Private Client Risk & Resilience

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Join Kurt Thoennessen, CAPI to learn about the risks that successful individuals and families face today. He will discuss risk management strategies to prevent losses and ideas to help you be more resilient to losses when they occur. He will explore everything from the risks to property, such as ho…

Kurt Thoennessen, CAPI


    • Jan 7, 2025 LATEST EPISODE
    • every other week NEW EPISODES
    • 36m AVG DURATION
    • 38 EPISODES


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    Latest episodes from Private Client Risk & Resilience

    Fine Art Claims Conversation with Brooke Mellen of Markel Insurance

    Play Episode Listen Later Jan 7, 2025 34:42


    Brooke Mellen Executive Claims SpecialistBrooke.Mellen@Markel.com

    Technology Conversation from The BIG I Connect CT 125th Anniversary Conference with - Casey Nelson, Director of Consulting Services, Catalyit, LLC

    Play Episode Listen Later Nov 21, 2024 8:22


    Exotic Car Conversation from The BIG I Connect CT 125th Anniversary Conference with- Kieran Buttrick, CT Territory Manager with Hagerty

    Play Episode Listen Later Nov 8, 2024 10:28


    Risk Conversations from The Private Risk Management Association Summit 2024 - Martin Hayek of Namara Water Technologies Inc.

    Play Episode Listen Later Nov 1, 2024 10:08


    Risk Conversations: The Private Risk Management Association Summit 2024 - with Jack McCall of Lindsey FireSense

    Play Episode Listen Later Oct 25, 2024 20:13


    Conversations: The Private Risk Management Association Summit 2024 with David Shapiro of David Shapiro Fine Art Appraisers

    Play Episode Listen Later Oct 24, 2024 17:20


    Solving the 98% Cyber Problem for HNW Individuals and Families with HardTarget

    Play Episode Listen Later Jul 23, 2024 42:47 Transcription Available


    According to some sources, social engineering is used in 98% of cyber attacks, while others say it's involved in 70–90% of successful attacks. Social engineering is a critical part of an attack that uses manipulation or tricks to coerce victims into sharing sensitive information. Attackers may pretend to be a known person or legitimate entity, or use other tactics like impersonating a brand, using current events, or offering something the victim wants or needs. Social engineering can occur through email, phone, face-to-face, or the web.In this episode of the Private Client Risk & Resilience podcast Kurt Thoennessen begins with introductions of the guests, Bill Roth and Anwar Visram, who share their extensive backgrounds in entrepreneurship and cybersecurity, respectively. Anwar emphasizes his experience in building cyber defense plans for high net worth families, while Bill highlights his expertise in visual thinking and experience design.Kurt and his guests delve into the complexities of cybersecurity for affluent families, discussing the growing threat landscape and the importance of proactive risk management. They highlight the need for high net worth families to adopt comprehensive cybersecurity strategies, which include regular education, simulation exercises, and clear rules of engagement. The conversation also touches on the unique challenges faced by high net worth individuals, such as the increasing attack surface due to multiple generations and the involvement of numerous advisors and staff.Highlights:Proactive Cyber Defense:Emphasis on creating cyber defense plans tailored to high net worth families.Importance of regular education and simulation exercises to prepare families for potential cyber threats.Human-Centered Approach:Cybersecurity as a human-centered problem, integrating technology and focusing on the human element.Social engineering and human error account for 98% of cybersecurity issues.Innovative Solutions:Hard Target's approach to cybersecurity through gamification and tabletop exercises.Development of mental models for cybersecurity similar to playing a board game, enhancing understanding and retention.Real-World Scenarios:Anwar shares examples of cyber threats, including virtual kidnapping and social media exploitation.Importance of creating a family cyber committee to enforce governance and rules of engagement.Emotional Resilience:Focus on building emotional and relational resilience within families to handle cyber threats.Preparing families for the emotional impact of cyber incidents.Cyber Literacy for All:Vision of expanding cybersecurity awareness and education beyond high net worth families to the broader public.Importance of cyber preparedness in reducing vulnerabilities and making everyone a hard target.Conclusion: Bill Roth and Anwar Visram provide valuable insights into the evolving landscape of cybersecurity for high net worth families. Their innovative approach, combining human-centered strategies with advanced training methods, offers a comprehensive solution to protect against the growing threat of cyber attacks.Thank You and Resources: A heartfelt thank you to Bill Roth and Anwar Visram for sharing their expertise and experiences. For more information about Hard Target, visit hardtarget.ai. Connect with Bill and Anwar on LinkedIn to stay updated on their latest content and initiatives.Thank you for listening to this episode of the Private Client Risk & Resilience podcast. Stay tuned for future episodes as we continue to explore innovative solutions for protecting high net worth individuals and their families.

