Podcasts about rims

At RIMS RISKWORLD 2026, Jeff Kulikowski of Westfield Specialty explains why insurers must avoid repeating the “silent cyber” mistakes of the past as AI risks rapidly reshape E&O … Read More » The post AI Insurance Risks Could Become the Next Silent Cyber Crisis appeared first on Insurance Journal TV.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews François Beaume about the AMRAE 2026 RMIS Panorama available now and about the RISKWORLD 2026 session that François presented. Justin and François discuss ESG functional coverage. They discuss how François uses AI daily. They discuss the continuing increase in RMIS users, moving RIMS out of the niche tool category into an enterprise governance platform. They discuss the 2026 RMIS Panorama findings, the Panorama database, and how you can access it. Listen for insight into the 2026 RMIS Panorama and how your organization compares.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are delighted to welcome back to RIMScast AMRAE President François Beaume. He's here to discuss the findings of the 2026 AMRAE RMIS Panorama. We'll talk all about emerging trends. But first… [:48] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. The next RIMS-CRMP Exam Prep with PARIMA will be held virtually on July 21st and 22nd. Links to registration are in this episode's notes. [1:06] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes. [1:27] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. We want to hear from you. Submit a session proposal by June 19th to reach engaged practitioners, innovators, and leaders looking for guidance they can utilize right away. [1:45] Help define what's next for Enterprise Risk Management. Submit a session proposal by Friday, June 19th. A link is in this episode's show notes. [1:53] Folks, through the generosity of industry partners, RIMS has launched The Foundation for Risk Management™, which provides scholarships for early-career professionals to attend RIMS events like the RIMS Texas Regional Conference, RIMS Canada Conference, and RISKWORLD. [2:11] The Foundation also helps beneficiaries earn their RIMS-CRMP and fund research projects. To learn more or contribute to the Foundation, visit RIMS.org/FRM and visit the link in this episode's show notes. [2:27] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:46] On with the Show! Our guest today is making his third appearance here on RIMScast. He is the Senior Vice President for Risks and Insurance at Sonepar, and he is the President of AMRAE, the Association for the Management of Risks and Insurance in Enterprises. [3:04] François Beaume is here to discuss the 2026 RMIS Panorama, published by AMRAE, in partnership with EY. Panorama is free and publicly available. [3:14] Panorama provides an in-depth look at the organizations and professionals who are using risk management information systems, how well they've adapted, and guidance for those seeking their first or newest framework. It's always great to speak with him. Let's get to it! [3:28] Interview! François Beaume, Welcome Back to RIMScast! [3:36] François has been Chairman at AMRAE for a year and will be for two more years. Because of his role at AMRAE, Justin wanted to have him on the show to speak about this year's RMIS Panorama. [4:04] Justin mentions a difference between last year's RMIS Panorama and this year's RMIS Panorama. Last year, AI felt like an emerging capability. This year's report shows a 20-point jump in planned or actual AI integration and an 8-point increase in functional coverage. [4:19] At the same time, people aren't always happy with AI. The satisfaction part is still a little bit behind. Justin asks, Are we entering a phase where expectations are outpacing execution? [4:32] François says, Yes, probably. AI has moved faster in CEOs' and leaders' minds than in the organization. Everyone wants the data, governance, and skills. Educating the workforce users takes time. The ambition was there, but the "plumbing" is catching up. [5:11] François says that is what is being reflected in the 2026 RMIS Panorama's deep dive on AI. [5:29] François says he uses AI all day long for various things. As a risk manager, he uses it to increase his efficiency and daily productivity. He thinks that is quite common. He says it's also what we need for faster and better analysis. [6:00] Daily analysis from an AI engine using trusted sources is much faster than manual analysis. Now he has the time to tighten it, understand it, and complement it. [6:44] SONEPAR is using it for their benefit and to better spread risk management principles throughout the organization through Helpdesk or Chatbot, allowing people who are less skilled in risk management or insurance to ask questions through the tools to get support. [7:05] Those tools answer almost 90% of the questions. The remaining questions go to the Risk Management team because they are in a gray area. SONEPAR is using AI more and more and is entering a phase where they are looking at automating some risk management processes. [7:33] François says he is looking at automating business partner assessments, a cumbersome and complex process that the Risk Management team is doing with multiple tools. [7:49] Now, they are trying to streamline it, still with humans making the decisions, based on an AI data set that will be faster and easier to produce and much more reliable. [8:24] Justin says one of the more surprising findings in the RMIS Panorama is that ESG Functional Coverage dropped by 15 points this year. François explains why he thinks this is the case. It's not ESG fatigue, but it's in the way companies are approaching ESG. [9:22] François says a lot of ESG features are moved out of risk management information systems into dedicated tools and sometimes into dedicated teams. In the beginning, some ESG features were encapsulated in Risk Management systems. [9:39] François says it's less and less the case, at least in the tools that are sold in Europe. In the U.S., it could be more mixed. Separating ESG from Risk Management is more linked to maturity and topical evolution, rather than fatigue or a decrease in the importance of ESG. [10:06] Justin says the report also suggests that functional coverage overall has stabilized, which Justin asks if that indicates a mature market. François speaks of maturity and breaks down the RMIS Panorama, made from three surveys: Vendors, Risk Managers, and Insurers. [10:43] Maturity is reflected by a mix of these studies. Almost 250 Risk Managers from 36 countries took the survey. They want smarter features, better insight, better connections, and better decisions. They want the tools RMIS is using to be part of the group's way of functioning. [11:27] François says this is not yet the case. The tools are a bit apart and not fully connected with the CRM and other tools. François says they are starting to change. The risk managers using these tools are expecting change to come in the next few years. [11:52] Justin asks if it's easier today for a startup to build from the ground up with their Risk Management Information System embedded in their processes, or for an established organization. François says today it's easier for both, but big groups are more complex. [12:39] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [12:57] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. [13:08] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [13:18] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [13:35] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Advance registration will open on June 10th. [13:50] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [14:04] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. The deadline for educational content submissions is Friday, June 19th. Get submissions in now. The link is in this episode's show notes. Registration opens in July. [14:27] Let's Return to Our Interview with François Beaume! [14:36] François Beaume presented at RISKWORLD 2026. You can check out the materials from his presentation on RIMS.org/ASC. You will have had to have registered for or attended RISKWORLD 2026 to check it out. We're here to continue the dialog. [15:12] François feels his session went well. There were 50 to 55 people gathered there to listen and take notes. For François, it was pleasant to do. [16:00] François says you have a feeling when you are connecting with an audience. You can see that they are following you, and the message is passing from you to them. [16:51] François says, If you are losing your audience, you can try to use humor. Sometimes you succeed. He tells of a session in a noisy room, where everybody, including himself, was provided with a helmet, to listen to like a podcast. He could not feel if they were getting the message or not. [17:47] When presenting, you try to hold the attention of the room. Justin says that sometimes he locks eyes with somebody who's listening and then talks to that person and hopes that others will pick up on that energy. [18:18] Justin says risk management is not the easiest topic to make exciting. You have to figure out ways to jazz it up a little bit. [18:31] François says if you are convinced that the topic is interesting, that conviction, at a certain point, will pass through the mic and go to the room. If you are not convinced, the public will feel it. Justin says, If you are not excited to present, the audience will not be captivated. [18:58] François notes that he is French and speaks English like a Frenchman, so he has to manage that. His message may not be phrased as the audience expects. The way an American would phrase it is not the way I am using it. Justin stresses listening better to different accents. [19:58] Justin says François is a very good presenter, and the RISKWORLD audience seemed engaged in his message. Justin says if one person walks away with something actionable, it was worthwhile. François says, "Mission accomplished!" [20:23] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [20:43] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [20:58] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [21:09] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [21:17] The Spencer 2026 Funding Their Future Gala will be held on Thursday, September 17th, from 6:30 to 10:00 p.m. at a different venue this year. It will be at the fabulous Waldorf Astoria in New York City. [21:32] Sponsorship opportunities and benefits are available now. A link to the Funding Their Future Gala is in this episode's show notes. [21:40] Next week's guest is the Funding Their Future Gala Honoree, Marya Propis! More Spencer celebrities and board members will be making appearances on RIMScast this summer, as well. [21:53] Let's Conclude Our Interview with François Beaume! [22:09] Justin says the Panorama notes an increase in organizations with more than 200 RMIS users. Does that signal that RMIS is becoming an enterprise-wide infrastructure, or is it still a niche tool for risk teams? [22:26] François says that this is really positive. A Risk