insurance would cover that, right?

That's important.

Insurance is very expensive, but it can be even more expensive if you don't have any at all.

Another way you can protect yourself is by establishing an emergency fund.

You put some funds aside and you only use it if you really need it and you don't have any other resources available.

Oh, so that's why they call it an emergency fund.

Exactly.

So even if you can't keep bad things from happening to you, you can at least reduce the risk that it'll be something to take the okay.

Your company's engines are going to be day is that somebody is bound to get hurt as a young I.

Engaged in many risky activities but I always had insurance.

Yup.

That's me broken rip.

Good thing I had insurance.

Another Risky activity I enjoyed was ski jumping.

I was pretty good.

But even the way I calculated my speed, takeoff and angle of landing, there was always a risk wiping out.

Yep, that's me.

And then there was my risky boxing career.

I was known as Wussy McGee.

Bad Risk.

And then there was Carolyn Acuna.

She was more risque.

Broke my heart.

They don't have insurance for broken hearts.

And my name.

Is Mark Atkinson.

And I think about alimony risks all the time.

Well, racecar driving is very dangerous.

Some of the risks I face every day can be crashing my racecar on the track by, you know, losing a wheel or something and hitting a wall, the outside looking for the leader.

We there's just so many risks involved that we need to do our best to protect myself.

One of the main things that is we got tons of layers of fireproof clothing.

My shoes are actually flame through.

Both of my socks are also my home spice.

It'll actually hold my head to my body.

I'm going to it's going to it's going to help my head, you know, keep my head in place.

The roll cage is the one thing that's going to protect me from the ground if I end up rolling or anything.

These Tires.

These will help eliminate risk a lot by making a soft compound, help you.

Get the best traction you can.

And so after every race, a new full set of tires on, it's expensive.

It's worth it just because it eliminates risks.

I always have to take some risks when it comes to making a pass or something.

You have to be right on the guy and you got to make sure you take that risk in passing.

I take risks on the track because there's protection around me, you know, with with my roll cage, with my helmet.

I was actually in a wreck a few months ago.

I was going over 100 miles an hour and hit the wall dead on.

And I was actually just fine and walked away with it just because we have such, you know, safe racecars.

So all the things that we do to minimize risk succeeded and everything worked well.

In my mind, a reasonable risk is a risk that you have to take on the track to to just try to succeed in unreasonable risk would be a risk that you can't afford to take.

For instance, we decided to form an LLC because if we didn't, we could get sued for something and not be able to afford it and lose our and lose my racing career.

When it comes to protecting myself in a fire, it's all about layers.

And a LLC is like a legal layer that protects myself from any lawsuit.

We decided to form a limited liability company because if anything happens on the track where somebody gets hurt or something, that could potentially be my fault.

It ends up not getting my family doesn't get sued for that reason.

It ends up going to the corporations.

I guess I would take the risk because it's kind of an adrenaline rush and the key is to minimize the risk.

We're taking precautions from the car to all the stuff I wear to a firm family, my LLC, all those things.

We just really eliminate the risk.

When I'm out there on the track, I'm thinking about winning, but mostly I thinking about safety.

We go about it more than my family personally.

And Mark once again, he sure knows how to manage risk.

And if you want to be a lawyer, learn how to manage risk.

The world is a risky place.

One way to protect yourself is with insurance.

Hey, thanks, Baxter.

Speaking of liabilities, Bryan, what's up.

I was thinking our computer system is at risk from, you know, intrusion and stuff, and we need to protect ourselves.

There was a new Crocker virus.

Great job, Bryan.

What are you waiting for?

Get on it.

But don't expect a raise.

The world is a risky place, and as an individual, you need to be prepared.

Whatever risks you may encounter.

If you're a business owner, there's even more you need to protect.

Your debt from.

WOOD Well, for one thing, fire or some other disaster.

Or maybe you have problems with suppliers or employees.

You what if something really bad happens like your business or product doesn't work or damages something or even hurt someone.

