RIMScast

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Franck Baron is the Group Deputy Director for Risk Management and Insurance at International SOS, which is a recognized leader in security risk management. He is also the president of IFRIMA, which is the International Federation of Risk and Insurance Management Associations, which is the international umbrella organization for risk management, and he is the Co-Founder of PARIMA. He is its outgoing chair.

 

PARIMA and RIMS announced a strategic alliance at RISKWORLD 2023 to expand access for the RIMS-CRMP throughout the world and establish a global standard of knowledge and professionalism for risk professionals. PARIMA will market, promote, and deliver the RIMS-CRMP Exam Prep Workshop to Pan-Asia’s risk community while RIMS will deliver course materials, case studies, instructors, and manage administrative and certification duties.

 

Key Takeaways:

[:01] About RIMScast.

[:27] All about exciting, upcoming RIMS events! Registration is open for the RIMS Canada Conference 2023, which will be held September 11th‒14th in Ottawa! Visit RIMSCanadaConference.ca for more information.

[:48] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani on 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:05] The RIMS Western Regional Conference will be held October 4th‒6th in Vail, Colorado. Visit RIMSWesternRegional.com for more information and to register.

[1:17] Head to the RIMS.org/Advocacy page to find information about The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th.

[1:31] We are very excited about the RIMS ERM Conference 2023, which will be held November 2nd and 3rd in Denver, Colorado! The theme is Elevate and Evolve. We are accepting submissions for educational sessions through June 30th. Check your inboxes and spam folder to see if that deadline was extended. There is a link in the show notes.

[2:01] About today’s episode with accomplished risk leader, Franck Baron. Franck Baron is the Group Deputy Director for Risk Management and Insurance at International SOS. He is also the president of IFRIMA, and the Co-Founder of PARIMA, and a really, really nice guy! We’re so happy to have him join us! Franck Baron, welcome to RIMScast!

[3:46] Franck is the head of Risk Management and Insurance at International SOS. He is based out of Singapore hut has a thick French accent, as he is from France. Franck joined International SOS in 2011; before that he was in the risk and insurance industry, mostly as a risk manager. He started at Mars, the American chocolate bar company.

[4:25] Franck worked for Mars in Europe where he was in charge of risk and security for Mars at the 1992 Winter and Summer Olympic Games. From there, Franck did Insurance brokerage for Aon and then Marsh, and then to Danone as a deputy risk manager. Franck moved next to a Swiss company, Firmenich, as a chief risk officer for eight years.

[5:31] Franck has had a fulfilling career. Risk management wasn’t much of a reality in Europe when he graduated with a risk management degree, but his career was in risk management. Danone was one of the first companies in France to launch an ERM program. Franck is passionate about risk management.

[6:34] Part of Franck’s job at the Barcelona Olympics was to join the guests to watch competitions. He got to see the NBA Dream Team in the stadium.

[7:50] International SOS was interested in starting a risk management department and they saw that Franck had created a risk management department at Firmenich. Both companies are family-owned. International SOS saw enough commonalities to invite Franck to interview with the owners. [9:02] During the job interviews, Franck pitched to the owners the way he thought the risk management department should be structured and what it should be able to deliver. It was a fruitful conversation. The objective expanded through the job interview and he was hired.

[10:29] Franck has seven people in his department, in Paris, London, Houston, and Singapore. International SOS has 14,000 employees in 94 countries.They handle risk internally and have a captive insurance agent. Franck describes the workings of the department.

[12:01] International SOS is in the business of saving lives. Companies hire them to provide security for employees who may be traveling or involved in large events, including COVID-19 and the War in Ukraine. They are the world leader in this, purely dedicated to corporations and public organizations. They don’t do personal lines.

[13:11] Following risk management principles helps International SOS deliver the solutions they do to their clients. They are in countries where things are not simple. A lot of risks need to be managed there.

[14:04] The main difference Franck sees today from 10 years ago is the permanent crisis mode. Risks are ongoing and are not mitigating, are not reducing, and they are just piling up. Geopolitical uncertainties, the climate change impact, people risks, the growth of diseases, and cyber attacks are all interconnected in a permacrisis.

[15:16] We can’t be managing crises all day long, so how do we manage risk so that what we call a permacrisis situation is managed in a more controllable manner?

[15:35] RIMS plug time! Sponsor an episode of RIMScast! Contact us at [email protected]. For upcoming virtual workshops visit RIMS.org/virtualworkshops to see the calendar. The RIMS-CRMP Exam Prep is July 19th and 20th, from 9:00 am–4:00 pm EDT. August 15th through 17th is the RIMS-CRMP-FED Exam Prep from 9:00 am–4:00 pm EDT.

[16:41] Join us on July 14th at 5:00 p.m. India Standard Time for a jointly presented webinar with Prudent Insurance, Brokers Private Limited, titled Trade Credit Insurance Managing Risk and Promoting Growth. A link is in the show notes. That’s early morning in the U.S. I, Justin, will be hosting it. Register and attend!

[17:22] Deaing with the interconnected crises of the world takes compartmentalization. Franck stresses the human element of how people cope with overwhelming crises. The biggest mistake is to try to ignore things. Be aware. Identify what you are facing. Then strategize about what you can do. For each risk there is a specific approach and plan.

[18:10] It’s about making sure the company remains agile enough to respond to any situation. It’s about collectively having a people and culture of knowing how to respond to a situation. International SOS knows the foundational reflexes that they need to have to manage situations and to raise the right risks to the decisionmakers for prevention.

[18:59] International SOS does periodic phishing campaigns to raise awareness of how very stupid things can be done by people with good intentions. Cybercrime is a constant battle. People need to be diligent and very aware of what’s happening. We are investing in automation but people still need to use their brain.

[20:16] International SOS handles crises for clients every day. Crisis agility is ingrained in the behaviors and people of International SOS. When they hire someone but the person doesn’t stay with them, it’s because the person can’t cope with their crisis management attitude. It’s part of the International SOS DNA.

[21:00] Franck makes sure risk management interacts with all functions of the company, from digital, financial, supply chain, and delivery. Franck reports regularly to the three company owners in terms of risks and the risk financing aspects. He has a seat at the table. There’s no lack of response. Franck needs to stay material to the conversation.

[22:45] Franck does not lead the International SOS ISO-compliance efforts but when they do ERM, he makes sure that what needs to happen to improve their efficiencies and delivery is properly done. He’s not in charge of internal audit or compliance. When they do enterprise risk mapping, he looks at what needs to happen, and how to fix it if it’s not.

[23:32] PARIMA is like RIMS for Asia Pacific. Franck moved to Singapore and looked for the risk management association to join. He didn’t find one. He had been an officer in the French and Swiss associations and European federation. He met with peers in Asia who had tried before. With Franck’s pedigree, they founded PARIMA and it took off.

[24:32] PARIMA is headquartered out of Singapore. They have operation in a few countries. They capture all the risk and insurance managers of Asia-Pac from India to Japan. There are about 3,000 members in about 20 countries across the region. Like RIMS, they are starting to create local chapters. It has been a rewarding adventure.

[25:22] After being Chairman and Founding Chariman of PARIMA for 10 years, Franck is stepping down. A new president has been elected, effective January 1, 2024. Franck takes this opportunity to accept the presidency of IFRIMA the International Federation of Risk Management Associations. RIMS and PARIMA and other societies are members.

[25:51] Franck holds these positions pro bono, to give back to a profession that has been extremely rewarding to him. The breadth of the connections with experts and peers he gets from these organizations gives him the opportunity to learn a lot. It makes him a better risk manager to invest time into these organizations.

[26:42] Franck explains how he divides his time between International SOS, IFRIMA, and his family. He doesn’t sleep a lot. He makes it work because he really loves risk management and doesn’t see it as a job. The most time-demanding part of his IFRIMA work is finding the right people to work with him. Franck publicly thanks his family.

[28:14] About PARIMA and the RIMS-CRMP Exam Prep Workshop. There is a strong appetite in Asia for better education for risk professionals. They tried with an education partner in Asia to develop a curriculum and certification. The content was adapted to Asia but the vendor partner was incapable of sustaining the relationship with PARIMA.

[29:00] PARIMA has six permanent staff after starting from scratch. Franck invested his money into it as the first money it had. They quickly found out that to continue to deliver education and certification to all members, they needed to partner with somebody who was already doing a good job. RIMS was a good fit with a structure and content in place.

[29:50] RIMS generously opened the book for PARIMA and about 80% of the content worked for Asia. About 20% needed to be replaced with business cases for Asia. Now they will work with RIMS and help to develop the Asia content. Franck wants the members in Asia to get to a certification that makes sense in Asia and around the world.

[30:35] It should not be an ego contest between the Europe version and the U.S. version of risk management certification. The 80% relevancy between the U.S. version and the needs of Asia is more than enough to give it a shot and provide to members something that makes sense to them. They are just starting the work for delivering the solution.

[31:14] That solution will be co-delivered by RIMS Commission Chair Ward Ching. Franck is also interested in how far PARIMA can be involved in a review of the content to make it a proper international certification. As President of IFRIMA, Franck has no conflict of interest. He is happy RIMS and PARIMA can work together.

[31:59] Looking at the universe of risks we are in, risk management associations have to collaborate together. There is so much to do. We can’t waste time or money to compete or not to collaborate the way we should. That’s Franck’s motto for IFRIMA. Franck looks forward to working with Ward Ching in this collaboration.

[33:41] Franck shares words to inspire new risk professionals. “You are not making a mistake; that’s a wonderful career; that’s a wonderful profession. And there is still a lot to do; a lot to create; a lot to invent. I think it can’t be a better time to do this! When you look at all the things that can be done with data, for instance!”

[33:59] “Don’t be shy. Leave your office; work with your colleagues; do not hesitate. Do everything you can to train yourself to be material to the conversation with the C-suite and to be the right person to talk on the shop floor with people. Use intellectual curiosity, openness, and enter the meeting room even if you are not invited.”

[34:30] Justin thanks Franck Baron for joining him on RIMScast and he looks forward to seeing Franck at future RIMS events and seeing what develops in the partnership between PARIMA and RIMS-CRMP and RIMS.

[34:48] “Special thanks again to Franck Baron for joining me here today.” See the links to International SOS, PARIMA, and IFRIMA in the show notes, as well as coverage of Franck’s appearance at RISKWORLD 2023 where we announced the strategic alliance between PARIMA and RIMS for the RIMS-CRMP.

[35:11] You can sponsor a RIMScast episode for this, our weekly show or a dedicated episode. Links to sponsored episodes are on our show notes. RIMScast has a global audience of professionals, students, and business leaders, and more. Contact [email protected] for more information.

[35:57] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [email protected] for more information. The RIMS app is available only for RIMS members! You can find it in the App store.

[36:23] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data and more.

[36:40] Read Risk Management Magazine at RMMagazine.com and check out the blog at RiskManagementMonitor.com. Email Justin at [email protected]. Justin thanks you for your continued support and engagement on social media channels! Listen every week! Stay safe!

Mentioned in this Episode:

NEW FOR MEMBERS! RIMS Mobile App

RIMS ERM Conference 2023 — Submit an educational session.

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

Contribute to Risk Management MagazineRIMS Western Regional — Oct 4–6, Vail Colorado

RIMS-Certified Risk Management Professional (RIMS-CRMP)

Risk Management Monitor: “Charting Risk Management’s Future at RISKWORLD 2023”

RIMS Newsroom: “RIMS and PARIMA Alliance Leverages the RIMS-CRMP Certification to Establish a Global Risk Management Standard”Upcoming Virtual Workshops:

“Risk Appetite Management” | July 12–13

See the full calendar of RIMS Virtual Workshops

RIMS-CRMP Exam Prep

July 19–20, 2023

9:00 am–4:00 pm EDT

RIMS-CRMP-FED Exam Prep

August 15–17, 2023

9:00 am–4:00 pm EDT

All RIMS-CRMP Prep Workshops

Webinar: PIBL — RIMS Trade Credit Insurance Managing Risk and Promoting Growth | July 14, 2023, at 5:00 p.m. India Standard Time

Related RIMScast Episodes:

“Live From Riskworld 2023”

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

“Security Risks and Implementing ERM with Kelly Johnstone” (2022)

Sponsored RIMScast Episodes:

Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market | Sponsored by TÜV SÜD (New!)