Management Information System is not a niche risk tool anymore. It's becoming part of the company infrastructure. [22:44] Once you have hundreds of users, expectations explode, the momentum is there, and user patience drops. As the tool starts to become more massive and interconnected with other tools, you have to manage expectations. The scope of usage of these tools is widening. [23:16] You have not only niche risk usage, but you also have risk management, internal control, insurance, compliance, etc., that are managed inside the tool. The tool reaches all areas of development. The momentum is self-generating. [24:15] François says executive involvement in RMIS usage is positive. Executives want clarity from dashboards. They want to know what matters, why it matters, and what we can do next. They want the deep insight of the tool. They may not go into the tool, but will use the dashboard. [25:10] François speaks of the progress of the techniques of Risk Management Information Systems. Data mining, SaaS contracts, and AI usage have contributed to making RMIS easier to deploy, connect, and access in order to load data, analyze data, and extract data. [26:08] Now is a time of wider usage of Risk Management Information Systems; once they have been adopted, they are there for life, and then you have to make them evolve. [26:21] This means that we have more discussions inside the corporations on RMIS evolutions and replacement. Are we able to make it evolve on its own, or is it time to change? If yes, what kind of process can I depend on to contemplate and manage that change? [26:56] This is executive level. You have created expectations. You have provided dashboards and KPIs, and you have to manage the production. Once it's done, you need a different momentum to run the production and make it better and more accurate over time. It's not easy. [27:40] With their partner EY, AMRAE is finalizing the deployment of the 2026 Panorama Sessions. The French translation will be released by mid-June, and explanation sessions will be run with vendors, risk managers, insurers, and brokers. [28:05] François says AMRAE is already working on the 2027 Panorama, which will be ready for the next RISKWORLD session in New Orleans. [28:27] If someone wants to participate in the Panorama, they need to contact AMRAE. Risk managers will be contacted by the risk management association of the country where they operate. If you are a vendor, you can contact AMRAE. AMRAE contacts insurers and brokers. [29:35] Justin says if you wish to participate, reach out. Go through your risk association where you have membership, like RIMS, FIRMA, or IFRIMA. The confidential information collected helps educate the global risk community. This Panorama is very important for us. [30:08] François says that inside the Panorama, all the contact details are available. As part of the panel, you have access to an online data form. The Panorama has a PDF version, a snapshot of what's in the database. The full database is accessible to anyone. [30:27] François says that as a risk manager or a vendor, you can run your own analysis by filtering and sorting the Panorama database. [30:45] Justin says that's the nice thing about it: AMRAE has made it complimentary and is broadening the horizons of the global risk community by doing so. [30:57] Justin says, I do miss recording with you in person. So, next year, hopefully we get a chance to see each other and have some Cajun food, put the mic up, and eat some jambalaya and talk. It will be great. I want to thank you again, and you're welcome back any time. [31:17] Special thanks again to François Beaume for joining us here on RIMScast! We look forward to seeing him at a future RIMS event. You can visit AMRAE.fr to access the free and publicly available RMIS Panorama 2026. [31:34] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [32:03] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [32:21] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [32:39] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [32:55] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [33:09] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [33:21] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session Submission Deadline: Friday, June 19 RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Registration Opens June 10 RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam | Register Now! 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute | Look for the Awards Edition in "Digital Issues"! RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! RIMS, the Foundation for Risk Management The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy RISKWORLD 2026 Presentations Available via Attendee Service Center — www.RIMS.org/Asc - and via the RIMS Events App RMIS Panorama: https://www.amrae.fr/bibliotheque-de-amrae/2026-rmis-panorama Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep with PARIMA | July 21‒22, 2026 RIMS-CRMP-FED Exam Prep with AFERM | June 16‒17, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes: "Strategy and Change with Ward Ching and Aaron Olson" "Live from RISKWORLD 2026!" "The Evolving Role of the Risk Analyst" "AI and the Future of Risk with Dan Chuparkoff" "Live from RISKWORLD 2025" "AI Risks and Compliance with Chris Maguire"   Sponsored RIMScast Episodes: "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL 'Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: François Beaume, SVP Risks and Insurance, Sonepar President of AMRAE   Production and engineering provided by Podfly.

The first time I met Melanie I knew I wanted to know her better. Her love for Jesus is infectious! She is a communicator, an author and shares her faith with everyone who will listen! She hails from Puerto Rico and uses her bilingual capabilities in many ways; including, publishing a second children's book called, “My Super Dog”. Melanie shares her story of coming to know Jesus and how God continues to open doors for her to share her faith. You'll be encouraged and inspired to use YOUR gifts and talents after hearing how Melanie shares hers!Show Notes:My Super Dog, published in 2026Oliver and The Magic Door, published in 20213-Day Devotion available on YouVersion Bible App: Estoy leyendo el Plan de @YouVersion El Diseño, Plan, Tiempo.Dios.'. Véalo aquí:Contact:Website: https://melaniefibe.com/Phone: 787-344-3578Email: figue.melanie@gmail.comConnect with Denise:Email: denise@wearethebridge.org or podcast@wearethebridge.orgFacebook/Instagram: @motivesgirl1“That Voice (How I Hear Him Speak)” from Treasured Inside, Devotions with Denise, Vol 2Available at Amazon: http://bit.ly/4qJ3ho3The Bible Recap  wearethebridge.org/recapBridge Ladies Bible Studies    wearethebridge.org/study Did you know you can now watch Over the Rims of Mugs?Visit https://www.wearethebridge.org/mugsvideoPlease share Over the Rims of Mugs with a friend if you enjoyed this episode. Over the Rims of Mugs is still growing, and your positive review and 5-star rating would help.The Bridge Podcast Network is made possible by generous support from The Boardwalk Plaza Hotel and Victoria's Restaurant on the boardwalk in Rehoboth Beach, Delaware - Open 7 days a week, year-round - Learn more at https://boardwalkplaza.comFeedback, or Show Ideas? Send an email to podcast@wearethebridge.orgDownload The Bridge Mobile App to get the latest podcast episodes as soon as they are published!

At RIMS RISKWORLD 2026 Philadelphia, Tim Nunziata of Nationwide talks about how rising litigation, biometric data collection, AI-powered cyber threats, and evolving privacy regulations are reshaping claims risk … Read More » The post AI, Biometrics & Data Privacy: The Emerging Claims Risks Insurers Can't Ignore appeared first on Insurance Journal TV.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Emily Buckley, Insurance Risk Manager at Specialized Bicycle Components. They discuss how, in her career, she arrived at risk management, from tossing T-shirts into the stands at Ball Stadium. They talk about her work leading risk at Kroenke Sports and Entertainment for years, and then joining Specialized Bicycle Components to become their Risk Management program and launch ERM for them. Emily talks about Specialized hiring the best people, including professional and Olympic athletes, to make the best product. Emily's purpose is to build the best Risk Management and ERM Program for them. Justin and Emily discuss how she feels about being named the RIMS 2026 Honor Roll Recipient. They discuss her involvement with the Rocky Mountain RIMS Chapter and her engagement in the ERM Engage Group. Listen for the excitement and energy Emily brings to the ERM Program at Specialized.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are so excited to welcome back to the show Emily Buckley of Specialized Bicycles. She was recently named to the RIMS Honor Roll at RISKWORLD, so we have lots to discuss regarding safety, career development, and ERM. But first… [:48] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep will be held on June 9th and 10th. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. Links to registration are in this episode's notes. [1:04] You can enroll now in the RIMS CRO Certificate Program in Advanced Enterprise Risk Management hosted by the famous James Lam. Beginning July 15th, workshops will be held bi-weekly from 11:00 a.m. to 3:00 p.m. Eastern Time. The registration link is in the show notes. [1:25] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. We want to hear from you. Submit a session proposal by June 19th that will reach engaged practitioners, innovators, and leaders looking for guidance they can utilize right away. [1:43] Help define what's next for Enterprise Risk Management. Submit a session proposal by Friday, June 19th. A link is in this episode's show notes. [1:51] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:10] On with the Show! Our guest today is one of the liveliest RIMS members I know! She is Emily Buckley, the Insurance Manager for Specialized Bicycle Components, a global performance brand. [2:23] Emily is the Vice President of the RIMS Rocky Mountain Chapter. At RISKWORLD 2026, Emily was named to the RIMS Honor Roll in 2026. Emily made her RIMScast debut in 2024 for National Bike Safety Month in Man, and we're recording in May again. [2:47] We'll have a lot of fun talking about bicycle safety and how Emily embeds safety into all aspects of risk management and the risk culture over at Specialized Bicycle Components. [2:59] Emily has had a remarkable career at Specialized. She is the company's first-ever dedicated risk manager. She has built a modern enterprise-ready risk and insurance function from the ground up, which we are going to talk about today. [3:12] We'll talk about her risk philosophies, her approach to polycrisis and supply chain risk management, and why her involvement in the RIMS Rocky Mountain Chapter has been so critical for her career. Let's get to it! [3:27] Interview! Emily Buckley, Welcome Back to