Within this 60-minute discussion, we will summarize and review the various elements of Workers Compensation, Property, Casualty & Liability insurance that a business may need, want, or desire as part of an overall risk management strategy.

This presentation is designed for small business owners, entrepreneurs, startups, and managers who want a practical understanding of the insurance protections available to their business.

Types of Business Insurance

Workers’ Compensation Insurance

· Who is required to have coverage

· Employee eligibility

· State requirements

· Common workplace injury protections

· Employer responsibilities

Property Insurance

We will discuss the six general areas of property risk and coverage, including:

· Buildings and structures

· Business personal property

· Equipment and machinery

· Inventory and supplies

· Business interruption

· Electronic data and records

Casualty Insurance

We will review the six general areas of casualty risk and coverage, including:

· Liability exposures

· Vehicle-related risks

· Employee-related claims

· Legal defense costs

· Theft and dishonesty

· Specialized business risks

General Liability Insurance

Discussion will include the seven major areas of general liability protection, such as:

· Bodily injury

· Property damage

· Personal injury

· Advertising injury

· Products and completed operations

· Medical payments

· Legal defense costs

. Where to Get Assistance

We will also discuss:

· How to evaluate insurance needs

· Working with insurance brokers and agents

· Understanding policy language

· Comparing insurance proposals

· Managing insurance costs

· Resources available to small businesses

Align with a good agent/agency

The Facilitator for this Workshop is SCORE Member David Grunke. David has more than 45 years of health plan administration experience. David has held management positions in claims, customer service, enrollment, provider contracting, marketing and sales. David gained his experience through employment at two major insurance companies, a Pharmacy Benefit Manager, and a large independent insurance agency. David was on the faculty of Milwaukee Technical College teaching both Accounting and Sales/Marketing courses.

David is currently a faculity member of the National Alliance for Insurance Reasearch and Education. He uses his industry experience to teach numerous clases on behalf of the National Alliance.

Key Takeaways

At the end of this session, participants will:

· Understand the core types of business insurance

· Learn which coverages may be mandatory or recommended

· Identify common business risks

· Better understand employee benefit options

· Know where to seek professional guidance and support