“Insuring the Future of the Environment” | Sponsored by AXA XL

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Roland Teo!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guest:

Franck Baron

International SOS

IFRIMA

PARIMA

 

Tweetables (For Social Media Use):

 

“I did a risk management degree … in the early ’90s, and in Europe, risk management was still, I would say, a concept more than a reality. … I’ve been able to work for companies where we had this strange idea that it would be good … to do some risk management.” — Franck Baron

 

“Risk management is quite valued in the company because it does help to deliver the solutions we have to deliver to our clients. … We are in countries where things are not simple …  and so a lot of risk needs to be managed there. ” — Franck Baron

 

“When I moved for International SOS to Singapore — it was in ’11 — I was looking for what is the risk management society or association that I should join there and I quickly found out that they had nothing of material nature.” — Franck Baron

 

“Looking at the universe of risks we are in, risk management associations have to collaborate together. There is so much to do. We can’t waste time or money to compete or not to collaborate the way we should.” — Franck Baron

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Leaders of RIMS’s flagship publication, Risk Management Magazine, rejoin RIMScast. Morgan O’Rourke is Publications Director at RIMS and the magazine’s editor in chief and Hilary Tuttle is the managing editor.

 

This interview continues the discussion of the prior episode. This time, the show delves into how RIMS had to activate its active shooter response plan on May 3, the final day of RISKWORLD, due to a nearby shooting in Atlanta, and how Hilary covered RIMS protocols for Risk Management. Also from the pages of Risk Management, Morgan, Hilary, and Justin extend the dialogue about “business interruption values,” and what the editorial staff is seeking in the way of written contributions from risk managers for the magazine.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode concluding the mid-year risk status update with Morgan O’Rourke and Hilary Tuttle of RIMS Risk Management Magazine.

[:36] All about exciting, upcoming RIMS events! Registration is open for the RIMS Canada Conference 2023, which will be held September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[:58] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani on 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:15] Head to the RIMS.org/Advocacy page to find information about The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th.

[1:29] The RIMS Western Regional Conference will be held October 4th‒6th in Vail, Colorado. Visit RIMSWesternRegional.com for more information and to register.

[1:41] We are very excited about the RIMS ERM Conference 2023, which will be held November 2nd and 3rd in Denver, Colorado! The theme is Elevate and Evolve. We are accepting submissions for educational sessions through June 30th. There is a link in this episode’s notes. We want to hear from you!

[2:02] RIMS is partnering with Conrad Clark Nigeria for a RIMS CRMP Exam Prep virtual workshop Saturdays in July: July 1st, 8th, and 15th. Start your RIMS CRMP journey today! The link is in the show notes.

[2:24] Justin is rejoined today by Morgan O’Rourke and Hilary Tuttle, who are the journalistic forces behind the award-winning RIMS publication Risk Management Magazine. Morgan is the RIMS publication director and editor-in-chief of the magazine. Hilary is the managing editor of the magazine and ace reporter.

[2:43] We continue the dialog from the previous episode to discuss not only the topics of the day but one of the key articles in the current issue of Risk Management Magazine. Hilary wrote an article titled “Strengthening Your Active Shooter Response Plan.” It covered how RIMS handled active shooter preparedness during RISKWORLD 2023.

[3:06] They were in Atalanta and just two miles away, there was a tragic mass shooting that was also a major disruption for RISKWORLD. We will explore that article a bit and dive into the perspectives from RIMS leadership that Hilary documented so well.

[3:22] Justin welcomes Morgan and Hilary back to RIMScast.

[3:29] Justin asks about the Business Interruption Values article in the current issue of Risk Management Magazine. Hilary explains the meaning. How much are you making per time? What does a business interruption cost you? The values determine what insurance coverage you want to secure, such as for replacement cost.

[4:40] Mogan recommends reviewing and updating your policies for inflation. Talk to your agent to make sure you have appropriate coverage. Reconfigure your policy as needed. You want the right insurance to cover the value of whatever is interrupted.

[4:57] Hilary notes that the claims environment has gotten more difficult. Dealing with hurricanes, for example, do you understand how much each location of your business could be losing? Are you covered for business losses as well as property damage? A lot has changed in your business over the past few years. Do you have new locations?

[5:41] Business patterns have shifted. What does business as usual look like for you? It’s not what it used to be and you might not be insured for what that means today. Justin reads an excerpt from an article by Jason Cables about operational factors and interdependencies within the company. Justin recommends the article.

[6:49] The goal of Risk Management Magazine for the ideal article is not only something that talks about risk but gets to the management of that risk. What you do about the risk is where the risk manager comes in and it is the key differentiator of the magazine.

[7:51] Hilary’s article in the current issue of Risk Management Magazine covers risk management in an active shooter event. RISKWORLD 2023 in Atlanta was getting ready for the closing keynote by NASCAR driver Danica Patrick when there was a shooting a couple of miles away at a medical facility. RISKWORLD 2023 went on lockdown.

[9:56] Hilary comes from a hard news background, so covering this event reminded her of her former work. As she reported it, the event became more vivid. She interviewed RIMS CEO Gary LaBranche and Chief Events and Sales Officer Stuart Ruff-Lyon, and the article grew to cover broader lessons than just how to manage active shooter response.

[11:37] Hilary says there are people in the risk management industry who refuse to talk about the parts of the plan that aren’t perfect. Focusing on how to do better gives people more confidence in you as a brand and it helps others figure out where things might not go right in their plans, and be prepared for that and build better plans.

[12:04] The goal in doing the article was not to glorify RIMS or create a puff piece on how RIMS was amazing but to show what went right and what was challenging and ways to strengthen your plan for the future.

[12:52] Five years ago, Justin was at a Yext two-day technology event when there was a bomb scare nest door that closed the conference. Justin reached out to Yext about covering the event in an article but the company was unwilling to talk about it. He has not heard from them since.

[13:35] Justin believes it’s a missed opportunity for a company not to acknowledge that something went wrong that was beyond their control and where’s what they did to address it and to keep everybody safe. Morgan adds that a threat event can be a case study of how you can do your risk management job better.

[14:20] Shootings are not going away. It behooves us to examine all of the angles that we can. Morgan thinks Hilary did a great job in bringing out some of the more unique elements that you might not get from other resources.

[14:47] RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. For upcoming virtual workshops visit RIMS.org/virtualworkshops to see the full calendar. On June 29th, “Optimizing Risk Management with Artificial Intelligence” will be led by Pat Saporito. A link to the workshop calendar is in the notes.

[15:44] Join us on July 14th at 5:00 p.m. India Standard Time for a jointly presented webinar with Prudent Insurance, Brokers Private Limited titled Trade Credit Insurance Managing Risk and Promoting Growth. A link is in the show notes. That’s early morning in the U.S. I, Justin, will be hosting it. Register and attend!

[16:26] Hilary says it is easier to reflect on a disaster when it is a near miss. RISKWORLD 2023 had enough of a crisis to clarify what did work or didn’t work in their plan. If there had been an incident on-site, it would have been a very different prospect to cover it. Hilary says the attack surface has gotten a lot bigger with more complicated events.

[17:12] Shootings happen everywhere so you have to be prepared in ways that may not have existed previously. Near misses still count. Sadly, shooting is probably the top physical threat that businesses in the United States face today.

[18:10] To make a pitch for Risk Management Magazine, your article must get to what risk management and risk managers can do about the risk, and not advertise your product, obviously, so the entire audience can look broadly at the risk they face. Risk changes at the level of individual companies. Start with the broadest perspective.

[19:39] Hilary recommends that you not submit first-person “we” articles. Look at your experience as a jumping-off point and think about what are the connection points that are relevant to other people and other businesses. There’s not a one-size-fits-all problem. The way an issue impacts your business gets specific.

[20:16] Cut some of the details. Tell us some of the interesting complications that either made it notable and relevant to other organizations or just the parts that are relevant to organizations like yours. Talk like you’re talking to a colleague in a different industry. What are the challenges we have in common and how are we dealing with them?

[20:43] Instead of using the first person, talk about how this is one approach… How would you frame your experience as guidance or a lesson for someone in a different sector or organization? Think about three or five specific takeaways from your experience that would be relevant to somebody else and start there.

[22:26] Morgan says thank you to the readers of Risk Management Magazine, for reading and sharing. He’s always happy to hear your comments and feedback. He’s grateful that someone would open the pages and read an article. Hilary would love to hear what they could do better or have you contribute a piece. They are here for you, so reach out!

[23:30] Justin thanks Morgan O’Rourke and Hilary Tuttle for joining him on RIMScast. They thank Justin for having them.

[23:45] “Special thanks again to Morgan O’Rourke and Hilary Tuttle of Risk Management Magazine for joining me here today.

[23:51] Read Risk Management Magazine at RMMagazine.com and check out the blog at RiskManagementMonitor.com. Justin offers a link for editorial submission guidelines at RMMagazine.com/contribute. Check it out and contribute to the magazine.

[24:04] Remember that you can sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offerings, including a transitional membership, RIMS.org, Risk Management Magazine, and the Risk Management Monitor blog! Justin thanks you for your continued support and engagement on social media channels! Listen every week!

 

Mentioned in this Episode:

RIMS ERM Conference 2023 — Submit an educational session by June 30.

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

Contribute to Risk Management Magazine

RMM: “Strengthening Your Active Shooter Response Plan,” June 2023

RMM: “Why Accurately Reported Business Interruption Values Matter,” June 2023

RIMS Diversity Equity & Inclusion page

RIMS Western Regional — Oct 4–6, 2023 Vail Colorado

RIMS-CRMP Prep with Conrad Clark Nigeria — July 1, 8, 15, 2023 Upcoming Virtual Workshops:

“Optimizing Risk Management with Artificial Intelligence” | June 29, 2023

“Risk Appetite Management” | July 12–13, 2023

See the full calendar of RIMS Virtual Workshops

Webinar: PIBL — RIMS Trade Credit Insurance Managing Risk and Promoting Growth | July 14, 2023, at 5:00 p.m. India Standard Time

Related RIMScast Episodes:

“Mid-Year 2023 Update with Morgan O’Rourke and Hilary Tuttle”

“Live From Riskworld 2023”

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

Sponsored RIMScast Episodes:

“Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market” | Sponsored by TÜV SÜD (New!)

“Insuring the Future of the Environment” | Sponsored by AXA XL

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Roland Teo!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guests:

Morgan O'Rourke

Hilary Tuttle

Risk Management Magazine

 

Tweetables (For Social Media Use):

 

“Business patterns have shifted. Do you have an accurate picture of … what business as usual looks like for you? Because it’s not what it used to be and you might not be insured for what that means today.” — Hilary Tuttle

 

“The reality of shootings is not going away, so it behooves us to examine all of the angles that we can and I think Hilary did a great job in bringing out some of the more unique elements.” — Morgan O’Rourke

 

“We had enough of a crisis to clarify what worked or didn’t work in our plans but if there had been an incident on-site, I think it probably would have been a very different prospect to cover that. … The attack surface has gotten a lot bigger.” — Hilary Tuttle

 

“I’d say start with three [specific takeaways] and if it becomes more, then cool. Bonus. As they say, three is the magic number.” — Morgan O’Rourke

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Leaders of RIMS’s flagship publication, Risk Management Magazine, rejoin RIMScast. Morgan O’Rourke is Publications Director at RIMS and the magazine’s editor in chief and Hilary Tuttle is the managing editor.

