IRMI Podcast

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.

Vermont's Risk-Focused Approach to Captive Insurance Regulation

In this episode of the IRMI Podcast, Joel Appelbaum sits down with Sandy Bigglestone, deputy commissioner of captive insurance, and Dan Petterson, director of financial examinations, from the Vermont Department of Financial Regulation. The conversation dives into Vermont's innovative, risk-focused approach to captive insurance regulation. Sandy and Dan share how their team conducts personalized, in-depth reviews for each domiciled company, engaging directly with executives to understand their strategies and ensure their success. This hands-on approach not only boosts Vermont's regulatory efficiency but also offers crucial insights for business plan changes, making it a model for effective regulation in the industry.

Navigating Captive Insurance for Public Entities and Public Risk Pools

In this IRMI Podcast episode, Joel Appelbaum welcomes Danny Linton, a senior consulting actuary with Pinnacle Actuarial Resources. The discussion delves into the rise of captive insurance for public entities and public entity risk pools, with Mr. Linton predicting significant growth in captive formations over the coming years as these entities seek to diversify their risk management strategies. Among other aspects, the episode examines how captive insurance can offer greater flexibility and cost savings in addressing specific risks unique to public entities.  

Large Agricultural and Food Processing Claim Handling

This podcast episode is a 9-minute Snap Talk presented by Trent Gillette, US agriculture director, and Greg Brown, executive loss accountant, both of McLarens. Mr. Gillette and Mr. Brown preview their presentation on the intricacies of handling large agricultural and food processing claims, upcoming at the 2024 IRMI Emmett J Vaughan Agribusiness Conference in Des Moines (IRMI AgriCon Central).

Be sure to check out the other agribusiness resources that IRMI has to offer!

The Financial Flow of Water Mitigation

Water damage on a construction project results in remediation costs, delays in schedule, and sometimes litigation. In this 11-minute episode of IRMI Podcast, Yaron Dycian of WINT Water Intelligence shares insights into the use of technology to mitigate water damage and water waste in commercial building projects. With some insurers requiring larger deductibles, these savings may directly impact the contractor's bottom line.

ATV and UTV Safety

Nationwide Staff Operations Director Sarah Onnen joins IRMI Chief Content Officer Joel Appelbaum in this 12-minute podcast episode, which highlights Nationwide's important new safety program for all-terrain vehicles (ATVs) and utility terrain vehicles (UTVs). Listen to learn the difference between these two vehicles and why IRMI Emmett J Vaughan Agribusiness Conference Grand Conference Sponsor Nationwide continuously advocates for the safety of its policyholders.

Be sure to check out the other agribusiness resources that IRMI has to offer!