The Voices of Risk Management – Details, episodes & analysis

Get a sneak peek into the world of risk management in higher education with Craig McAllister, the Assistant Vice President of Risk Management at the University of Miami and President of the University Risk Management and Insurance Association (URMIA). With over 25 years of experience in the field, including a significant tenure at Cornell University, Craig brings a wealth of knowledge and a unique perspective to managing risks in academic settings. In this episode, Craig discusses the dynamic challenges of his role, from enhancing campus safety while respecting free speech to mobilizing community leaders in risk mitigation efforts. He also shares insights into his responsibilities overseeing the University's comprehensive risk programs and his leadership at URMIA.

Key Takeaways:

• A little bit about Craig and his work at the University of Miami.

• Craig loved that there was always something different to do when he got into this field.

• Being part of a bigger purpose keeps Craig energized. It's exciting to support the mission, the research, and the clinical care at University of Miami, and making things happen through the lens of risk.

• How does Craig think about risk when working at a University?

• What are some of the challenges Craig has faced lately?

• How does Craig manage risk on campus while also protecting people's free speech?

• How does Craig mobilize community leaders and help them think about risk mitigation?

• Every four years, Craig has to remind new students of the rules and policies, which helps you remember the basics.

• How do communication and public relations come into play?

• Craig talks about his role at URMIA.

• What advice does Craig have for professionals looking to get into risk management within academia?

• A shoutout to URMIA and their commitment to education.

Mentioned in This Episode:

University of Miami

Craig on LinkedIn

Michael Levine is a partner in Hunton Andrews Kurth LLP's Washington, DC office and a leader of the Firm's Insurance Recovery Practice. He offers insights into the legal side of the risk management space and the important role that attorneys play in creating a system of checks and balances in the insurance space and offers insights from his experience to young professionals considering a career at the intersection of insurance and law.

Key Takeaways:

• Michael shares insights into his work at Hunton Andrews Kurth.

• Being an attorney who practiced in insurance was not a childhood dream of Michael's.

• After becoming an attorney, the decision to specialize in insurance coverage was an easy one.

• Michael has practiced both in favor of the policyholder as well as on the carrier side.

• What were Michael's reasons for switching back and forth between the policyholder and carrier sides multiple times?

• The biggest misconceptions about the motives and actions of attorneys in the insurance space.

• What does it really mean if a lawyer gets involved in a claims case?

• The real reason Michael uses the term "policyholder" instead of "insured."

• Attorneys are in place to provide a healthy system of checks and balances within the insurance industry.

• Maximizing insurance recoveries means giving policyholders everything they're entitled to.

• When is the right time to get an attorney involved in insurance policies?

• Once counsel gets involved, whether the broker has done their job makes all the difference in the outcome of the claim.

• Michael's opinion on the high percentage of insurance payouts that ends up in attorney's pockets.

• Acquiring new clients through marketing and networking, because repeat business is not good business in policyholder litigation.

• Michael reveals the biggest lessons learned from his years of practicing law in the insurance space.

• Tips for picking up the technical language of the insurance world.

• It's all meaningful; Michael's advice for finding the issues that mean something to you and righting a wrong.

Mentioned in This Episode:

RIMS — San Diego Event

Michael on LinkedIn

Hunton Andrews Kurth

Yan Veytsman is a Senior Account Executive at Marsh, specializing in risk management for large-scale projects, particularly within the renewable energy sector. Yan has successfully placed multiple construction and operational insurance policies for projects exceeding $100 million. His expertise shines in navigating the complex risks associated with natural catastrophes and developing innovative insurance solutions for the burgeoning renewable energy industry. In this episode, Yan discusses the intricacies of managing risks in the renewable energy sector, and why it's slightly more difficult than traditional tried-and-true industries.

We also have Senior Vice President of Power & Renewables, Fred Wass, make a special guest appearance. Fred has been involved in the energy sector for the last 39 years and currently oversees Marsh's Energy Practice. In his segment, he offers some insight into the energy sector as a relatively new insurance professional himself.

Key Takeaways:

• A little bit about Yan and how he found his path in risk management.

• What interests Yan about renewable energy?

• Renewable energy is an industry that's still developing, so Yan has some room to innovate and define a new model for how to run some of his accounts.

• Why can't we use other models in different industries and put them in the renewable space? Why is it so different?