RIMScast! [3:50] Emily says receiving the RIMS Honor Roll award seemed surreal. It was very cool to be onstage, be recognized, and have the village she had built around herself there supporting her. Everyone was so excited for her. It was one of the coolest things she had ever experienced. [4:27] Justin calls Emily the Risk Queen of Denver and the Greater Denver Area and says she has a lot of support behind her. She's "got heat!" [4:48] Justin is recording this episode during National Bicycle Safety Month. This is Emily's month. At Specialized Bicycle Components, every day is National Bicycle Safety Month! [5:19] Justin talks about safety being embedded into the manufacturing and shipping of bicycles. [5:34] Emily says every day, even when she is sleeping, safety is on her mind. [5:46] Specialized Bicycle Components has a Safety Team. Emily's broker has a Safety Specialist assigned to her account. Emily has connected those two teams. She is a liaison between them, and she works very closely with her Safety Team at Specialized Bicycle Components. [6:02] Emily has monthly meetings with groups at Specialized Bicycle Components to discuss safety initiatives. She says the Safety Team at Specialized does a phenomenal job. [6:26] Emily says Risk Management is a department of many hats. She tells people that if there is pushback on an initiative, I'll be the bad guy. Tell them, Sorry, Risk Management is making us do this. Sometimes that's a little bit easier to sell. [7:11] Emily has been practicing risk management for almost 15 years. She started at Kroenke Sports and Entertainment in Customer Interaction, including tossing T-shirts into the crowd for the Denver Nuggets. People wanted those shirts. [9:05] When Kroenke posted a job for a risk analyst, Emily applied, and Peggy Miller hired her. Emily talked about this in her past appearance on RIMScast. Peggy is the President of Rocky Mountain RIMS. Peggy taught Emily almost everything Emily knows about risk management. [9:34] Peggy took Emily under her wing. She taught Emily how to review contracts for risk management wording and insurance requirements. Emily could go to Peggy with any question, and Peggy would explain it. Emily says that Peggy is a phenomenal boss. [10:07] Emily found an opportunity at Specialized when it was time to spread her wings. She still calls Peggy from time to time for advice. Peggy is always willing to help. [10:34] Emily joined Specialized Bicycle Components and became the risk management department. She came in two or three months before they did their insurance renewal, so it was initiation by firehose. [10:53] It was a great opportunity to learn about the program. She was also educating them about what risk management does and how they should be running their program, and educating them about insurance requirements. [11:16] Emily says Specialized has an amazing executive team and ownership. They were so receptive to all the ideas Emily brought them. They also had a lot of creative ideas. As a risk manager, it was fun to come into that environment. [11:49] The risk department has not grown since Emily joined Specialized. [12:21] Emily started an ERM Program at Specialized. It takes a team, and it takes the right partners. Emily thinks every company will benefit from an ERM Program. Stepping into a manufacturing company very dependent on the supply chain, Emily saw that ERM was a must. [12:49] Emily worked with the right partners, did a couple of different tabletops, and hyper-focused on three or four ERM initiatives, for which she built the ERM foundation and the risk management foundation on top. Every project she works on goes back to those initiatives. [13:24] Emily says she is very fortunate to have the ear of the executive leadership. [13:32] One of the mantras at Specialized Bicycle Components is Innovate or Die. Emily has taken that to heart in Risk Management and ERM. Emily is constantly trying to find ways to make the ERM stronger and better, going back to those three or four initiatives. [13:51] Emily thinks outside the box. She has seen some products that don't completely fit Specialized, but by working with the service providers and saying she likes this product, but she needs it to do this, she has found some amazing service providers and partners to work with.  [14:24] As a risk manager, Emily lives in worst-case scenarios. Professionally and personally, she can never get away from worst-case scenarios. A good risk manager is always preparing for the worst-case scenario, always thinking, what is the absolute worst thing that could happen. [14:46] Emily says one of the hardest things is realizing that a lot of people don't live in that headspace. When she goes to teams and tells them the worst thing that can happen, they ask if she is OK. She insists that this worst-case scenario is something they need to think about. [15:12] That's where education comes in. We need to think about it. If this worst-case scenario happens, all of these ripple effects hit every portion of the company. [15:43] Emily says Specialized has been around so long, and with the leadership and experts they have in place, Emily is amazed every day at the team that Specialized has assembled. She says they are the best in their class. There are Olympic and professional athletes on the team. [16:43] A service provider noticed that Specialized Bicycle Components recruits the best people in the world. They want that experience so they can build a better product with better processes. [17:07] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [17:27] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. Advance rates are available through June 5th. [17:41] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [17:51] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [18:08] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Early-bird registration will open in June. [18:22] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [18:37] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. The deadline for educational content submissions is Friday, June 19th. Get submissions in now. The link is in this episode's show notes. We'll let you know when registration opens. [18:59] Let's Return to our Interview with RIMS 2026 Honor Roll Recipient Emily Buckley! [19:13] Justin speaks about the profile of Emily Buckley in the RIMS Risk Management Magazine Awards Edition. It mentions that Emily consolidated fragmented global insurance structures into a unified strategy across more than 30 countries. [19:38] Emily says, trying to get the insurance together at a global company was hard. A lot of people were autonomous, getting their own insurance and doing their own thing. In almost 15 years as a risk manager, Emily learned that insurance is very touchy for a lot of people. [20:23] Insurance costs a lot of money for something that you can't see. You're not using it unless something bad has happened. So it's a very sensitive subject for a lot of people. Emily says it's a job that won't ever really be done because there are so many different moving parts. [21:03] Emily says that in all the different countries we're in, every country has different insurance laws, different ways to buy and pay for insurance, and what kind of insurance you have to have. [21:13] Emily says in some countries, I have to have a locally placed general liability policy, but the property policy that I place on a global level will sit over that. In a different country, I have to have a locally placed general liability/property and a locally placed stock throughput. [21:31] For almost 40 different countries, you have to know which countries you have to have insurance in. That's when your broker becomes invaluable. [21:48] It's helpful to have a foreign team on your broker who are subject matter experts in placing locally placed policies. Emily says she would not be able to do that without the team at her broker, Brown & Brown.  [22:03] Emily talks about educating the people at your company: This is what we currently have, and this is what we need. We need it in almost 40 countries. These 20 are our top priority. You tier them down so you're not throwing everything at the wall. [22:27] You're formulating a plan, then educating and speaking with the people in your company. A lot of questions come up, not only about general liability, but also cyber, and directors & officers. [22:37] It's a sensitive subject that you have to take your time with. Build a relationship with those offices so that when something does happen, or they have a question, they come to you. [23:04] You will always be making connections with your offices, making sure they're happy with their insurance, they understand it, and they have a local contact. If something happens in Taiwan, they need a local contact who can answer questions and relay that to the global team. [24:12] Emily says that every year, there are two or three problem countries, from an insurance perspective, where the carrier or broker has thrown a curveball. Sometimes she has had to pull people out of the program and put them on their own. It's a constantly moving target. [25:13] Emily says at Kroenke, she and Peggy did a business continuity tabletop, where they sat down with all the different department heads at Ball Arena (Pepsi Center, then) and walked through scenarios. They presented a worst-case scenario tabletop with 30 people in the room. [25:52] Emily and Peggy also did a couple of cyber tabletop exercises. Emily stresses how important it is to do a cyber tabletop with your executive and leadership team. They're always amazed at how many different small issues and questions come up that they never thought of. [26:35] Emily says her leadership team at Specialized is fantastic. They've been very supportive. She can throw ideas at them, and they'll say, "Let's do it." [26:49] Justin says people receive these awards from RIMS not just for their achievements in risk management, but also for what they give back to the broader risk management community or their local chapters. [27:09] Justin says Emily is very involved in the RIMS Rocky Mountain Chapter and is a great Networker and is very plugged in. Justin says that if it weren't for Emily, he doesn't think he would have gotten Rich Lenkov from SERMA on the show this year. (Shout out to Rich!) [27:40] Emily says she started going to the Rocky Mountain RIMS Chapter when she was an analyst, working under Peggy Miller. She remembers walking into a Lunch and Learn. Going to Chapter meetings was very inspiring. She wanted to be that knowledgeable one day. [29:10] Emily says this industry is built on your connections to people and how you know people. She says we have the best people in our chapter. We're very involved with students and RRP. [29:24] Emily tells students in RRP, "Come to our meetings. If you don't know anybody, you know me. I will introduce you to everybody. This is where your career is going to take off. This is where you're going to be able to make steps and strides and really make