A presentation delivered at "Healthy Australian Agribusiness 2020+" in Adelaide on 23-8-18, for a group of 100 leaders of agribusiness, discussing common risks and insurance considerations from an insurance brokers vantage point.
A captive insurance company is a privately owned insurance company that insures the risks of its owner. There are several types of captives including single-parent, multi-parent, agency, and protected cell captives. Captive Dynamics helps potential captive owners find and select the best captive manager to form and manage their captive. An ideal captive insurance company is a single-parent captive that can provide benefits like asset protection, estate planning, and tax management in addition to insuring risks.
Weaver Tidwell Wealth Management provides financial advisor coaching services to address all financial needs including tax, legal, insurance, psychology, and investments. Most people have three options for investments - doing it themselves, using an investment broker, or hiring a financial advisor coach. Hiring a financial advisor coach is the best option as they will get to know the client, assess their goals and risk tolerance, develop customized plans, recommend appropriate solutions not limited to one firm, monitor progress towards goals, and make recommendations without commissions to prevent costly mistakes.
This document invites attendees to a shareholder protection and corporate governance forum taking place on January 30th, 2014 in Amsterdam. The forum will provide a critical update on collective, representative, and class action lawsuits in Europe and beyond. Attendees will hear from experts including the former CEO of Olympus on how stakeholders can achieve corporate governance reform. The event is designed for pension funds, institutional investors, asset management firms, and custodian banks. Registration can be completed by calling +44 (0) 20 7878 6888 or online at www.C5-Online.com/Shareholderprotection.
Keys to Navigating Insurance Renewals: Preparation and Accurate DataCBIZ, Inc.
Your next insurance renewal is unlikely to be as straightforward as it may have been in the past. The hard market and COVID-19 impacts have added complexities, which makes it crucial to prepare early for your insurance renewal. Regardless of the type of insurance coverage, there are certain questions you should think through.
This document outlines an "Ethical Investment Checklist" which is a system and set of 7 fundamentals to evaluate potential investments. The fundamentals cover topics such as investment structure, exit strategy, profitability, security/transparency, track record, investment manager incentives, and business plan. The goal is to empower investors to make clear and informed decisions by understanding what questions to ask and what characteristics define an "ethical investment". Ethical investments consider environmental, societal and economic impacts, and the document provides examples of questions to assess a company's ethics.
The document discusses various types of energy investments and cautions investors to be wary of fraudulent practices. It outlines common ways energy investments are offered, including commodities, ETFs, private placements, crowdfunding, partnerships, and stocks/bonds. However, these investments are highly risky and promoters sometimes operate fraudulent shell companies or skim profits, leaving investors with little return. The document advises investors to do their research, ask questions, understand any investment fully before investing, and be wary of high-pressure sales tactics related to energy opportunities.
This document discusses estate planning strategies for preserving, enhancing, and transferring personal wealth. It explains that an estate owner's responsibilities are complex, requiring efficient strategies to manage taxes, investments, gifts, and the transfer of wealth to heirs. Customized estate plans are important to realize the goals of the estate owner. Various trusts and business entities are described that can minimize taxes and ensure the efficient transfer of assets to beneficiaries while protecting the estate. The document emphasizes that with the help of competent advisors, estate owners' needs can be addressed through customized solutions and integrated estate planning.
This document summarizes sources of financial capital for startups in Sweden. It discusses estimating capital needs, including tangible and intangible assets. Sources of capital include grants, loans, bootstrapping, friends and family, crowdfunding, angel investors, venture capital, and later-stage options like buyouts and IPOs. Each source involves different tradeoffs in terms of control, risk bearing, equity dilution, and growth expectations. Crowdfunding can help validate the market, pricing, and build a brand or community.
A captive insurance company is a privately owned insurance company that insures the risks of its owner. There are several types of captives including single-parent, multi-parent, agency, and protected cell captives. Captive Dynamics helps potential captive owners find and select the best captive manager to form and manage their captive. An ideal captive insurance company is a single-parent captive that can provide benefits like asset protection, estate planning, and tax management in addition to insuring risks.
Weaver Tidwell Wealth Management provides financial advisor coaching services to address all financial needs including tax, legal, insurance, psychology, and investments. Most people have three options for investments - doing it themselves, using an investment broker, or hiring a financial advisor coach. Hiring a financial advisor coach is the best option as they will get to know the client, assess their goals and risk tolerance, develop customized plans, recommend appropriate solutions not limited to one firm, monitor progress towards goals, and make recommendations without commissions to prevent costly mistakes.
This document invites attendees to a shareholder protection and corporate governance forum taking place on January 30th, 2014 in Amsterdam. The forum will provide a critical update on collective, representative, and class action lawsuits in Europe and beyond. Attendees will hear from experts including the former CEO of Olympus on how stakeholders can achieve corporate governance reform. The event is designed for pension funds, institutional investors, asset management firms, and custodian banks. Registration can be completed by calling +44 (0) 20 7878 6888 or online at www.C5-Online.com/Shareholderprotection.
Keys to Navigating Insurance Renewals: Preparation and Accurate DataCBIZ, Inc.