You might get sued.

Then you'd have to be legal fees and whatever other costs the.

Court decides.

What.

You need to protect yourself against the bad things that can happen in life.

You don't want to lose your business.

You're saving.

Your life.

Just because you didn't think about the risk involved.

All this talk about risk is making me kind of nervous.

Can we, like, go outside for some air?

Sure.

All right, let me get my.

What is that, a quick break.

Another risk.

I have your insurance going to cover this?

Very.

You want to know if I'm insured?

So who thinks about things like that?

Well, now.

Linda is here today, and she doesn't understand why risk management is important.

I see.

Linda.

What I'm getting to is there are things that are going to happen to you that you don't know are going to happen and you may not be able to avoid them.

It's like my daddy used to say all the time.

If you think there's a chance you might sit on a cactus, you better bring along a spare pair of britches.

Cactus.

It's a caboose, a caboose, caboose and a caboose.

A skate shop.

Oh, I love skateboarding.

But, you know, I also love business and know kind of worked in the place that I got do both in the same career.

So dreams.

Cody Burns Yeah, I love skateboarding.

It's a caboose, pretty much the only train car in Pittsburgh.

So caboose, caboose and a caboose, something going on or anything.

Yeah, and your dad knew that.

So as you skate.

Cody does everything all the day to day operations.

He takes care of all the banking, he takes care of all the bills, he places all the orders, does all the pricing.

It's all it's all him.

I just kind of like the responsibility, you know, kind of my own independence.

Oh, I wouldn't do anything until I could get an alarm system, number one.

And insurance.

Absolutely.

With a busy kids, you need insurance to cover your assets.

They found me on the Internet and contacted me.

And then I came out and met with Cody and his dad and we just started figuring out how to get it done.

It's a caboose, a caboose, caboose and a caboose.

Well, I think the easy part was noticing that it was a caboose.

Whenever you're shopping for insurance, I always recommend to people that they get three quotes from three different agents or brokers.

Get three quotes.

The other thing that you always want to do is get it in writing.

If it's not in writing, it's not covered, get it in writing.

And the third thing is, when you buy the policy either before or after, have the agent walk you through what you actually purchased, what's covered and what's not covered.

Everything from fire to theft to, you know, if someone comes in and gets hurt, you know, it's all covered.

There are two main components when you're buying insurance.

One is the general liability that's going to cover you in case somebody trips and falls or gets injured or sues you.

The other is the property.

What are you actually insuring from.

The skateboard and accessories to the shoes and apparel?

I think we put about 15 to $20000 on the contents.

I wanted to make sure we were covered for.

That was our number one thing, you know, fires and other thing, because we're talking so far back in here, accidental fire.

We also included business interruption, which is a coverage that in case there was a fire or a loss, they could be out of business.

They still have to pay their bills.

They have the rent, they have the gas and electric.

So business interruption helps you cover those bills while you're out of business.

Or if even somebody fell down the stairs coming or going from the shop, that's the liability.

Part of the.

Liability insurance is very important because even if there was an accident or somebody was injured and you're not at fault if it goes to court, the bills could run ten, 15, 20 or even more thousand dollars doing suing.

Well, liability insurance is important because if someone gets hurt with one of your products or on your property, you know, you want to make sure you have the proper coverage to take care of that.

If you don't have coverage that can come out of your own.

Pocket, if someone wants to sue you, you know everything's covered.

By the insurance company under the general liability portion will defend you and put a defense up in court and pay for the attorneys.

And so it's pretty much, you know, it takes a lot of pressure off your back.

Well, insurance is real important because it pretty much protects everything you know you've accomplished so far.

It's a caboose, a caboose, caboose and a caboose.

So I changed the locked up front in our back, just like you said.

It's a risky world.

Your odds of being struck by lightning are 576000 to 1.

I said.

Oh, could you please go back in time?

You sure?

Who are all these people?

These are my employees.