    Fine Art and Collectibles Insurance Insights and Risk Management Strategies with Ron Fiamma, President of Treadwell

    Play Episode Listen Later Jun 4, 2024 46:53 Transcription Available


    In this episode of the Private Client Risk & Resilience podcast, host Kurt Thoennessen, a high net worth insurance specialist and CEO of RiskRevu, is joined by Ron Fiamma, President of Treadwell Fine Art, an insurance carrier specializing in high value fine art and collectibles insurance. The discussion dives deep into the world of high net worth insurance, exploring the risks, challenges, and opportunities associated with protecting valuable collections.Summary: The episode begins with Ron Fiamma sharing his unconventional journey into the insurance industry, starting from his early career on Wall Street to his eventual transition into fine art and high value collectibles insurance. He highlights his experiences at AIG Private Client Group and the entrepreneurial spirit that led him to co-found Treadwell. Throughout the conversation, Ron emphasizes the importance of understanding and managing the unique risks associated with high value collections, from fine art to couture and collector automobiles.The discussion covers a range of topics, including the critical role of proactive risk management, the challenges of aggregation in high-risk areas, and the development of specialized insurance products to meet the needs of affluent clients. Ron also shares insights into the vetting process for vendors and the importance of maintaining up-to-date inventory systems for valuable collections.Highlights:Ron Fiamma's Career Journey:Started on Wall Street and transitioned to insurance.Played a key role in AIG's Private Client Group and later founded Treadwell.Emphasized the entrepreneurial spirit driving his career decisions.Proactive Risk Management:Importance of detailed information for underwriting high value collections.Training brokers to gather comprehensive data about clients' collections.Emphasizing the need for up-to-date inventory systems for clients.Aggregation Challenges:Impact of high-value aggregations in areas like South Florida and California.Issues arising from clients' growing collections and increasing asset values.Strategies to manage and mitigate aggregation risks in high-net-worth insurance.Development of Specialized Products:Launch of couture insurance for high-value fashion collections.On-track motorsports insurance for clients with valuable car collections.Importance of creativity and flexibility in developing new insurance products.Vendor Vetting and Client Support:Rigorous vetting process for vendors to ensure high standards.Providing clients with trusted referrals for various services.Importance of helping clients protect their valuable assets through expert advice.Conclusion: Ron Fiamma's extensive experience and insights into the high-net-worth insurance space provided a wealth of knowledge for listeners. His emphasis on proactive risk management, innovative product development, and the importance of client relationships highlighted the complexities and opportunities within this niche market.Thank You and Resources: A heartfelt thank you to Ron Fiamma for sharing his expertise and experiences. For more information about Treadwell Fine Art, visit Treadwell.co. Additional resources and vendor recommendations can be obtained by reaching out to Ron directly at rfiamma@treadwell.co.Thank you for listening, and stay tuned for future episodes exploring new and innovative approaches to risk management for high-net-worth clients.

    Insights on Art Advisory and Art Valuation with David Shapiro of David Shapiro Fine Art

    Play Episode Listen Later Apr 28, 2024 28:03


    Kurt Thoennessen, CAPI and David Shapiro of David Shapiro Fine Art discussed the intricacies of art valuations and investments, emphasizing the importance of accurate appraisals and navigating the complex art market. Thoennessen highlighted the role of technology in streamlining the appraisal process, while Shapiro shared his expertise as an art appraiser and advisor. Later, Thoennessen and Shapiro discussed building art collections, understanding the market, and navigating the complex art market. They emphasized the importance of following USPAP standards, charging differently for services, and evaluating the best market for selling art. Thoennessen and Shapiro also discussed the role of art advisors in guiding clients through the market and providing comprehensive understanding of the market.Website - Davidshapirofineart.com

    Hard Market Insights and The Mission of the CIPC with Richard Kerr, CEO of Novatae and CIPC Founder

    Play Episode Listen Later Feb 29, 2024 29:06 Transcription Available


    In this episode, Kurt Thoennessen, CAPI, Founder and CEO of RiskRevu, discusses with Richard Kerr, CEO of Novatae, various challenges and solutions within the high net worth insurance space. Topics range from overcoming the hard market, networking strategies, the significance of quality submissions to underwriters, and the importance of specialization in the insurance industry. Kerr also delves into the foundation and goals of the Council for Insuring Private Clients (CIPC) and shares insights on the upcoming conference.Highlights:Challenges in High Net Worth Insurance Space: Discusses specific regional insurance challenges like finding hurricane coverage in Florida and fire coverage in California.Networking and Support: Emphasizes the importance of reaching out and networking within the industry, particularly through organizations like CIPC.Novatae's Strategy: Kerr details Novatae's approach in the insurance market, focusing on acquisitions and service improvement.Importance of Quality Submissions: Kerr stresses the need for agents to provide underwriters with clear and complete submissions to secure capacity.Council for Insuring Private Clients (CIPC): Discussion on the foundation and objectives of CIPC, highlighting its role in education, advocacy, and networking for insurance professionals.Upcoming Conference Details: The conference takes place May 1 and 2 in Dallas, TX at the Warwick hotel. Key themes include artificial intelligence in the high net worth space, capacity finding strategies, and building effective teams in the high net worth sector.Professional Development: Highlights the Certified Personal Risk Manager (CPRM) designation and its benefits for professionals in the industry.For more information or to register for the CIPC conference, visit the Council for Insuring Private Clients website: https://privateclientcouncil.com/. For more details about Novatae, visit their website: https://novatae.com/.For more details about the CPRM designation visit: https://www.scic.com/programs/cprm/

