Prospect High students learn about risk management

On Wednesday, Jan. 23, Howard Mack of Aback & Associates visited with five students from the Young Entrepreneurs Academy, or YEA, at Prospect High School to discuss the importance of insurance and risk management.

Mack taught students that in order to avoid health and legal liability, risk management procedures need to be put in place before starting any new enterprise or social movement. He also discussed how an organization establishes its risk management goals and objectives, as well as how to identify and analyze risk and liability.

Aback & Associates is at 1100 W. Northwest Hwy. in Mount Prospect.

As part of the YEA program, students are introduced to all facets of the business world including, but not limited to, advertising, insurance agents, graphic designers and Web developers. YEA is a Mount Prospect Chamber of Commerce program with major support from the Robert Bosch Tool Corporation and American Chartered Bank.

The Young Entrepreneurs Academy or YEA, is a groundbreaking educational program that takes students in grades nine-12 through the process of starting and running real businesses over the course of a full academic year. Students work in close cooperation with local leaders of industry, community members and educators to develop ideas and objectives, write business plans, pitch potential investors, obtain funding, register with governmental agencies, develop their brand identity and much more. By the end of the class, students own and operate fully functioning businesses that can be carried on after graduation.

For information about the Young Entrepreneurs Academy, call (585) 272-3535 or visit www.yeausa.org.

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