Lifecycle Financial Planning - Small Business Planning - Insuring Closely-Held Businesses & Their Owners

Overview

Insuring the needs of a small business owner can be difficult. Even when one is operating primarily from their own house, personal insurance policies often exclude business activities. Therefore, the business owner will often find themselves needing a combination of both commercial and personal insurance policies. However, which policies will the client need on the commercial side? Is underwriting difficult? And perhaps most importantly, are there any tips to helping the client save money on their premiums? In this course, we will explore these questions and many others, so that advisors can be a better resource for their small business clients.

Highlights

• Insuring Small Business Owners
• Risk Financing vs Risk Control Measures
• Sections of a Property & Casualty Insurance Policy
• Business Owners Policy (BOP)
• Common Commercial Property Conditions
• Commercial General Liability (CGL) Policies
• Professional Liability vs CGL Policies
• Buildings & Personal Property Coverage
• Business Income Insurance
• Commercial Crime Policies
• Cyber & Privacy Insurance Policies
• Other Planning Issues
• Summing It Up

Prerequisites

A basic understanding of risk management and insurance policies.

Designed For

Financial advisors and insurance professionals who advise small business clients on insurance issues.

Objectives

• Identify what makes insuring a closely
• held business unique.
• Identify the basic parts of a P&C insurance policy
• Recognize the basic approach to building an insurance program for a company
• State the coverages and exclusions for commercial package, building & property, and cyber insurance policies.

Preparation

None

Notice

This is a self-study/on demand course offered by a 3rd party vendor. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.