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 l.jpg

Step 1: Owner’s Objectives Defense

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 l.jpg

What about fears? Defense

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 l.jpg

Collect all Business and Personal Insurance Records Defense

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 l.jpg

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 l.jpg

The Business Owner’s Insurance Check List Buildings

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 l.jpg

Correct Transfer of all Entities Buildings

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 l.jpg

Personal Insurance Reviews for Insiders Buildings

Personal Umbrellas for Insiders

Bring in the Broker

Good Networking

She will Love You!

Step Five: Ownership Transfers to Insiders


Step six business continuity l.jpg

Business Income Insurance Buildings

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 l.jpg

Important P&C Insurance Issues Buildings

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 l.jpg

Employment Practices Liability Buildings

Fiduciary

Identity Theft

Social Media

Kidnap and Ransom

Emerging Markets: “I Mean Risks”


Slide12 l.jpg

Q&A Buildings

John E. Rogers

Gurry & Rogers


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