    Flood Risk and Insurance Solutions with Joe Rossi of Joe Flood Insurance

    Play Episode Listen Later Jan 30, 2024 27:01 Transcription Available


    In this enlightening episode of the "Private Client Risk & Resilience" podcast, host Kurt Thoennessen, CEO of RiskRevu, is joined by Joe Rossi, the CEO of Joe Flood Insurance Brokerage. They delve into the intricate world of flood insurance, highlighting the unique challenges and solutions facing owners of high value properties.Key Highlights:Joe Flood's Background: Discover Joe's journey from community activism to leading a flood-only insurance brokerage, advocating for more affordable insurance rates.Unveiling Asset Risks: Kurt explores the significant risks faced by successful people through their assets and lifestyle, emphasizing the complexity of protecting large assets.Innovative Insurance Solutions: Joe Flood shares insights on creating custom insurance solutions for high-value properties, addressing the gap in traditional flood insurance offerings.Market Evolution: Engage in a discussion about the evolving landscape of flood insurance, driven by increasing catastrophic events and new market entrants.Regulatory Insights: Gain clarity on the regulation in surplus lines and MGA operations, debunking common misconceptions about non-admitted markets.Behind-the-Scenes Processes: Uncover the detailed process of risk modeling and underwriting used by Joe Flood Insurance, demonstrating their commitment to tailored insurance solutions.Partnership and Growth Opportunities: Learn how to engage with Joe Flood Insurance for both insurance quotes and professional partnerships, fostering a collaborative environment in the insurance industry.Whether you're an insurance agent seeking to refine your skills or someone looking to protect substantial wealth, this episode is packed with valuable insights and innovative strategies for navigating the complexities of flood risk insurance.Resources:https://www.joefloodinsurance.com/

    UK Private Client Insurance Landscape and the Value of International Networking with Giles Greenfield, CEO of Markham Private Client

    Play Episode Listen Later Dec 3, 2023 39:31 Transcription Available


    In the latest episode of "Private Client Risk & Resilience," Kurt Thoennessen, CAPI, a Personal Risk Advisor at Ericson Insurance Advisors and CEO of RiskRevu, sat down with Giles Greenfield, CEO of Markham Private Client, for an in-depth exploration of the private client insurance market across the UK and the US.Thoennessen kicked off the episode by introducing himself and expressing his enthusiasm about having Giles Greenfield as a guest, someone he met at the Private Risk Management Association Summit.The conversation quickly delved into the nitty-gritty of the UK's private client insurance landscape. Greenfield provided valuable insights, drawing parallels and disparities between the UK and US markets. They discussed how international relationships among UK and US brokers significantly streamline communication, trust levels, and improve insurance program design for high net worth and ultra high net worth clients with properties interests in both countries. A major focus of the discussion was the comparison in coverage and underwriting approaches between the two countries. The absence of umbrella liability policies in the UK, as noted by Giles, underscored the UK's less litigious nature compared to its US counterpart.Both Thoennessen and Greenfield addressed pressing concerns brokers face in their respective regions, particularly the challenges surrounding escape of water incidents. These incidents, especially concerning historical or listed properties, were highlighted as significant hurdles for clients and insurers. Overall, this podcast episode offers a comprehensive analysis of the private client insurance market. It not only emphasized the nuances between the UK and US markets but also underscored the pivotal role of international relationships. Furthermore, it shed light on the intricate challenges brokers encounter while addressing distinctive coverage issues in their respective regions.Resources:Markham Private Client - https://markhambrokers.com/What is a listed building article - https://www.mansionglobal.com/library/listed-buildingWondeur AI - https://wondeur.ai/Private Risk Management Association - https://www.privateriskmanagement.org/

    Preparing for Wildfire Risk with Certified Wildfire Mitigation Specialist Mike Thayer

    Play Episode Listen Later Nov 22, 2023 48:44 Transcription Available


    In this information-packed episode, host Kurt Thoennessen and certified wildfire mitigation specialist, Mike Thayer provides invaluable insights on wildfire risks and prevention strategies. As wildfires continue to rise in severity across the Western U.S., homeowners must get prepared.Key topics discussed:The role of wind events in driving large, fast-moving wildfires that rapidly spreadHow extended drought and historical fire suppression have built up fuel loads, contributing to more severe firesWhy ember intrusion, not walls of flames, cause most home ignitions - defensible space is criticalNew standards like the zero to five foot “non-combustible zone” being mandated in CA by 2025 to protect homesThe wildland urban interface expansion in western states lacking CA's wildfire building codesThe impacts of insurance availability and modeling on admitted/non-admitted marketsThe value of wildfire risk education for homeowners that explains the “why” behind mitigationsSpecific home hardening measures (ember-resistant vents, gutter guards, etc.) that make homes insurableAs Mike emphasizes, wildfire readiness education and prevention work must expand outside California to other wildfire-prone states. All homeowners with natural vegetation exposure should proactively mitigate now, before threats grow. Advanced preparation is key to saving homes and making them insurable.Resources:The ibhs website/standards that Mike mentions explains the "why" behind wildfire mitigation recommendations through videos and other content.  - https://ibhs.org/wildfireready/The ArcGIS product showing expansion of homes in the wildland urban interface, with percentage increases by state from 2007-2020. Allows visual hovering over states. - https://storymaps.arcgis.com/stories/6b2050a0ded0498c863ce30d73460c9eThis is an article Mike Thayer read about potential "doomsday" scenarios if a major non-admitted carrier wildfire loss occurred, and the impacts that could have. - https://www.kqed.org/science/1985175/insurance-in-california-is-changing-heres-how-it-may-affect-youThe updated CalFire wildfire hazard severity zone maps that recently came out, designating more high risk WUI areas. - https://www.fire.ca.gov/incidents. All Things Wildfire Podcast - https://allthingswildfire.com/Wildfire Prepared Website - https://wildfireprepared.org/Mike Thayer's linkedin - https://www.linkedin.com/in/michael-thayer-wms/

    Demystifying Trustee Liability Risk and Wealth Transfer Vehicles with Judy Pearson, CEO of Nomadx

