Let’s explore insurance litigation’s new terrain. This week, Brandon Schuh leads a sharp conversation with Matt Monson of The Monson Law Firm and Todd Kozikowski, CEO and Co-Founder at 4WARN. Delving into topics like mass torts, nuclear verdicts, and litigation harvesting, the episode unpacks aggressive trends driving major changes in claims and coverage, highlighting how private capital, marketing tech, and regulatory gaps are remaking the insurance landscape.

The discussion details how litigation harvesting has become a well-oiled pipeline, fueled by third-party investments and digital lead generation mechanisms. Matt Monson elaborates on law firms' multimillion-dollar deals with hedge funds while Todd Kozikowski exposes 4WARN’s data-driven risk analysis and the ways claims are mass-produced through AI-powered advertising and direct outreach. Social inflation and nuclear verdicts are dissected as top factors raising premiums and challenging the survival of insurance carriers.

Monson and Kozikowski call for smarter oversight and risk management, stressing the urgency for insurers to adapt tactics and regulatory bodies to rein in unscrupulous lead generation. The episode also highlights innovations like parametric-triggered cat bonds after disasters, underscoring the growing complexity of risk mitigation facing carriers today as digital and financial disruptions reshape both litigation and underwriting norms.

Takeaways:

• Litigation harvesting is driving record claim volumes across insurance sectors.

• Third-party funding and hedge funds are key engines of mass torts.

• Digital ads, AI, and direct messaging redefine claims acquisition.

• Nuclear verdicts and social inflation sharply raise costs for insurers.

• Lead generation companies are bypassing traditional legal ads.

• Parametric cat bonds are key for catastrophic risk transfer.

• New regulatory oversight is needed to stabilize litigation risk.

• Data analytics solutions like 4WARN inform risk management for carriers.

Chapters:

00:00 Introduction

01:00 Fast publishing & market turbulence update

03:00 Litigation harvesting mechanics: investment & marketing

07:30 Introducing guests: Matt Monson and Todd Kozikowski

09:00 The effect of nuclear verdicts on premiums

13:00 Third-party funding in mass torts

16:30 Catastrophic events and insurance innovations

20:00 Digital targeting and AI-powered claims lead generation

22:30 4WARN’s analytics: Risk assessment for carriers

26:00 Policy, regulation, and future outlook

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Matt Monson

Founder and Manager, The Monson Law Firm

Website: monsonfirm.com 

LinkedIn: https://www.linkedin.com/in/matthewdmonson/ 

Todd Kozikowski

CEO & Co-Founder, 4WARN

Website: 4warn.com  

LinkedIn: linkedin.com/in/toddkozikowski 

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/ 

We deep dive into the latest insights in commercial insurance on RiskCellar, uncovering Q3 2025's leading market developments. We spotlight Chubb's record-setting $2.26 billion underwriting profit and 81% combined ratio, a testament to disciplined underwriting and strategic focus on high-value home insurance, especially in competitive states like Texas. With property insurance rates stabilizing and sector appetites opening, the discussion highlights cautious optimism while navigating the turbulence of today's market.

The conversation turns to the evolving landscape of casualty insurance, where nuclear verdicts and third-party litigation financing present unprecedented challenges for carriers. We weigh in on the controversial cyber insurance space, particularly the ethical dilemma of paying ransomware, referencing the massive Land Rover supply chain hack that cost the UK economy $2.5 billion. Concerns over the insurance industry's role in possibly funding fraudulent and criminal activity remind listeners that risk extends far beyond underwriting spreadsheets.

Rounding out the episode, we examine industry consolidation, cat bond alternatives to reinsurance, and the push for state cost sharing to fight climate-driven disasters. Upcoming guests, defense attorneys Matthew Monson and Todd Kozakowski, will join future conversations to debate the impact and ethics of third-party litigation financing. Coupled with candid wine reviews and a preview of the London market's expansion, This is a must-listen episode for professionals seeking clarity in a complex commercial insurance world.