Please say hello to Christina.

Everybody.

So did you get them from a temp agency or are they under contract to you?

Oh, no, no, no.

I hate paperwork.

I'll go.

So kind of.

Day.

Okay, so what happens?

When that flow hits some rocks.

You don't need to be so negative.

Christina, I'm not being negative.

Just smart.

You don't have any contracts or employee agreements with these people.

You're setting yourself up for some major liability issues here.

What if someone gets hurt?

What if your product malfunctions?

What if?

What if?

What if?

Christina, you need to mellow.

Oh.

No, you need to focus.

How about a game of tennis?

What does tennis have to do with this?

What does tennis have to do with any of this?

I'm Eric and I am Jim.

We started serving up tennis, so we give private group lessons to kids and adults in the government down here.

And we hire high school and college varsity tennis players to teach lessons at local public courts.

So we both work for our local tennis club.

The club is making $400 an hour.

We were staying like seven, so we used to say we can charge like $30 an hour for each kid.

And we went from there.

And now there's a lot of liability when you take a volley.

It's a really aggressive shot.

The first year we actually entered a competition and, you know, everything was going great.

You know, we had our business plan, we had our organization, everything was solid.

And then they hit that with that question of, you know, do you have any plans for liability?

And we realized that there was one big gaping hole in terms of our organization liability for tax liability for tax liability protection.

We lost that award that year when we realized that, you know, when you're teaching tennis, there's it's really risky.

There's a lot of things that can go wrong in tennis.

Especially you have kids when they're singing that racket around.

You know, there's a lot of things that, you know, that can happen.

With a lot of things to protect ourselves and minimize risk.

But the first thing that we did was consult our lawyer.

So when you're writing contracts, you know, there's a few things you need to keep in mind.

Always seek a lawyer's advice.

You definitely.

And you seek a lawyer's advice.

We want as many barriers to lawsuit as we can get.

This one here is our independent contractor agreement that we have our coaches signed.

We definitely don't want our coaches taking our clients away and teaching by themselves.

So we have what's called a non-compete clause.

And so that means that they won't do that.

What we have right here is the the new client agreement or the waiver that a new student signs when they want lessons with us.

When they signed this, they agree to pay a set amount for the lessons that we give them.

And also they agree to waive the liability and they agreed not to hold us responsible in case any injuries occur.

Of course, we don't want to be sued.

That's why we have all these barriers to protect us.

After we had our legal issues sorted out, we went back to the business competition.

And we won $3,000.

Big check and a very nifty trophy too, and not to mention $40,000 scholarships.

So definitely pay for your liability protection.

Hey, this is a good contract that protects your assets.

Fire in the stand, clear.

Looks like you blow up the boss's car again.

I hope he's got it.

Gerald x 50 3 p.m.. Hey, let's go get the big egg in the pterodactyl nest.

I don't know.

That's pretty risky.

Risky?

We're hunters and gatherers.

But if the pterodactyl comes back, don't you see the risk involved?

No problem.

I have pterodactyl insurance.

Okay, let's risk it.

Well, see, no risk.

No reward.

Oh, what?

That a nice reward.

So how do you protect yourself or your company from risk?

By being.

Careful.

Okay, well, what do you mean by that?

Well, like, look, both ways.

Keep your hands inside the car.

Wear mittens in the snow.

Yeah.

No, no.

That worked in kindergarten.

But now it's time to learn to protect yourself from risk or liability.

While not liable a shortcoming or a drawback.

Anything that can cost you or your company money.

You're driving a car and you hit somebody in your car, you're liable for the damages.

Well, I guess.

There always is that.

Risk, and that's why you need liability insurance.

It's just another way to help protect yourself against risk.

You might say, to, rest assured, get insured, get liability insurance.

That's pretty cool.

Like, did somebody famous say that or.

No, not just me.

I got a million of them.

Don't be a schmo and go with the flow.

Get liability insurance, all that.

All right.

That's that's yes.