    Play Episode Listen Later Oct 31, 2023 45:19 Transcription Available


    In this episode of the Private Client Risk and Resilience podcast, your host Kurt Thoennessen welcomes Judy Pearson from Nomadx, a trusted name in the world of trustee liability insurance. Judy shares her expertise on trustee liability exposure and complex wealth transfer vehicles, shedding light on an increasingly crucial topic in the realm of asset protection and estate planning. As clients seek advice on safeguarding their wealth through trusts and LLCs, Judy delves into the nuances of these structures, their responsibilities, and the fiduciary duties that come with them. You'll gain valuable insights into the need for specialized insurance solutions, the complexities of trustee roles, and the importance of cybersecurity preparedness in the trustee space. Listen in to explore this compelling discussion and discover how to address trustee liability with the right coverage and insights. To learn more about trustee liability and how to get in touch with Judy Pearson, visit the Nomadx website https://www.balanceuw.com/nomadx or reach out to Judy directly via email JPearson@balanceuw.com or by phone (303-917-7776).

    Unraveling Social Inflation and the Hidden Forces Behind Nuclear Verdicts with Chris Schon, Partner at Tyson and Mendes, LLP.

    Play Episode Listen Later Oct 10, 2023 37:18 Transcription Available


    In this episode of the Private Client Risk and Resilience podcast, host Kurt Thoennessen discusses social inflation, nuclear verdicts, and their impact on the private client space. He is joined by special guest Chris Schon, a partner at the law firm Tyson and Mendes in San Diego, California.Chris explains that social inflation refers to factors outside of traditional economic inflation that are causing the costs of insurance to rise. He emphasizes that the number one driver of nuclear verdicts is anger, which often results from anti-corporate sentiment and the perception that big corporations should be held accountable. Factors contributing to social inflation include:Litigation Funding: Private equity firms and investors are funding personal injury cases, allowing them to drag on and increase costs. These funding companies take significant risks, but they receive substantial payouts when cases win.Increased Medical Costs: Some doctors and medical providers treat patients on a lien and charge significantly higher rates for their services when treating personal injury cases compared to regular health insurance rates.Attorney Advertising: Plaintiff attorneys are skilled at publicizing their settlements and verdicts, sharing their strategies and techniques within the plaintiff bar, which creates a more unified approaches to securing higher settlements.The discussion also covers strategies for mitigating nuclear verdicts, including accepting responsibility, personalizing corporate clients or individuals, arguing pain and suffering, and demonstrating empathy to jurors.Towards the end of the episode, they highlight the importance of considering higher policy limits, especially in states and regions with a greater risk of nuclear verdicts.The episode provides valuable insights into the complex factors contributing to social inflation and nuclear verdicts in the private client space and offers practical advice for risk mitigation.Resources:https://www.tysonmendes.com/https://www.tysonmendes.com/attorneys/christopher-schon/https://www.tysonmendes.com/nuclear-verdicts/

    Mastering Family Governance: Navigating Wealth and Legacy with Susan Schoenfeld, CEO of Wealth Legacy Advisors

    Play Episode Listen Later Sep 22, 2023 40:29 Transcription Available


    In this engaging podcast, Kurt Thoennessen, CAPI, the host of the Private Client Risk and Resilience Podcast, invites Susan Schoenfeld, CEO and founder of Wealth Legacy Advisors, to explore the intricate world of family governance and communication within high-net-worth families. Kurt explains his role as a certified advisor in personal insurance, emphasizing the importance of addressing risks and challenges faced by wealthy clients. Susan, a self-proclaimed "recovering attorney" and CPA with an MBA, shares insights about her firm, Wealth Legacy Advisors, and its mission to guide ultra-high-net-worth families in navigating the human aspects of wealth.The discussion delves into the concept of family governance, highlighting its role in shaping how affluent families make decisions, establish structures, and plan for future generations. Susan's real-world examples illustrate the significance of family governance in preventing potential conflicts and chaos as families grow and evolve. She describes various techniques, such as family councils and family assemblies, which provide frameworks for decision-making and representation within wealthy families.The conversation emphasizes the critical role of effective communication in addressing complex issues related to wealth, legacy, and family dynamics. Susan and Kurt explore the challenges faced by affluent families, from raising children in an atmosphere of wealth to navigating philanthropy and addressing concerns about potential heirs' marriages and creditor claims.Throughout the transcript, Susan underscores the value of addressing these "soft issues" in wealth management, demonstrating how caring about clients' holistic well-being fosters lasting relationships. This podcast transcript offers profound insights for advisors, highlighting the importance of focusing on the human aspects of wealth when assisting high-net-worth families in building legacies and maintaining family harmony.

    Planning and Executing High-end Home Renovations in the High-Net-Worth space with Zack Secilmis of Reis Contracting

    Play Episode Listen Later Jan 31, 2023 51:40 Transcription Available


    Personal Risk Advisor at Ericson Insurance Advisors and CEO of RiskRevu, Kurt Thoennessen, CAPI and Director of Project Development, Zack Secilmis of Reis Contracting have an in-depth discussion about high-end home/apartment renovations in New York City, the Hamptons and Los Angeles. They discuss the changes the construction industry is battling after Covid-19,  technologies role in construction, integrating risk management into the construction process, the ever increasing cost of construction materials and the shortages for specialized labor.  Join them for this amazing conversation and learn more about the unique process that high-net-worth and ultra high-net-worth individuals and families experience when taking on a major renovation or construction projects.Links:Reis ContractingNYU Schack Institute of Real Estate Fordham University School of Professional Studies 

    Create a Competitive Advantage Using Industry Data with Paul Buse of Real Insurance Solutions Consulting

    Play Episode Listen Later Dec 19, 2022 45:52


    Personal Risk Advisor at Ericson Insurance Advisors and CEO of RiskRevu, Kurt Thoennessen, CAPI and Paul Buse, CEO of Real Insurance Solutions Consulting  have an in depth discussion about how to use standard insurance industry data to create a competitive advantage. Join them for this stimulating conversation and learn how to use industry data to find insights and grow your agency.