 

In this first of two interviews, they discuss recent wildfire smoke and air quality and other emerging risks, risk terms that help and hinder efforts, and what they are looking for in the way of written contributions from risk managers for the magazine.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode: a discussion of Pride Month and LGBTQIA+ initiatives in the risk profession with a leader from the Rainbow Risk Alliance.

[:36] All about upcoming RIMS webinars, and more!

[1:07] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:24] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani on 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:41] Head to the RIMS.org/Advocacy page to find information about The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th.

[1:55] Be on the lookout for the call for submissions for the RIMS ERM Conference, which will be held November 2nd and 3rd in Denver, Colorado! The first call for submissions was emailed in early June. Remember to check your spam box! There is a link to the web version in this episode’s notes.

[2:13] RIMS is partnering with Conrad Clark Nigeria for a RIMS CRMP Exam Prep virtual workshop Saturdays in July: July 1st, 8th, and 15th. Start your RIMS CRMP journey today! The link is in the show notes.

[2:34] Justin is rejoined today with Morgan O’Rourke and Hilary Tuttle, who are the journalistic forces behind the award-winning RIMS publication Risk Management Magazine. Morgan is the RIMS publication director and editor-in-chief of the magazine. Hilary is the managing editor of the magazine and ace reporter.

[2:54] This is the first part of a two-part interview. It’s a mid-year update with talk about the risk news of the day and what’s trending and insight for listeners who want to contribute to the magazine on how to pitch and find out what Hilary and Morgan are looking for. Justin welcomes Morgan and Hilary back to RIMScast.

[3:20] Justin introduces Morgan O’Rourke and Hilary Tuttle. The last time they were on the RIMScast was at the end of 2022 with a retrospective of the year. Justin invited them back mid-year to see how things are going in 2023 and take the risk temperature.

[4:17] Since her last visit to RIMScast, Hilary has become Managing Editor of the magazine.

[4:38] What are the trends in risk management so far in 2023? Morgan notes shootings in the headlines. He borrows a term, Polycrisis, from the Global Risk Report 2023. It’s not just all the things happening but their interactions. For instance, storm season may be complicated by inflation, supply chain issues, and lingering post-pandemic issues.

[6:01] Hilary sees more complexity to risks. The complexity comes from the different velocities of risks or factors such as the development of technology. Technology changes the velocity of risk. Replacement costs are higher for cars that are more advanced. The supply chain is more complex. Chips come from fewer places.

[7:00] Technology is making standard risks a lot more complicated and expensive. There is a more complicated picture of what it means to return to “business as usual” after the pandemic. There are more factors involved to get back to what was usual.

[7:48] Hilary doesn’t like the term “new normal.” It’s a cliché. Everyone’s “normal” is not the same. The phrase accepts a certain level of death or harm to other people as a cost of doing business. Dismissing it as normal is not respectful of others. And we’re all at a different normal. There is no normal. Morgan notes that it’s an imprecise shorthand.

[9:32] Most risk management reporting today has a technology tie-in. Technology is a core component of how we do business and how we experience risk. It’s not reinventing the wheel every time, but it’s levels of complexity each of the time.

[10:17] Does Hilary enjoy reporting over and over on cyber? She does enjoy reporting on cyber a lot of the time. It gets to be the same old thing at a point. Reading about new ransomware attacks is interesting but sometimes it’s not something she’ll cover soon.

[12:31] For days, wildfire smoke from Canada caused dangerous smoke levels on the U.S. East Coast. It was an orange haze. Many had to stay indoors. The worst-ever air quality day is now in New York. West Coasters have struggled with that for much longer periods. New York was worse and entirely unexpected. It’s hard to manage.

[15:40] Morgan feels for the employees in the next town from the wildfires. How do businesses keep their employees safe from so much smoke and sustain their business? And the fires are nowhere near contained.

[16:50] RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. For upcoming virtual workshops visit RIMS.org/virtualworkshops to see the full calendar. On June 29th, “Optimizing Risk Management with Artificial Intelligence” will be led by Pat Saporito. A link to the workshop calendar is in the notes.

[17:48] The webinar “Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies,” will be on June 22, 2023. Scott Fenstermaker of Riskonnect will lead the session. Scott tells about the webinar featuring Chip Hargrave of Walmart. It’s going to be fantastic! Visit rims.org/webinars to sign up for webinars.

[20:59] What is a successful pitch for Risk Management Magazine? It gets back to asking what risk management can do about a thing. The answer is not that they can buy your product. Make it universal so that the audience can consider the risk they are facing. There’s no solution to fit everyone. Give broad tips on addressing risk.

[22:19] Hilary recommends not using the first-person viewpoint. Look at your experience as a jumping-off point and think about what are the connection points that are relevant to other people. The way a problem impacts your business is specific. What are the problems you have in common with other industries? Tell something of relevance.

[23:25] Think about how you would phrase your experience as guidance or a lesson for someone in a different sector. Think about takeaways. List three, five, or ten specific takeaways from your experience that would be interesting or relevant to somebody else. Start there. It’s easier to write a piece from that. Morgan says to start with three.

[24:58] Morgan says thank you to the readers of Risk Management Magazine, for reading and sharing. He’s always happy to hear your comments and feedback. He’s grateful that someone would open it and read an article. Hilary would love to hear what they could do better or have you contribute a piece. They are here for you, so reach out!

[26:01] Justin thanks Morgan O’Rourke and Hilary Tuttle for joining him on RIMScast. They thank Justin for having them.

[26:16] “Special thanks again to Morgan O’Rourke and Hilary Tuttle of Risk Management Magazine for joining me here today. They’re going to come back next week and we’re going to talk more about a very special article that Hilary wrote, covering RISKWORLD and active shooter preparedness, so I want you all to tune in and check it out!”

[26:35] Read Risk Management Magazine at RMMagazine.com and check out the blog at RiskManagementMonitor.com.

[26:44] Remember that you can sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offerings, including a transitional membership, RIMS.org, Risk Management Magazine, and the Risk Management Monitor blog! Justin thanks you for your continued support and engagement on social media channels!

 

Mentioned in this Episode:

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

RIMS ERM Conference 2023 — Submit an educational session by June 30.

Contribute to Risk Management Magazine

RIMS Diversity Equity & Inclusion page

RIMS Western Regional – Oct 4-6, Vail Colorado

RIMS-CRMP Prep with Conrad Clark Nigeria – July 1, 8, 15

Upcoming Webinars:

“Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies” | Sponsored by Riskonnect | June 22, 2023

Upcoming Virtual Workshops:

“Optimizing Risk Management with Artificial Intelligence” | June 29, 2023

“Risk Appetite Management” | July 12–13

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“2022: The Year in Risk”

“Live From Riskworld 2023”

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

Sponsored RIMScast Episodes:

“Insuring the Future of the Environment” | Sponsored by AXA XL (New!)

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich (NEW!)

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guests:

Morgan O'Rourke

Hilary Tuttle

Risk Management Magazine

 

Tweetables (For Social Media Use):

 

“I’m going to … steal a term from the World Economic Forum’s Global Risks Report, … Polycrisis, which, to me, encapsulates at least my mood. … It’s not just about all these different things … but their interactions, as well.” — Morgan O’Rourke

 

“Technology itself is making a lot of standard risks a lot more complicated and a lot more expensive.” — Hilary Tuttle

 

“[With smoke from the Canada wildfire], the sky [over New York City] turned colors I don’t think we’ve seen, ever. Greens and oranges, and weird haze. It smelled like if you’re sitting out at a campfire.” — Morgan O’Rourke

 

“Think about how you would phrase your experience as guidance or a lesson for someone in a different sector.” — Hilary Tuttle

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

JP Navarro is Director of Client Relations at Hanna Brophy and a Board Member and the Secretary of the Rainbow Risk Alliance. In this episode, Justin and JP discuss JP’s experience at RISKWORLD 2023, takeaways from LGBTQIA+ Community MeetUp, the objectives of the Rainbow Risk Alliance, and how the risk management community is addressing LGBTQIA+ issues. They also consider some effective initiatives and policies organizations can take to bolster inclusivity. They conclude with news of the June 22nd Second Annual PRIDE Social in West Hollywood.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode: a discussion of Pride Month and LGBTQIA+ initiatives in the risk profession with a leader from the Rainbow Risk Alliance.

[:38] All about upcoming RIMS webinars, and more!

[1:09] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:26] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani on 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:42] Head to the RIMS.org/Advocacy page to find information about The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th. [1:56] Be on the lookout for the call for submissions for the RIMS ERM Conference, which will be held November 2nd and 3rd in Denver, Colorado! The first call for submissions was emailed in early June. Remember to check your spam box! There is a link to the web version in this episode’s notes.

[2:14] RIMS is partnering with Conrad Clark Nigeria for a RIMS CRMP Exam Prep virtual workshop Saturdays in July: July 1st, 8th, and 15th. Start your RIMS CRMP journey today! The link is in the show notes.

[2:36] Happy Pride Month, folks! The Rainbow Risk Alliance was formed in 2021 to be a resource, networking hub, and center of support for the LGBTQIA+ community of the risk profession. JP Navarro is the secretary of the group and you might have seen him at RISKWORLD 2023 hosting a community meetup in the DE&I Lounge.

[2:58] We are going to continue those dialogs by having him join us here to discuss Pride Month, how he feels the profession successfully approaches the concept of inclusivity, and how some inclusivity initiatives can be strengthened further.

[3:20] Justin welcomes JP Navarro of the Rainbow Risk Alliance to RIMScast.

[3:45] JP works for Hanna Brophy, a law firm in California, that works primarily in workers’ compensation defense. JP does their marketing and business development, including a lot of networking. Hanna Brophy integrates into the world of risk as an advisor and provider of legal services to risk management throughout the community.

[4:20] While developing many new relationships through networking across California and nationally, JP came to be involved with the Rainbow Risk Alliance by networking with two of its co-founders a few years back. When they started the RRA, they tapped JP to be one of the founding board members.

[5:36] JP says RISKWORLD 2023 was fantastic. He loved being in Atlanta at a fantastic venue. Rainbow Risk Alliance had been invited by RIMS to host a community meetup session for the LGBTQIA+ community. They were placed next to some coffee! They drew quite a diverse crowd of people who networked and learned more about RRA.

[6:35] It was an opportunity for people who were interested in learning how they can be allies; how they can work within their organizations to promote LGBTQIA initiatives. They had excellent conversations with different facets of the industry, including RIMS members and other parties. JP thinks that’s one of the best things about RISKWORLD.

[7:39] Members of the Rainbow Risk Alliance are risk and insurance professionals and risk-adjacent service providers based in California from all walks of the risk world life. One of the co-founders, Tamara Corbin, is a VP with Gallagher Bassett. JP tells how the alliance arose from an informal LGBTQIA+ network to boost community representation.

[10:09] LGBTQIA+ stands for Lesbian, Gay, Bi-sexual, Transgender, Queer, Intersex, Asexual people. The “+” ensures inclusivity. The board has seven members, all from California. They have over two thousand members across the United States.

[11:15] RRA is trying to get its roots grounded in the risk and risk-adjacent community spreading into a national organization with chapters supporting the various initiatives relevant to them and their community at large, with people who identify with LGBTQIA+ community and people who want to be allies and support it in their organizations.

[11:54]  RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. The virtual workshop, “Managing Worker Compensation, Employer's Liability and Employment Practices in the U.S.,” will be June 20–21, Register by June 19! [12:43] A three-part virtual workshop on data risk management will be June 15.

Earn the RIMS Fundamentals of Risk Data Analytics and AI certificate when you complete this workshop series. See go.RIMS.org/dataworkshops. Registration closes June 14th. Additional courses are on September 14th and December 7th.

[13:24] The webinar “Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies,” will be on June 22, 2023. Scott Fenstermaker of Riskonnect will lead the session. Scott tells about the webinar featuring Chip Hargrave of Walmart. It’s going to be fantastic! Visit rims.org/webinars to sign up for webinars.

