INSURANCE

There are two types of insurance coverage you will need to consider: one for the operation of your company and one for your employee benefits. The process of determining appropriate company operations' risk coverage requires the identification of possible exposures. Industry surveys are helpful in determining an appropriate employee benefits plan. Some insurance coverages are readily apparent, such as property damage, general liability, health insurance, and workers' compensation. Others are not and require the expertise of an insurance agent, ideally one who has working knowledge of your industry.

Depending on coverage amounts and deductibles, a 10person company would expect to pay approximately $4$7k annually, exclusive of D&O insurance. A 100-person company would expect to pay $50-$75k annually, exclusive of D&O and clinical trial insurances. Read the Risk Management and Insurance chapter for details.