connections." [30:11] Emily says she cannot say enough great things about Rocky Mountain RIMS. She thinks they have one of the best chapters in the U.S., because they have the best people. [30:24] Justin recalls that Ondrea Matthews with CoorsTek was on the show last year. She is in Rocky Mountain RIMS. Emily says Ondrea is one of the best people she knows. Justin says she had fascinating stories. A link to her RIMScast episode is in the show notes. [31:02] Emily says when she joined Specialized, she told them she's a Rocky Mountain RIMS board member, she speaks at conferences, and is a guest lecturer at CU Denver. They were super supportive. [31:47] Emily says Specialized wants to put the best product on the market, and Emily takes that into risk management and insurance. She wants to create the best risk program that she can. She wants to work with the best service providers that she can. [32:12] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [32:32] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [32:57] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [32:59] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [33:07] The Spencer 2026 Funding Their Future Gala will be held on Thursday, September 17th, from 6:30 to 10:00 p.m. at a different venue this year. It will be at the fabulous Waldorf Astoria in New York City. [33:23] Sponsorship opportunities and benefits are available now. A link to the Funding Their Future Gala is in this episode's show notes. [33:32] Be on the lookout for some of the honorees and Spencer Board members to join RIMScast in June and July. [33:41] Let's Conclude Our Interview with RIMS 2026 Honor Roll Recipient Emily Buckley! [33:48] Justin mentions the RIMS Strategic and Enterprise Risk Management Council. The RIMS ERM Engage Group is a member-only offshoot of SERMC for people to have candid dialogues. All RIMS members have exclusive access to the ERM Engage Group. Emily is a member. [34:38] Emily says the ERM Engage Group gets together monthly for an hour. Morgan O'Rourke, VP of Editorial at RIMS, leads it. Everyone brings issues, or Morgan will have a guest speaker. Emily says it's just such a great place to go and learn from industry peers with similar issues. [35:55] Emily is not trying to reinvent the wheel. If she can bring the problems she is dealing with to a group of professionals, ask how they have done it in the past, and get 10 or 20 ideas, it's amazing. [36:13] Emily recommends the movie, Project Hail Mary, which she calls amazing. [36:27] Justin talks about the monthly guest speaker, often from SERMC, who presents a topic and then engages the group in discussion. The Engage group lets the leaders see who the next ERM leaders are going to be through their participation. It's very interactive. [37:32] If you are a RIMS member, just check out the RIMS ERM Engage Group. Justin says Emily's involvement is above and beyond, not just for her job, but for RIMS, so he was not surprised she received the 2026 RIMS Honor Roll; it's well deserved. [38:18] Emily loves her job. She loves this industry.  [38:40] Emily admits her blood caffeine content was through the roof, preparing for the awards ceremony. Emily looked it up. She is the 43rd recipient of the Risk Management Honor Roll in 75 years of RIMS. She has the award in her window in her office. It is cool to be celebrated. [40:26] Emily says her award makes it into everything. After she got it, she carried it around with her. At lunch, it was sitting on the table. At dinner, it was sitting on the table. She carried it onto the plane with her. [41:22] In the profile about Emily, it talked about perseverance in mountain biking. Juston asks Emily for her inspiration for the next generation of risk professionals. [42:04] Emily's words: "Keep going. You're going to fail, and that's fine. It's part of the journey. Fail. Learn the lesson or lessons, but keep going. Always keep looking at the horizon, saying, OK, I'm going to get there. I'm going to get there, I'm going to get there. [42:21] "The absolute most important thing is, have fun on the way." Emily says she did a little dance on the awards stage, and some students told her they loved seeing her having fun with it. It made Emily's day for them to stop and tell her. "If you're not having fun, what's the point?" [43:21] Justin tells Emily, We look forward to more great things from you in the coming years. We thank you, and we congratulate you again. [45:33] Special thanks again to Emily Buckley of Specialized Bicycle Components for joining us here on RIMScast! Congratulations again to her for being named to the RIMS 2026 Honor Roll. More coverage is available in the RIMS Risk Management Magazine's Awards Edition. [43:27] Go to RMMAgazine.com and check out the digital issues section. We look forward to having Emily back again. [43:55] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [44:23] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [44:41] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [44:59] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [45:15] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [45:29] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [45:41] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Session Submission Deadline: Friday, June 19 RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Registration Opens in June RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒ Sept. 2026 Cohort | Led by James Lam | Register Now! 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute | Look for the Awards Edition in "Digital Issues"! RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy RISKWORLD 2026 Presentations Available via Attendee Service Center — www.RIMS.org/Asc - and via the RIMS Events App Press Release: "RIMS Risk Manager of the Year Award Goes to Prologis Head of Global Risk Jeff Bray, Honor Roll to Emily Buckley" Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | June 16‒17, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes: "Live from RISKWORLD 2026!" "RIMS Risk Manager of the Year Jeff Bray" "RIMS Rising Risk Professional Award Winner Tyler Vaughan" "Sports, Spotlight, and Risk Leadership with Rich Lenkov, Founder and CEO of SERMA" "Supply and Bike Chains with Emily Buckley" (2024) "Absence Management with Ondrea Matthews"   Sponsored RIMScast Episodes: "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation!  

At RIMS RISKWORLD 2026, Neil DeBlock of Zurich North America reflects on the dramatic evolution from paper files and road adjusters to AI-powered claims technology shaping the future of … Read More » The post How AI Is Transforming Workers' Comp Claims Handling appeared first on Insurance Journal TV.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Ward Ching and Aaron Olson of Aon about their recent session at RISKWORLD 2026 and the book they co-authored, Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice, and Risk. They discuss the dizzying, disruptive transformation in today's market, where conventional risk management frameworks, tools, and solutions have become increasingly ineffective. They explore technological innovation in terms of the new powers of next-generation microprocessors and the accompanying robustness of machine learning-based analytics. Aaron explains how he built an AI analysis agent over a weekend. Aaron and Ward discuss their book and how to use it to help you and your organization navigate disruption. Listen for insight on how to use disruption without being disrupted in the risk ecosystem.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our topic is strategy and change in a world full of innovation and disruption, and we will be joined by our guests, Aaron Olson and our friend Ward Ching of Aon, but first… [:45] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep will be held on June 9th and 10th. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. Links to registration are in this episode's notes. [1:01] Webinars. On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:17] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [1:36] On with the Show! Our guests today are, respectively, the Executive Vice President at Aon Corporation and a Managing Director at Aon Corporation. They are Aaron Olson, making his debut on RIMSCast, and our good friend Ward Ching, also a former RIMS-CRMP Commissioner. [1:52] They presented a session at RISKWORLD 2026, titled "Strategy and Change: Understanding Disruptive Innovation Through Insight, Choice and Risk." They recently published a book, Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice, and Risk. [2:11] We will talk about the risk management practices, philosophies, and frameworks that went into the book and the session, what it took for Mr. Olson to build an AI agent, and how you can assess whether this is the sort of business decision for your organization. Let's get to it! [2:32] Interview! Aaron Olson and Ward Ching, Welcome to RIMScast! [3:12] Aaron says Ward and he work together at Aon, and they work with risk managers around the world. They also do some academic work. Ward, at USC, Marshall School of Business, and Aaron, at Northwestern, just outside Chicago. [3:25] Aaron says that for 20 years, he's been working as a member of the faculty there, part-time, teaching on the topic of the intersection of strategy and leadership. [3:38] About 10 years ago, Aaron did some research and published a book focused on the intersection of strategy and leadership. He looked at different companies and examples to learn how individuals lead strategy. [3:55] Ten years later, Aaron and Ward talked about it regarding the clients they work with and the challenges risk managers working in those organizations face. In the last 10 years, the world has gotten a lot more complicated and volatile, and is facing more and more risk. [4:16] Aaron and Ward decided to do some new work. This time, it's not strategy and leadership; it's strategy and disruptive change. [4:27] They looked at what lessons they could learn from COVID, from the supply chain, and from the unpredictable rising cost of doing business. What can we do about that? [4:42] How can companies be successful? How can risk managers be successful? What is the changing, evolving role of risk in the midst of that?  [4:53] Ward says one of the interesting things is that disruption has always been part of the economic environment. It is now a hyper-important part of economic decision-making in every industry vertical. [5:12] Ward's research in the disruptive innovation space started with a paper for RIMS that he did with Paul Walker several years ago on the issue of enterprise risk management tools and capabilities. Paul and Ward did the research, looking at all the tools. [5:38] Then February 2020 rolled around, and the world went completely dark. Everybody predicted that there was exposure to a pandemic, but nobody had any thought of how it would go from ranking number 25 or 50 on risk registers to number one, overnight. [6:14] Paul and Ward asked each other what was underneath this. Why did all of our tools fail? They found an interesting literature base around disruptive innovation. Ward says a lot, if not all, of our core disruptive events throughout history started with a technological innovation. [6:38] Aaron and Ward went further, looking at all the disruption in the marketplace now: new silicon chips, our speed toward AI, agentic AI, the things we can do now with data that we couldn't do or see five years ago. That's creating a very interesting, disruptive environment. [7:10] Disruption needs to be considered as part of the decision calculus for most organizations. Similarly, disruption is a new risk issue that has not been well understood, measured, or evaluated in the past. That's what Ward and Aaron were trying to look at. [7:30] In the book and at RISKWORLD, Ward and Aaron looked at it from several perspectives: How is disruption creating advantage? How is disruption creating new opportunities? How is it changing the way we think about risk, risk management, and risk mitigation? [7:58] Aaron says one of the things we uncovered as we got into this was that going back 10 years ago, on any given day, your average executive was maybe dealing with one crisis or issue coming at them. [8:14] Aaron says that today, an executive coming into the office or dialing in on Zoom is probably dealing with two or three simultaneous challenges, and that has a compounding effect. Technology is an accelerant and also an amplifier. [8:37] The combination of speed and severity means that organizations deal with an external environment that has multiple concurrent risks. Then you have internal execution risks, and they, too, are more complicated. [8:52] Take AI, as an externality, but also inside. All kinds of new risks are surfacing as AI is changing workflows, processes, and the nature of people's jobs and work. That is a level of complexity we have not had to deal with in most of our professional lifetimes. [9:12] Ward says most of the tools that we use to mitigate those risks are now obsolete. When you look at a heat map, it is point-specific. You look at various risks along a series of axes. These point-specific numbers or locations don't answer the question, "So what do you do?" [9:59] You understand where the risk might be, on a frequency, severity, or likelihood scale, but if you were the CFO, you would be asking, "What investment do I have to make to move something that's at an extraordinarily high, or even uninsurable space, into someplace more acceptable?" [10:18] Those comparative static tools don't give you enough information to make significant decisions, especially now that a problem may have adjacencies that impact a decision, so that needs to be broader in terms of its context and execution. A lot of those tools don't work now. [10:41] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [11:02] Register now for the Second Annual RIMS Texas Regional Conference, which will be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. Advance rates are available through June 5th. [11:16] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [11:29] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [11:46] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. Early-bird registration will open in June. [12:01] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [12:15] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. Details will follow on RIMS.org. [12:24] Let's Return to our Interview with Ward Ching and Aaron Olson! [12:33] Aaron built the strategy agent at Aon. Aaron shares how it was done. He was a one-man team on this project. Aaron tells about vibe coding. He took a routine that he and Ward have been doing for years, and he realized that an agent could do some of that work.  [13:36] Aaron and Ward have been working together for a couple of years. On the academic side, they wrote a book and codified some of the work they do with their clients. Aaron says they took a framework and turned it into a simple worksheet. [13:53] Aaron now uses that worksheet to prepare for clients. It's an analysis tool for what is going on in that client's industry, what key issues they need to deal with, and what insights, decisions, and risks Aaron will discuss with them. [14:09] As Aaron started to look at agents, he realized that he didn't have to do all that work himself. [14:16] Aaron uses ChatGPT. There's an ability within ChatGPT to create a Custom GPT. It asks you to follow a set of instructions. It isn't coding, just guidance. [14:36] Aaron wrote out his guidance, uploaded his worksheet, and constructed prompts. A prompt is a good question to ask. Aaron preloaded some good prompts to get an agent. [14:52] Aaron, Ward, and others use this agent, which they call the Strategy and Change Diagnostic. They input the client's name and problem, the type of conversation they want to have with the client, the situations they are focusing on, and the present disruptive changes. [15:16] Aaron asks the agent, "What are the things we should be focusing on?" It comes back with a lot of the work Aaron would have had to think through himself. It's pulling on the logic he taught it and pulling real-time, relevant financial information from the internet. [15:43] Aaron says it would have taken a team of people working for months to get the same result. We're living in a different world. [15:52] Ward says that Aaron can change the persona of the agent. The agent is looking at it from one point of view. It can look at it from a different point of view or a competing point of view. All of those will generate additional insights into what the client's issues might be. [15:14] Aaron built the Strategy and Change Diagnostic over a weekend and refined it by trying it out with some real situations. Aaron thinks this type of agent is in the future for all of us. [16:27] Ward says, Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice, and Risk, and the recent RISKWORLD 2026 session, cover disruption and disruptive innovation in a clinical way, and case studies, new tools, and responsibilities that are coming out.  [16:54] Ward talks about the necessary skills. Many people in risk management are asking what skills and capabilities they need to be successful going forward. That's a big issue. What is the impact of AI? What is the impact on data analysis and on the types of things they need to do? [17:19] Risk professionals wonder if they should be coders, actuaries, or engineers. Ward says, the answer is yes. They need to be all of those, going forward. That's a big issue in question. [17:28] Justin says an editorial strategy shift at RIMS is that it's no longer just about identifying risk. It's how to leverage it to do your job better. It's what you need to know now to enable you to succeed later. It's not just about the "what." It's about the "why" and the "how." [17:52] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [18:14] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [18:27] General Grant applications are open, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [18:39] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [18:48] The Spencer 2026 Funding Their Future Gala will be held on Thursday, September 17th, from 6:30 to 10:00 p.m. at a different venue this year. It will be at the fabulous Waldorf Astoria in New York City. [19:03] Sponsorship opportunities and benefits are available now. A link to the Funding Their Future Gala is in this episode's show notes. [19:12] Be on the lookout for some of the honorees and Spencer Board members to join RIMScast in June and July. [19:21] Let's Conclude Our Interview with Ward Ching and Aaron Olson!! [19:32] Aaron says this is the second book he has written and the first book he has written with Ward. They enjoyed the opportunity to bring together some things they had been doing in their respective professional backgrounds. [19:46] The book is an investigation into what is driving us to live in a world that's more complicated and faster-moving, where risk is different, and we need to work differently because of it. [20:01] They go into practical things with three different lenses on the issues we all face in a world of disruptive change. The lenses are insight, choice, and risk. They get to the practical aspects of what that means for us. [20:15] They address success in a world that's more complicated, is moving faster, and has a lot more volatility that's not going away. They use case examples. They look at real organizations. What happened to GE over the last decade? How did they navigate changes in their industry? [20:35] How did S&P Global evolve from a very different business a decade ago? They were McGraw-Hill, the publisher. These are real companies that have faced real challenges, and they've taken proactive approaches that have evolved the way they do business. [20:52] The book brings it down to individuals and how you lead through that kind of change. There are practical things and a few tools to use. [21:05] Ward adds that it points to some additional literature to think about. [21:09] Clayton Christensen at Harvard did a lot of interesting work associated with the innovator's dilemma, in which he was asking the question, "How do organizations that have been innovative throughout their lifespans, when they continue to be innovative, fail?" [21:28] Ward says it has to do with disruptive elements in the marketplace. It raises the question of how you, in risk management, can help the organization think slightly disruptively to help it push through the biases and barriers that might cause it to have difficulties going forward. [21:40] The issue of understanding disruptive innovation is part of the new toolkit that the next generation of risk professionals is going to have to have, sharpened up, with a strong acumen around, to help their organization succeed going forward. [22:09] Those are some of the more subtle elements of the book. It also talks about a risk ecosystem as opposed to separate distinct property and casualty, wealth, well-being, and more. [22:27] They're not in separate locations; they're in an ecosystem. The data is showing us how they interact with each other. New skills, new capabilities, and new perspectives are highlighted in the book. [22:44] Special thanks again to Aaron Olson and Ward Ching of Aon for joining us here on RIMScast! Remember to check out their book Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice, and Risk. It is available worldwide right now. [22:57] If you are looking for the slides from their RISKWORLD 2026 presentation, open up the RIMS Events app and go to the Attendees Service Center. Also visit RIMS.org/ASC. Navigate over to their names, and you should find it. [23:13] Be sure to check out the links in this episode's show notes for the past appearances of our friend Ward Ching. [23:20] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [23:48] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [24:07] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [24:24] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [24:41] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [24:54] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [25:06] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | Registration Opens in June RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy RISKWORLD 2026 Presentations Available via Attendee Service Center — www.RIMS.org/Asc — and via the RIMS Events App Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | June 16‒17, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction | May 28 | Presented by Zurich RIMS.org/Webinars   Related RIMScast Episodes: "Live from RISKWORLD 2026!" "RIMS Risk Manager of the Year Jeff Bray" "James Lam on ERM, Strategy, and the Modern CRO" "Rethinking the Impact of Disruption on ERM Tools and Processes with Ward Ching and Dr. Paul Walker" "Disruption and the Digital Age with Ward Ching"   Sponsored RIMScast Episodes: "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Ward Ching, Managing Director, AON Adjunct Professor of Risk Management, Marshall School of Business, University of Southern California   Aaron Olson, EVP, Enterprise Client Group, Exec Sponsor, University Partnerships, AON Lecturer, Northwestern University   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Jennifer McNelly, CEO of the American Society of Safety Professionals, about her wide-ranging safety career, the ASSP publishing the first U.S.