CFO Series: Insurance- How to Manage Your Insurance Program?

Overview

At its core, insurance is risk management. What insurance does the organization need? What types? What limits should we buy? How large of a deductible should we accept? What is the difference between a deductible and a self-insured retention? What do I need to know about insurance contracts? What should I expect of my insurance broker? What coverage is available and what do I need to buy? Specifically designed for any leader responsible for insurance and risk, the insurance function is critical to the ongoing viability of an organization. We will review a practical approach to managing insurance.

Prerequisites

General understanding of risk and insurance.

Objectives

After attending this presentation, you will be able to...

• Comprehend insurance law and issues regarding the selection of insurance policies.
• Deploy proven tactics to effectively manage the insurance function.
• Appreciate insurance exceptions and exclusions

Highlights

The major topics that will be covered in this course include:

• How are risks managed?
  • What is risk transfer?
• What does an insurance broker do, how do we choose a broker, and how should we pay them?
• What can insurance protect against?
• Deductibles, self-insurance, and captives.
• Issues affecting different classes of insurance regarding claims and accessibility.
• Actions you need to take in addition to securing insurance.
• Umbrella policies and how they attach above the primary.