Your next insurance renewal is unlikely to be as straightforward as it may have been in the past. The hard market and COVID-19 impacts have added complexities, which makes it crucial to prepare early for your insurance renewal. Regardless of the type of insurance coverage, there are certain questions you should think through.
This document outlines an "Ethical Investment Checklist" which is a system and set of 7 fundamentals to evaluate potential investments. The fundamentals cover topics such as investment structure, exit strategy, profitability, security/transparency, track record, investment manager incentives, and business plan. The goal is to empower investors to make clear and informed decisions by understanding what questions to ask and what characteristics define an "ethical investment". Ethical investments consider environmental, societal and economic impacts, and the document provides examples of questions to assess a company's ethics.
The document discusses various types of energy investments and cautions investors to be wary of fraudulent practices. It outlines common ways energy investments are offered, including commodities, ETFs, private placements, crowdfunding, partnerships, and stocks/bonds. However, these investments are highly risky and promoters sometimes operate fraudulent shell companies or skim profits, leaving investors with little return. The document advises investors to do their research, ask questions, understand any investment fully before investing, and be wary of high-pressure sales tactics related to energy opportunities.
This document discusses estate planning strategies for preserving, enhancing, and transferring personal wealth. It explains that an estate owner's responsibilities are complex, requiring efficient strategies to manage taxes, investments, gifts, and the transfer of wealth to heirs. Customized estate plans are important to realize the goals of the estate owner. Various trusts and business entities are described that can minimize taxes and ensure the efficient transfer of assets to beneficiaries while protecting the estate. The document emphasizes that with the help of competent advisors, estate owners' needs can be addressed through customized solutions and integrated estate planning.
This document summarizes sources of financial capital for startups in Sweden. It discusses estimating capital needs, including tangible and intangible assets. Sources of capital include grants, loans, bootstrapping, friends and family, crowdfunding, angel investors, venture capital, and later-stage options like buyouts and IPOs. Each source involves different tradeoffs in terms of control, risk bearing, equity dilution, and growth expectations. Crowdfunding can help validate the market, pricing, and build a brand or community.
Understanding Risk Management Basics for Business Owners (Series: Insurance f...Financial Poise
This expert panel embarks upon a discussion of key elements of risk management such as the 5-Steps of the Risk Management Process, Understanding 3 Main Types of Loss Exposures, Measuring Loss Exposures, and 5 Types of Risk Control. We’ll discuss Insurance Distribution, Wholesale v. Retail Insurers and Policies to give a business owner an understanding of what to look for in a carrier, a broker and how underwriters operate. We’ll also review some general best practices for Safety and Loss Control applicable to many businesses. In light of current circumstances, we’ll discuss safety measures for employees working from home.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/understanding-risk-management-basics-for-business-owners-2021/
Asset owners are rethinking their investment strategies and governance models in response to regulatory changes and a low-yield environment. They are moving away from traditional asset class silos towards more holistic risk management across asset classes. This includes increasing allocations to more complex, illiquid assets. Both larger and smaller asset owners are evaluating whether to outsource or run investment strategies internally based on factors like control, expertise, and costs. Bringing some strategies in-house can help reduce costs but smaller funds often have fewer options due to challenges retaining specialized talent.
An emerging consensus
A consensus is developing around
these principles about what
ESG is, and the Global Reporting
Initiative’s guidelines further
formalise the process. Yet actual ESG
implementation and measurement
are far from uniform. Its subjective
nature leads to management issues,
with widespread outsourcing of stockfiltering
and ongoing monitoring.
Many asset owners are signing up
to existing ESG standards. US$59trn
in global assets are now covered by
the United Nation’s six Principles for
Responsible Investment (UNPRI).
There is some consultation beginning
around compliance, with the
potential to remove signatories that
have shown no practice change or
improvement outcomes with regard
to the UNPRI.
This presentation discusses business succession planning and buy/sell agreements. It covers:
1) Types of business succession agreements and their purpose of determining what happens to a business interest when an owner dies or leaves.
2) Differences between mandatory and put/call agreements and their tax treatment.
3) Trigger events such as death, illness or disability that activate the agreements.
4) Issues around valuing a business and ensuring insurance is adequate.
3) Questions are taken at the end regarding implementation and other details.
Protecting and Transferring Wealth With Captive Insuranceindmew
Potentially reduce business tax, personal tax, and inheritance tax using a captive insurance company. Family owned businesses can also increase asset protection and increase money passed to future generations.
The document discusses efficient tax strategies and structures for investment portfolios. It notes that different investment structures have very different tax implications and influence how portfolios are managed. The presentation focuses on how structures affect factors like governance, fees, ability to exit investments, and more. It also provides a summary of different common investment structures like individual managed accounts, separately managed accounts, ETFs, investment trusts, and managed funds in terms of their tax efficiency and features. The discussion panel then introduces speakers from Russell Investments, First Samuel, KPMG, and Private Portfolio Managers to discuss these topics further.
New Uses and Benefits of Captive Insurance-Mrotek Tortorich May 20 2015Kyle Mrotek
This document provides an overview of captive insurance companies, including what they are, why businesses form them, the types of policies they can issue, and their tax benefits. A captive insurance company is formed by a business to provide insurance coverage for related entities. It allows businesses to improve risk management, access customized coverage, and potentially minimize taxes. Captives can issue various property and casualty policies, as well as "softer" policies where the insured is the business itself. Forming a captive can provide tax deductions for premiums paid and reducing taxable income through reserves. Captive ownership can also be held by a trust to facilitate wealth transfers with little to no gift tax.
