Insurance For The Business Owner – 101

Series Overview:

Every business in the United States enters into insurance contracts each year, yet these contracts are often not well understood. Despite paying significant premiums, businesses frequently have unclear answers to essential questions such as:
• What risks should be insured, versus self-insured or mitigated through contracts?
• What types of losses are covered, and at what value?
• Are there any gaps in coverage that could leave the business exposed?
• How do policy exclusions and limitations impact potential claims?
• What is the appropriate amount of coverage based on the business’s assets, operations, and risk profile?
• How can the business ensure that its policies remain compliant with changing regulations and evolving risks?

The lack of understanding is due, at least in part, to (a) the fact that insurance policies are commonly written in an archaic, byzantine fashion, with needless legal jargon, and internal organization that could hardly be less logical than if their draftspeople tried; and (b) the fact that for whatever reason, it is common for businesses to rely on their insurance brokers to the exclusion of their attorneys when obtaining or renewing insurance coverage. This is not to minimize the role of brokers; quite to the contrary, they add great value. However, an attorney experienced in insurance law or who knows the company very well can add significant value to the process.

This webinar series cuts through the mess and explains basic insurance concepts and common policy language. It also provides a framework for better deciding what coverages and amounts are appropriate given a set of particular circumstances.

Webinars in this Series:

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