    Property replacement costs are going up, up, up! Here's why with Skip Coan of e2Value

    Play Episode Listen Later Dec 13, 2022 58:49 Transcription Available


    Personal Risk Advisor at Ericson Insurance Advisors and CEO of RiskRevu, Kurt Thoennessen, CAPI and SVP of e2Value, Skip Coan have an in depth discussion about the impacts on the replacement cost of property yesterday, today and tomorrow. From supply chains and inflation to the labor market and natural disasters, Skip shares his perspective on these and other areas that impact the replacement cost of property around the world. Join them for this stimulating conversation and learn why the costs are what they are. Episode resources:E2Value website - e2Value.comLondon Instech Podcast - https://www.instech.co/podcast/instech-london-podcast-12-todd-rissel-ceo-e2value-us-property-dataNational Association of Home Builders - NAHB.org

    The Realities of Wildfire and How Science Can Help with OP Almaraz and Tim Bauer of Allied Disaster Defense

    Play Episode Listen Later Oct 12, 2022 56:26


    Personal Risk Advisor and CEO of RiskRevu, Kurt Thoennessen, CAPI, OP Almaraz, CEO of Allied Disaster Defense, and Tim Bauer Senior Vice President of Allied Disaster Defense's Private Client Group  have an informative conversation about the strategies being used today to harden homes against the threat of wildfire in California. In this episode OP and Tim share what they have learned from their extensive experience helping high net worth individuals, celebrities and entertainers recover from disaster. One of the most important lessons they share in this episode is  the best way to protect yourself from  wildfire is by taking steps to protect your property before the wildfire even starts. They talk extensively about home hardening, what it is, and how homeowners can harden their homes. They give advice on the most important steps to take and steps to avoid. This episode is a crash course in home hardening and wildfire defense that will give you the insight you need protect yourself or your clients from the threat of wildfire. Resources mentioned:https://www.alliedrestore.com/NFPA.org - National Fire Protection AssociationIBHS.org - Insurance Institute For Business and Home Safetyhttps://www.usfa.fema.gov/wui/ - Wildland Urban InterfaceCalifornia Building Code - https://up.codes/viewer/california/ca-building-code-2016/chapter/7A/sfm-materials-and-construction-methods-for-exterior-wildfire-exposure#7AFirst regulation to enforces nation's first wildfire safety regulation to help drive down cost of insurance - http://www.insurance.ca.gov/0400-news/0100-press-releases/2022/release076-2022.cfm#:~:text=Commissioner%20Lara's%20regulation%20is%20the,with%20state%20emergency%20preparedness%20agencies.

    Are You Considered High Net Worth? Let's Find Out. with Nadeen Vella, CEO of NaVella Insurance

    Play Episode Listen Later Oct 12, 2022 31:57


    Personal Risk Advisor and CEO of RiskRevu, Kurt Thoennessen, CAPI, and Nadeen Vella of Navella Insurance connected a short time ago to discuss RiskRevu and enjoyed talking about insurance so much they decided to do a podcast. This conversation covers many aspects of the independent insurance agent model. In this episode we discuss the nuances of the private client space and what High Net Worth means in this space. We also discuss how the definition of high net worth differs depending on the industry. This conversation will be helpful to anyone who is looking to learn more about the private client insurance space and better understand  the benefits of placing coverage with premium insurance carriers. Enjoy!https://www.navellains.com/

    Direct, Captive, or Independent Agent. How you buy insurance makes a BIG difference! with Nadeen Vella, CIC of NaVELLA Insurance

    Play Episode Listen Later Sep 30, 2022 31:55 Transcription Available


    Personal Risk Advisor at Ericson Insurance Advisors and CEO of RiskRevu, Kurt Thoennessen, CAPI, and Nadeen Vella, CIC of Navella Insurance connected a short time ago to discuss RiskRevu  for her scratch agency and enjoyed talking about insurance so much they decided to do a podcast. This conversation covers many aspects of the independent insurance agent model. In this discussion, Nadeen brings clarity to each of the different sales models that insurance companies use to sell their product. The direct model, the captive agent model and the independent agent model.  This conversation will be helpful to anyone who is looking to better understand the differences among these sales models and help them see why the the independent agent channel is the superior model. Enjoy!https://www.navellains.com/

    The Art of Managing Valuable Articles in Normal Times and Through Crisis with Jennifer Garland Ross and Sharikay Sloboda of Art Peritus

    Play Episode Listen Later Sep 28, 2022 56:16


    Personal Risk Advisor and CEO of RiskRevu, Kurt Thoennessen, CAPI, and Jennifer Garland Ross, CEO of Art Peritus and Sharikay Sloboda, Director, People, Strategy & Business Development at Art Peritus sit down to discuss the role that project management plays in managing valuable collections. They also discuss best practices for protecting valuable art and antiques before and after a loss. The topic of crisis management is also one that is talked about as it relates  to valuable collections. This is a great episode for those interested in learning more about managing the everyday aspects of owning valuable articles to managing the crisis situations that need quick thinking and quick access to specialized resources. 