-Based standard on risk assessment and management, the ASSP's Standards-Based User Groups, and how safety practices are not about worker behavior but overall organization system safety improvement. Jennifer shares her excitement about National Safety Month and the upcoming Safety Conference + Expo 2026, from June 15th through 17th in Anaheim, California. Listen for inspiration on closing the safety gap in your organization.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are releasing this episode ahead of National Safety Month in June, and our special guest is Jennifer McNelly, the CEO of the American Society of Safety Professionals, but first… [:43] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep will be held on June 9th and 10th. The next RIMS-CRMP-FED Exam Prep with AFERM will be held on June 16th and 17th. Links to registration are in this episode's notes. [:58] Webinars. On May 21st, GRC returns to present "Is Your Fire Protection Strategy Outdated? Emerging Risks Are Changing the Rules." [1:10] On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:25] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [1:43] If you plan to submit a session for the RIMS Canada Conference 2026, today, the air date May 19th, is your last day to do so. Visit RIMS Canada to submit your session. We hope to see you in Quebec City, October 18th through the 21st. [2:02] On with the Show! June is approaching, and that means National Safety Month. That is also observed in several parts of the world. Who better to speak about safety than Jennifer McNelly, the CEO of The American Society of Safety Professionals (ASSP)? [2:20] Jennifer is an accomplished executive with more than 35 years of leadership experience in associations, government, and industry. She has been the Society's CEO since 2018, leading the global organization of more than 36,000 occupational, safety, and health professionals.  [2:36] Jennifer has some new risk management standards to discuss, under the safety umbrella. I also thought we would benefit from hearing her philosophies on safety and how the ASSP encourages its members to embed safety into their organization's culture. Let's get to it! [2:55] Interview! ASSP CEO, Jennifer McNelly, Welcome to RIMScast! [3:29] Jennifer McNelly and Gary LaBranche, CEO of RIMS, run into each other often at ASAE. They have talked about connecting. Jennifer is excited to be here on RIMScast to talk about collaboration, partnership, and keeping everybody safe at work. [4:04] Jennifer asks every safety professional she connects with, "Tell me your story." She says she is an amalgamation of many stories that have led her to be the CEO of ASSP. She started in the political world. She says you've got to build strong partnerships to move things forward. [4:26] That is the foundation of the mindset Jennifer brings to the ASSP. After politics, she spent time in the U.D. Department of Labor in the capacity of public-private partnerships. That's how you move things forward. [4:41] This was followed by a deep commitment to the people in this nation who make things through leadership at the Manufacturing Institute and Global Stages. All of Jennifer's career has been at the intersection of people and the world of work, and making the world a better place. [4:58] Jennifer says now she gets to do that with unbelievable honor for those who get up and run the world's economy every day, ensuring they get to go home as they were and better than when they walked in the door. [5:11] Jennifer says that's about economic contribution, keeping everybody safe, and the commitment and heart of every safety professional. Safety brought her in the door, with a very unique lens of how we need to work together to send everybody home. [5:32] Jennifer has been with ASSP for eight years, moving into her ninth year. She brings energy, passion, and connection to what ASSP is doing. She likes to think of herself as the catalyst for impact, to make workers' safety, health, and well-being an inherent right for everybody. [6:11] Jennifer says everyone's got a safety story. Often, the thing that hits the headline is the "Somebody did …" and there was a whole set of events. [6:23] Hence, today's conversation, anchored in the importance of risk identification, risk management, and integration into thinking every day by everyone. [6:33] It's not just one thing that starts it. It can be the mindset of someone who's had a bad morning and lost childcare for their family. It can be about a system in process. It can be about a bad piece of equipment. It can be a bunch of other things, but what we hear is the headline. [6:53] Jennifer says our goal is to unpack the story and get to the root cause and improve it, for everyone. [7:00] Jennifer says the ASSP has over 35,000 members globally. A lot of the membership is in the industrial space. They have partners in insurance, and those who service as well as those who produce. ASSP calls this the Safety Ecosystem. [7:26] Justin says RIMS sees that Enterprise Risk Management is leading the way for the future of the profession. Justin asks how Jennifer sees safety risk integrating more deeply into ERM frameworks. [7:42] Jennifer said in 2019, early in her career at ASSP, her pitch to the Board of Directors was for moving safety professionals and workers from basic compliance to a complete integration of human capital, total worker health, and principles like prevention through design. [8:10] Risk Enterprise Systems are critical to that objective. ASSP just released a new standard, "ANSI/ASSP Z310.1 Risk Management — Guidelines for Assessing and Managing Risk." [8:34] It's about management systems, operating in an organizational context, and creating and documenting a comprehensive approach. It's about stakeholder engagement, culture, and inclusivity. [8:49] It also has an important mindset: Change always happens. Therefore, it's about dynamic operations, not static operations; about how you use clear and available information to lead forward, and consider culture and human factors, always with continuous improvement. [9:11] Jennifer says we can't move forward without all those factors integrated into Enterprise Risk. [9:18] The ASSP's Z310.1 Committee is comprised of 28 organizations. ASSP plays an important role in the marketplace. Its logo is a shield, and its members are guardians of workplace safety. Every one of them is a workplace superhero. [10:05] Jennifer loves all superheroes because she loves the potential of hope that each one of us has that power. [10:12] One of the things that is unique about ASSP's market position is its global-based standards. It brings companies together around the table to flesh it out. It's not a single company. [10:34] Jennifer says injuries, serious incidents, and fatalities happen in an environment that's complex, dynamic, and always changing. By bringing together those who are doing the work, we gain consensus. [10:49] Justin says there is a link to the press release in this episode's show notes. The press release mentions how ANSI/ASSP Z310.0 builds off the ISO 31000 standard. There's a lot of value in it for RIMS members. Please check out the link in this episode's show notes. [11:17] Justin notes that ANSI comes with a lot of heft. The RIMS-CRMP is ANSI-accredited. RIMS is the only globally recognized risk management program through ANSI. [11:37] Jennifer says that early in her career, she sat on ANSI's 17024 PCAC, the group that approved those kinds of standards. She is a firm believer in business driving business outcomes. They know what works. [11:54] The workers doing the work and the business conducting the business know what works. Jennifer talks about cross connections and says we should be talking and doing more together. Each of us has a critical role. [12:42] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [13:04] Register now for the Second Annual RIMS Texas Regional Conference, to be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. Advance rates are available through June 5th. [13:18] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [13:31] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [13:49] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. The call for educational sessions has been extended to May 19th, the air date of this episode. [14:06] Submit your session today. Early-bird registration will open in June. [14:12] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [14:27] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. Details will follow on RIMS.org. [14:37] Let's Return to our Interview with ASSP CEO Jennifer McNelly! [14:44] Jennifer says standards bring consensus together, but members are asking how to use the standards and what to do with them. [15:03] Members want the playbook because they are busy, underresourced, and over-expected. They have a stressful work environment. The ASSP launched Standards-Based User Groups in January of this year. [15:20] The ASSP's partners collaboratively spend close to $7 million a year investing in keeping the standards updated. How do you move the standards to market? What do you do with them? There are hundreds of thousands of companies around the world that use the standards. [15:38] To somebody who is just starting that journey, it's a challenge. The ASSP's Standards-Based User Groups dig into the company's maturity, the maturity of the safety professional, and help them move one step further. [15:59] The point of Standards-Based User Groups (SBUGs) is to make the standards accessible. Jennifer says there are a couple of unique angles to the approach they are