[16:20] One of the biggest steps JP has seen is curiosity about, as a risk community, what we can do, not just to support our organization … [but] how we’re impacting everything around us, and that curiosity leading to some pivotal discussions around what the risk community can do to support, taking a deep dive into important issues.

[17:25] JP shares an example. What have organizations done as risk professionals about issues that may detrimentally impact the LGBTQIA+ community in times of disaster? What legal, cultural, and economic issues would they face as a result of a disaster? What have we done to address that proactively?

[18:05] These are newer pieces of the risk conversation. JP sees this as a positive outcome from the risk community to address what they can do for the LGBTQIA+ community.

[18:21] Regarding DE&I, there have been a lot of conversations over the last several years about what we can do to bolster DE&I initiatives within our industry. JP brings up curiosity, bringing the conversations to the table in public forums like RISKWORLD 2023. These conversations are popping up at key points throughout the year in the industry.

[19:05] JP says that’s great because it furthers this idea of curiosity. We’re talking about it. As long as we’re talking about it, we’re making movement. JP says the risk community has picked it up and run with it.

[19:22] In JP’s professional work, he sees a lot of interest in understanding how organizations are supporting LGBTQIA+ and DE&I initiatives because it’s important to them. How are we fostering development and recruitment into our industry? They’re asking for metrics, conversations, and updates.

[20:45] LGBTQIA+ is a personal identification that comes with a lot of things behind it. If somebody isn’t comfortable with identifying at home, we can’t expect them to do it at work unless it’s anonymous. Surveys are not trusted to be anonymous. Think about what a safe workplace is. Are we inclusive? Look at the language of initiatives.

[21:49] JP was reminded of this when he reviewed case law recently that included the word “firemen.” Firefighters include both men and women. JP has seen positive responses to the way we’ve adjusted the pronouns within our existing policies. Ensure that the language in your policies is inclusive. That’s a huge step you can take now.

[22:52] Employee Resource Groups (ERGs) can be an excellent source of information and a way to put your finger on the pulse of a company’s culture as it’s perceived by each group. Be open to listening to what those groups have to say. Those can be really difficult conversations; what is intended by a policy may not be what is perceived.

[24:08] JP recommends that organizations consult with DE&I experts. Having a third-party perspective to help shape policies and craft initiatives is an excellent investment in an organization’s culture. That’s what speaks to the community at large.

[24:45] Rainbow Risk Alliance has a Second Annual Pride Social on June 22nd. There will be drinks, hors d’oeuvres, and a drag show. It will be a social networking event in West Hollywood from 5 to 9 p.m. at the Chapel at the Abbey, seen on reality shows like The Real Housewives and The Vanderpump Rules.

[27:56] Justin thanks JP for being on RIMScast and says he looks forward to seeing him at RISKWORLD 2024 in San Diego! JP thanks Justin and wishes everybody happy Pride! JP looks forward to being in San Diego and promises another Community Meetup!

[28:23] Justin says a “special thanks to JP Navarro of the Rainbow Risk Alliance for joining us here today.” Rainbow Risk Alliance links are on the show notes. Also, see the links on the show notes for past coverage of Pride Month and DE&I initiatives.

[28:51] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offerings, including a transitional membership, RIMS.org, Risk Management Magazine, and the Risk Management Monitor blog! Justin thanks you for your continued support and engagement!

 

Mentioned in this Episode:

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

RIMS ERM Conference 2023 — Submit an educational session by June 30.

Contribute to Risk Management Magazine

RIMS Diversity Equity & Inclusion pageUpcoming Webinars:

“Cyber Risk: Sharper Security or Dulled to the Danger?” | Sponsored by Beazley | June 20, 2023

“Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies” | Sponsored by Riskonnect | June 22, 2023

Upcoming Virtual Workshops:

“RIMS Fundamentals of Risk Data, Analytics and AI” | June 15, 2023 | 10:00 am–2:00 pm ET | Registration Closes June 14 | Enroll Now

“Managing Worker Compensation, Employer's Liability and Employment Practices in the US” | June 20–21 | 10:00 am–5:30 pm ET | Registration Closes June 19 | Enroll Now

“Risk Appetite Management” | July 12–13

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“Risk Insight with AAIN Leadership”

“Taking the “Next Steps” with NAAIA Executive Director and COO Omari Jahi Aarons”“RIMS DE&I in June 2022: Pride, Juneteenth, and National Indigenous History Month”

“Launching DEI Initiatives with Tara Lessard-Webb” (2021)

“Pride Month: How Risk Pros Can Protect and Uplift LGBTQ+ Employees” (2021)

Sponsored RIMScast Episodes:

“Insuring the Future of the Environment” | Sponsored by AXA XL (New!)

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich (NEW!)

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guest:

JP Navarro

Hanna Brophy

Rainbow Risk Alliance

Rainbow Risk Alliance Royal PRIDE Social❤️Rainbow Risk Alliance: PRIDE 2023

🧡June 22, 2023

💛5–9 p.m.

💚The Chapel at the Abbey

💙692 N Robertson Blvd, West Hollywood, CA 90069

 

Tweetables (For Social Media Use):

 

“[The RISKWORLD 2023 Rainbow Risk Alliance meetup] was also an opportunity for people who were interested in understanding or learning more about our organization: How can they be allies? How can they work within their organizations to promote LGBTQIA initiatives?” — JP Navarro

 

“One of the biggest steps that I saw … is curiosity. Just the question of, as a risk community, what can we do, not just to support our organization … [but] how you’re impacting everything around you, and that curiosity leading to some pivotal discussions.” — JP Navarro

 

“It’s great because it furthers this idea of curiosity. We’re talking about it. As long as we’re talking about it, we’re making movement. And I think the risk community has really picked that up and run with it.” — JP Navarro

 

“Justin, I thank you so much for having me here! Happy Pride, everybody! I hope you enjoy it. Stay curious. Stay open. And I’m excited to be in San Diego next year and we will absolutely be there for another Community Meetup!” — JP Navarro

 

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Ralph Bless currently serves as Telgian Engineering & Consulting’s Executive Vice President, Innovation and Excellence. He has more than 40 years of experience in fire protection, including a broad range of water-based and special hazard system design, code consulting, and fire protection engineering services. Bless holds multiple state and national certifications, including that of Certified Fire Protection Specialist. He also serves on six National Fire Protection Association (NFPA) Technical Committees. These include chair for Record Storage, NFPA 232, as well as NFPA 1, NFPA 13 SSI (Installation) and the Correlating Committees, NFPA 15, and NFPA 915.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode: Fire Risk in Commercial and Industrial Buildings.

[:34] All about upcoming RIMS webinars, and more!

[1:13] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:30] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:47] Head to the RIMS.org/Advocacy page! The RIMS Legislative Summit is returning to  Washington, D.C. on October 25th and 26th. Visit the link in the show notes.

[2:01] Be on the lookout for the call for submissions for the RIMS ERM Conference, which will be held November 2nd and 3rd in Denver, Colorado! Check your inboxes.

[2:18] RIMS is partnering with Conrad Clark Nigeria for a RIMS CRMP Exam Prep virtual workshop Saturdays in July: July 1st, 8th, and 15th. Start your RIMS CRMP journey today! The link is in the show notes.

[2:41] The new and mixed commodities being brought into commercial and industrial buildings are adding to the evolution and omnipresence of fire risks. Ralph Bless is here to discuss how to identify these materials and machines and the need for full-scale testing. Justin welcomes Ralph Bless to RIMScast.

[3:05] About Ralph’s 40-year career in the industry with new construction, remodels, maintenance, and testing.

[3:46] How Ralph has worked with risk professionals has changed in the past few years, from dealing with the pandemic, how facilities are used, and bringing people back into facilities, including egress and protection issues.

[4:30] Fire risk in facilities has evolved in how we’re using the buildings, and what we’re putting in them. The products have changed, from hand sanitizer, batteries, and plastics, to the packaging around them. From the start of Ralph’s career to today, the fire risk has grown significantly.

[5:22] The changes in fire risk have been across the board, from offices to storage, to manufacturing facilities. The requirements for sprinklers for multi-rack systems have changed, for example, providing challenges for Telgian’s clients and the industry.

[6:17] Batteries, whether for electric vehicles or everyday equipment, have changed the fire risk. A very small battery can create a very large fire. Telgian is exploring how to protect against battery fires. Packaging and the manner of storing products also add fire risks. Plastic pallets have replaced wood pallets.

[7:12] Automated storage and retrieval systems (ASRS) are popular. The robots and lift vehicles are battery-powered with their charging stations, creating new risks as workers are returning to facilities.

[8:11] The codes, standards, data sheets, and guidelines are behind the times. There has not been enough testing to know to protect these new automated facilities. In a lot of cases, water alone is not the solution.

[8:31] Ralph lists data sheets, guidelines, and codes that need to be modernized. One of the significant challenges of code development, for instance, the NFPA code, is the three-year cycle to update. Those are adopted by the building codes one year later. Then the building codes need to be adopted by the states, provinces, and countries.

[9:34] By the time facility builders and managers have the codes and standards, they are at least four years old. Technology changes faster than that.

[10:06] Ralph serves on six NFPA technical committees and some certification bodies. He likes the NFPA process and has been involved in it for some years. Everybody gets a voice. The challenge is in keeping up with what’s going on. NFPA is involved in full-scale fire testing as well as code development, working with state and local jurisdictions.

[11:02]  RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. The virtual workshop Managing Worker Compensation, Employer's Liability and Employment Practices in the U.S. will be June 20–21, Register by June 19! [11:49] A three-part virtual workshop on data risk management will be June 15.

Earn the RIMS Fundamentals of Risk Data Analytics and AI certificate when you complete this workshop series. See go.RIMS.org/dataworkshops. Registration closes June 14th. Additional courses are on September 14th and December 7th.

[12:31] The webinar Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies will be on June 22, 2023. Scott Fenstermaker of Riskonnect will lead the session. Scott tells about the webinar featuring Chip Hargrave of Walmart. It’s going to be fantastic! Visit rims.org/webinars to sign up for this webinar and others.

[15:28] With their larger customers and facilities, Telgian does fire modeling, egress modeling, fire development modeling, smoke modeling, or full-scale fire testing. The codes and standards need to be generic, but specialized facilities need to be full-scale fire-tested. It makes good business sense.

[16:54] Ralph discusses how organizations can manage the risks of new commodities and devices in their facilities. Take a hard look at how the use of the facility has changed and the product has changed. He shares the example of plastic toys in open packaging on store shelves and vertically stacked mattresses that burn vigorously.

[18:22] Facilities managers may think that inspecting their sprinkler and alarm systems regularly for wear and tear is enough, but they need to be analyzed for how well they will protect the facility in a fire. Involve loss control engineer consultants and the risk department in the analysis. Work with the community fire department.

[20:20] About the nearly year-round wildfire risk in the U.S. Some insurance companies refuse to insure certain areas. How do we protect facilities and become good stewards?

[21:22] Risk professionals should collaborate with Operations, R&D, the community, your insurance providers, your loss control engineers, the risk team, and any consultants you may bring in.

[22:19] Fire risk isn’t calculated by the month but by the industry involved. Telgian has seen large facility fires in every month of the last year and a half. You really have to be on your game all the time.

[22:59] Justin says a “special thanks to Ralph Bless for joining RIMScast today.” Listen to the episodes related to fire risks and water damage reduction linked on the show notes.

[23:18] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offerings, including a transitional membership, Risk Management Magazine, and the Risk Management Monitor blog! Justin thanks you for your continued engagement!

 

Mentioned in this Episode:

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala – Sept. 14, 2023

Contribute to Risk Management Magazine

RIMS Diversity Equity & Inclusion page

RIMS ERM Conference Nov 2 & 3 | Submit a session by June 30. 