    Making Happy Customers in the Non-Admitted Market with Rick Lindsey of Prime Insurance Company

    Play Episode Listen Later Sep 28, 2022 26:03


    Personal Risk Advisor and CEO of RiskRevu, Kurt Thoennessen, CAPI, talks with CEO of Prime Insurance Company, Rick Lindsey about his thoughts and approaches to insuring hard to place risks. The conversation spans the role of the agent in balancing the scales of justice to customizing coverage to make "Happy Customers." Rick offers his thoughts on how agents and carriers can improve the insurance industry to help eliminate lawsuits and ensure customers are well taken care of at the time of a claim. 

    Big Challenges! Big Solutions! Excess and Surplus Lines Insurance in the Private Client Space with Kevin Madden of AMWINS

    Play Episode Listen Later Sep 17, 2022 57:14


    In this episode, Personal Insurance Advisor at Ericson Insurance and CEO of RiskRevu, Kurt Thoennessen, CAPI, talks with Kevin Madden of AMWINS about the critical role  the Excess and Surplus Lines insurance market plays in our economy. This discussion explains what the Excess and Surplus Lines market is, how agents, individuals and businesses interact with it, as well as many details that will help you navigate this area of insurance. Kevin is an insurance industry veteran and he shares some amazing information during this episode. I hope you enjoy it and learn a lot from him. Thank you for listening! 

    The Changing Dynamics of the HNW Insurance Marketplace with Tim Hogan of Peryls.com

    Play Episode Listen Later Aug 22, 2022 62:01 Transcription Available


    Tim Hogan is a 30 year veteran of the HNW insurance space. During this episode of the Private Client Risk & Resilience podcast, Tim brings his amazing perspectives from being a high net worth underwriter and consultant to our conversation. We discuss how the dynamics of natural disasters and and non-weather related losses have impacted the insurance markets and the advice that brokers give their clients. We also discuss the value that a HNW insurance specialist can bring to a client who has significant assets. Resources mentioned:www.fema.govRiskrevu.comValchoice.comSERFF.comPeryls.com

    A Passion For Collector Cars and Insuring Them with Trent Abbott of Hagerty Insurance Company

    Play Episode Play 47 sec Highlight Listen Later Aug 9, 2022 57:18 Transcription Available


    In this episode, Kurt Thoennessen talks with VP of Global Private Client Business Development for Hagerty Insurance Company, Trent Abbott. The conversation delves in the mindset of car collectors, shares details about some of the world's most amazing collector car events and collections, covers the different situations car collectors are faced with, and of course discusses insurance issues that car collectors may experience. We explore the breadth of products that Hagerty offers and the value added services they are offering from their collector car valuation tool to the social events they are sponsoring to bring collectors together. If you are looking to get into the mind of a car collector and understand collector cars as an asset class then this episode will give you the knowledge you seek. It will also help you better understand many of the insurance issues that car collectors face when building their collections. 

    Household and Domestic Employee Risk with Teresa Leigh, CEO of Teresa Leigh Household Risk Management

    Play Episode Play 60 sec Highlight Listen Later Sep 1, 2021 42:58


    Email Kurt Thoennessen at kthoennessen@ericsoninsurance.com to receive a FREE copy of Teresa Leigh's 14 risk management questions to ask when hiring domestic employees. 

    Kidnap and Ransom Awareness, Risk Management and Coverage - Featuring Fritz Barjon of Highland House USA

    Play Episode Play 36 sec Highlight Listen Later Mar 15, 2021 48:07 Transcription Available


    Introduction - Fritz Barjon of Highland House USA - 3:55Kidnap and Ransom Insurance as a Contract Requirement - 6:40Step 1 after a Kidnapping - 10:35Fritz Shares a Personal Story Involving Kidnapping - 13:00What is a Virtual Kidnapping? - 15:27COVID19's Impact on Kidnapping - 16:38Fritz Shares Another Personal Story Involving Kidnapping - 17:55How to Prepare for Kidnapping - 20:40 (Websites mentioned: Travel.state.gov, https://www.controlrisks.com/, https://thinkhri.com/, https://www.s-rminform.com/)What is an Express Kidnapping? - 21:45The Value of an Insurance Broker - 23:00Factors that Elevate Your Risk - 24:00Statistics - 28:00Who Should Have Kidnap and Ransom Coverage? - 29:00Example: Lady Gaga's Dogs Being Kidnapped - 31:12Financial and Human Capital - 33:50How To Purchase a K&R Policy? 35:00Difference Between a K&R Policy and Coverage Through an Endorsed Home or Travel Policy - 36:45Final Thoughts From Fritz - 41:26How to Contact Fritz - 46:50Our guest for this episode was Fritz Barjon of Highland House USA.  Thank you for sharing your thoughts and expertise with us Fritz!Fritz@highlandhouseusa.comwww.highlandhouseusa.comClick the link below to complete a short form to obtain a Kidnap and Ransom insurance proposal from Kurt and Fritz. Kidnap and Ransom Insurance Proposal Form

    Automatic Water Shutoff Valves - The Next Big Thing in Personal Risk Management and Sustainability featuring Mariel Devesa of Phyn

