This seminar is designed for CEOs, CFOs, presidents, vice presidents, human resource managers, benefits managers, controllers, risk managers, consultants, business analysts, insurance professionals and legal counsel.
The materials and presentations offered at this highly informative seminar will provide you with the working knowledge you need to more confidently and effectively audit your company’s insurance program. Discussions will focus on how to identify and correct unfavorable terms, and even more importantly, save your company money. Experienced professionals will cover the key elements of a successful audit, the various insurance coverages available, and how to customize policies to meet your company’s needs. Techniques for developing an effective risk management program will also be explored.
8:30 a.m. - 9:00 a.m.
I. Introduction And An Overview Of The
Insurance Audit Process
9:00 a.m. - 10:30 a.m.
II. Performing An Effective And Accurate
Audit For Your Insurance Program
A. Commercial Property And Casualty Insurance Programs
1. Identifying Gaps In Your Coverage
2. Concealed Exclusions
3. Identifying Other Unfavorable Terms And Conditions
4. Common Pitfalls With Certificate Of Insurance And Additional Insured Status
B. Group Employee Benefit Programs
1. Fully Insured vs. Self Insured Programs
2. Employer Paid vs. Employee Paid Benefits Plans
3. Other Hot Employee Benefit Topics (COBRA, HIPAA, FLMA, etc.)
C. Auditing Personal Insurance Exposures
10:30 a.m. - 10:40 a.m.
10:40 a.m. - 12:10 p.m.
III. Maximizing Your Coverage
A. Negotiating Coverage And Price
B. Understanding Of Different Types Of Coverages Available
1. Standard Coverages
2. Directors And Officers Liability Insurance
3. Management Liability Insurance
4. Employment Practice Liability Insurance
5. Fiduciary Liability Insurance
6. Employers Liability Insurance
7. Miscellaneous Professional Errors And Omissions Coverage
8. Cyber Liability
9. Other Coverages
12:10 p.m. - 1:10 p.m.
Lunch (On Your Own)
1:10 p.m. - 2:25 p.m.
III. Maximizing Your Coverage (Continued)
C. Balancing Costs vs. Risk
D. Customizing Your Policy To Meet Your Company’s Needs
E. Practical Considerations Associated With Hiring An Agent To Help You Purchase Corporate Insurance Coverages
1. Bidding Insurance vs. Selecting An Agent
2. Using Third Party Consultants
3. A Methodology For The Risk Buying Process
4. What To Expect Of Your Agent
2:25 p.m. - 2:35 p.m.
2:35 p.m. - 3:20 p.m.
IV. Various Risk Financing Options
A. Fully Insured vs. Self Insured Programs
B. Various Forms Of Captive Insurance
C. Practical Considerations With The “Alternative Risk Transfer” (ART) Marketplace
3:20 p.m. - 4:30 p.m.
V. Establishing An Effective Risk
A. Safety/Loss Control Management
1. Management Visions And Commitment
2. Organizational Structure 3. Compliance And Regulatory Agencies
4. External Resources
B. Employment Practices (Other Than Payroll And Benefits)
1. Hiring And Selection
2. Evaluation And Discipline
3. Employee Handbook And Policies
C. Document Controls
1. Governing Documents And Policies
2. Operational Procedures
3. Working Records
D. Self-Evaluation Systems
E. Insurance Carrier Interaction
1. Proof Of Program Maintenance
2. Indentifying And Correcting Losses
3. Evidence Of Imposing Trends