the role of p c insurance in exit planning playing for the defense
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The Role of P&C Insurance in Exit Planning: Playing for the Defense. John E. Rogers Gurry & Rogers. Step 1: Owner’s Objectives Step 2: Business and Personal Financial Resources Step 3: Maximizing and Protecting Business Value Step 4: Transfers to Third Parties

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Presentation Transcript
where does p c insurance fit in the exit planning process
Step 1: Owner’s Objectives

Step 2: Business and Personal Financial Resources

Step 3: Maximizing and Protecting Business Value

Step 4: Transfers to Third Parties

Step 5: Transfers to Insiders

Step 6: Business Continuity

Step 7: Personal Wealth and Estate Planning

Where Does P&C Insurance Fit in the Exit Planning Process?
step one owner s objectives
What about fears?

First, we find out what they want to do.

Next, delve into their dangers.

What do they worry about?

What keeps them awake at night?

Step One: Owner’s Objectives
step two business and personal financial resources
Collect all Business and Personal Insurance Records

Policy Declaration Pages

Certificates of Insurance

Policy Summary Pages

Recruit the Broker as Part of the “Team”

Step Two: Business and Personal Financial Resources
the business owner s insurance checklist
Replacement Cost Insurance Limits & Deductibles for Buildings

Replacement Cost Insurance Limits & Deductibles for Contents

Earthquake & Flood Insurance Limits & Deductibles

Estimated Market Values for Mobile Equipment (e.g. Bulldozers)

Business Income/Business Interruption Insurance Limits

Employee Dishonesty Insurance Limits

General & Professional Liability Insurance for all activities & entities

Auto Insurance Liability Limits and Deductibles

Employment Practices Liability Limits & Management Procedures

Personal Auto, Home, Boat, (etc.) and Personal Umbrella

Worker’s Compensation: In State/Out of State/Out of Country

Business Life & Disability for Buy Sell/Key Person/Estate Planning

The Business Owner’s Insurance Checklist
step three maximizing and protecting business value
The Business Owner’s Insurance Check List

Match the “Worries and Concerns (step 1) to the insurance summaries.

Involve the broker as part of the team.

Review and discuss all of the items with both the business owner and the broker.

Step Three: Maximizing and Protecting Business Value
step four ownership transfers to third parties
Correct Transfer of all Entities

Watch for Real Estate

Tail Professional and Product Liability Exposures

The Broker will Love You!

Step Four: Ownership Transfers to Third Parties
step five ownership transfers to insiders
Personal Insurance Reviews for Insiders

Personal Umbrellas for Insiders

Bring in the Broker

Good Networking

She will Love You!

Step Five: Ownership Transfers to Insiders
step six business continuity
Business Income Insurance

Protect Business Operational Overhead

Protect Business Net Income

Equipment Breakdown

Electrical Disturbance

Loss of Power

Step Six: Business Continuity
step seven personal wealth and estate planning
Important P&C Insurance Issues

Personal Liability Limits (Personal Umbrella)

Real Estate and Personal Property

Trust Planning

Children of the Insured

Step Seven: Personal Wealth and Estate Planning
emerging markets i mean risks
Employment Practices Liability

Fiduciary

Identity Theft

Social Media

Kidnap and Ransom

Emerging Markets: “I Mean Risks”
slide12

Q&A

John E. Rogers

Gurry & Rogers

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