Upcoming Webinars:

The Top 10 Must-Have Reports for GRC and InfoSec Leaders | Sponsored by Resolver | June 8, 2023

Cyber Risk: Sharper Security or Dulled to the Danger? | Sponsored by Beazley | June 20, 2023

Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies | Sponsored by Riskonnect | June 22, 2023

Upcoming Virtual Workshops:

RIMS Fundamentals of Risk Data, Analytics and AI | June 15, 2023 | 10:00 am–2:00 pm ET | Registration Closes June 14 | Enroll Now

Managing Worker Compensation, Employer's Liability and Employment Practices in the US | June 20–21 | 10:00 am–5:30 pm ET | Registration Closes June 19 | Enroll Now

RIMS CRMP Exam Prep with Conrad Clark Nigeria | July 1, 8, and 15

Risk Appetite Management | July 12–13

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“World Water Day, IoT, and Water Damage Reduction with John Dempsey”

“Public Violence and Workplace Safety with Lauris Freidenfelds”

“Occupational Safety Risks in 2022 with Dave Ferro”

“E-Commerce’s Impact on Fire Safety in Supply Chains with Leonard Ramo”

Sponsored RIMScast Episodes:

“Insuring the Future of the Environment” | Sponsored by AXA XL (New!)

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich (NEW!)

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guest:

Ralph E. Bless, Jr., PE, CFPS, SET

Telgian Engineering & Consulting

 

Tweetables (For Social Media Use):

 

“Fire risk has evolved … specifically as it relates to facilities, in how we’re using the buildings, and what we’re putting in those buildings. … The products have changed, …  hand sanitizer, batteries, different types of plastics, or the packaging around it.” — Ralph E. Bless

 

“I don’t know about you but I don’t really want to be carrying around my cellphone from 10 years ago. It kind of relates [to outdated standards].” — Ralph E. Bless

 

“We’ve seen several very large-loss fires … and if you look at …  why they were catastrophic, what you’ll find is many times the smaller jurisdictions may not have understood or may not have been trained by the facility on how to respond to their … facility.” — Ralph E. Bless

 

“[Fire risk]; it’s not really one month out of the year. It really depends on the industry, in my experience.” — Ralph E. Bless

 

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Eloise Copland joins RIMScast to discuss the effects human bias has on all decision-making, what bias is, and working with bias by understanding how the mind uses it as a shortcut to process information. Understanding our biases about the environment will help us to direct with intention our decision-making around climate-change issues. Listen to this enlightening discussion to help inform your organization’s approach toward prioritizing the environment.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode with Principal Behavioral Scientist, Influence at Work, Eloise Copland, on the psychology of environmental bias risk.

[:37] All about upcoming RIMS webinars, and more!

[1:17] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:34] On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:51] Head to the RIMS.org/Advocacy page! The RIMS Legislative Summit is returning to  Washington, D.C. on October 25th and 26th. Visit the link in the show notes.

[2:04] Be on the lookout for the call for submissions for the RIMS ERM Conference, which will be held November 2nd and 3rd in Denver, Colorado! Check your inboxes.

[2:20] RIMS is partnering with Conrad Clark Nigeria for a RIMS CRMP Exam Prep virtual workshop Saturdays in July: July 1st, 8th, and 15th. Start your RIMS CRMP journey today! The link is in the show notes.

[2:41] The “E” in ESG stands for environmental risk. It is on their minds regularly at RIMS and RIMScast. Justin introduces Eloise Copland, the Principal Behavioral Scientist for Influence at Work. Eloise joins the podcast to talk about our approach to environmental bias and environmental risk.

[3:43] Justin welcomes Eloise Copland, or Elle, to RIMScast. El is five hours ahead of New York time.

[4:25] Elle tells about her background, career, and what excites her every day about behavioral economics and addressing environmental bias.

[6:32] It takes well-funded agencies and corporations working together for change to occur. People run agencies and corporations and their biases influence decisions.

[7:10] There isn’t one simple answer to why executives prioritize short-term environmental challenges over the bigger picture. We like to think that with the right information, and with the right resources, people make rational decisions. Research shows that people’s decisions are influenced by mental shortcuts called biases.

[8:43] The four types of biases:

• Present bias — we value our present selves more than our future selves.

• Uncertainty aversion — we avoid unknown risks.

• Optimism Bias — we are overly optimistic about the future.

• Loss Aversion — we find losses to be more negative than equivalent gains are positive.

[15:49] Execs believe it’s significantly more costly to be sustainable because there’s a lot of investment and you don’t get a lot of payback. Loss aversion overpowers the potential gains an organization might get.

[16:19] RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. The virtual workshop Managing Worker Compensation, Employer's Liability and Employment Practices in the U.S. will be June 20–21, Register by June 19! The three-part virtual workshop on data risk management will be June 15. See the link.

[17:48] The webinar "Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies" will be on June 22, 2023. Scott Fenstermaker of RIskonnect will lead the session. Scott tells about the webinar featuring Chip Hargrave of Walmart.

[20:54] Elle describes ways to work with biases. Knowing what influences our decisions can help us to reduce the power biases hold over us. Elle suggests three things to add to our arsenal: changing people’s focus, making it tangible, and making it personal.

[22:42] Change people’s focus by encouraging executives to look at long-term goals. Find ways to reward longer-term achievements and make the environmental threat more immediate. Use hypothetical scenarios.

[25:23] Make the outcomes more tangible by providing people with a roadmap with the steps of what they can do to achieve a larger goal or reduce the uncertainty by telling people what other people are doing. Have them make implementation intentions, such as “If this happens, I will do that.” Research shows that this works.

[26:53] Make the outcome personal by showing people the emotional and oral impacts of climate change on their nations, communities, and families. They will be much more likely to act beyond the minimum requirements.

[29:51] Elle discusses when executives stubbornly pursue short-term priorities instead of big-picture priorities. Elle suggests empathetically engaging executives to see the big picture. Make sure that when we think about systems, we’re thinking in the long term. Biases are not handicaps but are the ways our brains process information.

[34:03] With the understanding of how humans think, we can integrate this understanding into our systems and what we do, to make sure that we don’t hit this situation where someone is too short-sighted or stubborn.

[34:55] About the COP climate change summits, good and bad. Elle describes the “planning fallacy.” Attending the summit and creating a commitment is not taking action. Tie your commitments to measurable and visible impacts.

[41:01] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offerings, including a transitional membership!

 

Mentioned in this Episode:

RIMS Canada 2023 — Sept. 11–14 in Ottawa!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

RIMS.org/Advocacy/

RIMS 2023 Legislative Summit — Oct. 25–26 in Washington, D.C.

RIMS ERM Conference — Nov. 2–3 in Denver, Colorado.

Contribute to Risk Management Magazine

RIMS Diversity Equity & Inclusion page

Upcoming Webinars:

The Top 10 Must-Have Reports for GRC and InfoSec Leaders | Sponsored by Resolver | June 8, 2023

Cyber Risk: Sharper Security or Dulled to the Danger? | Sponsored by Beazley | June 20, 2023

Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies | Sponsored by Riskonnect | June 22, 2023

Upcoming Virtual Workshops:

RIMS Fundamentals of Risk Data, Analytics and AI | June 15, 2023 | 10:00 am–2:00 pm ET | Registration Closes June 14 | Enroll Now

Managing Worker Compensation, Employer's Liability and Employment Practices in the US | June 20–21 | 10:00 am–5:30 pm ET | Registration Closes June 19 | Enroll Now

RIMS CRMP Exam Prep with Conrad Clark Nigeria | July 1, 8, and 15

Risk Appetite Management | July 12-13

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“Earth Day 2023 and ESG with Lisanne Sison of the RIMS SERMC”

“World Water Day, IoT, and Water Damage Reduction with John Dempsey”

“World Water Day 2022 with Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of the Netherlands”

“Earth Observations, Acronyms, and Risk with Dr. Shanna McClain of NASA” (2021)

“ERM, ESG, and More Acronyms with Jana Utter”

Sponsored RIMScast Episodes:

“Insuring the Future of the Environment” | Sponsored by AXA XL (New!)

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich (NEW!)

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guest:

 

Guest: Eloise Copland

Principal Behavioral Scientist, Influence at Work

 

Tweetables (For Social Media Use):

 

“For me, behavioral science is most useful in the context of environmental impact. And I began to sort of focus on understanding people’s perceptions about the environment and their motivations and barriers.” — Eloise Copland

 

“This idea of losses — they kind of loom much larger in our brains than gains do. So in the context of executives and business and risk and the environment, people are pretty hesitant to invest in climate change solutions … that have unknown or unproven ROI.” — Eloise Copland

 

“The better we understand what is making and driving the decision-making when … we’re in the boardroom; the better we can ensure our systems and our communications fit with these beliefs. … Don’t communicate … in ways that aren’t going to resonate.” — Eloise Copland

 

“With the proper understanding of how humans think, we can integrate this understanding into our systems; into what we do, to make sure that we don’t hit this situation where someone is too short-sighted; too stubborn.” — Eloise Copland

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Joel Wood joins RIMScast to discuss the shared goals of RIMS and CIAB in 2023 in the way of cyber, NFIP, and other major risk management issues. Though many of these issues are non-partisan, he provides a pragmatic view of how much progress might be made with such a divided Congress. Joel shares his hopes for the House and the Senate to work together on important data security legislation. Joel expresses his appreciation for RIMS, as a pure voice for insureds, and how CIAB and RIMS come together for many objectives and goals.

 

We also hear about his career and some of the members of Congress and DC players who may prove to be valuable allies for RIMS and CIAB.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode with Council of Insurance Agents and Brokers (CIAB) President Joel Wood.

[:37] All about upcoming RIMS webinars, and more!

[1:10] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:27] The RIMS Legislative Summit will be held October 25th and 26th in Washington, D.C. For information, visit the link in the show notes.

[1:43] The Council of Insurance Agents and Brokers is a prominent ally of RIMS.

[1:57] Joel Wood became president of CIAB in January 2023 and is well-known in the risk and insurance community, having lobbied on behalf of CIAB for thirty years.

[2:08] Justin recorded this interview with CIAB President Joel Wood prior to RISKWORLD. They discussed RIMS’s and CIAB’s common goals and visions for 2023.

[2:31] Justin welcomes Joel Wood to RIMScast.

[2:37] Joel Wood is President of CIAB after 30 years of lobbying for the organization.

[3:07] Joel went to Washington 40 years ago to work for a member of Congress from his hometown and after five-and-a-half years, he went to an insurance trade group. Joel joined CIAB 30 years ago. CIAB has about 185 members, responsible for over 90% of premiums placed in the commercial property/casualty insurance market nationally.

[4:05] CIAB members have a good chunk of premiums on the health benefits side, also, including two-thirds of all employer-sponsored group health insurance plans. [4:30] All CIAB firms do business in all 50 states; most do international business. There is a commonality of interests among them. Joel talks of the extraordinary M&A environment over the last several years. CIAB has benefitted overall from M&A.

[5:35] The member of Congress Joel worked for was Don Sundquist, who later served for eight years as Governor of Tennessee. Joel talks about working for him.

[6:44] CIAB goes back 115 years. They host a premier event in the international commercial business insurance marketplace, at the Broadmoor, for brokers, carriers, and reinsurers to make connections. For most CIAB members, though, the one meeting that matches or surpasses it is the annual RIMS meeting.

[7:30] The relationship between CIAB and RIMS is extremely strong. Joel lists the threat of hard markets, shrinking capacity, inflation, and the rise of uninsurable events, in the eyes of the carriers. Joel comments on the chances of getting legislation passed by the divided government on Capitol Hill.

[9:34] Joel sees the most room for bipartisanship this year on data privacy legislation. Everyone in the insurance ecosystem shares frustration with 50 different standards on anything to do with data privacy. Joel explains his hope for the House and Senate to work together on data privacy legislation.

[11:33] A stretch goal is to reduce the cost of prescription drugs and enforce transparency for the PBM marketplace. Joel finds two-thirds of member firms spend two-thirds of their time on the benefits side, fighting existential threats, instead of on the property & casualty side, where two-thirds of their revenue is.