taking. [16:29] The ASSP's Standards-Based User Groups approach starts where serious incidents and fatalities happen, fall from heights and energy controls, two things where there is a lot of technical expertise in lock-out, tag-out, and fall prevention standards. [16:51] Jennifer says there is a disruption happening in business and in safety, the impact and influence of Big Data, AI, and analytics. The third SBUG is AI and Safety. Through technology partners, by integrating the Standards, it will level up what people have access to. [17:23] The ASSP's traditional routes are through the safety professionals. By putting Standards-Based User Groups in the hands of the reporting systems they have to use every day, that is scaling in a way that has never been done before. [18:06] The focus of the Standards-Based User Groups is scaling great knowledge in a framework denied by the industry. [18:16] Justin says it becomes a strategic risk management function. Jennifer says it is built into enterprise systems to drive action and make better decisions. [18:30] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [18:51] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [19:06] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [19:18] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [19:27] Let's Conclude Our Interview with the American Society of Safety Professionals CEO Jennifer McNelly! [19:47] Justin points out that June is National Safety Month. Jennifer thinks every day is National Safety Day! National Safety Month puts a consistent spotlight on safety. She believes safety professionals need more celebration. [20:34] Jennifer loves to tell their stories. She is grateful to any safety professional and to anybody in the ecosystem listening today. Thank you for everything that you do. [20:48] June is coming, and we are not done. Jennifer often talks about the gap. She uses the roots of ASSP and the Triangle Shirtwaist Factory Fire as a real example that the gap is always going to exist. [21:12] Jennifer speaks of the Triangle Shirtwaist Factory Fire. It is the roots of the ASSP. There remains a building on the corner of NYU where about 149 individuals perished jumping out of windows because the doors were locked. It is the foundation and grounding of safety in the U.S. [21:36] Jennifer repeats that it is a real example of the gap. A couple of years ago, the ASSP Board of Directors went to the dedication of the building. Every year, Taps is played, and the ladder goes up, and it stops at the sixth floor. [21:49] You see the bunting and the gap between where we are today and where they were then. Someone next to Jennifer said, "But it needs to go higher!" That's the point. There is always a gap because business is dynamic and ever-changing. [22:06] Our responsibility as safety professionals and associations is to fill the gap and get ahead of it. With serious incidents and fatalities, the data has been flat for 10 years. Let's do something different. [22:23] Let's think about the principles of prevention through design and crack the C-Suite decision-making. Jennifer talks about safety as good governance. How safety succeeds is about the economic decision-making process. [22:44] Jennifer says it's got to be built into business in every way, shape, and form. Safety is never a moment or a one-and-done. It is a part of every part of business decision-making. [23:07] NIOSH does tremendous research on the future of work and how dynamic it is. Every year, Jennifer calls senior executives and talks through critical things. She does that because research says one thing and the ASSP membership says another. There's a gap. [23:28] Often, in that gap, Jennifer hears the term "research to practice." That leads back to the Standards-Based User Groups. What does the research say, what does the data say, and how do you scale it?  [23:42] There are several forces at play when looking at what's shaping the world of work. There's workforce instability; a fluidity that never existed before. It's one of the biggest emerging risks Jennifer sees. [24:02] Next is the fact that safety is not a metric. Then there's the pace of change and technology, and the influence of leadership. Jennifer believes that leadership happens in every role and function. How do we empower individual and corporate leadership? [25:15] If a company is doing minimal compliance with the law, data tells us that's not enough. Jennifer said a volunteer was excited to tell her they had removed cell phones from a site. But cell phones can be used to photograph risks you hadn't seen. [25:54] First, understand what problem you are trying to solve. Is it technology looking for a problem, or a problem looking for a solution that the technology enables? That's the approach ASSP is taking. [26:13] If we continue to have individuals die every year, falling from heights, how do we solve that through technology, because somewhere in that complex system, things are not where they need to be. That's a statement of forward motion. [26:39] Jennifer says she thinks there is a huge opportunity, but it needs to be ethically used, transparent, and clear what problem we are trying to solve. AI in safety isn't new. ASSP worked with MakUSafe AI for three years as they started studying technology advancements in safety. [27:04] Jennifer says wearables have been around "forever." They're a good practice. Someone has seen the problem and identified the solution, and our challenge is replication, application, and scale. ASSP is striving toward that and how technology can enable it. [27:24] Jennifer says guardrails are something we hear from membership all the time. Jennifer wants it to be done in a way that integrates it seamlessly, not a new shiny penny. Jennifer is very careful to make sure changes are made at every level. This isn't a blame-the-worker approach. [27:53] This isn't Big Brother is watching somebody in the workplace. This is about empowerment in an era of action. How does information become a learning opportunity to understand A + B + C + D? [28:18] Jennifer says when she thinks of behaviors and actions, she thinks of the C-Suite decision-making. [28:26] What does the Board of Directors governing an enterprise know and understand about the human capital management and decision-making on the capital investment side of safety in the workplace? [28:39] Justin notes registration is open for Safety 2026, held from June 15th through 17th in Anaheim. It's the 65th Annual Conference and Expo. Jennifer calls it a Safety Revival! For Safety members, coming together to learn, connect, and grow gives a unique sense of belonging. [29:19] Jennifer calls it a battery-filling, energizing, impact like no other. It's a great opportunity to see what is on the leading edge and solve problems. The Expo is not a sales pitch. Everybody on that floor has to have a reason and something to share with safety professionals. [29:45] Jennifer describes the 200 classes. There are over 700 program applicants each year. There's too much content and not enough time. There's top-notch technical content and the opportunity to connect with someone that you know you can call and get an answer from. [30:20] Jennifer's favorite thing is to run around, hear stories, and take selfies. It truly is a welcoming and impactful event. [30:32] Jennifer says she's the reason people stop the second they walk in the door. She reminds them why they're there. Last year, she wore an ASSP pickleball outfit to show it's about not just being together but also having fun. Sometimes we forget that connection and fun. [31:14] People are going to learn, but have a great time while you're doing it! Jennifer says she will see everybody onstage! Anaheim will be the place to be! [31:29] The link to the 65th Annual Conference and Expo for Safety 2026 is in this episode's show notes. Justin says it has been such a pleasure to connect with you, finally, and get the word out for National Safety Month. We're priming for National Safety Month. [32:07] Special thanks to ASSP CEO Jennifer McNelly for joining us here on RIMScast! There are lots of links in this episode's show notes. Visit ASSP.org for more information, as well as the Safety 2026 Conference at Safety.ASSP.org. [32:27] Also in this episode's show notes are the links to RIMS coverage of Worker Safety and prior coverage of National Safety Month. A lot of this information is evergreen, so I hope you'll check it out. [32:39] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [33:08] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [33:25] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [33:43] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [34:00] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [34:14] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [34:26] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | rimscanadaconference.ca | Submit Your Session by May 19! RIMScast on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now RIMS Texas Regional Conference 2026 | Aug. 10‒12 in San Antonio | Register Now! ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada – Episodes Now Live RISK PAC | RIMS Advocacy www.assp.org | safety.assp.org | June 15‒17 "ASSP Publishes First U.S.-Based Standard on Risk Assessment and Management" Jennifer McNelly — ASSP Bio Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | June 16‒17, 2026 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops Upcoming RIMS Webinars: "Is Your Fire Protection Strategy Outdated? Emerging Risks Are Changing the Rules" | May 21 | Presented by Global Risk Consultants "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction" | May 28 | Presented by Zurich RIMS.org/Webinars   Related RIMScast Episodes: "RIMS Risk Manager of the Year Jeff Bray" "Risk Leadership on the Construction Frontlines with Cynthia Garcia" "Rubber Meets Risk: Lessons from John Baldwin of Discount Tire" "Company Safety and RIMS Chapter Leadership with Tamieka Weeks" "Security Risks with William Sako" "Safety and Preparedness in 2024 with National Safety Council CEO Lorraine Martin" "Opioid Awareness and Workers Comp Risks with Raji Chadarevian of the NCCI"   Sponsored RIMScast Episodes: "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" (New!) | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Jennifer McNelly, CEO, American Society of Safety Professionals   More from ASSP:   Standards-Based User Groups (SBUGs) News release: ASSP Announces Strategic Framework to Drive Safety Beyond Compliance; Avetta Collaboration Provides First Industry Proof Point Webpage: Standards-Based User Groups   AI white paper News release: ASSP Releases White Paper on AI and the Evolving Role of EHS Professionals White paper: AI and the Evolving Role of EHS Professionals.pdf   2026 Corporate Listening Tour report News release: ASSP Report Identifies Five Critical Themes Shaping the Future of Workplace Environmental Health and Safety Webpage (with 2026 report): ASSP Corporate Listening Tour   Production and engineering provided by Podfly.