Captive Insurance Group - A Risk Management Strategycaptiveinsurance
We provide our clients with unique risk management tools & support designed to help them control their costs with private insurance companies.
With extensive experience, our team of dedicated professionals can help deliver the stability and predictability you need in order to lower costs and drive profits.
With creative concepts and an intuitive grasp on our clients’ goals, we design policies that help you strengthen your position in the present and protect you as you head into the future.
This document discusses managing business risks through understanding risks, managing risk, and obtaining appropriate insurance coverage. It identifies common business risks like hackers, theft, and fraud. It also discusses reducing risk through prevention programs, avoiding risks when possible, self-insuring or buying various types of insurance like general liability, property, health, disability, workers' compensation, and life insurance. The document emphasizes the importance of understanding different types of insurance policies and coverage for risks facing various businesses, including home-based businesses.
1) Risk is defined as uncertainty of loss and the possibility of unwanted events occurring. Insurance helps manage risk by redistributing the costs of losses across many policyholders.
2) Underwriting is the process used by insurers to evaluate risks, classify them, decide what risks to insure, and determine premiums. It allows insurers to pool risks according to the law of large numbers.
3) The costs of insurance are offset by its benefits, which include peace of mind for individuals and reduced credit risk for businesses. At a societal level, insurance contributes to economic stability.
Understanding Risk Management Basics for Business OwnersFinancial Poise
This expert panel embarks upon a discussion of key elements of risk management such as the 5-Steps of the Risk Management Process, Understanding 3 Main Types of Loss Exposures, Measuring Loss Exposures, and 5 Types of Risk Control. We’ll discuss Insurance Distribution, Wholesale v. Retail Insurers and Policies to give a business owner an understanding of what to look for in a carrier, a broker and how underwriters operate. We’ll also review some general best practices for Safety and Loss Control applicable to many businesses. In light of current circumstances, we’ll discuss safety measures for employees working from home.
Part of the webinar series: INSURANCE FOR THE BUSINESS OWNER - 101
See more at https://www.financialpoise.com/webinars/
The document discusses the changing risks facing charities and nonprofit organizations. Key risks mentioned include reduced funding due to Brexit, increased governance requirements, cyber threats, and reputational damage. It provides advice on managing risks through developing a risk register, business continuity planning, crisis management, and ensuring good governance, strategic planning, and risk culture within the organization. Insurance can help mitigate financial losses but not all risks, so prevention through strong management is important to build resilience against challenges.
Risk managers use Risk Management Information Systems (RMIS) to record, track, and analyze losses to help determine appropriate insurance deductibles and policy limits. RMIS must be tailored to individual organizations' unique risk exposures. International risk managers face additional challenges like foreign currency fluctuations, political risks, and varying insurance regulations between countries. They try to develop global insurance programs using local admitted insurers supplemented by international policies. Financial risks also require management through hedging strategies like options, futures, forwards, and swaps.
RESTRUCTURING, INSOLVENCY & TROUBLED COMPANIES 2022: Bad Debtor Owes Me Money!Financial Poise
Sometimes it begins when a client, tenant, or customer starts to slow-pay, with the result that your accounts receivable start to accrue gradually. Other times the issue presents itself more suddenly. Either way, you find your company owed a great deal of money that looks like it may not be collected because your client/tenant/customer has filed bankruptcy, has commenced an assignment for the benefit of creditors, has been put into receivership, or is otherwise just plain insolvent. What do you do? What should you not do? The topics discussed in this webinar include the pros and cons of putting a counterparty into involuntary bankruptcy; when and how you may be able to pursue third parties (like guarantors, directors, or officers) for the amount owed; risks related to preference attack; pros and cons of sitting on a “creditors’ committee” in a Chapter 11; how to negotiate for “critical vendor” protection in Chapter 11; and practical guidance for continuing to provide goods or services to an insolvent counterparty.
Part of the webinar series: RESTRUCTURING, INSOLVENCY & TROUBLED COMPANIES 2022
See more at https://www.financialpoise.com/webinars/
This document discusses key insurance coverages for entrepreneurial companies including property, product liability, cyber risk, intellectual property infringement, and international risks. It also outlines common risks that keep CFOs awake including financial, human capital, intellectual capital, operational risks, regulatory risks, and credit risks. The document then discusses building scalable insurance programs and the importance of management liability insurance including directors and officers liability, employment practices liability, fiduciary liability, and ERISA bonds. It concludes with an overview of privacy and cyber risks and coverages.
This document provides an overview of the insurance domain, including key statistics about the size of the global insurance market. It defines insurance as a risk transfer contract between two parties, and outlines several principles that govern insurance, such as utmost good faith, insurable interest, and indemnity. The document also describes the business model of insurance companies and common types of insurance. It concludes by listing several key performance indicators used in the insurance industry to measure profitability, sales growth, claims processing efficiency, and customer satisfaction.
