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Event Description

On-Demand CPD

During this on-demand event, delivered by Justin Kelly, a seasoned Technical Consultant at Zurich who will focus on the critical role of business insurance in addressing the challenges that can arise following the death of a company director, particularly in the context of share buybacks. Attendees of this event will gain valuable insights into how a well-structured life insurance policy can help alleviate potential financial and operational issues that may emerge during such a difficult time. The event delves into the complexities surrounding the death of a director, exploring the various arrangements available to mitigate risks and ensure the smooth continuity of the business.
This on-demand webinar is designed to provide practical solutions and expert guidance and is an essential opportunity for business owners, directors, and financial professionals to better understand the strategies and tools available to safeguard their companies in the face of unforeseen circumstances. Additionally, alongside Justin will be Mark Kelly a Senior Underwriter at Zurich who will give an overview of different types of business insurance, issues to consider and how cover is underwritten.
 
Event Highlights
 
Issues surrounding the death of a director
The unexpected loss of a director can create significant challenges for a company, including disruptions to decision-making, financial strain, and complications with share ownership and management continuity.
 
Different arrangements which are available
There are various strategies and policies that businesses can implement to address these challenges, providing options tailored to the specific needs and structure of the company.
 
Co-Director Insurance
This type of insurance enables surviving directors to fund the purchase of the deceased director’s shares, ensuring a smooth transition of ownership and maintaining stability within the business.
 
Corporate Co-Director Insurance
This arrangement involves the company itself taking out insurance policies to cover the cost of purchasing a deceased director’s shares, safeguarding the business’s financial position.
 
Taxation issues for the directors and the personal representatives
Tax implications that arise for the remaining directors will also be addressed along with the personal representatives of the deceased, helping participants of this event understand how to navigate these complex scenarios effectively.
 

How and Why we underwrite business insurance cover
Underwriting assesses risk to set appropriate coverage and pricing. Insurers review a business’s finances, structure, and industry to tailor policies while ensuring fair premiums.

Types of evidence requested, and key items looked at
Insurers request financial documents, business history, and operational risks. They also review directors, ownership, and existing policies to evaluate risk and coverage.

Solutions to ensure underwriting goes smoothly
To make underwriting efficient, provide accurate financial statements, relevant documents, and maintain open communication with the underwriter to resolve issues quickly.

Speaker

Justin Kelly

Justin qualified from Maynooth University in 1988 with a Bachelor of Arts degree and a higher diploma in education, with the intention of being a teacher. However, with the shortage of teaching positions in Ireland, he started his career in Life insurance in 1996 with Scottish Provident and, after joining Eagle Star/Zurich Life in 1998, joined the Technical Services team of which he has been a part since 1999.
His technical experience relates mainly in the areas of business insurance, inheritance tax planning and the savings/investments. He has had numerous publications issued in relation to his position with Zurich Life’s technical services department on the topics of Business Insurance and Capital Acquisitions Tax. He is a member of the LIA and holds the FLIA affiliation.

Speaker

Mark Kelly

Mark has over 25 years’ experience in the Life Insurance industry, the majority of which has been spent in a Senior Underwriting role. Areas of interest include business insurance placement and IT systems for insurance. Mark holds a Bachelor of Comm Degree from National University Ireland, Galway (NUIG), Diploma in Medical Underwriting (DMU) and also additional qualifications in Insurance IT from the Insurance Institute.
He is a committee member of the Health Insurance Society of Ireland (HIS) and also Irish representative on the organising committee of LUCID, the leading Life Underwriting, Claims and Insurance Doctors Conference which takes place every 2 years.

ACCESSING ON-DEMAND WEBSITE

HOW CAN I ACCESS THIS EVENT ON-DEMAND?
If you register for this event and find you cannot attend on the day, the event will be made available On-Demand within seven working days.
You can view the event On-Demand via LIA Elevate. To obtain CPD, you will be required to complete a short series of multiple-choice questions at the end of the recording. 
1. Click here  to log into your LIA account.
2. Hover over ‘LIA Elevate’ in the top navigation bar and select ‘My Events and On Demand Learning’.
3. Click “Go to your Learning Centre”.
4. The On-Demand module will appear for you to complete within your Learning Centre. This will only be available 7 working days after the event.

CPD

This is an On-Demand CPD Event. It is a recorded session accessible at your convenience, offering the flexibility to view it at a time that suits you. CPD hours are awarded upon the successful completion of a brief multiple-choice quiz at the end of the recording. To qualify for CPD, it is required to achieve a minimum score of 19 out of 25 on the quiz. If you are unsuccessful in the quiz on your first attempt, there is an opportunity to retake it as many times as necessary.

This event serves as an ideal resource for professionals seeking to revisit critical highlights or deepen their knowledge of key topics, all while fulfilling their CPD requirements.

Cost

LIA Members: €0.00 
LIA Students: €25.00 
Non-LIA Members: €35.00 

Accessing the Event

Upon completing your registration for this event, you will receive a confirmation email. This email will contain a Zoom access link to join the event at the scheduled time.
Alternatively, you can access the event through LIA Elevate by following the steps below:
  1. Visit our website lia.ie.
  2. Log in to the members area (top right).
  3. Hover over ‘LIA Elevate’ in the top navigation bar and select ‘My Events and On Demand Learning’.
  4. Click “Go to your Learning Centre”.
  5. Details of the event, including an “Attend” button will appear here. Launch the event directly in Zoom by clicking ‘Attend’.

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