[12:42] PBMs have declared that the 2020 legislation requiring brokers to prospectively report all of their compensation from ERISA plans does not apply to them. Joel hopes the Senate will look closely at that.

[13:57] In property & casualty, Joel would like to see 2023 legislation on flood insurance. It’s going to take a dedicated Senate Banking Committee to make it happen.

[11:41] RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. RIMS Fundamentals of Risk Data, Analytics and AI virtual workshop is coming up on June 15! It’s a course for the RIMS Fundamentals of Risk Data Analytics and AI certificate on completion! See the link. To support education visit SpencerEd.org.

[13:45] CSA Group is the Canadian Standards Association. They are a leader in developing standards to make the world safer and in testing, inspecting, and certifying products to make sure that the products that get into the marketplace are safe. They have global operations.

[16:20] About the National Flood Insurance Program (NFIP). Joel has never heard anyone say they were happy with it. He would like to see more private solutions and private markets in the flood arena. We went a long stretch in a soft commercial marketplace. These are difficult issues.

[18:17] Justin and Joel share reminiscences about former Congress member, Dennis Ross. Joel would like to see him come back to lobby for risk retention insurance issues.

[19:20] The biggest and perhaps smartest champion of the insurance industry in the Senate is Senator Tim Scott a former Allstate executive and agency owner. In the House, Blaine Luetkemeyer has a strong industry background. Newer House members Monica De La Cruz, Anthony Garbarino, and Byron Donalds have industry experience.

[22:43] Anthony Garbarino chairs the cybersecurity subcommittee. He may be an ally on data privacy. A lot of carriers call cyber marketplace security breaches uninsurable events.

[23:48] Justin thanks Joel for being on RIMScast. Joel appreciates the opportunity and is grateful for the relationships between CIAB and RIMS and their similarities on many issues.

[24:54] Justin says a “special thanks to Joel Wood, the President of the Council of Insurance Agents and Brokers (CIAB).” See the links to CIAB. The RIMS Legislative Summit will be held October 23rd through the 26th in Washington, D.C. A link is on this episode’s notes. There is also a link to RISK PAC coverage with Gregory McKenna.

[25:30] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offers, including a transitional membership!

 

Mentioned in this Episode:

RIMS Legislative Summit — October 25‒26 in Washington DC!

RIMS Advocacy

RISK PAC

RIMS Canada 2023 — Sept. 11‒14 in Ottawa!

Spencer Educational Foundation — Risk Manager on Campus

Spencer Funding Their Future Gala — Sept 14 in NYC!

Contribute to Risk Management Magazine

RIMS Diversity Equity & Inclusion page

Upcoming Webinars:

The Top 10 Must-Have Reports for GRC and InfoSec Leaders | Sponsored by Resolver | June 8, 2023

Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies | Sponsored by Riskonnect | June 22, 2023

Upcoming Virtual Workshops:

RIMS Fundamentals of Risk Data, Analytics and AI | June 15, 2023 | 10:00 am‒2:00 pm ET  | Registration Closes June 14 | Enroll Now

Risk Appetite Management | July 12‒13

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

“RIMS Advocacy — See You In September” (2022)

“Keeping Up With RISKPAC” (2022)

Sponsored RIMScast Episodes:

“Insights into the Gig Economy and its Contractors” | Sponsored by Zurich (NEW!)

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd. 

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guests:

 

Guest: Joel Wood

President, Council of Insurance Agents and Brokers (CIAB)

 

Tweetables (For Social Media Use):

 

“I came to Washington 40 years ago, to work for a member of Congress from my hometown of Memphis. And so, I worked for him for five-and-a-half years. … I went off to a different insurance trade group and have been with CIAB for 30 years.” — Joel Wood

 

“The benefit that RIMS brings to the public policy arena is that, more purely than any other organization, RIMS members represent the voice of the insurance customer.” — Joel Wood

 

“I’m very circumspect about what can get done with divided government on Capitol Hill, with the narrowest possible Republican majority, and a very slim Democratic majority in the Senate, with a Democratic president, in an environment that is politically toxic.” — Joel Wood

 

“ We went a long stretch in a soft commercial marketplace.” — Joel Wood

 

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

May is Mental Health Awareness Month and it’s an event that we’ve covered here on RIMScast and something that RIMS takes very seriously. Here to talk about what risk professionals can do to help their co-workers and organizations is Michelle Drew, Manager, Corporate Insurance and BCM, The CSA Group (formerly the Canadian Standards Association); CSA is a standards organization that develops standards in 57 areas. CSA Group launched a volunteer program to increase psychological safety. Mental Health Ambassador Program (aka The Map). Michelle is one of the mental health ambassadors. These ambassadors are volunteers trained to provide discreet listening and assistance to anyone seeking mental health support and can help individuals navigate CSA's range of mental health resources.

Michelle is also the president of the ORIMS chapter so she shares a little update about what’s happening in Ontario and RIMS Canada.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode with ORIMS President Michelle Drew: How RIMS professionals can make an impact during Mental Health Awareness Month, also RIMS Canada news.

[:41] All about upcoming RIMS webinars, and more!

[1:17] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! Visit RIMSCanadaConference.ca for more information.

[1:35] May is Mental Health Awareness month and it’s an event that we’ve covered here on RIMScast and something that RIMS takes very seriously.

[1:42] Some quick stats from the National Alliance on Mental Illness (NAMI):

One in five U.S. adults experience mental illness each year. One in 20 U.S. adults experience serious mental illness each year. Fifty percent of all lifetime mental illness begins by age 14, and 75% by age 24.

[2:03] This is impacting the workplace. And here to talk about what risk professionals can do to help their co-workers and organizations against the backdrop of Mental Health Awareness Month is Michelle Drew, Manager for Corporate Insurance and BCM at The CSA Group, formerly the Canadian Standards Association.

[2:25] The CSA Group launched a volunteer program to increase psychological safety. It’s called the Mental Health Ambassador Program. Michelle is one of the mental health ambassadors.

[2:34] These mental health ambassadors are volunteers trained to provide discreet listening and assistance to anyone seeking mental health support. They offer a safe space and, when requested, can help individuals navigate CSA's range of mental health resources.

[2:48] Michelle will speak about launching the Mental Health Ambassadors. She is also the president of the ORIMS chapter so we’ll get a little update from her about what’s happening in Ontario and RIMS Canada.

[3:13] Justin met Michelle last year at some virtual events and RIMS Canada 2022 in Halifax. Justin welcomes Michelle Drew to RIMScast. This episode has been planned since January. There are risk management protocols for getting a guest on RIMScast. [4:02] As the CSA Group Mental Health Ambassador, Michelle is there to support and help. She acts as a bridge between employees and the mental health and wellness resources that CSA has, like the Employee and Family Assistance Program. Ambassadors listen to employees and steer them toward the available resources.

[5:14] Oftentimes, the employees just don’t know where to start. The ambassadors are not mental health professionals and don’t provide treatment but they try and get the employees connected with things that will help.

[5:50] Michelle has familiarity with mental health challenges and she shares some of her family experiences with them. She says it’s important to talk about mental health and remove the stigma from it.

[6:39] Michelle believes the mental health ambassador program is a great program to help support employees. CSA is all about safety. Mental well-being is a part of being safe. Michelle wants the people she works with to be happy, productive, and engaged in what they are doing. Mental well-being is important for all of that.

[7:28] Mental health authority guests on RIMScast a couple of years ago were concerned that the pandemic was going to exacerbate things for a lot of folks. Michelle agrees. Going from being able to be around people all the time to suddenly being encouraged to stay home goes against our social nature. We like to be around people.

[8:05] The pandemic itself was an unexpected unknown. There was fear that went with it. None of us knew how to react to or handle it. Stress can deeply affect people who are already having issues.

[8:47] When the call for volunteers came out, Michelle immediately knew she wanted to be in the ambassador program. She signed up, did the training, and got involved. She thinks it’s a great program to help support people through their day-to-day  We all have stresses. It’s helpful to have all of these resources and other people to talk to.

[9:30] Michelle notes that those of us who suffer from mental illness or challenges have a lot to offer. Sometimes we need an opportunity to be able to bring that to the table.

[9:50] Having a company that knows that sometimes minor tweaks to your environment can bring out the best in you can make a difference. Michelle shares the challenges her oldest child faces trying to find their place in the world. Michelle would like more workplaces to make their environment more safe.

[10:31] Michelle’s ambassador training was two days of Mental Health First Aid, a program open to anybody. Then there were a couple of days of training from the Employee Assistance Program to enhance the Mental Health First Aid program and make sure the ambassadors understood the resources that were available.

[11:51] RIMS plug time! Sponsor a weekly or dedicated episode of RIMScast! Contact us at [email protected]. RIMS Risk Appetite Management virtual workshops are coming up, May 17‒18 & July 12‒13! It’s a two-day course on navigating the complex and critical area of risk appetite management! See the link. To support education visit SpencerEd.org.

[13:45] CSA Group is the Canadian Standards Association. They are a leader in developing standards to make the world safer and in testing, inspecting, and certifying products to make sure that the products that get into the marketplace are safe. They have global operations.

[14:17] CSA Group is a private company that works with various government agencies to make sure that the standards they publish are included in legislation to make the world a better place.

[15:40] Michelle suggests that companies wanting to establish a mental health initiative should start with an accredited trainer. Decide what it is you are hoping to accomplish by rolling out such a program. CSA Group started with training selected interested employees with Mental Health First Aid as Step One in a long-term plan for the base.

[16:15] Michelle recommends reaching out to community mental health resources to help you start a company program.

[17:04] Risk managers need to be ready to be involved in a mental health program. Michelle says being able to help others is a huge part of what gives risk managers satisfaction. Model a healthy lifestyle. Talk openly to colleagues about mental health challenges and the things people can do to improve their mental well-being.

[18:07] Reach out to your HR department and offer to give them a hand in putting a program into place. Support them in whatever is required to get it done. Be open and honest with experiences you have had, the things that you’ve learned, and the things you want to help do. Normalize the conversation around mental health. Remove the stigma.

[19:05] It may take time for people to be confident in talking about mental health. A private conversation may be the best place to start. Or a series of conversations with time to think between them. In team meetings, talk about a particular topic or remind people about resources. People may come to you for support in a private conversation.

[20:12] Michelle is president of ORIMS, the Ontario Risk and Insurance Management Society chapter. It is the largest chapter outside of the U.S. Every once in a while, they tie for the largest RIMS chapter anywhere.

[21:03] ORIMS is holding Spring Fling on May 18th including a suite at the Blue Jays vs. the New York Yankees game. On June 20th ORIMS has a golf tournament at Deer Creek Golf Club. It sells out quickly!

[22:06] ORIMS is working hard at building out its social programs and professional development. Watch for workshop sessions. 

[22:41] The RIMS Canada 2023 Conference 2023 call for session proposals is out. RIMS Canada 2023 is a great opportunity to get together with your risk management colleagues and industry partners to celebrate being a risk manager! There will be many things to learn and people to talk to. Michelle hopes to do a session with someone!

[23:25] ORIMS will do the Train to Ottowa. The conference this year is in Ottowa, September 11th through 14th. Stay tuned for details. RIMSCanadaConference.ca. ORIMS site is OntarioRIMS.org.

[24:44] How did Justin do as MC last year? Michelle says awesome! Anyway, he’s happy to get an invite back this year! Justin shares his memories of 2021 and 2022. He loves working with ORIMS!

[25:50] Justin thanks Michelle for joining RIMScast and speaks about getting together at RISKWORLD 2023 and future RIMS events.

[26:02] Justin says a “special thanks to my friend and ORIMS President Michelle Drew for joining me today.” See the links about mental health awareness and coverage from Risk Management Magazine. Remember to join us at RIMS Canada Conference 2023. Visit RIMSCanadaConference.ca. We want to see you there!