You know.

If they slip a disk because you took a risk, get liability insurance.

All right, Kevin, you're getting a little just kind of.

Don't be a nerd, stay insured, get liability insurance.

And I'm going to doctor later to remember.

Liability.

In this risky world.

The odds of a meteor on your house are 182,000,000,000,130.

I'm going to do one.

Fashion is a risky business.

Sometimes you're hot and sometimes you're not.

Your challenge was to design a safe product to sell.

Now that is a safe outfit.

You, on the other hand, hope you have some insurance for that.

I'm Christine.

I am a bit scared cause I'm one of the actors on the show.

With the camera.

Oh, there it is.

You're here today because we're here to talk about car insurance.

Hey, I know you.

You're a biscuit.

It doesn't matter how good of a driver you think you are because you can't control everything that happens on the road.

This is my car.

This is my baby.

My second car.

Because my first car was I was in an accident.

So I did have to go to the emergency room.

But luckily I had car insurance.

My insurance covers any medical bills that I happened.

If I get in an accident, I'm insured for collision.

I'm insured for theft.

If someone bashes in my window, I'm insured for uninsured drivers.

Charges are insured.

Sure.

By driving without insurance, if you get an accident, you have to pay for all the damages to the other car out of pocket.

You'll have to pay their medical bills, more medical bills, the damages to your car out of pocket.

Moral of the story.

It's risky to drive a car, but it's even more risky to drive without car crash.

Don't get caught walking the plank.

Get pirate insurance today at Forbes House of Pirate Insurance.

Get for it insurance are your walk a plank.

It won't cost you ransom at Bob's House of Pirate Insurance.

Ah, ooh.

I'm feeling a little bit seasick.

So let's go boating.

My name's Bryan Token.

I'm 18 years old.

My name is Jason Sorkin.

I'm 19 years old, and we're our best kids.

No, we're best kids.

We are.

They are the name our organizations Dreams and Dreams.

Six years ago we found in it to pretty much unite the cancer community with the community by taking out cancer patients, survivors and their families on boat rides like the one this afternoon and give them a respite from being in the hospital.

The best part of best daily is during the wedding.

Your face.

We're a nonprofit.

We're not doing this for fame or for profit.

We're just doing this to give back and something nice to do.

To take our because it's fun.

There are a lot of risks involved with running and planning an event for so many people.

Given that you have so many variables that could potentially go wrong.

Our biggest risk is the possibility of man overboard.

Both would lead and we have dealt with that through releases.

For the releases background, we knew that if we were taking people out on the water or engaging in any type of risky behavior we didn't want to be personally responsible to knew that there had to be an avenue through which we get the participants to take some of that responsibility upon themselves.

So we just researched how to write releases.

We looked at example releases because those can be very helpful and basically came up with a one page document that absolves us of.

We'll welcome.

Thank you.

In terms of the release, our mom's a lawyer and she was able to help us out with all the legal warning.

Every participant who comes needs to sign a waiver and they sign a waiver for themselves and for their children that are under 18.

When we're talking about risk, the first layer of defense is vigilance.

To make sure nothing goes wrong.

Check out my life jacket.

I got one, two, I got one, three.

The second layer of defense is the release.

I just happened to have a copy of the release right here.

We shall be in beams in dreams, liability release and indemnification form.

I acknowledge that by voluntarily reading and signing this document I am releasing Beams and dreams.

It's respective agents, officers, volunteers and affiliates from liability for personal injury, property damage or wrongful death caused by negligence or any other cause adverse weather conditions.

We got lucky.

It's a nice day.

This release is a contract with legal consequences.

I may be found by court of law to have waived my right to maintain a lawsuit against James and James on the basis of any claim from which I have released them here.

And I acknowledge that budding is an inherently dangerous activity and fully assumed the risks associated with this participation.

These risks and dangers may arise from foreseeable or unforeseeable causes.

I'm a pirate, Ira.

I've been advised to read this release carefully before signing.

