The Basics of Carpentry

Seth Koppes received a BS from the University of Missouri in Columbia and is now the CEO of Bancorp Services in St. Louis, Missouri. Outside his work life, Seth Koppes enjoys carpentry.

Carpentry is the art and science of working with wood to construct buildings, furniture, and other structures. It has been practiced for thousands of years and is still a highly sought-after skill in the construction industry. Whether you are a professional carpenter or a DIY enthusiast, having a basic understanding of carpentry is essential for creating quality projects.

The first step in carpentry is to familiarize yourself with the tools of the trade. A saw, hammer, chisel, and level are essential for carpentry projects. Additionally, you will need measuring and marking tools such as a tape measure, square, and pencil to ensure accurate cuts and placement.

It is important to choose the right type of wood for your project. Different woods have varying characteristics, such as grain patterns and strength, that can affect the outcome of your project. Softwoods like pine are often used for framing and structural work, while hardwoods like oak and cherry are preferred for furniture and decorative pieces.

Once you have your tools and materials, it is time to start building. Basic carpentry skills include measuring and cutting wood, joining pieces with nails or screws, and sanding and finishing the surface for a smooth, polished appearance. Working safely and wearing appropriate protective gear like safety glasses and gloves is important to avoid injury.

The basics of carpentry involve selecting the right tools and materials, measuring and cutting wood, and joining pieces together to create various structures and furniture. With practice and experience, anyone can master the art of carpentry and create beautiful, functional projects.

from WordPress https://ift.tt/8yAbJZm
via IFTTT

Sustainability in the Insurance Industry

Seth Koppes is the founder and CEO of Bancorp Services LLC, which was founded in 1993 and is located in St. Louis, Missouri. The company specializes in developing structured financial products for large financial institutions and Fortune 500 organizations. Asides from his main work, Seth Koppes also has extensive knowledge and a keen interest in the insurance industry.

Sustainability has become an increasingly important issue in the insurance industry, with insurers recognizing the need to address environmental, social, and governance (ESG) concerns in their operations. Many insurers have adopted sustainability policies and are taking steps to reduce their environmental footprint, promote social responsibility, and ensure good governance practices.

One key area where insurers are progressing is promoting the transition to a low-carbon economy. Many insurers are diverting from fossil fuel investments and increasing their investments in renewable energy and other sustainable technologies. In addition, insurers are developing new products and services to support climate adaptation and mitigation efforts, such as offering parametric insurance policies to help businesses and communities recover from climate-related events.

Insurers are also focusing on promoting social responsibility, including initiatives to promote diversity and inclusion, support employee well-being, and engage with local communities. Good governance practices, including transparent reporting and stakeholder engagement, are also a key focus for many insurers.

Overall, sustainability is becoming an increasingly important consideration for insurers as they seek to meet customers’ changing needs and address the challenges facing society as a whole.

from WordPress https://ift.tt/CO9ZKqV
via IFTTT

Types of BOLI Products

The founder and CEO of Bancorp Services, Seth Koppes is a financial professional who has dedicated his career to advancing the industry. With his expertise in finance and his commitment to finding the best solutions for his clients, Seth Koppes has made Bancorp Services a leading provider of BOLI products.

Banks purchase a type of life insurance policy called Bank-Owned Life Insurance (BOLI) to offset costs and cover liabilities in the event of the death of a key employee or executive. Insurance companies offer three types of BOLI products to banks. These are general accounts, separate accounts, and hybrid accounts.

In a general account product, the bank (the policyholder) makes payments to the insurance carrier’s general account. The insurance carrier can invest the money in diverse asset categories, such as real estate or bonds. The insurance carrier can provide some information about its general account holdings, but is not obligated to provide precise details on how the BOLI contributions are used. General account products are the most common BOLI products.

Under a separate account product, the insurance carrier separates its holdings from its main account and places them in bank-eligible investments. Fund managers are in charge of the investments, and provide comprehensive reporting on the assets in the portfolio. Using a type of ratio called yield-to-worst ratio, the carrier determines the amount of interest that is credited to the policy’s cash value. There is no guaranteed minimum amount of interest.

Hybrid accounts are structured in a manner similar to separate account products, which means the BOLI proceeds are separated from the carrier’s general account and detailed reporting is available. And like general account products, hybrid accounts have a guaranteed minimum amount of interest on the policy’s cash value.

from WordPress https://ift.tt/iRwZusn
via IFTTT