[26:32] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offers, including a transitional membership!

 

Mentioned in this Episode:

RIMS Canada 2023 — Sept. 11‒14 in Ottawa!

Spencer Educational Foundation — Risk Manager on Campus

Contribute to Risk Management Magazine

Erik Severson Memorial 5K — May 2023 — Register today!

RIMS Diversity Equity & Inclusion page

Upcoming Webinars:

Risk Appetite Management | May 17‒18 & July 12‒13 — Register by 5/16 for May’s session.

Harness The Power of Data for Better Insurance Outcomes | Sponsored by TÜV SÜD | May 18, 2023

Large-Scale Risk: How Walmart Manages the Risks Unique to Large and Growing Companies | Sponsored by Riskonnect | June 22, 2023

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

Mental Health in the Workplace with Darcy Gruttadaro, Director of the Center for Workplace Mental Health (2021)

RIMS 2023 Risk Manager of the Year Theresa Severson

Riskworld Keynote Rachel Sheerin On How Risk Leaders Can Combat and Harness Burnout (2022)

Sponsored RIMScast Episodes:

Insights into the Gig Economy and its Contractors | Sponsored by Zurich (NEW!)

The Importance of Disaster Planning Relationships | Sponsored by ServiceMaster (NEW!)

Technology, Media and Telecom Solutions in 2023 | Sponsored by Allianz

Analytics in Action | Sponsored by Alliant

Captive Market Outlook and Industry Insights | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd.

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guests:

 

Guest: Michelle Drew

Manager, Corporate Insurance and BCM

CSA Group Mental Health Ambassador

CSAGroup.org

President of ORIMS.

https://www.ontariorims.org/

 

Mental Health First Aid

 

Tweetables (For Social Media Use):

 

“At CSA Group, we’ve got a Mental Health Ambassador Program … and I am one of the ambassadors. I have that as one of my tags in my signature. … I let the whole world know that I’m interested in this area and that I’m here to support and help.” — Michelle Drew

 

“It’s important to try and normalize talking about mental health and realizing that it’s not something that needs to be hidden. Let’s talk about it; let’s normalize it; let’s remove the stigma from it.” — Michelle Drew

 

“As soon as they put out a call for volunteers, I immediately knew that I wanted to be involved in this. So I signed up, I did the training, and I got involved in the program. I think it’s a great program to help support people through their day-to-day.” — Michelle Drew

 

“Those of us that suffer from many mental illnesses or challenges have a lot to offer. Sometimes we need an opportunity to be able to bring that to the table.” — Michelle Drew

 

“Risk managers have it in our DNA to help others.” — Michelle Drew

 

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

RISKWORLD draws engagement from various areas of the risk profession around the globe. This year, in live interviews recorded onsite from the floor of the Georgia World Congress Center, host Justin Smulison met with various guests to discuss the recent banking failures and their impact on risk and insurance, disaster preparedness, and how Japanese risk professionals present information and philosophies to their leaders in government and to interested corporations.

 

Join Justin and his guests to relive the excitement of Days 1 and 2 of the world’s largest risk management event.

 

Key Takeaways:

[:01] About RIMScast.

[:27] About today’s episode with interviews recorded live from the floor of the Georgia World Congress Center during RISKWORLD 2023.

[:41] All about upcoming RIMS webinars, and more!

[1:21] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! The call for educational session submissions is open. Visit RIMSCanadaConference.ca for more information.

[1:43] This episode’s interviews were recorded live at RISKWORLD 2023. Justin loves doing the live interviews and delving into the various perspectives of his guests.

[1:55] Justin’s first guest is Paul Larson, the President of Financial Lines at Liberty Mutual. They met on May 1st before Paul’s session, “A Banking Crisis’s Impact on the Insurance Industry.” It was perfectly timed. That day, less than two months after the collapse of SVB, it was announced that JPMorgan had bought troubled First Republic.

[2:36] Justin welcomes Paul Larson to RIMScast.

[2:51] Paul’s session is about what’s happening with respect to the banking crisis, if there is one. Paul talks to risk managers on the corporate and financial services sides about how this could impact businesses. How did the session go, Justin asks. “Oh, we killed it! Knocked it out of the park,” Paul forecasts!

[3:30] Paul’s take on the banking crisis is that it’s not at that stage yet. So far, we don’t have a significant credit issue. But will the interest rate risk become a credit risk?

[4:10] The JPMorgan purchase of First Republic doesn’t much change the dynamic of Paul’s session. The SVB and First Republic failures resulted from liquidity issues and uninsured deposits. Both firms had significant levels of uninsured deposits, as did Signature Bank.

[4:59] Banks should act as though the 2018 roll-back of Dodd-Frank had not happened. 

Paul brings up the need for banks to manage liquidity risk, regulators to ask for change, and banks to manage their interest rate risk and asset-liability matching.

[5:35] The Fed acknowledged that they saw the risk at SVB and should have been heavy-handed early on.

[6:01] Paul thinks the directors and officers of SVB are going to be held accountable for the failure and we will see litigation as a result of it. The failure emphasizes the importance of having a strong Chief Risk Officer in place to manage the process all along. For over eight months, SVB did not have a CRO.

[6:30] Justin had done an episode with the risk manager from Sterling Bank and Trust, Eleni Willis, about the failure of SVB and their lack of a CRO. She likened it to pulling your quarterback in the middle of a fourth-quarter blitz. Paul agrees it’s critical for a bank the size of SVB or First Republic to have a CRO and a succession plan if one departs!

[7:04] Paul suggests the Chief Financial Officer of a bank become the interim CRO. 

[7:21] RISKWORLD 2023 is the 21st RISKWORLD Paul has attended. Justin thanks Paul for being on RIMScast.

[7:43] It was National Hurricane Preparedness Week, April 30th through May 6th, 2023. So Justin speaks to a preparedness expert, Alexander Walton, the National Director of Client Development at Blueteam. Blueteam does restoration construction and roofing. [8:11] Justin and Alexander discuss the trends in hurricane preparedness and things Alexander has seen as a worker on the ground. Hurricane season is coming up soon!

[8:31] Justin welcomes Alexander Walton to RIMScast. This is Alexander’s first year attending RISKWORLD; he plans to attend going forward. He has been with Blueteam for just over seven months and in the risk management space for about six years. Before Blueteam, Alexander was the GM for a couple of ServiceMaster offices out west.

[9:46] Blueteam is based in Boca Raton and gets the first hit of hurricane season. The Blueteam crews stay prepared and ready to go.

[10:10] Blueteam’s mantra is preparedness. Blueteam’s proprietary software allows it to alert customers by location that may be in the line of a hurricane so the customers can have a better understanding of what to prepare for by boarding up and getting any equipment they might need to prevent the most damage.

[10:52] Boca Raton is an hour north of Miami. Justin asks about the damages from Hurricane Ian. Blueteam’s takeaway from Ian was that you can never be too prepared. The more you can do on the front end, the easier it is for Blueteam to come and mitigate and prevent further damage from sitting water and potential structure failures.

[11:44] How does Blueteam prepare for enhanced risks from climate change? Blueteam has been busy year-round, mitigating torrential rains and flooding and an earlier, increased tornado season.

[12:33] Alexander notes that the technological advancements at Blueteam are in customer interaction. The proprietary software includes warnings for earthquakes, fires, freeze warnings, wind warnings, as well as hurricanes, so customers can take evasive measures to prevent damage.

[13:28] Florida has had freeze warnings, flooding, hurricanes, and extreme winds this year. The freezes and windstorms are applicable around the country. Blueteam has seen a huge peak in business for repairs from those two climate disasters.

[14:17] Alexander’s experience on the ground shaped his risk management career. He has insight into the customers’ perception, allowing conversations on how Blueteam can help on the front end and what to expect in terms of timelines and repair. These conversations build solid relationships. The customers know they are valued.

[14:58] Alexander’s worst experience on the ground was from an internal fire with lots of smoke damage. He had to see that residents of a senior living facility were secure and repair smoke damage and mitigate water damage from the fire department. He had to get people back on track and into their normal routines as soon as possible.

[15:43] Justin’s final guests today are from The Institute of Energy Economics, an arm of the Japanese government. Justin met them sitting in the DE&I Lounge, preparing for their Global Studio session, “Collaboration with an Energy Resiliency Working Group.” They were enthusiastic to be on the show and speak of energy!

[16:09] Justin welcomes Akihiro Kimura, Hirotaka Mitsui, and Kentaro Hayashi of

The Institute of Energy Economics in Japan to RIMScast. Akihiro Kimura, a risk manager, explains they are presenting the “new normals” of cyber risk, pandemic risk, and climate change risk.

[17:43] Akihiro says we need not only risk management but also resilience management. Their presentation will focus first on the energy supply side and demand side. They will show energy resilience scoring to help insurers, bankers, and funders.

[19:05] Hirotaka Mitsui explains the Five Ds of Japanese energy resilience management are Depopulation, Deregulation, Decentralization, Digital transformation, and Decarbonization. This is the thesis of their presentation. Japanese government and corporations are looking for new markets to invest in energy resilience.

[20:29] Kentaro Hayashi is very excited to be at RISKWORLD! He has been a risk professional for one year.

[21:23] Justin wishes Akihiro Kimura, Hirotaka Mitsui, and Kentaro Hayashi lots of luck at their studio session and to have a great experience at RISKWORLD; he hopes to see them again next year in San Diego. 

[21:39] Justin says a “special thanks to all of my guests” and all of the RIMS staff for hosting yet another fantastic RISKWORLD! Mark your calendars now for RISKWORLD 2024, May 5th‒9th in San Diego, California. We can’t wait to see you there!

[22:00] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offers, including a transitional membership!

 

Mentioned in this Episode:

Mark Your Calendars! RISKWORLD 2024 will be in San Diego, May 5‒9.

RIMS Canada 2023 — Sept. 11‒14 in Ottawa! Submit an educational session.

RIMS Diversity Equity & Inclusion page

Spencer Educational Foundation — Risk Manager on Campus

Contribute to Risk Management Magazine

RIMS Risk Management Magazine: Awards Edition 2023

Upcoming Webinars:

“The Green Transition” | Sponsored by Beazley | May 9, 2023

“Unraveling the White-Collar Criminal: A Comprehensive Look at the Forces Driving Organized Insurance Fraud” | Sponsored by Travelers | May 11, 2023

“Harness The Power of Data for Better Insurance Outcomes” | Sponsored by TÜV SÜD | May 18, 2023

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“RIMS 2023 Risk Manager of the Year Theresa Severson”

“RIMS 2023 Rising Star Emily Bloedel”

“Riskworld Keynote Johnny C. Taylor, Jr., SHRM President and CEO” (2023)

“Innovation and Improvisation with RISKWORLD Keynote Josh Linkner” (2023)

“Celebrating #SpencerDay and Funding the Future of Risk Management”

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

“ERM in Banking & Finance with Eleni Willis”

Sponsored RIMScast Episodes:

The Importance of Disaster Planning Relationships | Sponsored by ServiceMaster (NEW!)

Technology, Media and Telecom Solutions in 2023 | Sponsored by Allianz (NEW!)

Analytics in Action | Sponsored by Alliant

Captive Market Outlook and Industry Insights | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd. 