Now, if you'll sign this, please.

I'm.

On my craft and I'm going to live here.

My risk and risk management will wonder if Penny knows I could throw down a 720 on my snowboard.

I wonder if Stan is smart enough to have health insurance.

In this risky world.

Your odds of having their identity stolen are 200 to 1.

Okay, so, you know, to watch out for risk.

On the street.

In your business.

In your life, risk is always there.

And the reality is you can't gain anything in life without taking some risk.

It only becomes dangerous if you take a risk.

That's not calculated.

What do you mean?

If you take a calculated risk, it means you've considered what could go wrong and then weigh that against the chances of things going right.

Yeah.

Like there's a risk in driving a car.

But most people know that the chances of arriving safely outweigh those of crashing.

So that's a calculated risk.

Same with investing.

If you invest in something, you can make a lot.

Of money.

But you could also lose all your money.

Oh, my God.

Awful.

Lose your money.

So you study and invest in good stocks to help lessen the risk of losing money.

Again, you take a calculated risk improving your chances of success, and that often leads to a reward.

So with any risk that has an upside, just remember to consider the downside and calculate if it's worth taking that chance.

I think we should take a risk and end the segment.

Known any 9.9.

It won't work.

Try again.

I've already tried twice.

This is getting too.

Risky, Maximus.

All right, I'll try one more time.

Missed it.

By that much doubt, Maximus smarty pants we never get So the.

Old sneaking through the door when nobody is looking in surprise Everyone tricked Well, 99.9.

I think I found a way for us to manage this risk.

What's that?

Maximus, run.

Yes.

I need two extra henchmen.

It looks as though he's going out, so he just dripped.

I'll get him my leg.

In other words, Fortune favors, the prepared.

And that's what you got to be prepared, Linda.

You can protect yourself by getting the right kind of insurance.

Don't get yourself into too much.

Keep an emergency fund around and track and protect your assets, that kind of thing.

I bet you're prepared for risk.

Honey, I got so much insurance.

Time for.

Another biscuit.

Medically, the worst risk you place.

Protect yourself with a vigilance.

Be insurance C extra savings d your worry if you answer A, B or C. Congratulations, whiz kid.

If you answer D. We suggest you go.

You know, risk is an interesting concept.

On one hand, nothing ventured, nothing gained.

Almost everything you ever do in your life carries some kind of risk.

We're not saying something bad will happen every time or even most of the time, but there's always a chance that something will.

You can avoid risk, but you can manage it.

If that fails, your backup is insurance.

So health insurance, if you get hurt or car insurance if somebody hits your car or business insurance if you have a small business.

Last, make sure you.

Save up for a rainy day.

I've got this for a rainy day.

Ooh.

Don't you know when you open up an umbrella indoors, it's bad luck.

Oh, I didn't know that meant bad luck for you.

It looks like he made a risk he could have managed.

Lucky.

Lucky.

Hey.

Guys, I need you to sign this television release.

Oh, we better show this to our.

Attorney, Mr. Don't you got here.

Tell us.

It's pretty standard.

Go ahead.

All right, fine.

It is fragile.

Look, if you don't get morning.

Crazy, I see why bring up third.

Liability liability.

Liability take five.

You might say to rest assurance, make sure you are insured.

July voltages.

Okay.

All right, so now you've heard some of our stories and we want to hear some of yours.

Maybe you or a friend have started your own business or thought of some ideas to help the community.

Yeah, we want to hear about those.

So go to CNN.com and share the good news.

Who knows?

Maybe you'll end up right here on the show.

Well, not exactly right here, but yeah, on the show from right here.

No, not really.

All right.

Here.

No, not there.

Production, funding and educational outreach for busy kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of credit union funders is available at WXXI Dawn.

Every day, America's credit unions help members with their financial needs and with programs, like, invest in America.

It's only fitting that credit unions support this kids because financial education is what we do.

Learn more at Love My Credit Union Board.