• With every single venture that Yan's been involved in, he's having to figure it out from scratch. There are too many variables to consider that don't quite transfer over from the old tried-and-true models from well-established industries.

• How has the oil and gas industry been adapting to the renewable energy sector?

• Does it still make sense to invest in oil and gas?

• Katie introduces a new guest, Fred Wass.

• How did Fred get into this field and why has he stayed for the last 39 years?

• Fred developed power plants in Pakistan early in his career, but he fell into the insurance industry about 10 years ago.

• Fred believes it's a lot easier today to talk to people within your industry and company than it was five years ago.

• Fred is excited for the future! There's so much to do and there's a lot more to come in the next 10 years.

Mentioned in This Episode:

Marsh.com

Yan on LinkedIn

Fred on LinkedIn

2024 Energy Industry Conference

Jen Aitchison is the President of Renewable Risk Consulting Inc. With over 15 years of dedicated experience, Jen has become an award-winning leader known for her deep understanding of renewable energy risks and her ability to create transparent, economically viable insurance solutions. In this episode, Jen delves into the nuances of renewable energy insurance and the importance of education and adaptation in the sector and she offers her unique perspective on the future of energy and insurance for those still in college.

Key Takeaways:

• This episode was recorded at Marsh's 2024 North American Energy Industry Conference!

• A big shout out to Michael Kolodner and his amazing leadership.

• Everybody backs clean energy, but sometimes there is a sense of distrust about the "correct" way. Why is that?

• We will need all types of energy for us to succeed in making it renewable energy.

• Coal energy is dirty. We all agree it should be reduced, including the coal miners! But then it stops becoming a conversation of energy and a conversation of education and re-employment.

• The average person is not aware of how many different facets of insurance exist.

• People think insurance is repetitive and boring. We as an industry need to get better at showing interesting and live case studies.

• Pick whatever industry your children want to go into and there's an insurance claim that needs to be filed or underwritten within that industry.

• If you're looking for stable employment, the insurance industry will never go through a "recession." 

• What advice does Jen give to younger college students who aren't sure what they want to do with their life?

• Love sports? Love to travel? You can become an insurance underwriter for the sports industry. There are so many avenues you can go.

• Why is Jen so interested in sustainability?

• 16 years later, Jen still finds the work she does engaging, impactful, and important!

Mentioned in This Episode:

Marsh.com

Renewableriskconsulting.ca

Jen on LinkedIn

Marsh's 2024 North American Energy Industry Conference

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Join us as we sit down with Miles Braxton, the Director of Risk Management at Summit Ridge Energy, at the Energy Industry Conference in Houston, Texas. In this episode, Miles discusses the unique aspects of community solar, the importance of diversity in the clean energy industry, and his role in co-founding the Black Oak Collective.

Key Takeaways:

• A little bit about Miles and his role at Summit Ridge Energy.

• What is community solar?

• It's Miles's mission to provide cheaper electricity directly to residents, especially in underserved communities.

• Miles always knew he wanted to get involved with energy. He credits his high-school math teacher for the inspiration.

• How did Miles transition from working on anaerobic digestion projects to focusing on solar energy?

• Miles decided to join Summit Ridge Energy for a more community-impactful role and he loved the company's mission.

• What is the Society of Black Solar Professionals?

• What was the inspiration for co-founding the Black Oak Collective?

• Miles shares how he created strategic partnerships and relationships in his career and the impact of certain team members in propelling the Black Oak Collective.

• This generation is creating a shift in company culture because they are approaching careers from a passion-driven mindset.

• Miles shares the story behind his favorite colorful drink and the importance of shared experiences in building relationships.

• What is the Green Gateways program by Black Oak Collective?

Mentioned in This Episode:

Srenergy.com

Blackoakcollective.org

Miles on LinkedIn

2024 Energy Industry Conference

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Michael Kolodner is the Global Renewable Energy and US Power leader at Marsh. In this episode, Michael shares insights from Marsh's 2024 North America Energy Industry Conference. He highlights the importance of creating a collaborative space for stakeholders across the energy sector. He emphasizes the critical talent gap in the industry, the innovative approach of bringing diverse voices together, and the future of clean energy sources like geothermal.

