Small Business Risk Management Course Offered

The Chicago-based UIPI said it decided to offer the program due to the increased growth of small businesses in urban areas, combined with the commercial insurance effects of Sept. 11, 2001.

UIPI is a non-profit insurance industry organization that focuses on urban issues. The institute's supporters include the American Insurance Association, the National Association of Mutual Insurance Companies, and the Reinsurance Association of America.

UIPI said it developed the educational presentation at the request of community development organizations, insurers and Lawrence Mirel, commissioner of the District of Columbia Department of Insurance and Securities Regulation.

"There has never been a more important time for small-business owners to be informed about insurance," Mr. Mirel said. "I credit UIPI with creating a significant program to help small-business owners with a critical but often overlooked segment of their business plan."

UIPI said it plans to introduce the program in several cities, including Washington, D.C.

There have been about 22,000 commercial insurance claims from the terrorist attacks, including property damage, business interruption and workers' compensation, said UIPI.

UIPI noted that its new program does not focus on terrorist attacks and instead provides general details that small-business owners need to manage their overall risk, such as how to make their business a better insurance risk and how to reduce costs.

"We're seeing a lot of small-business growth in many urban areas," noted Sue Johnson, chairman of UIPI and a vice president with GeneralCologne Re. She said that community groups have emphasized that insurance plays a critical role in helping business owners expand their operations.

Other topics being covered at the UIPI national workshop include marketing databases, demographics, multicultural marketing, urban investments, underwriting, insurance scoring, regulation, litigation trends, and model programs.

Frank Fitzgerald, commissioner of the Michigan Office of Financial and Insurance Services, provided the keynote address at lunch today. Illinois Insurance Director Nathaniel S. Shapo will speak during the luncheon session tomorrow. Mr. Shapo is also secretary-treasurer of the National Association of Insurance Commissioners.

For more information about the commercial insurance education program or UIPI's national workshop, contact UIPI President Suzanne Reade at (773) 880-8780, or see www.uipi.org.