This session discusses risk management and insurance. It defines risk and different types of risks. It covers the basic characteristics of insurance including risk pooling and the law of large numbers. It discusses the requirements for an insurable risk and different methods of handling risks including avoiding, controlling, accepting, and transferring risk through insurance. Key principles of insurance contracts are explained including indemnity, insurable interest, subrogation, and utmost good faith. The objectives of risk management before and after a loss are also summarized.
Sometimes It Begins When A Client, Tenant, Or Customer Starts To Slow-Pay, With The Result That Your Accounts Receivable Start To Accrue Gradually. Other Times The Issue Presents Itself More Suddenly. Either Way, You Find Your Company Owed A Great Deal Of Money That Looks Like It May Not Be Collected Because Your Client/Tenant/Customer Has Filed Bankruptcy, Has Commenced An Assignment For The Benefit Of Creditors, Has Been Put Into Receivership, Or Is Otherwise Just Plain Insolvent. What Do You Do? What Should You Not Do? The Topics Discussed In This Webinar Include The Pros And Cons Of Putting A Counterparty Into Involuntary Bankruptcy; When And How You May Be Able To Pursue Third Parties (Like Guarantors, Directors, Or Officers) For The Amount Owed; Risks Related To Preference Attack; Pros And Cons Of Sitting On A “Creditors’ Committee” In A Chapter 11; How To Negotiate For “Critical Vendor” Protection In Chapter 11; And Practical Guidance For Continuing To Provide Goods Or Services To An Insolvent Counterparty.
Part of the webinar series: Restructuring, Insolvency & Troubled Companies 2021
See more at https://www.financialpoise.com/webinars/
A major storm damages a business, inhibiting operations for weeks. The document provides guidance on navigating the insurance claims process, including important "dos and don'ts". It advises policyholders to take reasonable steps to protect property, notify their insurer, and establish a claim management team. However, policyholders should not rely solely on insurers' adjusters and estimates, but rather hire their own experts to fully evaluate the loss and prepare the claim. The claims process involves both cooperation and adversity between the policyholder and insurer, so policyholders must be knowledgeable and proactive to achieve a fair settlement.
Part of the webinar series: Cross-Training for Business Lawyers 2021
Credit insurance, also called trade credit insurance or business credit insurance, is insurance for businesses for non-payment of commercial debt. It is generally offered by private insurance companies to businesses seeking insurance for non-payment due to a customer’s bankruptcy or other types of financial difficulties. It can be a critical information and hedging tool for businesses with income streams heavily dependent upon accounts receivable from customers with questionable credit worthiness or that may be facing an industry-based or regional-based financial downturn. The premium is generally based upon a financial review of the customers of the business. This webinar covers these and related topics.
Understanding Risk Management Basics for Business Owners (Series: Insurance f...Financial Poise
This expert panel embarks upon a discussion of key elements of risk management such as the 5-Steps of the Risk Management Process, Understanding 3 Main Types of Loss Exposures, Measuring Loss Exposures, and 5 Types of Risk Control. We’ll discuss Insurance Distribution, Wholesale v. Retail Insurers and Policies to give a business owner an understanding of what to look for in a carrier, a broker and how underwriters operate. We’ll also review some general best practices for Safety and Loss Control applicable to many businesses. In light of current circumstances, we’ll discuss safety measures for employees working from home.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/understanding-risk-management-basics-for-business-owners-2021/
Asset owners are rethinking their investment strategies and governance models in response to regulatory changes and a low-yield environment. They are moving away from traditional asset class silos towards more holistic risk management across asset classes. This includes increasing allocations to more complex, illiquid assets. Both larger and smaller asset owners are evaluating whether to outsource or run investment strategies internally based on factors like control, expertise, and costs. Bringing some strategies in-house can help reduce costs but smaller funds often have fewer options due to challenges retaining specialized talent.
An emerging consensus
A consensus is developing around
these principles about what
ESG is, and the Global Reporting
Initiative’s guidelines further
formalise the process. Yet actual ESG
implementation and measurement
are far from uniform. Its subjective
nature leads to management issues,
with widespread outsourcing of stockfiltering
and ongoing monitoring.
Many asset owners are signing up
to existing ESG standards. US$59trn
in global assets are now covered by
the United Nation’s six Principles for
Responsible Investment (UNPRI).
There is some consultation beginning
around compliance, with the
potential to remove signatories that
have shown no practice change or
improvement outcomes with regard
to the UNPRI.
This presentation discusses business succession planning and buy/sell agreements. It covers:
1) Types of business succession agreements and their purpose of determining what happens to a business interest when an owner dies or leaves.
2) Differences between mandatory and put/call agreements and their tax treatment.
3) Trigger events such as death, illness or disability that activate the agreements.
4) Issues around valuing a business and ensuring insurance is adequate.
3) Questions are taken at the end regarding implementation and other details.
Protecting and Transferring Wealth With Captive Insuranceindmew
Potentially reduce business tax, personal tax, and inheritance tax using a captive insurance company. Family owned businesses can also increase asset protection and increase money passed to future generations.