Takeaway List (6–8):

• Chubb achieved $2.26B underwriting profit & an 81% combined ratio in Q3 2025.
• Property insurance rates are stabilizing, with rising appetite in select regions.
• Nuclear verdicts and litigation financing continue to disrupt casualty markets.
• Cyber insurance faces scrutiny after the $2.5B Land Rover supply chain hack.
• Third party litigation financing raises ethical and legal questions.
• Wholesale brokers like RT Specialty are exploring London market expansion.
• Cat bonds and state-level cost sharing models are gaining traction as disaster solutions.
• Insurance tech firms like FreeFlow AI automate servicing and back-office work.

Chapters:

00:00 FreeFlow AI sponsor message

00:43 Episode start, hosts Brandon Schuh & Nick Hartmann

01:30 Wine reviews and insurance banter

03:00 Chubb Q3 2025 profits and combined ratio breakdown

06:00 Texas property insurance and market trends

09:00 Casualty insurance, nuclear verdicts, litigation financing

14:00 RT Specialty & London market speculation

16:30 Cyber insurance, Land Rover hack, criminal funding

21:00 Cat bonds & reinsurance alternatives

24:00 Climate disaster, state cost sharing

28:00 Upcoming defense attorney guests preview

32:00 Closing thoughts & wine recap

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/

We dive deep into the seismic shifts reshaping the insurance brokerage landscape, from unprecedented jury verdicts to transformative AI automation. The duo unpacks how California legislation is changing the legal landscape, following Governor Gavin Newsom's decision to shut down fee-sharing arrangements between attorneys and non-lawyer investors through AB 931. This regulatory move comes as Johnson & Johnson faces a staggering $966 million talc powder verdict, raising critical questions about the role of litigation funding in driving thermonuclear verdicts that threaten to destabilize traditional insurance risk transfer mechanisms.

The episode tackles Acrisure insurance layoffs affecting 400 employees, with the global brokerage citing AI and automation as primary drivers for workforce reduction. This development reflects broader insurance industry AI job displacement trends, as approximately 17,375 positions were eliminated between January and September 2025 according to the hosts. Brandon and Nick explore whether these cuts represent genuine technological efficiency gains or mask deeper margin pressures facing private equity-backed insurance consolidators who may have overpaid during aggressive acquisition sprees.

From First Brands' mysterious missing $2.3 billion in the auto parts distribution sector to Marsh McLennan's stripped-down rebranding as simply "Marsh," the hosts examine how credit insurance and operational risk management practices are being tested in an era of fast-and-loose lending. The conversation weaves through Halloween planning and golf tournaments while delivering sharp insights into mass tort litigation funding disclosure requirements, contingency fee sharing regulations, and why credit insurance remains one of the insurance industry's most underutilized products despite mounting wholesale distributor bankruptcies.

Key Takeaways:

• Acrisure announced 400 layoffs citing AI automation, representing significant workforce reduction in the insurance brokerage industry amid private equity margin pressures
• California Governor Gavin Newsom signed AB 931 banning contingent fee sharing between attorneys and non-lawyer investors, effectively restricting third-party litigation funding arrangements
• Johnson & Johnson hit with $966 million verdict in California talc cancer case backed by third-party litigation funding from Salton Lodge investment funds
• First Brands Group filed bankruptcy with $2.3 billion mysteriously vanishing from the major auto parts distributor's balance sheet, exposing risks in private credit lending
• Marsh McLennan rebranding to simply "Marsh" effective January 2026, consolidating Guy Carpenter and other subsidiaries under unified brand identity
• Credit insurance remains severely underutilized despite mounting wholesale distributor bankruptcies exposing significant gaps in risk management strategies

Chapters:

00:00 Introduction

00:39 Welcome Back to RiskCellar with Brandon and Nick

00:57 Halloween Planning and Family Updates

03:41 Episode Overview: Industry News Breakdown

04:24 Marsh McLennan Rebranding Discussion

06:25 First Brands Bankruptcy and Missing Billions

07:53 Credit Insurance Conversation and Market Gaps

09:28 Acrisure Layoffs and AI Automation Impact

14:45 California Third-Party Litigation Funding Law

18:07 Johnson & Johnson $966 Million Talc Verdict

20:50 Two Truths and a Lie: Astronomy Edition

22:59 RiskCellar Recognition and Cross-Promotion Plans

24:30 Wine and Tequila Chat

27:47 Closing Remarks and Newsletter Subscription

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/

Sponsor: FreeFlow AI

Website: https://www.freeflow.ai

Email: [email protected]

