As a business owner, there are a plethora of choices when it comes to insurance. This webinar touches upon all you need to know about General Liability, Umbrella/Excess Coverage, Commercial Auto Insurance, and Workers’ Compensation insurance. General liability coverage protects the business from third party suits for Property and Bodily Injury claims. The panelists also look at potential product liability or intellectual property exposure that is not covered. Most business owners understand that commercial umbrella is a must, but how do you determine how much is the right amount? The panelists will also examine why Hired/Non-Owned is important when it comes to Commercial Auto coverage.The panelists will also touch upon best practices for managing employees who drive for your business with their own cars. The panelists will also cover Workers’ Compensation insurance. Topics discussed include managing the costs of the insurance itself as well as the proper management of workers compensation claims. Other topics discussed include codes and classification errors, how to get money back from the insurer, as well as best practices for Independent Contractors. To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/general-liability-umbrella-excess-coverage-commercial-auto-workers-compensation-2021/

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Practical and entertaining education for
attorneys, accountants, business owners and
executives, and investors.

4. Disclaimer
The material in this webinar is for informational purposes only. It should not be considered
legal, financial or other professional advice. You should consult with an attorney or other
appropriate professional to determine what may be best for your individual needs. While
Financial Poise™ takes reasonable steps to ensure that information it publishes is accurate,
Financial Poise™ makes no guaranty in this regard.
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5. Meet the Faculty
MODERATOR:
Eric Hampton - Rudolph Kaplan LLC
PANELISTS:
Harvey Topitz - Rivers Insurance Group
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6. About This Series –
Insurance for the Business Owner 101
There’s one type of contract that virtually every business in the United States enters into each
and every year: their insurance contract(s). Despite being bound by and paying (sometimes
handsomely) for these contracts, they’re not always well understood by the business.
Questions as fundamental as what risks should be insured (v. self-insured or mitigated via
contract) and for how much or what losses will actually be covered and at what value are
simply not commonly understood. This Financial Poise webinar series teaches business
owners, executives and their trusted advisors, what they should know about their property &
casualty insurance so they understand how best to protect their assets and people in the
most cost effective manner.
Each Financial Poise Webinar is delivered in Plain English, understandable to investors, business owners, and
executives without much background in these areas, yet is of primary value to attorneys, accountants, and other
seasoned professionals. Each episode brings you into engaging, sometimes humorous, conversations designed to
entertain as it teaches. Each episode in the series is designed to be viewed independently of the other episodes so that
participants will enhance their knowledge of this area whether they attend one, some, or all episodes.
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7. About This Webinar –
General Liability, Umbrella/Excess Coverage, Commercial
Auto/Workers’ Compensation
As a business owner, there are a plethora of choices when it comes to insurance. This webinar touches upon all you
need to know about General Liability, Umbrella/Excess Coverage, Commercial Auto Insurance, and Workers’
Compensation insurance.
General liability coverage protects the business from third party suits for Property and Bodily Injury claims. The panelists
also look at potential product liability or intellectual property exposure that is not covered. Most business owners
understand that commercial umbrella is a must, but how do you determine how much is the right amount? The panelists
will also examine why Hired/Non-Owned is important when it comes to Commercial Auto coverage.The panelists will also
touch upon best practices for managing employees who drive for your business with their own cars.
The panelists will also cover Workers’ Compensation insurance. Topics discussed include managing the costs of the
insurance itself as well as the proper management of workers compensation claims. Other topics discussed include
codes and classification errors, how to get money back from the insurer, as well as best practices for Independent
Contractors.
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8. Episodes in this Series
#1: Understanding Risk Management Basics for Business Owners
Premiere date: 6/23/21
#2: Property/Business Interruption and Cyber Liability
Premiere date: 7/21/21
#3: General Liability, Umbrella/Excess Coverage, Commercial Auto, Workers’ Compensation
Premiere date: 8/18/21
#4: Executive Protection – Directors’ & Officers’, Employment Practices Liability,
Crime/Employee Dishonesty & Professional Liability
Premiere date: 9/29/21
#5: Personal Lines for the Business Owner/Executive
Premiere date: 11/10/21
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9. Episode #3
General Liability, Umbrella/Excess Coverage, Commercial
Auto, Workers’ Compensation
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10. Types of Insurance Covered Today
✓ General Liability
✓ Umbrella/Excess Coverage
✓ Commercial Auto Insurance
✓ Workers’ Compensation

11. General Liability
✓ Protects the business from third party suits for property and bodily injury claims
✓ Claims that come up during normal business operations.

12. General Liability – What Does It Cover?
✓ Third-party bodily injury – slip and fall
✓ Third-party property damage – if your business damages someone else’s belongings
✓ Reputational harm – if your business is sued for libel or slander because of something you
or your employees said
✓ Advertising injury – protect against copyright infringement
✓ Legal defense and any related judgments

13. General Liability – What It Might Not Cover
✓ Work-related injuries or illnesses sustained by employees
✓ Damage to your own business property
✓ Mistakes made in your business’ professional services
✓ Commercial automobile accidents

14. General Liability – Why Your Business Needs It?
✓ Slip and falls are a common claim against businesses and are expensive to defend
✓ Might need proof of insurance to work with other businesses

15. Product Liability Exposure
✓ General liability insurance likely will not cover products liability
o However, general liability and products liability insurance can supplement each other
✓ Products liability insurance will cover
o Design defects – exist before the product was made
o Manufacturing defects – occurs during production
o Strict liability
o Improper warning

16. Intellectual Property Exposure
✓ More specific and provides coverage that general liability might not
✓ Coverage against intellectual property infringement (including patents)
o Can be both defensive or offensive infringement protection
✓ Usually few limitations, but can be a lengthy underwriting process

17. Umbrella/Excess Coverage
✓ An extra insurance that provides protection beyond existing limits and coverages of other
policies
✓ Can provide coverage for
o Injuries
o Property damage
o Certain lawsuits
o Personal liability situations.