The document discusses efficient tax strategies and structures for investment portfolios. It notes that different investment structures have very different tax implications and influence how portfolios are managed. The presentation focuses on how structures affect factors like governance, fees, ability to exit investments, and more. It also provides a summary of different common investment structures like individual managed accounts, separately managed accounts, ETFs, investment trusts, and managed funds in terms of their tax efficiency and features. The discussion panel then introduces speakers from Russell Investments, First Samuel, KPMG, and Private Portfolio Managers to discuss these topics further.
New Uses and Benefits of Captive Insurance-Mrotek Tortorich May 20 2015Kyle Mrotek
This document provides an overview of captive insurance companies, including what they are, why businesses form them, the types of policies they can issue, and their tax benefits. A captive insurance company is formed by a business to provide insurance coverage for related entities. It allows businesses to improve risk management, access customized coverage, and potentially minimize taxes. Captives can issue various property and casualty policies, as well as "softer" policies where the insured is the business itself. Forming a captive can provide tax deductions for premiums paid and reducing taxable income through reserves. Captive ownership can also be held by a trust to facilitate wealth transfers with little to no gift tax.
Captive Insurance Group - A Risk Management Strategycaptiveinsurance
We provide our clients with unique risk management tools & support designed to help them control their costs with private insurance companies.
With extensive experience, our team of dedicated professionals can help deliver the stability and predictability you need in order to lower costs and drive profits.
With creative concepts and an intuitive grasp on our clients’ goals, we design policies that help you strengthen your position in the present and protect you as you head into the future.
This document discusses managing business risks through understanding risks, managing risk, and obtaining appropriate insurance coverage. It identifies common business risks like hackers, theft, and fraud. It also discusses reducing risk through prevention programs, avoiding risks when possible, self-insuring or buying various types of insurance like general liability, property, health, disability, workers' compensation, and life insurance. The document emphasizes the importance of understanding different types of insurance policies and coverage for risks facing various businesses, including home-based businesses.
1) Risk is defined as uncertainty of loss and the possibility of unwanted events occurring. Insurance helps manage risk by redistributing the costs of losses across many policyholders.
2) Underwriting is the process used by insurers to evaluate risks, classify them, decide what risks to insure, and determine premiums. It allows insurers to pool risks according to the law of large numbers.
3) The costs of insurance are offset by its benefits, which include peace of mind for individuals and reduced credit risk for businesses. At a societal level, insurance contributes to economic stability.
Understanding Risk Management Basics for Business OwnersFinancial Poise
This expert panel embarks upon a discussion of key elements of risk management such as the 5-Steps of the Risk Management Process, Understanding 3 Main Types of Loss Exposures, Measuring Loss Exposures, and 5 Types of Risk Control. We’ll discuss Insurance Distribution, Wholesale v. Retail Insurers and Policies to give a business owner an understanding of what to look for in a carrier, a broker and how underwriters operate. We’ll also review some general best practices for Safety and Loss Control applicable to many businesses. In light of current circumstances, we’ll discuss safety measures for employees working from home.
Part of the webinar series: INSURANCE FOR THE BUSINESS OWNER - 101
See more at https://www.financialpoise.com/webinars/
The document discusses the changing risks facing charities and nonprofit organizations. Key risks mentioned include reduced funding due to Brexit, increased governance requirements, cyber threats, and reputational damage. It provides advice on managing risks through developing a risk register, business continuity planning, crisis management, and ensuring good governance, strategic planning, and risk culture within the organization. Insurance can help mitigate financial losses but not all risks, so prevention through strong management is important to build resilience against challenges.
Risk managers use Risk Management Information Systems (RMIS) to record, track, and analyze losses to help determine appropriate insurance deductibles and policy limits. RMIS must be tailored to individual organizations' unique risk exposures. International risk managers face additional challenges like foreign currency fluctuations, political risks, and varying insurance regulations between countries. They try to develop global insurance programs using local admitted insurers supplemented by international policies. Financial risks also require management through hedging strategies like options, futures, forwards, and swaps.
RESTRUCTURING, INSOLVENCY & TROUBLED COMPANIES 2022: Bad Debtor Owes Me Money!Financial Poise
Sometimes it begins when a client, tenant, or customer starts to slow-pay, with the result that your accounts receivable start to accrue gradually. Other times the issue presents itself more suddenly. Either way, you find your company owed a great deal of money that looks like it may not be collected because your client/tenant/customer has filed bankruptcy, has commenced an assignment for the benefit of creditors, has been put into receivership, or is otherwise just plain insolvent. What do you do? What should you not do? The topics discussed in this webinar include the pros and cons of putting a counterparty into involuntary bankruptcy; when and how you may be able to pursue third parties (like guarantors, directors, or officers) for the amount owed; risks related to preference attack; pros and cons of sitting on a “creditors’ committee” in a Chapter 11; how to negotiate for “critical vendor” protection in Chapter 11; and practical guidance for continuing to provide goods or services to an insolvent counterparty.
Part of the webinar series: RESTRUCTURING, INSOLVENCY & TROUBLED COMPANIES 2022
See more at https://www.financialpoise.com/webinars/
This document discusses key insurance coverages for entrepreneurial companies including property, product liability, cyber risk, intellectual property infringement, and international risks. It also outlines common risks that keep CFOs awake including financial, human capital, intellectual capital, operational risks, regulatory risks, and credit risks. The document then discusses building scalable insurance programs and the importance of management liability insurance including directors and officers liability, employment practices liability, fiduciary liability, and ERISA bonds. It concludes with an overview of privacy and cyber risks and coverages.