In this insightful episode of RiskCellar, hosts Brandon and Nick delve deep into the evolving world of litigation finance with special guest Nick Rowles-Davies, CEO of Lexolent. Nick shares his extensive experience across the UK and international litigation finance landscape, highlighting the industry's foundational purpose: enabling access to justice for those who otherwise could not afford to pursue valid claims. The conversation covers the broad spectrum of litigation finance, from consumer funding and law firm lending to high-stakes commercial disputes, and the stringent underwriting processes that ensure careful risk management.

The discussion compares the UK and US legal systems, exploring the impact of adverse cost rules in the UK versus juries and nuclear verdicts in the US. Recent regulatory developments, including Arizona's pioneering mandatory disclosure requirement for litigation funding, are considered. The episode also highlights how technology and AI are transforming case identification and underwriting. Listeners gain balanced perspectives on litigation finance's role as a driver of fairness and disruption within the legal and insurance landscapes.

Key Takeaways:

1. Litigation finance began as a vehicle for access to justice.

2. Multiple types exist: consumer, law firm, and commercial funding.

3. Rigorous due diligence leads to funding very few cases.

4. UK’s “loser pays” deters frivolous lawsuits, unlike US approach.

5. Arizona’s disclosure rule promotes funding transparency.

6. Litigation finance in US is a small but growing industry.

7. AI and tech play increasing roles in deal sourcing and assessment.

8. Collaboration with insurers aligns interests.

9. Litigation finance can facilitate fairer outcomes and longer negotiations.

10. Transparency and regulation are essential for credibility.

11. Social and legal differences affect litigation finance globally.

12. Legal technology promises further evolution.

13. Challenges remain regarding lawsuit inflation and insurance impacts.

Episode Chapters:

00:00 Intro & sponsor message

05:00 Origins and purposes of litigation finance

15:00 Types of funding and underwriting approach

25:00 UK vs US legal system differences

35:00 Arizona’s funding disclosure and regulation trends

45:00 Technology & AI in litigation finance

55:00 Case examples and insurance ecosystem effects

65:00 Social influences & nuclear verdict concerns

75:00 Closing thoughts & outro

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Guest: Nick Rowles-Davies

Lexolent Website: https://www.lexolent.com/nick-rowles-davies

Nick Rowles-Davies LinkedIn: https://www.linkedin.com/in/nick-rowles-davies/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:LinkedIn: https://www.linkedin.com/in/nickjhartmann/ 

Litigation financing is a field that can seem a bit complex, but at its core, it's all about helping people and businesses manage the financial strain that comes with legal battles. In this episode with Eric Schuller, president of the Alliance for Responsible Consumer Legal Funding, we got a clear picture of what consumer legal funding is really about. Unlike commercial litigation financing, which involves large sums of money flowing to law firms or corporations to cover hefty legal fees, consumer legal funding reflects smaller, more direct support. This funding helps everyday people cover their living expenses, think rent, mortgage, groceries, while their legal cases move through the system. Eric emphasized that the money given in consumer legal funding cannot be used to pay for the litigation itself, which is a vital protection designed to keep things transparent and fair.

On the flip side, commercial litigation financing is a much bigger beast, mostly involving companies funding lawsuits that can reach into the millions, like patent fights or other business-related disputes. The stakes and amounts are larger, and this sector is often criticized because it sometimes leads to complex conflicts of interest, especially when outside investors start putting money directly into law firms. Eric talked about how these big commercial deals have a vastly different risk profile and payment structure compared to consumer funding. The commercial side tends to have fewer but much larger investments, while consumer legal funding operates on a higher volume of smaller cases, supporting individuals who really need the financial bridge to get through tough times.