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS Advisory Services — Ask a Peer

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guests:

 

Paul Larson

President, Financial Lines, Liberty Mutual

 

Alexander Walton

National Director of Client Development, Blueteam

 

Akihiro Kimura

General Manager, The Institute of Energy Economics, JapanHirotaka Mitsui

Research Fellow, Central Research Institute of Electric Power Industry, Japan

Kentaro Hayashi

Senior Researcher, The Institute of Energy Economics, Japan

 

Tweetables (For Social Media Use):

 

“I’m hesitant to call it a banking crisis just yet. There are certain areas of concern. … We don’t have a significant credit issue. … Will the interest rate risk become a credit risk?.” — Paul Larson

 

“Our [Blueteam] proprietary software allows us to alert customers, ... for hurricanes, earthquakes, fires, freeze warnings, and wind warnings. So our technology allows us to get them on track faster, prepared faster, and able to take evasive measures faster.” — Alexander Walton

 

“We call it the five Ds; That’s Depopulation, Deregulation, Decentralization, Digital transformation, and Decarbonization.” — Hirotaka Mitsui

 

 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

 

Today’s guest is RIMS 2023 Risk Manager of the Year Theresa Severson. Theresa Severson was already a 30-year veteran of the risk profession when her prior company was acquired by Kite Realty Group, creating one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use properties. Theresa shares how she became VP of Insurance and Risk at Kite, and how her years of successful experiences helps Kite. Theresa tells about what being named RIMS 2023 Risk Manager of the Year means to her, and how her RIMS membership helps her, including having recently served as President of the RIMS Chicago Chapter. She offers an inside look at Risk Management in a large REIT, and how she uses her position to mentor the next generation of risk professionals.

 

Key Takeaways:

[:01] About RIMScast.

[:14] This episode was released May 1st, the start of RISKWORLD 2023. Use the RIMS Events App from the App Store on your mobile device to plan educational sessions.

[:30] About today’s episode with RIMS 2023 Risk Manager of the Year Theresa Severson.

[:49] All about upcoming RIMS webinars, workshops, events, and more!

[1:30] The RIMS Canada Conference 2023 has been announced for September 11th‒14th in Ottowa! The call for educational session submissions is open. Visit RIMSCanadaConference.ca for more information.

[1:51] About today’s episode. Theresa Severson was a 30-year veteran of the risk profession when her prior company was acquired by Kite Realty Group in a $7.5 billion merger. Kite is one of the largest publicly-traded owners and operators of open-air shopping centers and mixed-use properties.

[2:10] Theresa was asked to continue at Kite to lead the transition and the risk management group as hundreds of millions of square feet of gross leasable space were affected by the merger. Outside the office, she’s very well known at RIMS and in the greater risk management community.

[2:27] Theresa served as a Vice President of Chicago RIMS and more recently as President, from 2022 to 2022, a critical time for the profession and all chapter leaders. She was also named to Captive Review’s Power 50 Captive Owners for 2022.

[2:41] Her success for her organization and her ability to advance the practice of risk management earned her the title of RIMS 2023 Risk Manager of the Year! You can read more about Theresa in the Awards Edition of RIMS Risk Management Magazine.

[2:55] And if you are at RISKWORLD, join us on May 1st at the Global Studio at 2:00 p.m. for an even deeper dive into her work and career.

[3:03] RIMS 2023 Risk Manager of the Year Theresa Severson, welcome to RIMScast!

[3:35] Theresa was shocked, extremely grateful, and humbled to be selected as the RIMS 2023 Risk Manager of the Year! What meant the most to her was that her nomination was put forth by the Chicago RIMS Chapter. She greatly admires the risk professionals in that chapter.

[4:24] Theresa describes the vibe of the Chicago Chapter of RIMS. It’s one of the largest chapters; the members are very engaged and looking at ways of supporting each other, providing education on the cusp of emerging risks, and networking opportunities.

[5:19] Theresa served on the Board in 2010 for several years and then served as Vice President. The President took another position that required her to step down on the cusp of COVID-19, so Theresa became the Chapter President and held that position for almost two years. She is now the immediate Past President.

[6:05] Was being Chapter President a full-time endeavor for Theresa? There is such a great board and list of officers that everybody carries a lot of the weight. That made it an enjoyable position. Theresa hopes to continue helping the next group of officers.

[7:01] Theresa had been VP of insurance and Risk at Retail Properties of America for 12 years. In October 2021, Retail Properties of America merged with Kite Realty Group to become the fifth-largest, publicly-traded, open-air REIT in the country.

[7:40] It was a challenging time for Theresa before she knew she would be offered a position at Kite. She was offered a role and was assured the support and engagement to be successful. A year and a half later, with support from the C-suite, they completed the combined program in December 2022.

[9:33] Before the merger with Retail Properties of America, Kite did not have an insurance and risk manager. The merger increased Kite’s portfolio by 60 percent, from 84 properties to 187. So they saw the need for a risk department. Theresa contrasts the assets of the two companies. Kite’s Florida portfolio was in a challenged market.

[11:22] About Kite Realty Group’s Florida portfolio and Hurricane Ian. Their damage was not significant and was almost 100% landscaping issues. Theresa had explained to the underwriters before Ian landed the minimal risk their sturdy inland structures might face.

[13:05] Does Theresa visit the portfolio properties? She visits some of them, to familiarize herself with the risks in the property.

[15:05] Theresa explains the value of captives to navigate the highs and lows of the insurance market. She tells why she separates the property and liability coverages and how she chooses between a third party and a captive.

[17:03] RIMS plug time! Volunteer for Spencer’s Risk Manager on Campus Program! Visit spencered.org. There is now a RIMS-CRMP-FED program for federal professionals. The next virtual workshop will be held from May 8th through the 10th. There is a virtual workshop, Applying and Integrating ERM, on May 24th and 25th. Links are in the notes.

[19:39] About Theresa’s work as a mentor and fostering the next generation of risk talent through a Spencer internship grant. She shares a student success story. She was happy to open the door for him. He took good advantage of it and is doing well. [24:20] The Erik Severson Memorial 5K is a celebration of the life of Theresa’s son who passed in 2008 at age 18. They partner with Project Healthy Mind to provide resources to those struggling with mental health and anxiety. Over the last three years, the race has raised over $50K toward building a website where people can look for local help.

[25:19] Project Healthy Minds is running strong with board members from sports organizations, hospitals, marketing, and the entertainment industry. This year the race is collecting items for a store at Hesed House, a shelter where Erik volunteered. Sign up at Runsignup.com for the Erik Power Severson Memorial 5K Walk/Run.

[27:08] Justin and Theresa are going to host a session at the Global Studio at RISKWORLD on Monday, May 1st, at 2:00 p.m. for a 20-minute, in-depth discussion.

[27:40] About what Theresa’s RISKWORLD connections mean to her. Her calendar is jam-packed with meetings during the conference as she meets with underwriters and vendors and attends the educational sessions. It’s everything and everybody, all at once, in one place! It’s exhausting, in a good way!

[29:36] Theresa’s parting words: “I think the things that have most allowed me to be successful within my organization and allowed them to be positioned well, to survive this challenging market, are the relationships and the network that I’ve built. And that has definitely been a huge part of RIMS, the network professionals I can reach out to.”

[30:47] Justin congratulates Theresa Severson on being named RIMS 2023 Risk Manager of the Year!

[30:58] Special thanks to RIMS 2023 Risk Manager of the Year Theresa Severson for joining RIMScast. If you are attending RISKWORLD on May 1st, see Theresa receive her reward at the Awards Luncheon. Visit the Global Studio on May 1st for RIMScast Live with Theresa Severson at 2:00 p.m.

[31:23] Read about Theresa in the Special Awards Supplement to RIMS Risk Management magazine at the link in the notes below.

[31:36] Sponsor a RIMScast episode to reach a global audience! Justin shares other RIMS offers, including a transitional membership!

 

Mentioned in this Episode:

RISKWORLD 2023 — April 30‒May 3 in Atlanta, Georgia! On-Site registration is open!

LAST CALL — RIMS-CRMP-FED Virtual Prep Course — May 8‒10, 2023 | Register by May 1.

RIMS Diversity Equity & Inclusion page

Spencer Educational Foundation — Risk Manager on Campus

Contribute to Risk Management Magazine

RIMS Risk Management Magazine: Awards Edition 2023

Erik Severson Memorial 5K — May 2023 — Register today!

Hesed House

Upcoming Webinars:

“The Green Transition: Raising Long-Term Resilience Against Climate Change as Environmental Risks Intensify” | Sponsored by Beazley | May 9, 2023

“Unraveling the White-Collar Criminal: A Comprehensive Look at the Forces Driving Organized Insurance Fraud” | Sponsored by Travelers | May 11, 2023

“Harness The Power of Data for Better Insurance Outcomes” | Sponsored by TÜV SÜD | May 18, 2023

See the full calendar of RIMS Virtual Workshops

Related RIMScast Episodes:

“RIMS 2023 Rising Star Emily Bloedel”

“Riskworld Keynote Johnny C. Taylor, Jr., SHRM President and CEO” (2023)

“Innovation and Improvisation with RISKWORLD Keynote Josh Linkner” (2023)

“Celebrating #SpencerDay and Funding the Future of Risk Management”

“Strategic Moves with RIMS CEO Gary LaBranche”

“RIMS President Jennifer Santiago: R.E.A.D.Y. for 2023”

“From the Office of “KNOW”: Risk Manager of the Year 2022 Courtney Davis Curtis”

Sponsored RIMScast Episodes:

“The Importance of Disaster Planning Relationships” | Sponsored by ServiceMaster (NEW!)

“Technology, Media and Telecom Solutions in 2023” | Sponsored by Allianz (NEW!)

“Analytics in Action” | Sponsored by Alliant

“Captive Market Outlook and Industry Insights” | Sponsored by AXA XL

“Using M&A Insurance: The How and Why” | Sponsored by Prudent Insurance Brokers Ltd. 

“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

“Keeping Subcontractors Safe Through Partner Elevation” | Sponsored by Highwire

“ESG: A Responsibility and a Growing Megatrend” | Sponsored by Prudent Insurance Brokers Ltd.

“Prioritizing People: Focusing on Your Team to Deliver Exceptional Quality and Service to Your Clients” | Sponsored by Gallagher Bassett

“Bermuda Opportunities in 2022 with BDA Chair Stephen Weinstein” | Sponsored by Bermuda Business Development Agency

“SyncR: A Tool to Enhance Your Risk Quality & Insurance Strategy” | Sponsored by Prudent Insurance Brokers Ltd.

“RIMScast: Navigating the Risk Landscape in 2022” | Sponsored by AXA XL

“RIMScast: Prioritizing People: Expertise and Innovation” | Sponsored by Gallagher Bassett

“RIMScast: Risk Findings for the Industrial & Manufacturing Industry” | Sponsored by Aon

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS Advisory Services — Ask a Peer

Risk Management Magazine

Risk Management Monitor

RIMS Risk Leaders Series

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Broward County RIMS President Stacey Nielsen!

Spencer Educational Foundation

RIMS DEI Council

RIMS Path to the Boardroom

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

NEW FOR MEMBERS! RIMS Mobile App

RIMS Buyers Guide

Dan Kugler Risk Manager on Campus Grant

Sponsor RIMScast: Contact [email protected] or [email protected] for more information.

 

Want to Learn More?

Keep up with the podcast on RIMS.org and listen on iTunes.

Have a question or suggestion? Email: [email protected].

 

Join the Conversation!

Follow @RIMSorg on Facebook, Twitter, and LinkedIn.

 

Follow up with Our Guest:

Theresa Severson

Vice President, Insurance and Risks at Kite Realty Group

 

Tweetables (For Social Media Use):

 

“We are one of the largest if not the largest chapter in that part of RIMS and our members are just looking at ways of supporting each other, bringing out educational materials, being on the cusp of emerging risks, … as well as the networking opportunity.” — Theresa Severson

 

“It was a challenging time. … You just have to keep moving forward. … Fortunately, I was offered a role at Kite and I also had the conversations that I felt necessary that ensured that I’d get the support and engagement to be successful.” — Theresa Severson

 

“It’s really important to be able to continue those (market) connections, and continue to build those relationships, because, especially in this marketplace right now, you need all the friends you can get.” — Theresa Severson

 

“RIMS has allowed me to build out that network that I lean into, that I find support to be successful from. If you’re not involved in your local RIMS chapter, I highly encourage you. It will allow you to be more successful … and give you resources.” — Theresa Severson