This document provides an overview of the insurance domain, including key statistics about the size of the global insurance market. It defines insurance as a risk transfer contract between two parties, and outlines several principles that govern insurance, such as utmost good faith, insurable interest, and indemnity. The document also describes the business model of insurance companies and common types of insurance. It concludes by listing several key performance indicators used in the insurance industry to measure profitability, sales growth, claims processing efficiency, and customer satisfaction.
This session discusses risk management and insurance. It defines risk and different types of risks. It covers the basic characteristics of insurance including risk pooling and the law of large numbers. It discusses the requirements for an insurable risk and different methods of handling risks including avoiding, controlling, accepting, and transferring risk through insurance. Key principles of insurance contracts are explained including indemnity, insurable interest, subrogation, and utmost good faith. The objectives of risk management before and after a loss are also summarized.
Sometimes It Begins When A Client, Tenant, Or Customer Starts To Slow-Pay, With The Result That Your Accounts Receivable Start To Accrue Gradually. Other Times The Issue Presents Itself More Suddenly. Either Way, You Find Your Company Owed A Great Deal Of Money That Looks Like It May Not Be Collected Because Your Client/Tenant/Customer Has Filed Bankruptcy, Has Commenced An Assignment For The Benefit Of Creditors, Has Been Put Into Receivership, Or Is Otherwise Just Plain Insolvent. What Do You Do? What Should You Not Do? The Topics Discussed In This Webinar Include The Pros And Cons Of Putting A Counterparty Into Involuntary Bankruptcy; When And How You May Be Able To Pursue Third Parties (Like Guarantors, Directors, Or Officers) For The Amount Owed; Risks Related To Preference Attack; Pros And Cons Of Sitting On A “Creditors’ Committee” In A Chapter 11; How To Negotiate For “Critical Vendor” Protection In Chapter 11; And Practical Guidance For Continuing To Provide Goods Or Services To An Insolvent Counterparty.
Part of the webinar series: Restructuring, Insolvency & Troubled Companies 2021
See more at https://www.financialpoise.com/webinars/
A major storm damages a business, inhibiting operations for weeks. The document provides guidance on navigating the insurance claims process, including important "dos and don'ts". It advises policyholders to take reasonable steps to protect property, notify their insurer, and establish a claim management team. However, policyholders should not rely solely on insurers' adjusters and estimates, but rather hire their own experts to fully evaluate the loss and prepare the claim. The claims process involves both cooperation and adversity between the policyholder and insurer, so policyholders must be knowledgeable and proactive to achieve a fair settlement.
Part of the webinar series: Cross-Training for Business Lawyers 2021
Credit insurance, also called trade credit insurance or business credit insurance, is insurance for businesses for non-payment of commercial debt. It is generally offered by private insurance companies to businesses seeking insurance for non-payment due to a customer’s bankruptcy or other types of financial difficulties. It can be a critical information and hedging tool for businesses with income streams heavily dependent upon accounts receivable from customers with questionable credit worthiness or that may be facing an industry-based or regional-based financial downturn. The premium is generally based upon a financial review of the customers of the business. This webinar covers these and related topics.
Insurance act presentation - southampton May 2016Michael Howard
The document summarizes key changes brought about by the Insurance Act 2015 in the UK. It discusses reforms to the duty of fair presentation, remedies for unfair presentation, removal of the duty of utmost good faith, changes to treatment of warranties, provisions around contracting out, and implications of the late payments provisions in the Enterprise Act 2016. The goal of the reforms was to ensure better information exchange, reduce disputes between insurers and insured, and increase confidence in the insurance sector.
Credit insurance provides coverage for commercial and political credit risks to help mitigate risks and enhance credit for companies. It covers losses from buyer insolvency or protracted default. The policy sets approved credit limits for buyers based on underwriting. Claims are settled after a waiting period if the debt remains unpaid. Credit insurance advantages include supporting global expansion, checking buyer creditworthiness, and protecting balance sheets from unexpected losses.
This document provides an overview and introduction to credit insurance. It discusses how credit insurance can help companies mitigate risks associated with accounts receivable by insuring against losses from customer non-payment. The summary explains that credit insurance allows companies to increase sales by extending more credit to existing customers or pursuing new customers, helps improve financing terms with lenders, and reduces bad debt reserves. It also notes that the primary benefit of credit insurance for most companies is enabling increased sales and profits without additional risk of loss from customer non-payment.
This document provides guidance on managing insurance claims and losses. It outlines important organizational steps like designating responsible parties and understanding existing coverage. When responding to claims or losses, the document advises putting together a team, promptly reporting incidents, cooperating fully with insurers, and challenging any denial of coverage. It also distinguishes between liability and property insurance, and notes specific considerations and policies for each type of claim. The overall message is to be well-organized, know your policies inside and out, and seek advice from experts to help avoid denials and maximize coverage.
