AMA’s Insurance and Risk Management Workshop

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Description

An effective insurance and risk management program gives your company the security to pursue its goals without fear of unexpected setbacks.Are your insurance costs too high? Master all the insurance and risk management facts, strategies and how-to techniques you need to gain full, confident control of your program! In just two days, you’ll get a complete insurance and risk management education—everything you must know about coverage, cost, liability limits, retention and broker services/compensation! Be sure to bring your company policy—and your questions—for discussion!

Also Available as:
  • Onsite

How You Will Benefit

  • Develop a practical risk management plan that aligns with corporate s…

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An effective insurance and risk management program gives your company the security to pursue its goals without fear of unexpected setbacks.Are your insurance costs too high? Master all the insurance and risk management facts, strategies and how-to techniques you need to gain full, confident control of your program! In just two days, you’ll get a complete insurance and risk management education—everything you must know about coverage, cost, liability limits, retention and broker services/compensation! Be sure to bring your company policy—and your questions—for discussion!

Also Available as:
  • Onsite

How You Will Benefit

  • Develop a practical risk management plan that aligns with corporate strategy
  • Assess the positives and negatives of your current insurance program
  • Determine if state-of-the-art alternative risk-financing tools are right for your company
  • Learn how to select, compensate and manage brokers/agents—and choose an insurance company or TPA
  • Discover how America’s largest companies reduce cost and improve coverage without competitive bidding
  • Benchmark your own coverage specifications against the actual policy wordings of Fortune 500 companies
  • Spend your company’s premium dollars most effectively

What You Will Cover

  • Why risk management and insurance are crucial
  • Financial overview of the insurance industry
  • Principles of risk management
  • The role of the broker/agent
  • Selecting an insurance company/TPA
  • Property insurance
  • Casualty insurance coverages
  • Executive and professional coverages
  • Specialty coverages
  • Alternative risk financing

Extended Seminar Outline

Print this page Extended Seminar Outline Seminar #1290 Learning Objectives
  • Explain Risk and How It Impacts an Organization
  • Design Risk Management Strategy That Allows you to Identify, Assess, and Address the Risks Facing Your Company
  • Evaluate the Insurance Coverage You Currently Buy
  • Broaden You Insurance Coverage with Wording and Extensions Used By Cutting Edge Insurance Buyers at Global Firms
  • Determine That Your Limits, Deductibles, and Program Structures Are Appropriate and Cost Effective for Your Firm
  • Work with Your Broker/Agent to Ensure That It Provides the Services That Are Right for You
  • Select and Know How to Compensate a Broke/Agent
  • Execute an Effective Renewal Strategy
  • Select an Insurance Company or Third Party Administrator (TPA)
  • Determine Whether Alternative Risk Financing Programs and Products, such as Captive Insurance Companies, May Be Useful to Your Company
  • Be in Control of Your Broker/Agent Relationship

An Overview of the Insurance Industry
  • Identify Why Insurance and Risk Management Matter for Your Company
  • Discuss the Key Financial Indicators of the Insurance Industry and How Trends in Those Indicators Contribute to Insurance Industry Cycles and Thus Impact An Insurance Buyer’s Strategy
  • Incorporate Combined Ratio and Policy Holder Surplus in Your Evaluation of Insurance Decisions

Principles of Risk Management
  • Factor Your Company’s Total Cost of Risk
  • Use the Components of a Risk Management Strategy and the Risk Management Process
  • Understand the Transfer of Risk
  • Leverage the Methodology of Risk Assessment By Considering the Broad Spectrum of Risks Facing Your Company
  • Create and Use a Risk Map
  • Consider the Various Methods of Treating Risks


Selecting the Right Professional for Your Company
  • Select the Appropriate Broker/Agent for Your Organization
  • Evaluate Your Broker’s/Agent’s Performance and How to Compensate Accordingly
  • Leverage the Roles of the Broker/Agent and the Client During Insurance Renewal, and the Importance of Timelines
  • Competitively Bid Your Insurance Program to Multiple Insurers
  • Select an Appropriate Third Party Administrator (TPA) to Handle Claims

Property Insurance
  • Navigate the Basic Construction of an Insurance Policy
  • Use the Coverage Extensions and Manuscript Wording That Are Used By Major Global Risk Managers
  • Evaluate the Complexities of Business Interruption and Extra Expense Insurance

Casualty Insurance Coverages
  • Apply the Coverage Extensions That Should Be Applied to All Casualty Coverages
  • Navigate the Specifics of Workers Compensation Coverage, Automobile Coverage, General and Product Liability Coverage, and Umbrella Coverage
  • Benchmark Insurance Limits vs. Peer Groups
  • Understand Occurrence vs. Claims-Made Policy Triggers
  • Use the Coverage Extensions and Manuscript Wording That Are Used By Major Global Risk Managers

Executive and Professional Insurance Coverages
  • Determine the Value of the Following Forms of Liability Insurance for Your Business:
–Directors and Officers Liability Insurance
–Employment Practices Liability Insurance
–Commercial Crime Insurance
–Professional Liability Insurance
–Fiduciary Liability Insurance
  • Leverage the Coverage Extensions and Manuscript Wording That Are Used By Major Global Risk Managers, Which May Be Available for Your Business


Specialty Insurance Coverages
  • Determine the Necessity of the Following Specialty Insurance for Your Business:
–Marine Insurance
–Aviation Insurance
–International Insurance
–Environmental Insurance

Alternative Risk Financing
  • Differentiate Between Guaranteed Cost Insurance and Cash Flow Plans
  • Derive the Critical Issues and Components of a Cash Flow Plan
  • Identify the Basic Reasons Why Companies Establish Captive Insurance Companies
  • Know Basic Types of Captive Insurance Companies

Who Should Attend

Non-insurance executives and professionals responsible for their firm’s insurance and risk management programs, including CEOs, CFOs, VPs of finance, controllers and treasurers. Legal, administrative or HR executives…new members of insurance or risk management teams… corporate planners and attorneys…outside agents, brokers and consultants.
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