IRMI Podcast

Fields of Challenge: The Grit, Grind, and Glee of Farming on Colorado's Front Lines

Learn what innovative technologies the Kalcevics employ for healthy soil, water scarcity, and successful crop yields. In this 17-minute podcast episode, Danell Kalcevic, human resources and office manager for Kalcevic Farms, reflects on the work and the pride of her fifth-generation family farm. Join IRMI Chief Content Officer Joel Appelbaum as he and Mrs. Kalcevic discuss grain farming on the land of her husband's great-grandfather, who immigrated from Croatia in 1898. Discover the resilience, tradition, and forward-thinking strategies that keep this historic farm thriving.

Innovating Risk Management: Exploring Lloyd's Captive Insurance Syndicate

In this episode, Joel Appelbaum, chief content officer at IRMI and Captive.com, speaks with Mike Maglaras, of Michael Maglaras & Company, about the launch of the first modern-era captive insurance syndicate at Lloyd's of London. This innovative model offers multinational companies a new way to manage complex risks across borders by eliminating fronting capacity barriers, enabling companies to issue Lloyd's paper in over 80 countries. Joel and Mike dive into how this syndicate model is transforming the captive industry, offering streamlined access to reinsurance and retrocessional markets at Lloyd's, reducing administrative burdens, and providing new avenues for insuring third-party and supply chain risks.

Mike also explores the strategic significance of this Lloyd's captive syndicate in the evolving global captive insurance landscape. For large-scale enterprises with complex, cross-border risks, the Lloyd's model could be a game changer, particularly as the United Kingdom positions itself as a competitive captive domicile post-Brexit.

Unlocking Employee Benefits with Captive Insurance

Jarid Beck of Risk Management Advisors joins Joel Appelbaum of IRMI to explore how businesses can unlock employee benefits through captive insurance. They discuss the increasing popularity of self-funded employee benefits in captives, driven by rising healthcare premiums and the desire for greater control over healthcare costs. 

The conversation highlights key benefits of captive insurance, including cost transparency, flexibility, and long-term financial sustainability. Mr. Beck explains how businesses can mitigate risks using stop-loss coverage, wellness programs, and effective claims strategies. The episode also touches on how advancements in data and artificial intelligence are shaping the future of self-funding, providing streamlined solutions for both employers and employees.

Practice, Practice, Practice Recalls

In this 11-minute Snap Talk episode, Marty Detmer, product recall and contamination/crisis management broker for Aon, expounds on some key factors that can increase the risk of product recalls and how to mitigate those risks. Mr. Detmer gave a fascinating presentation at the recent IRMI Emmett J Vaughan Agribusiness Conference in Des Moines, Iowa, on food recalls and why they're happening.  Food recalls can be a nightmare. Discover what Aon has uncovered about steps you can take to help mitigate your food recall exposure.

 

Tune in now for valuable insights that every risk and insurance professional should know.

Reduction of Risk through Emerging Technologies

Emerging technologies have the potential to change the safety and risk landscape of the construction industry. In this 13-minute episode of IRMI Podcast, Matt Nordaker of Marsh shares how the efficiencies of exponential technologies will enable safety and risk directors to focus on higher-level strategic initiatives as these technologies materialize.

Skyrocketing Price of Beef: Cause and Effect on Agriculture

In this 11-minute Snap Talk episode, Bernt Nelson, economist at the American Farm Bureau Federation, breaks down the key factors behind the soaring beef prices—and why those increases aren't benefiting farmers and ranchers. Discover what the American Farm Bureau Federation has uncovered about this critical issue and its broader impact on the agriculture industry. Tune in now for valuable insights that every risk and insurance professional should know.

Navigating Captive Insurance: Custody, Collateral, and Regulatory Challenges

In this podcast episode, Joel Appelbaum interviews Marty Ellis, leader of Comerica Bank's Global and Captive Insurance Group, discussing key aspects of custody and collateral in the captive insurance industry. Marty outlines the crucial role of custody accounts in holding financial assets for claims, and compares letters of credit with reinsurance trusts as collateral options, noting the former's investment flexibility and the latter's cost-effectiveness despite regulatory limitations. The conversation also addresses the impact of the recent Vesttoo scandal involving alleged fraudulent letters of credit, highlighting the need for greater vigilance and the adoption of secure systems like the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to mitigate fraud risks in the industry.

The Challenges and Opportunities in the Agricultural Industry

In this 15-minute podcast episode, Nate Chance, senior territory manager for small commercial at Liberty Mutual Insurance, reflects on the impact of the unique challenges and opportunities present in the agricultural industry. Join IRMI Chief Content Officer Joel Appelbaum as he and Mr. Chance discuss the shift in societal perceptions of liability and responsibility, particularly regarding the increase in large verdicts. They refer to this shift as "legal system abuse" to better capture the current litigation environment, which is seeing a rise in external funding and aggressive attorney advertising and practices. Learn what Liberty Mutual, AgriCon Gold sponsor, considers to be opportunities presented during headwinds we face.

Decoding Insurer Collateral Obligations for Large Deductibles and Captive Reinsurance

IRMI's Joel Appelbaum interviews Peter Johnson, chief actuary at Spring Consulting Group, about insurer collateral obligations for large deductible and captive reinsurance programs. They discuss how collateral protects insurers financially while enabling organizations to self-insure and reduce market premiums. Peter emphasizes the importance of actuarial expertise, detailing methodologies to calculate collateral requirements and the need for accurate loss development patterns and reserve analyses. The conversation includes case studies showing how to reduce collateral obligations by challenging industry assumptions and using company-specific data. It also covers managing loss development over time, especially for long-tail lines such as workers compensation.

Crazy Confidence

Don't let lack of confidence hold you back. In this 14-minute episode, Abi Potter Clough, CEO of AbiLeads, outlines steps you can take to build self-confidence and take ownership of your personal brand.