This document discusses the importance of ethics in the finance sector. It notes that individuals trust financial firms with their hard-earned savings and want to feel confident that professionals will act with integrity. It then provides an overview of regulators and players in the Indian financial sector before detailing some common ethical violations like insider trading and prioritizing shareholder over stakeholder interests. Finally, it suggests some ways to curb unethical behavior such as improving standards, strengthening laws, and enhancing the role of auditors.
Similar to What brings most agribusiness undone (20)
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
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https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
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Business Model Canvas
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2. Slide deck context
• The following slide deck was developed for & shared with a group of 100
Agribusiness leaders at “Healthy Australian Agribusiness 2020+” in
Adelaide on August 23rd 2018
• It provides insights and suggestions of a general nature only, regarding the key
risks that many agribusinesses should be mindful of & consider protecting
themselves against
• The newspaper clippings used in the slides are taken from the public domain
and employed for demonstration purposes only – no specific claims are made
regarding these events or stories
• For tailored advice specific to your business and circumstances, please contact
Peter Alderson at Shield Insurance Brokers Adelaide for a discussion;
▫ peter@shieldinsure.com.au ph 08 8172 8900
3. What can agribusinesses do with risk?
• A) Retain it yourself (carry it on the balance sheet)
• B) Transfer it to someone else (insurance) - generally to an
insurance company via a policy
Very few people love business risk, and not many business owners love insurance.
The goal of a good insurance partner?
Ensure your insurance optimally balances investment vs risk
4. What are the barriers to businesses taking out
“optimum” cover?
• Ignorance
• Apathy
• Poor advice
• No advice
• & the 2 big ones?
5. 1 The perception of insurance cost
• Some “first time” insurable events our clients have recently endured
▫ Truck fire and damage to road infrastructure: $1,000,000
▫ Employee harassment: $250,000
▫ Product harms: $250,000
▫ Homestead fire: $400,000
▫ Executive theft: $BIG
2 An “It’s never happened to us” mentality
• The net cost of a comprehensive insurance programme is, on average, only 0.5% to
2% of a business’ total revenue
• Retaining risk on a balance sheet vs the cost of insurance on property valued at
$1,000,000 over 20 years, is approximately $1,600,000 V $44,000
7. 1 Insufficient Values Insured
(Property, Plant, Equipment, Stock)
• Don’t hedge your exposure
• Values insured need to represent genuine replacement value
Issue: Underinsurance
8. 2 Consequential financial loss
• Property loss = Financial loss
• 12-month indemnity periods often don’t cover 24+ month
lingering financial losses (regulatory matters, development
processes, relocation, building & construction etc)
Issue: No cover in place, underinsured,
indemnity period to short
9. 3 Crime, Theft of funds or property
• First party, third party, electronic theft – there are multiple
ways businesses can be defrauded, and all need coverage
Issue: No cover in place, policy conditions not met,
sum insured too low
10. 4 Cyber
• Cyber events need to be covered by a cyber policy
• Cyber cover should include coverage for damage to your
systems, third party liabilities, statutory liabilities, extortion,
terrorism and financial loss (revenue)
Issue: No cover or limited cover in place,
reliance on IT provider integrity
11. 5 Management Liability
• With greater obligations now placed on business owners, protection
is needed for management regarding employment issues, statutory
liabilities (eg. chain of responsibility, OHS, Pollution), Crime,
Directors & Officers obligations, and Company obligations
Issue: No cover or limited cover in place
12. 6 Transit of goods, Marine (Inland)
• Be self-reliant, don’t rely on your carrier for insurance
• Consignment notes generally always restrict the carrier’s
liability, regardless of what you might be told
Issue: Assumption that the carrier is
responsible, incorrect cover in place, policy
conditions not met, loss of market
13. 7 Transit of goods (marine) – Import / export
• Always check the terms of trade (Incoterms)
• The buyer needs to control their own insurance
• Seek the broadest cover available to avoid disappointment
Issue: Terms of trade don’t match insurance,
inherent vice, loss of market, rejection
14. 8 General liability policy misconceptions
• Review all contracts for contractual liabilities
• Public & product liability policies do not cover product recall,
guarantee or rectification costs – these require specific cover
Issue: Product recall, product guarantee,
rectification, contractual liabilities exclusion
15. 9 Trade credit insurance
• If you sell your goods on credit and you are not paid, there are
policies available to insure your bad debts
Issue: Lack of awareness of exposures and policy
availability
16. 10 Governance
• Good governance reduces your exposure to insured and
uninsured losses, reduces claims frequency, reduces insurance
cost and makes claims process faster and easier
Issue: Lack of internal financial controls,
compliance, records management
17. Check list
• 1 Insufficient Values Insured Property, Plant, Equipment, Stock
• 2 Consequential financial loss
• 3 Crime, Theft of funds or property
• 4 Cyber
• 5 Management Liability
• 6 Transit of goods, Marine (Inland)
• 7 Transit of goods (marine) – Import / export
• 8 General liability policies misconceptions
• 9 Trade credit insurance
• 10 Governance
18. Thank you
• Peter Alderson is the Senior Partner at Shield Insurance
Brokers Adelaide.
• Peter has over 30 years experience in financial services and
insurance. Peter’s clients include individuals, couples and
families, and businesses in agriculture, transport & logistics,
community organisations, professional services, IT,
manufacturing, hospitality & more.