The episode also features a dynamic conversation with Elisa Cardenda and Andrea Yanez, two ambitious students from the University of Houston, who share their journey into the world of risk management and energy. They shed light on the evolving perceptions and opportunities within the industry from a young perspective.

Key Takeaways:

• A little bit about Michael and his work at Marsh.

• Michael shares his approach to risk in the energy and power sector.

• When attending any industry conference, it's important to facilitate meaningful dialogue without a sales agenda.

• What are Michael's thoughts on talent acquisition and how to recruit new blood into the energy sector?

• Michael shares insights gained from attending and analyzing energy industry conferences globally, particularly in Dubai and Australia, and how it shapes his leadership style and vision.

• Michael admires how young professionals today seem to be more proactive than ever to advance their careers and seek support.

• This business is incredibly fun and rewarding; however, the majority of people just don't know it exists.

• The barriers to entry into the risk industry are not that high. So many people have fallen into it and stayed. Law professionals aren't able to say the same thing.

• Two undergraduates join the podcast to talk about their learning experience and journey into risk management.

• Elisa and Andrea share their initial misconceptions about the industry and how their exposure to the conference and educational programs changed their perceptions.

• What are Elisa and Andrea's thoughts on the Middle East and how they manage their power sector?

• What makes energy so interesting and exciting for these two students?

• The discussion on the diversity of the energy sector, the various career paths within it, and the evolving landscape of opportunities is an incredibly exciting space to be in.

• There are no two days that are the same. You get to learn something new every day.

Mentioned in This Episode:

Marsh.com

Michael on LinkedIn

2024 Energy Industry Conference

Join Sarah Sherman, Managing Director at NFP, as she dives into the intricate world of risk management within the fusion industry. This episode sheds light on the importance of working closely with clients, the requirements for industry-specific knowledge in managing risks, and the value of clear communication and honesty in building professional credibility. Sarah discusses her journey into risk and insurance, her pivotal role in The Wattles Fellowship, and her unique position in outsource risk management at Commonwealth Fusion Systems.

Key Takeaways:

• A little bit about Sarah and her work at NFP.

• How did Sarah get into risk and insurance?

• How did Sarah first get involved with The Wattles Fellowship?

• Sarah explains her role as an outsource risk management in the fusion industry.

• Sarah shares why she feels very integrated at Commonwealth Fusion Systems, even though it's a client of NFP.

• It's quite common for the client or third-party company to want to continue working with an insurance provider and have them brought on full-time/in-house at their company.

• If you do a good job, people will want you, no matter what!

• How much do you need to know about fusion systems to accurately calculate and manage the risk?

• Sarah's top industry secret is understanding who she needs to get involved in critical conversations early on. This way, her real risk expertise can shine through and the more senior fusion experts can provide guidance and support.

• Sarah breaks down how she thinks about risk and mitigates risk.

• Do not underestimate the power of picking up the phone and talking to people! Text and email are slow and can be misinterpreted.

• Don't be afraid to say, "I Don't Know." It builds credibility as you seek to find the right and honest answer.

• Are there groups and communities for risk professionals within the fusion industry?

Mentioned in This Episode:

Nfp.com

Cfs.energy

Wattlesfellowship.com

Sarah on LinkedIn

Scott Addis, the Founder of Beyond Insurance and a recognized innovator in the insurance industry, shares his multifaceted journey from sports psychology to becoming a key figure in risk management. In this episode, Scott delves into his unique approach to risk management, the importance of active listening and honest communication in understanding client needs, and he discusses his five-step risk management process. He also shares his method for becoming "rejection-proof" when building new relationships with prospects.

Key Takeaways:

• A little bit about Scott and his role at Beyond Insurance.

• How did Scott go from Sports Psychology to Insurance?

• What is learned helplessness?

• Scott shares his five-step risk management process.

• When it comes to risk management, it helps to think about the process in medical terms.

• If a doctor tries to treat a patient without ever talking to them, or laying out a proper diagnostic/treatment plan, that would be called malpractice!

• People like to tell others what they think they want to hear. How does Scott get around that to hear the truth?

• It's important to conduct employee interviews and take those honest findings back to management.

• Active listening is critical to fully understand the true problem at hand.

• What do you do when customers only care about price? Scott breaks down how to showcase your value without budging on the price point through his PRICE acronym.

• We're living in a world with huge risk uncertainty. We need to band together and educate as many risk professionals as possible. Knowledge is power!