    Play Episode Play 60 sec Highlight Listen Later Jul 23, 2020 46:20


    Podcast Overview:In this podcast, Mariel Devesa of Phyn provides an in depth overview of the Phyn automatic water shutoff valve device, Phyn Plus, and how it is helping homeowners prevent major water damage from leaks and how it allows homeowners to contribute to our planet's water conservation efforts. Podcast Highlights:Less than 2% of homes have a water leak detection system in place today. 10% of the water used in a home is lost to leaks from dripping faucets, leaking toilet flappers, etc.1,200 gallons per day is lost on average from a leaky toilet flapper. That is enough to fill an average size swimming pool. 70% of the Earth is covered by water, but only 3% of that is drinkable. Of that 3% only 1% is accessible. Today there are 8 billion on the planet earth. By 2100 there will be approximately 11 billion people and 2 out 3 people will experience a shortage of water. Featured Guest:Mariel Devesa Global Head of Business Development at Phynmariel.devesa@phyn.comDiscount on the Phyn Device for Private Client Risk and Resilience Podcast Listeners. phyn.refr.cc/kurtthoennessen

    Cyber Risk in the High Net Worth Space feat. Joshua Harris, Manager of Concierge Support at Rubica

    Play Episode Listen Later Jun 25, 2020 30:44


    Protecting your most valuable assets: How to find home and auto insurance with the right combination of coverage, cost and service featuring Dan Karr founder and CEO of ValChoice.

    Play Episode Listen Later May 15, 2020 21:00


    Listen to this interesting and thought provoking interview with consumer advocate and ValChoice founder and CEO, Dan Karr. We discuss the state of the insurance industry and why consumers need more transparency into the performance of insurance companies. Dan also provides insights into web apps including (car insurance price calculators and home insurance price calculators), auto insurance ratings and home insurance ratings as well as lists of the best auto insurance companies and the best home insurance companies, by state. These tools and apps are designed to help both consumers and agents identify the best companies for their needs and their clients’ needs.

    Luxury Second Home Risk Management Tools and Technology feat. Dan Sweeney of Danco Management

    Play Episode Play 60 sec Highlight Listen Later Mar 31, 2020 30:28


    Kurt Thoennessen, VP at Ericson Insurance Advisors, discusses risk management strategies and tools that can help protect second homes from danger with Dan Sweeney, President of Danco Management.Danco Management LLC offers property and grounds management services for owners of luxury homes in and around Litchfield County Connecticut.Featured Guest:Danco ManagementPresident - Dan Sweeneyhttp://dancomanagement.com/ Interview Highlights:Automatic water shutoff valves:- Protect homes from major damage from water leaks. - Help promote water conservancy- Flo Technologies Inc. - www.meetflo.com Smart Thermostats provide an indication of temperature at a second home, which can help prevent damage caused by low temperatures. Oil level indicators keep an owner aware of the oil level in the oil tanks. This helps prevent a situation where the oil runs out and leaves a home without heat. Alarm systems are a critical component of a second home's over all protection. There are several components that can be utilized to provide protection to a second. - Heat / smoke detection- Motion detection- Low temperature monitors- Signal continuity- Closed circuit TV monitoring- Humidity monitorsLightning can cause significant damage to a home's electronics whether there is a direct hit to a property or a there is a strike off property that leads to a power surge. - Lightning protection systems can help mitigate / prevent damage from lightning. EMP Defense is a technology that is being used for this purpose. https://www.empdefense.us/- Whole house surge protection is also an effective solution. Fire suppression systems can also help prevent major damage from fire. Plumis is a technology that is being used to add these systems to homes with reduced need for major retrofitting renovations. https://plumis.com/index.html

    Private Client Perspectives on COVID-19 and Telemedicine featuring Former White House Physician Dr. William Lang of WorldClinic

    Play Episode Play 60 sec Highlight Listen Later Mar 19, 2020 37:59


    WorldClinic Overview:WorldClinic provides instant physician access and the latest longevity science to executives, families, and world travelers. Our clients use us to address any medical condition anywhere, anytime.We care for families and individuals who use our service to resolve 95% of medical issues without ever going to a doctor's office. We leverage genome sequencing, stem cell therapy, and other emerging treatments along with smartphone monitors to maximize longevity.Contact information:Alexa CarlinPhone: (603) 526-9003Email: acarlin@worldclinic.com Dr. William Lang Bio:Dr. Lang is the Director of clinical policy and services for WorldClinic. He also leads their Occupational Health Practice. Prior to his role at WorldClinic Dr. Lang served for over six years as the Chief Operating Officer of the White House Medical Unit. Throughout this period, he also served as Deputy Physician to the President of the United States. He has been dedicated to the practice of family medicine since he began his medical career in 1987 after finishing his medical training at the Uniformed Services University of the Health Sciences. Podcast highlights regarding COVID-19:Millennials and younger folks who may be considered low risk from this novel Coronavirus should do what they can to protect the people who are considered high risk. High risk people include:Older adultsPeople who have serious chronic medical conditions like:Heart diseaseDiabetesLung diseasePodcast highlights regarding telemedicine and WorldClinic:WorldClinic is a leader in the field of telemedicine and has practiced it for over 20 years. Telemedicine gives patients of WorldClinic the ability to skip the long waiting lines at hospitals and doctor’s offices and receive the care they need just by picking up the phone. Technological solutions are used to deliver care to patients and to monitor their well-being remotely. WorldClinic maintains up to date medical files for each of its patients. This enables their physicians to provide care their patients can trust and objective oversight of any medical situation their patients are going through. Telemedicine allows physicians to provide a high level of care similar to way family doctors used to deliver it by eliminating many of the logistical issues involved with in-person care.Many successful individuals are considered “Global Citizens” because they own property in multiple countries or because of the significant amount of travel they do outside their home country. WorldClinic is a valuable partner to have in these situations since they maintain a complete medical file for each patient. Therefore, no matter where the patient is in the world, WorldClinic can provide trusted objective oversight as well as physical assistance for their patients. Show links:https://www.cdc.gov/coronavirus/2019-ncov/https://www.who.int/emergencies/diseases/novel-coronavirus-2019www.Covid19.worldclinic.com

