Corporate Insurance Needs

What Kinds of Coverage? What kinds of risks does your company have? – Restaurant Food poisoning Slip and fall Choking Parking lot accidents Liquor Liability Business Interruption Boiler and machinery

Different Company, Different Policy What additional kind of coverage would a bank have? – Director’s and Officers Insurance In case my CEO makes a big error and loses the company money – Cyber crime (Identify Theft) – Bank Robbery (Kidnap and Extortion rider) – Mail (for Mail Fraud/Stolen Checks/Forgeries)

Different Company, Different Policy What additional kind of coverage would a school district have? – Equipment Theft Computers – Employment Discrimination – Fleet Liability (school buses) – Professional Liability (protecting staff and administrators against parent lawsuits)

Scenarios A company officer dies suddenly – Like Dave Goldberg, CEO from Survey Monkey – Who is going to run the company? – How do you find a successor? – Does this interrupt the company business?

Scenarios You’re making a movie sequel to a big hit – Halfway through filming, your main character dies in real life – What happens next? – How do you recoup the loss?

Scenarios You store a collection of record album artwork – The warehouse burns to the ground and everything is lost – What happens now?

Scenarios Shortly after the resignation of your accountant, you discover that she has been writing company checks to herself and family members for the past fifteen years – How do you deal with the situation? – What insurance will cover your cost of the investigation and loss of money?

Scenarios An employee falls off a scaffolding and dies after a long hospitalization – What costs are involved and who pays them?

Other Perils Think about the franchise you researched List the perils they might face (10 points)