One of the key challenges discussed is the confusion in legislation that lumps these two types of funding together, which can lead to unfair restrictions and misunderstandings. Eric pointed out that legislation works best when it clearly distinguishes consumer funding from commercial financing. The consumer side is focused on protection and aid, while the commercial side is more about risk investment and business strategy. This clear separation helps protect consumers who rely on these funds for basic needs without hampering the potential regulation and oversight of the commercial financing world. It’s a constantly evolving space, with new laws and industry best practices emerging to ensure fairness, transparency, and responsible investment from both sides.

Takeaway List:

Distinction between consumer legal funding and commercial legal funding

Consumer legal funding supports household needs, not litigation costs

Commercial litigation funding involves large sums for business lawsuits

Consumer funding payout comes after attorney and lien payments

Consumer legal funding started in late 1990s; commercial in early 2000s

Chapters:

00:00 Introduction to Litigation Financing

02:00 Overview of Consumer Legal Funding

10:00 Differences Between Consumer and Commercial Litigation Funding

18:00 Eric Schuller's Insights on Consumer Legal Funding

30:00 Legislative Landscape and Consumer Protections

40:00 Commercial Litigation Financing Challenges

50:00 Disclosure, Regulation, and Industry Future

60:00 Role of Insurance and Risk Management

70:00 Closing Thoughts on Litigation Financing

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/

We’re excited to kick off a new season of the RiskCeller podcast after a well-deserved break! In this episode, we not only catch up on personal adventures and favorite wines, but we also unveil a shift in our show’s format, moving beyond insurance industry news to tackle a wider range of timely topics and in-depth interviews. This fresh approach is about delivering a perfect mix of hard-hitting news and thoughtful, expert discussions for our listeners, whether you’re an insurance professional or just intrigued by the broader legal landscape.

One of the major issues we explore is third-party litigation funding and its destabilizing effects on the insurance sector. We discuss how litigation financing, where outside investors fund lawsuits for a slice of the settlement, has grown rapidly in the U.S., fueling what’s often called “social inflation.” This trend is creating complications for insurers by inflating the costs of claims and pushing up premiums for everyone, from homeowners to small businesses. Notably, the episode centers on our interview with Minnesota State Senator Judy Seberger, an insurance defense attorney leading efforts for more transparency and consumer protections in litigation funding. Her bill, SF-2929, aims to shine light on industry practices and guard against predatory lending in the legal system.

Throughout the episode, we reflect on the ripple effects that rising litigation costs have on insurance premiums and consumer experience. We compare trends across states, dig into the ethical and economic challenges posed by third-party funding, and debate if more states should follow Minnesota’s lead. Our ongoing mission is to clarify the impact of legal and insurance industry changes and share insights from credible guests. If you’re seeking fresh perspectives and actionable information on insurance, legal news, and consumer protection, you won’t want to miss this season.

Takeaway List:

• The podcast is changing its format to cover broader topics beyond just insurance.

• Litigation financing is destabilizing the insurance sector.

• Howden is making significant moves in the insurance brokerage space.

• Third-party litigation funding is a growing concern in the legal industry.

• Judy Seberger is advocating for transparency in litigation funding.

• The SF-2929 bill aims to protect consumers from predatory practices.

• Insurance premiums are affected by rising litigation costs.

• State legislation on litigation funding is evolving, with few states having robust laws.

• Social inflation is fueled by third-party funding in lawsuits.

• Industry experts like Chubb’s CEO are calling for ethical and systemic reforms.

• The podcast will feature more interviews with industry leaders and policymakers.

• Listeners can expect a mix of breaking news, analysis, and practical advice.