    Luxury Second Home Risk: Property Preservation and Protection Featuring Dan Sweeney of Danco Management

    Play Episode Play 38 sec Highlight Listen Later Feb 18, 2020 26:00


    Kurt Thoennessen, VP at Ericson Insurance Advisors, discusses the risks of owning a luxury second home with Dan Sweeney, President of Danco Management. Danco Management LLC offers property and grounds management services for owners of luxury homes in and around Litchfield County Connecticut. Featured Guest:Danco Management President - Dan Sweeneyhttp://dancomanagement.com/ Interview Highlights:How is owning a second home different than a primary home? · Second homes can be seasonal usage, periodic uses or both. Seasonal homes develop concerns due to inconsistent usage and in a lot of instances the concerns go unreported (out of sight, out of mind). The fact that they may be dormant poses potential issues when it comes to the overall preservation plan.What are the added risks? Limited occupancy – Houses, like vehicles, do not do well if they sit dormant. Systems should be used on a regular basis to ensure proper operation and to identify any issues that may arise (plumbing, water filtration, generators, doors, windows, etc..)Rental exposure - From a property management standpoint, the care and usage exposure is a variable often difficult to narrow in on. Renters and guests may not understand the home’s systems and operation. Their use of the home may result in costly repairs and frustration for both parties. Unprotected – Second homes may be located far from the normal protections that primary homes benefit from such as a fire department, water source and other protection services. Vacation spots - With the erratic weather we have had over the last several years, homes we manage have really been well tested from an elements standpoint. Ice, rain, droughts, etc. Maintaining heat - My experience is that aside from the water damage exposure, fit and finishes don’t like large temperature and humidity swings (cabinetry, trim, flooring to name a few). Performance built homes have many variables that are factored into a home’s performance and manually disturbing that calculation can lead to potential issues.Monitoring water use - Water conservancy is a huge concern for any home where an onsite water well is the domestic source. Also, there is a need to monitor areas where conservation measures can be implemented.What are some of the most common issues that arise in second homes? · What are the maintenance issues? Deferred or unidentified issues such as mechanicals, exterior surfaces and infrastructure lead to costly capital expenditures.· What are the insurance issues? Gaps in coverage based on usage, geographical factors not allowing for prompt response, updating property status and revisiting policy coverages (additions, upgrades to interior, wine rooms, art galleries, etc..)· Changing the usage without considering the impact on your insurance. Surprising the insurance provider with new information at the time of new claimWhat services do you provide? · Property preservation/maintenance/management, construction managementDo you have a specific service for homes that are being rented on home sharing sites? What does that look like and what are the risks? · AirBNB and second homes - Local ordinances may cause a property to operate outside of regulations. Properly managed, some properties can have revenue streams to offset operating expenses and ensure home is being used. Wear and tear by others can be concern, if not clea

    Residential Automatic Water Shut Off Valves - A Silver Bullet in Personal Risk Management

    Play Episode Listen Later Dec 19, 2019 28:26


    More than 50% of all property insurance claims in the U.S. are related to non-weather related water losses in the home. A vast majority of those losses could have been significantly minimized or avoided if the home was equipped with an automatic water shutoff valve device. Such device will monitor the water in a residence's pipes for unusual water flows and close to valve to shut off the water home’s water supply. This episode will provide an in-depth analysis of this risk management strategy and how it can help homeowners avoid costly damage from water leaks.

    What is personal risk management and how does it improve resilience to loss?

    Play Episode Listen Later Dec 17, 2019 19:32


    Personal risk management starts with a frame of mind that puts an emphasis on protecting something from harm through thoughtful preparation and planning. Every risk management plan is different because it is based on a unique set of factors dictated by a person’s lifestyle and asset base. Once it is determined that a personal risk management mindset will be utilized, the next step is developing a plan that can be executed. There are three components to a thorough personal risk management plan. They are: Prepare and planPredict and preventRespond and recoverEach of these areas targets are certain aspect of risk management that should be incorporated into a comprehensive personal risk management plan. This episode goes into further detail about what is involved with this type of plan and how it can be developed.

    Volatility, Valuation and Protection for Contemporary Art feat. David Shapiro of Victor Wiener Associates, LLC

    Play Episode Listen Later Nov 30, 2019 35:34


    #001 - Join Kurt Thoennessen, CAPI and expert art appraiser, David Shapiro of Victor Wiener Associates, LLC, to learn about price volatility in the contemporary art market, the different methods of art valuation, and the risks that art is exposed to. Their conversation explores the factors that are driving the prices of some artists work to stratospheric levels and how art collectors can ensure their works are properly valued. This episode also provides information about insurance coverages and risk management techniques that will help protect art from a loss. If you would like to learn more about this episode's special guest, please click the link below. http://www.victorwienerassociates.com/team/david-shapiro * Correction: The Julie Curtiss piece, Princess sold for $106,250 at Phillips (New York) against an estimate of $6,000 - $8,000 (not $4,000 - $6,000 as was stated in the interview). Here is the link: https://www.phillips.com/detail/julie-curtiss/NY010519/316

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