• Shield is a member of Steadfast, Australia’s largest
independent insurance broker group.
Contact Peter for a no-obligation discussion;
Shield Insurance Brokers Adelaide
433 Goodwood Road WESTBOURNE PARK SA 5041
p 08 81728900 e peter@shieldinsure.com.au
Editor's Notes
Hands up who likes risk in their business? No? Then who likes insurance? Still no? That’s not a great synergy between a problem and a solution. The work we do at Shield is all about improving this synergy and delivering an insurance solution which provides the optimum outcomes for clients.
Unfortunately we frequently see claims being influenced by insurance arrangements that are far from optimum. “Optimisation” needs to happen long before an insurance claim.
The two most common barriers to optimum coverage are “perception of cost” and a mindset of “it has never happened to us before”. Firstly, cost. We believe insurance done right is good value and, when considered as a percentage of revenue, it is not a big cost in passing all insurable risks on to an insurer for the piece of mind you enjoy to focus on you business. It is a far more economical decision to insure versus retain the risk. As an example, consider a one million dollar property risk retained. Compare the risk capital / principal and interest over 20 years versus the cost of insurance – a significant difference. Then, the attitude of “it has never happened to us” In most cases, when clients are confronted with a large loss, it is the first time it’s happened to them. It’s vital that the appropriate insurance is in place prior to an event that might never have happened to you before.
To obtain a satisfactory result you need to insure for the full replacement value of the property, that’s what the fine print in your policy will say and you will be bound by that. If you do not insure for this premiums you save by doing this and hedging your loss “only half will be destroyed” will pale into insignificance when a full or partial loss occurs quite frankly you may be happier not to have insured and saved all your money on premiums than be disappointed with a sub standard settlement which could have easily and quite cheaply in context been avoided. A result which you will have a long term detrimental effect.
Where there is property loss generally there will be consequential financial loss, where insurance is available for this take it as they are totally related to one another. Traditionally an indemnity period is 12 months however we have seen lately that financial influence following a loss on a business lingers far longer than this, 18, 24 months. This is mainly due to our ever increasing regulatory environment, planning and environmental laws, development objections, building and construction process, relocation etc.
We are experiencing the case of the disappearing thief. Since the change of the century we have seen the demise of the traditional thief, in lieu of the more sophisticated corporate, cyber, con man criminal. CCV TV, DNA technology has done its thing, out with the old and in with the new. Make sure that you are familiar with and meet policy conditions to ensure that you fulfil your obligations.
10 years ago these policies did not exist they have evolved from the wave of hacks, virus events, malicious persons that comes with every innovation. The only insurance response to a cyber event is via a cyber policy. This policy now is as important as any other core insurance policy.
These policies evolved around 15 years ago mainly due to regulatory change and with that greater obligations placed on business owners. We now see the frequency of claims under these liability policies exceed those of traditional liability policies such as public and products liability yet we still see the take up of these to be less than latter and SME business still being un protected. Whilst a business may have best practice procedures ultimately things can still go wrong, if best practice procedures are used third parties can still allege wrong doing and you need to defend your self, Management liability as with most liability policies cover these costs and in many cases these can exceed any amounts payable in settlements. Ultimately you may have no case to answer but to get to this point you will incur legal and investigative costs.
If you move stock, produce, goods in fact anything from one place to another it needs to be covered by a marine or in common terms a transit policy. Too often people make the assumption that the carrier will be responsible for loss or damage to the goods carried this assumption is incorrect. Contract carriers carry goods under the terms of their consignment note which generally says they will not be responsible for the loss or damage to the goods carried, regardless of what they say and mostly to gain your business. Even if they do cover your loss to some degree, you are reliant on their policy and them to make a claim often this creates delay and confuses the process when you just want to be reimbursed to cover your goods. Own insurance is the path of lease resistance for speed of settlement and the certainty of protection.
Imports and exports of goods require special attention, who's responsibility is it to insure the goods, buyer or seller, from where to where and when to when. To ensure marine cover is correct in these respects cover must match the international commercial terms (incoterms) predetermined rules that govern responsibility of parties that are buyers and sellers of goods. Too often insurance arranged does not match the terms. Best for the purchaser to control insurance at the place of destination rather than transact with a foreign insurer located in another country. There are various level of cover available always seek the broadest cover available. If exports of fresh produce are the commodity covered policies do not cover rejection by the purchaser due to the alleged quality or state of the goods or inherent vice (natural deterioration) e.g. fruit, veg, meat will eventually spoil due to the nature of the goods. Cover for rejection and inherent vice is very difficult to obtain.
Public and products liability polices do not cover recall, guarantee or rectification they cover property damage and bodily injury arising from the nature of a product. These polices will also not cover liabilities assumed by one party under a contract which create greater responsibility for one party than they would have enjoyed in absence of the contract. Or in other words one party being made more responsible than they ordinarily would be. Policies will not cover this extra assumed liability.
If you sell your products or goods on credit you have exposures to bad debts, you can insure these potential bad debts many business owners do not know about the availability of this cover.
Nothing beats prevention however there is always a possibility something will slip through the cracks or you just can not prevent a loss, this is where insurance comes in. Good governance has many benefits over poor.