Chapters:

00:00 Welcome Back and Summer Adventures

05:27 Changes in the Podcast Format

06:52 Current Events and Legal News

13:54 Insurance Industry Developments

16:28 Deep Dive into Litigation Funding

26:23 Interview with Judy Seberger

56:05 Wrap-Up and Future Discussions

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Guest: Judy Seberger

LinkedIn: Judy Seberger's LinkedIn Profile

linkedin.com/in/judy-seberger

Judy Seberger, State Senator, Minnesota Senate Official Page: senate.mn/members/member_bio.html?mem_id=1248

Email: [email protected]

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/

Brandon Schuh and Nick Hartman dive into a mix of engaging topics, starting with some personal anecdotes about their recent travels and experiences with Airbnb. Brandon shares a cautionary tale about a less-than-ideal stay that underscores the importance of customer service in the hospitality industry. He highlights how Airbnb's support helped resolve his issue, showcasing the platform's commitment to customer satisfaction. Meanwhile, the duo engages in a light-hearted wine tasting segment, discussing their selections and offering humorous critiques.

Shifting gears, the conversation turns to the insurance industry, where significant challenges are unfolding. The hosts discuss the financial performance of AIG and Travelers, particularly in light of natural disasters that have led to substantial losses for major carriers. They reflect on Federal Reserve Chair Jerome Powell's recent remarks regarding the intersection of insurance and housing finance, emphasizing the growing difficulties in obtaining mortgages in disaster-prone areas as insurers retreat from high-risk markets. This discussion sets the stage for a broader examination of how these trends are reshaping the insurance landscape.

The episode also touches on broker consolidation trends and recruitment challenges within the insurance sector. As insurtech companies continue to innovate and offer new solutions, the hosts contemplate the future of traditional insurance models. They conclude with cultural commentary on events like the Super Bowl and their impact on public sentiment and marketing strategies, reminding listeners of the importance of consumer safety in light of recent product recalls.

Key Takeaways:

• Brokers should focus on their core competencies rather than billing.

• Personal experiences can highlight the importance of customer service in hospitality.

• Airbnb's support can be crucial in resolving disputes.

• Wine ratings can be subjective and vary between individuals.

• The future of Tesla may be uncertain due to market dynamics.

• Insurance companies are retreating from high-risk markets.

• Natural disasters are impacting the financial performance of insurance companies.

• AIG's recent earnings reflect the challenges of underwriting in a volatile environment.

• The insurance industry is undergoing significant shifts in response to market pressures.

• California wildfires have led to substantial losses for major insurance carriers.

• The insurance industry is experiencing a slowdown in mergers and acquisitions.

• Recruitment in the insurance sector is becoming increasingly competitive.

• Insurtech companies are actively seeking to innovate and provide solutions.

Chapters:

00:00 Post-Trip Reflections and Client Experiences

03:02 Airbnb Experience: A Cautionary Tale

06:46 Wine Tasting and Ratings

10:06 Elon Musk and the Future of Tesla

13:09 Insurance Industry Shifts and Challenges

18:27 AIG's Financial Performance and Natural Disasters

20:16 Leadership Changes at AIG

21:11 AIG's Historical Context and Current Position

22:35 Impact of California Wildfires on Insurance Companies

24:11 Foreign Ownership in China's Insurance Market

26:30 Broker Consolidation Trends

28:03 Recruitment and Talent Acquisition in Insurance

30:51 Market Outlook and Insurtech Innovations

32:49 Cultural Commentary: Super Bowl and Entertainment

36:48 Product Recalls and Consumer Safety

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:LinkedIn: https://www.linkedin.com/in/nickjhartmann/ 

In this fascinating discussion with Sean Flood from Ride Today we chat about his journey in the ever-evolving world of mobility, from his early days in electric rideshare to his current ventures in Ireland. It's always interesting to hear how entrepreneurs navigate the ups and downs of an industry, especially one as dynamic as micro mobility. Sean's insights on hardware sales and subscription models really highlight the innovative spirit driving the sector forward.

One of the key themes we explore is the impact of tariffs on the mobility industry. Sean brings a grounded perspective, emphasizing how tariffs can drive inflation and affect pricing. It's not just about the political side of things; it's about the real-world consequences for businesses and consumers. We also delve into the evolution of micro mobility, from the early days of scooter dumping to a more strategic and community-integrated approach. It seems like the industry is finally finding its footing, with less public resistance and more focus on sustainable growth.

