Succession Planning & Managing Risk

Having a succession plan in place including a contingency for the unexpected is critical to the survival of your business. Businesses need to plan in advance for future ownership and leadership transition to protect and maintain value in their practices. In addition they should plan for the unexpected, in case a key leader or owner is no longer able to work in the practice. On 15 October, join us for this webinar to hear more about succession planning and managing risk from our expert panel featuring lawyer Susannah Maclaren from Colin Biggers & Paisley, Daniel Orrell from Steadfast Life and Karen Meiklejohn from Planned Cover.

With a high percentage of business owners considering retirement in the next 10 years, the need for succession planning in SME business is becoming critical. Ensuring business continuity today, when the “plan” doesn’t go to plan is also essential. In this webinar our speakers will cover –

• Succession planning and risk management relative to insurance – including future planning and building in a contingency
• Main considerations for businesses in managing Key Person risk and Partnership risk
• Buy Sell Agreements –
  • Why do we need one? Risks of not having one.
  • What’s included and what does it cover?
  • Business valuation
  • Who are the parties to the agreement?
  • What are the agreement triggers?
  • Funding Solutions
  • Maintenance

OUR SPEAKERS

Daniel Orrell, Chief Distribution Officer, Steadfast Life – Daniel has specialised in the life insurance industry for more than 26 years, having worked in a variety of roles within Australia’s largest insurers and banks. As a partner in the business, Daniel’s focus over the last 12 years has been towards addressing the major shortfalls of life insurance in Australia and, in particular, the needs of SME businesses.

Susannah Maclaren, Partner, Colin Biggers & Paisley Lawyers – A partner in the insurance team working primarily in the areas of professional indemnity insurance and financial services disputes and investigations, Susannah has over 22 years’ experience as an insurance and disputes solicitor in Australia and the UK. Susannah is experienced in complex litigation, including class actions as well as regulatory investigations. Susannah has also represented domestic and foreign insurers in relation to coverage disputes and has acted on behalf of corporations, professional advisers and directors.

Karen Meiklejohn, State Manager QLD/NT – With over 30 years in the Insurance industry, Karen has worked on all classes of insurance, specialising in professional indemnity insurance. She has worked extensively with architects, engineers, building designers, real estate agents and accountants. Karen also works with members to provide education and risk management solutions.

WHERE & WHEN

Online

CPD

Completion of this 1 hour webinar and submission of the self-checked assessment task will deliver 1 formal CPD point.

Learning outcomes – Succession planning and risk management relative to insurance; considerations for managing key person and partnership risks; and a break down of Buy Sell agreements.

Units of Competency and Performance Criteria: Practice Management & Professional Conduct – PC 2

APBSA & ABWA Core Area – Practice Management

The webinar will include time for Q&A with our speakers with a CPD assessment task. Certificates will be provided following participation in the full webinar and online submission of answers to CPD questions.

CONTACT