18. Umbrella/Excess Coverage (cont’d)
✓ Can also provide coverage for claims that may be excluded by other policies
o False arrest
o Libel
o Slander
o Rental units
✓ Can also provide coverage above existing homeowners, auto, or watercraft policy
coverage

19. Umbrella/Excess Coverage – Usually Does Not
Include:
✓ Injuries or damage to personal property
✓ Criminal or intentional action causing damage to someone else
✓ Assumed liability under a contract
✓ Business losses

20. Umbrella/Excess Coverage – How Much Does Your
Business Need?
✓ Factors
o Value of assets
o How many other insurance policies does your business carry?
▪ What are the limits of those policies?

21. Commercial Auto Insurance
✓ Covers legal bills, medical expenses, and vehicle/property damage if a business vehicle is
involved in an accident
✓ If your business owns a company vehicle, you will need commercial auto insurance
✓ Almost all states require commercial auto insurance coverage for business-owned
vehicles

22. Commercial Auto Insurance (cont’d)
✓ Does not provide coverage for personal vehicles
✓ If your employees drive personal vehicles for business purposes, make sure you have the
correct coverage
o Hired and Non-Owned Auto Insurance

23. Commercial Auto Insurance (cont’d)
✓ Hired and Non-Owned Auto Insurance
o Includes rented vehicles and employees’ personal vehicles for work errands
o This does not cover accidents that occur during commutes or personal errands during
business hours.

24. Workers’ Compensation Insurance
✓ Gives employees benefits if they get a work-related injury or illness.
✓ Covers:
o Medical care
o Most of lost wages if need time off
o Disability benefits
o Funeral costs

25. Workers’ Compensation Insurance (cont’d)
✓ Applicable if employees
o Trip walking up the stairs at work
o Develop carpal tunnel syndrome from work
o Get hurt in a car accident while working
o Lifting heavy equipment
o Injury due to fire or explosion

26. Workers’ Compensation – Factors Insurers Consider
✓ Business Payroll
✓ Industry
✓ Employees' type of work
✓ Claims history

27. Workers Compensation - Considerations
✓ Workers’ Compensation insurance is required in almost every state, and also varies by
state
✓ Workers’ Compensation is important to properly manage
o Can you get money back from your insurer?

28. Workers’ Compensation
✓ Codes and classification errors
✓ Best practices for Independent Contractors
o Included in Workers’ Compensation?

29. Remote Working Challenges For Insurance Purposes
✓ General Liability
✓ Umbrella/Excess Coverage
✓ Commercial Auto Insurance
✓ Workers’ Compensation
Coverage for each of these for employees working remote or hybrid?

30. About the Faculty
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31. About The Faculty
Eric Hampton, Rudolph Kaplan, LLC – ehampton@rudolphkaplan.com
Eric is an associate attorney with Rudolph Kaplan, LLC and focuses his practice on commercial
and residential real estate transactional matters; real estate disputes involving condominium
associations, unit owners, developers, and contractors; and related litigation matters. Eric has
experience representing a variety of entities in all stages of commercial litigation and construction
law cases. Eric received his Bachelor of Arts degree from Kansas State University in 2014. Eric
earned his Juris Doctorate degree from The University of Iowa College of Law in 2018, where he
was a writer on the Journal of Corporation Law, worked on estate planning matters in The
University of Iowa Clinical Law Program, and worked as a research assistant. During the summer
following his second year of law school, Eric worked as a summer associate at a boutique
corporate restructuring law firm in Chicago. Eric is admitted to practice law in the State of Illinois
and the Northern District of Illinois.
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32. About The Faculty
Harvey Topitz, Rivers Insurance Group – htopitz@ri-gi.com
Harvey is the founder and principal of Rivers Insurance Group. Harvey is a graduate of City University of
New York with a Bachelor of Science degree in economics/accounting. He is a non-practicing NYS Certified
Public Accountant. Harvey has more than 39 years of experience in the insurance industry, placing property
casualty insurance for all industries and specializing in providing coverage for those businesses hardest to
insure. He began his insurance career at Liberty Mutual, where he was awarded Top Producers designation
and was a member of the prestigious Millionaires Club.At BRI Insurance Brokerage he introduced innovating
programs such as an asbestos abatement contractor’s program.While with Tanenbaum Harber, now
Alliant/T&H Brokers, he excelled in the hard-to-insure employee leasing industry (PEO) and the
entertainment sector insuring celebrities like EMINEM and 50 Cent. Harvey founded Rivers Insurance Group
in 2005. Harvey saw a void in the difficult to place coverage area for companies that were in distress or
working through a Chapter 11 Reorganization. Trustees, Bankruptcy Lawyers and Turnaround professionals
know that Topitz and his team at Rivers Insurance can get the coverage that most brokers run away from. He
has been on the Board of Directors of the New Jersey Turnaround Management Association for almost 10
years and is known as the Go-To Insurance Guru.
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33. Questions or Comments?
If you have any questions about this webinar that you did not get to ask during the live
premiere, or if you are watching this webinar On Demand, please do not hesitate to email us
at info@financialpoise.com with any questions or comments you may have. Please include
the name of the webinar in your email and we will do our best to provide a timely response.
IMPORTANT NOTE: The material in this presentation is for general educational purposes
only. It has been prepared primarily for attorneys and accountants for use in the pursuit of
their continuing legal education and continuing professional education.
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34. About Financial Poise
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DailyDAC LLC, d/b/a Financial Poise™ provides
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business owners and executives, and investors. It’s
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entertaining, explanations about legal, financial, and
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