SCORE: What Insurance Does My Business Need?

Within this 60-minute discussion, we will summarize and review the various elements of Employee Benefits & Owner/Key Employee 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.

Employee Benefits and Protection

Health Insurance

• What coverage options are available
• Where to obtain coverage
• Employer-sponsored versus individual plans
• Small business marketplace options
• Cost-sharing considerations

Life Insurance

• Coverage for employees
• Owner and partner protection
• Key employee insurance
• Buy-sell agreement funding

Disability Insurance

• Short-Term Disability (STD)
• Long-Term Disability (LTD)
• Income replacement strategies
• Employer-sponsored options

Ancillary Benefits

Additional employee benefit options may include:

• Dental insurance
• Vision insurance
• Accident insurance
• Critical illness coverage
• Employee assistance programs

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

Get a good agent/agency

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

The Facilitator for the Workshop is SCORE Mentor 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.