WMU News

Expert discusses small-business insurance

Feb. 25, 2002

KALAMAZOO -- Most entrepreneurs are underinsured and don't understand what coverage they need, according to a local expert who'll give tips on shopping smarter for insurance at a Western Michigan University presentation Thursday, March 7.

Melody Nedrud will present "The Ins and Outs of Small Business Insurance" from 6:30 to 8:30 p.m. in the Federal Room of the Kalamazoo County Chamber of Commerce building, 346 W. Michigan Ave. The program, part of a monthly series of workshops offered by WMU's Women's Business Development Center, is free and open to the public.

At the workshop, Nedrud will explain how much and what kind of insurance small business owners need. "Over the years, I've found that a lot of entrepreneurs don't fully understand why they need insurance," she says. "A lot of small businesses are underinsured, and owners are putting their current capital and even their future earnings at risk. Insurance is not just something to pick up when and if you can afford it."

Nedrud will discuss what insurance is required by law and what is optional but advisable. She also will tell how to find a good agent and which questions to ask before purchasing a policy.

Before retiring, Nedrud was president and owner of the Kehoe-Nedrud Agency, which was purchased in 2000 by Old Kent Bank, now Fifth Third Bank. She began working with Jack Kehoe in 1972, after earning her bachelor's degree from Indiana University, and became sole owner of the agency in 1991. A licensed insurance agent and insurance counselor, Nedrud has also earned the Charter Property Casualty Underwriter designation. During her 28 years in the industry, she worked both as a commissioned agent and a consultant.

WMU's Haworth College of Business established the Women's Business Development Center in 1999 to offer support to female professionals and entrepreneurs by providing training, problem-solving consultation, current business information and networking opportunities.

Reservations are required. For more information or to reserve a seat, contact WBDC Director Pat Guenther at (269) 387-2714 or <patricia.guenther@wmich.edu>.

Media contact: Jessica English, 269 387-8400, jessica.english@wmich.edu

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