• No matter our industry, we can add so much value as risk professionals. Do not underestimate your knowledge and skill set.

• Scott shares a time he had to overcome an adversity/challenge in his career.

• Scott had to take a hard look at his flaws and figure out how to use them as strengths.

• Scott shares how he becomes "rejection-proof" by setting up prospect/sales calls with the right frame of mind.

• You have an obligation to yourself and your community to assess the degree of relationship with the agent or broker, and do they put value on how you create value?

• What advice does Scott have for people who are newly coming into the industry?

Mentioned in This Episode:

Beyondinsurance.com

Scott's Bio

Scott on LinkedIn

Christopher Holmes, co-founder of RiskVersity, brings over 15 years of risk management expertise to the forefront of the insurance industry. In this episode, Christopher shares his journey from being an intern at Arthur J. Gallagher & Co. to becoming the CEO of RiskVersity, a company dedicated to changing the insurance landscape by creating opportunities for minorities. He discusses the unique challenges and progress in diversity within the industry, his commitment to fostering an inclusive environment, and his vision for the future.

Key Takeaways:

• A little bit about Chris and his role at RiskVersity.

• How did Chris come up with the name RiskVersity?

• How did Chris get into insurance? It certainly wasn't on his vision board!

• Chris recently went through a physical transformation and shares some of his secrets to keeping fit.

• Chris's motivation to stay healthy stems from his son as well as his father, whom he lost when he was 13.

• When Chris got his start as an intern at Arthur J. Gallagher & Co., what was that experience like?

• Chris didn't want to make a bunch of money and just be miserable in his position. He needed joy and passion in whatever career field he was in.

• How did Chris transition to Wells Fargo?

• Chris was the Vice President of the Corporate Diversity board at Wells Fargo. Chris shares the type of conversations they were having back then.

• There's been a lot of progress that's been made in the last 15 years, and Chris educates his son on how much work and how far so many minorities have come.

• Chris gives an example that he heard about a lynching in 2002 near his hometown in South Carolina. There's progress, but there's still deep racism and we can't forget that.

• Have things gotten better in the insurance industry when it comes to diversity and making it more friendly for future generations?

• It's so hard to be yourself when you're the only one in the room. You are very conscious about avoiding becoming a "beacon" of a certain stereotype.

• Chris is also a marriage counselor, what made him pursue this certification?

• If you really love your partner, you have to go to the gym to maintain a happy and healthy relationship. So many of us, though, don't even know what types of weights to lift to achieve that.

• Chris talks about Legacy Investment Funds, an initiative that helps African Americans discover and pool their capital to reach better investment opportunities.

Mentioned in This Episode:

Riskversity.com

Chris on LinkedIn

Jeff Gurtcheff is the Chief Claims Officer at CorVel and brings a unique blend of passion, collaboration, and extensive experience in worker's compensation, liability, and property claims. In this episode, Jeff shares his insights on the evolving role of insurance adjusters, the importance of mentorship, and the art of reading policies and people. Jeff also discusses how his experiences in team sports have enriched his professional life in insurance.

Key Takeaways:

• A little bit about Jeff and his role at CorVel.

• Jeff had no clue what an insurance adjuster did. He had to go to the library to look it up.

• Knowing what Jeff knows now, he shares what he'd do slightly differently before joining insurance.

• Prior to joining insurance, Jeff was a baseball player in college.

• Jeff feels so fortunate that he had great mentors during his diverse career in insurance.

• Although reading insurance policies is a big part of what an insurance adjuster does, the other side is the ability to read people.

• Through the lessons Jeff's learned in baseball and team dynamics, it's helped his career greatly in insurance and working with a wide range of people.

• Jeff has noticed common myths about the insurance industry are (thankfully) disappearing. In insurance, we really want to take care of our customers and the people we serve.

• How is Jeff thinking about AI and incorporating it into what he does today?

• Where can people go to learn more about AI?

• The world changes and so does technology. We shouldn't be quick to discard something that's up and coming.

• What kind of challenges or adversity has Jeff had to face, thus far?

• What advice would Jeff give to others looking to create a career in insurance?

• Jeff gives a shout-out to one of his mentors, Dave Kelly. What a wonderful and patient teacher!

Mentioned in This Episode:

Corvel.com

Jeff on LinkedIn