Looking ahead, we get into the exciting possibilities of robotics and even personal aerial transportation. It's wild to think about the future of mobility extending beyond traditional vehicles to include delivery bots and maybe even personal bubble devices. Sean's vision really paints a picture of how innovation and technology could transform the way we move goods and services. It's clear that the definition of mobility is expanding, and the potential for growth is immense.

Takeaways

*   Ascend automates premium financing and collections.

*   Sean Flood has a long history in micro mobility.

*   The move to Ireland was prompted by a family decision.

*   New ventures in mobility focus on hardware sales and subscriptions.

*   Tariffs can drive inflation and impact pricing in the mobility sector.

*   Micro mobility is evolving with less public resistance.

*   Innovation in mobility is expected to grow significantly.

*   The definition of mobility is expanding to include goods transportation.

*   Personal aerial transportation could be a future reality.

*   Stability is crucial for entrepreneurs in the mobility space.

*   Litigation has significantly increased post-COVID, making it challenging to analyze trends.

*   Battery safety regulations are becoming crucial due to the rise in fires caused by unsafe products.

Chapters

*   00:00 Revolutionizing Payments in Insurance

*   01:19 Sean Flood's Journey in Micro Mobility

*   02:42 Transitioning to Ireland and New Ventures

*   04:03 The Future of Mobility: Strategies and Innovations

*   06:00 Impact of Tariffs on the Mobility Industry

*   14:04 The Evolution of Micro Mobility

*   18:21 The Future of Mobility: Robotics and Aerial Transportation

*   21:11 Litigation Trends Post-COVID

*   24:53 The Impact of Battery Safety Regulations

*   26:10 Wine and Risk: A Personal Touch

*   30:11 Navigating Tariffs and Trade Relations

*   34:24 AI and the Future of Jobs

*   38:09 Sovereign Wealth Funds: A New Frontier?

*   44:01 Product Recalls and Consumer Safety

Connect with RiskCellar:

Website:https://www.riskcellar.com/

Sean Flood:

Ride Today Linkedin:https://www.linkedin.com/company/ridetoday/?originalSubdomain=ie

Brandon Schuh:

Facebook:https://www.facebook.com/profile.php?id=61552710523314

LinkedIn:https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram:https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn:https://www.linkedin.com/in/nickjhartmann/ 

In the latest episode of Risk Seller, hosts Brandon and Nick emphasize the **growing necessity for private security** in light of alarming incidents, notably the assassination of United Healthcare CEO Brian Thompson. This tragic event has triggered a reevaluation of security protocols for executives, highlighting that many high-profile leaders often travel without adequate protection. The discussion reveals that while some executives may decline security details, this decision can lead to significant risks, underscoring the need for companies to prioritize protective measures amidst rising threats from both physical and cyber domains.

The conversation also delves into the **MGM data breach settlement**, where the company agreed to pay $45 million following two major cyberattacks that compromised sensitive information of approximately 37 million customers. This case illustrates the broader implications of cybersecurity in corporate governance, as companies face increasing pressure to safeguard data and respond effectively to breaches. The hosts discuss how such incidents can lead to heightened awareness and knee-jerk reactions regarding security investments, particularly during economic downturns when budgets for these measures are often slashed.

Additionally, the episode introduces innovative solutions like the **Shadow app**, designed to connect consumers with security providers efficiently. This reflects a trend towards leveraging technology to enhance safety measures in a rapidly evolving landscape where social engineering and human factors significantly contribute to security vulnerabilities. The hosts argue that understanding these dynamics is crucial for preventing future tragedies and ensuring that safety and security are recognized as essential investments rather than mere costs.

Takeaways

Sources:

Time Stamps

00:00 Introduction to Risk Seller and Guest Introduction

10:46 The Importance of Private Security

23:10 Response to Security Incidents and Best Practices

24:41 The Value of Safety and Security

25:39 Understanding Social Engineering in Security

30:13 Human Factors in Security Risks

32:13 The Evolution of Security Solutions

34:06 Introducing Shadow: The Uber of Security

36:15 Global Expansion and Market Strategy

37:58 Building a Marketplace for Security Products

39:25 Humor in Fraud Cases

44:25 Fitbit's Recall and Consumer Safety

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/