At RIMS RISKWORLD 2026, Ashley Karg of McGill & Partners joins Insurance Journal’s Chad Hemenway to discuss how nuclear verdicts and tighter underwriting scrutiny are forcing companies to … Read More » The post How Nuclear Verdicts, PFAS, and Coverage Scrutiny Are Reshaping Casualty Insurance appeared first on Insurance Journal TV.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin takes the opportunity of RISKWORLD 2026 to interview on-site two session co-presenters, Sandy Avina and Angel Guerra, and a fellow podcast host, Joel Appelbaum. Sandy and Angel co-wrote a book, Riskfetti: Risk Management for the Rest of Us, which comes out on May 18th. They discuss their careers, how they came to team up to write, and why this book, now. Justin and Joel discuss Joel's career in risk, from underwriter to Chief Content Officer at the International Risk Management Institute (IRMI) and podcast host of The Edge of Risk. Listen for thought leadership on communicating risk to business professionals and translating complex risk research into media content.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] About this episode of RIMScast. It was recorded live, on-site at RISKWORLD 2026, in Philadelphia. It's one of my favorite episodes of the year. We will be joined by a range of guests. But first… [:43] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep Course will be on May 13th and 14th. The popular CBCP and RIMS-CRMP Exam Prep Bootcamp will be held from May 18th through the 21st. The next RIMS-CRMP Exam Prep Course will be held on June 9th and 10th. [1:02] Links to registration are in this episode's notes. [1:05] Webinars. On May 14th, Origami Risk will return with a new session, "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility." [1:17] On May 21st, GRC returns to present "Is Your Fire Protection Strategy Outdated? Emerging Risks Are Changing the Rules." [1:27] On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:41] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:00] On with the Show! We are live on the exhibit floor at RISKWORLD 2026 at the Philadelphia Convention Center. There's a lot of great energy. That energy transferred from the stage to our booth! My first guests are from our LA RIMS Chapter, Sandy Avina and Angel Guerra. [2:23] Sandy and Angel co-presented the session on Tuesday, May 5th, "Between Truth and Trauma: Investigating the Invisible." RIMScast caught up with them right after they came off the stage to discuss the state of mental health claims and get a preview of their new book. [2:37] Sandy and Angel co-authored the book coming out on May 18th. It's called Riskfetti: Risk Management for the Rest of Us. We're going to have a lot of fun! Let's get to it! [2:44] Interview! Sandy Avina and Angel Guerra, Welcome to RIMScast! [2:58] Angel says this is her third RISKWORLD and she loves it! She last attended two years ago in San Diego. Sandy says this is her first time at RISKWORLD. She's trying to experience everything, and it's like trying to put ten pounds of sugar in a five-pound bag. She's getting there. [3:17] Sandy is The Riskfluencer on TikTok. [3:25] Angel has a business, Beauty and Beast in Business. [3:28] Together, Sandy and Angel make Riskfetti. [3:41] Angel started in the mailroom of SRS 20 years ago, moved through Claims, Operations Management, and Global Risk Management, and is now a VP at Arrowhead Evaluation, which does independent medical and risk consulting. [4:11] Angel's variety of experiences lets her see everything and gives her knowledge of risk management and the ability to manage a program well. [4:31] Right out of college, Sandy joined California's workers' compensation state fund as an adjuster. She loved it and started to learn other lines. She now works for California Schools JPA, a public risk pool supporting K-12 and community colleges. [4:54] Sandy leads the California Schools JPA claims program for property liability and workers' compensation. She loves it. [5:03] Sandy and Angel connected through LinkedIn. [5:25] Sandy and Angel presented a RISKWORLD session on developing the defense for psychological claims. Sandy says we're seeing the change in legislation for allowing mental-mental claims and not just physical-mental claims. [5:35] Dr. Ron Heredia was also on the panel. He spoke on how to crack defenses and properly investigate. There are red flags and also very truthful claims. As professionals, check your unconscious bias. Think about fact-finding without a specific agenda. [6:12] Justin points out that May is Mental Health Awareness Month in the U.S. Sandy partners wth Kind Souls Foundation, a non-profit that provides a warm, emotional support line for anybody with a work-displacing event. Sandy notes the struggles of the Sandwich Generation. [6:56] Angel says we see people are being a lot more open about mental health and self-care, but there's still a stigma to it. It's important to recognize that, not just in May, but throughout the year. [7:15] Justin mentions a guest from a couple of weeks ago who served in the Canadian military. He was very open about his Post-Traumatic Stress Disorder. They had a wonderful conversation about it. Justin doesn't want to bring it up if somebody doesn't want to talk about it. [7:40] Sandy says, when you have the conversations more often, and they're more open, people feel more comfortable bringing it up. [7:50] Sandy and Angel's session was "Between Truth and Trauma: Investigating the Invisible." Angel says a lot of people told them they were very happy with the session. They see increases in legislation that allow for more mental-mental claims, and it's a challenge to keep up. [8:11] Angel says having Dr. Ron Heredia with them gave a view of what it looks like from the employer's side. Are you investigating those claims, recognizing the importance of very clear documentation? If it's not in writing, it didn't happen. Have a doctor help with questions to ask. [8:43] Riskfetti: Risk Management for the Rest of Us is coming out on May 18th. Sandy says she and Angel both started in claims, and they found that a lot of employers they spoke to didn't know risk management. They didn't understand their coverage or insurance, or how it works. [9:12] Sandy says a lot of the education in the industry today is very academic and is meant for the risk managers. Employers are not going to go get their CPCU or take webinars on coverage or understanding endorsements. They assign someone else to do it. It's split in the organization. [9:35] Sandy says nobody is speaking to that audience from a layperson's perspective in a way they'll be receptive to. Sandy said we wanted to make that information accessible, so we created a book that is fun, engaging, and more accessible for business owners. [9:49] Angel says they used case studies, fun stories of claims they had managed or others had managed. It's very engaging. People say they've read the book and laughed. It's for HR Managers, Safety Managers, and CFOs, who don't understand insurance but have responsibility. [10:41] Angel's advice for beginning risk professionals: Find a community of individuals who are willing to support you and talk about the hard things and cheer you on when you're not sure if insurance or claims is where you want to be. It's not an easy industry, but a wonderful industry. [11:00] Sandy's advice for the young generation is to make content about this industry. If you are working in this industry, make your TikToks and post on socials. We need to hear from that generation. It democratizes the flow of information. They already do it for their personal life. [11:18] Sandy says, talk about your experience. I want to know what it's like for somebody coming into the industry right now. I know what it was like 23 years ago; I want to know what it's like now. That's the best way to get that information out there. We want to know those opinions. [11:40] Justin says, I love what you're doing. You've got a lot of great energy! Angel, Sandy, thank you so much for joining me on RIMScast. You were wonderful guests! I hope to see you again next year. [12:04] A Quick Break! There are so many other wonderful RIMS events coming up in 2026. The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [12:25] Register now for the Second Annual RIMS Texas Regional Conference, to be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. Advance rates are available through June 5th. [12:39] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [12:53] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [13:10] Save the dates October 18th through the 21st. We will be in Quebec City to celebrate the 50th Live RIMS Canada Conference. Booth sales are already open. The call for educational sessions has been extended to May 18th. Early-bird registration will open in June. [13:29] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [13:44] The RIMS ERM Conference 2026 will be held on November 18th and 19th in Columbus, Ohio. Details will follow. [13:52] Our final guest is Joel Appelbaum, Executive Vice President and Chief Content Officer at IRMI, the International Risk Management Institute! Joel is the host of IRMI's podcast, The Edge of Risk. He was formerly a Chief Risk Officer. [14:10] We are going to talk all about our shared interests and the importance of risk management education, and some of the trends that are emerging, some that are overhyped, and what he's seeing on the risk landscape. Let's get to it! [14:23] Interview! Joel Appelbaum, Welcome to RIMScast! [14:28] Joel Appelbaum is the Executive Vice President and Chief Content Officer for IRMI. Joel says he is used to asking the questions; he says it will be really cool to be asked the questions. [14:47] Joel is the host of The Edge of Risk. When they launched, six years ago, the idea was to come up with more relevant content, quickly, by talking to leaders. In the last year, it has grown by 60%. There's a need for insurance podcasts. It's still growing. [15:24] Justin notes that Elise Farnham was a recent guest. Elise teaches for RIMS. Justin says insurance podcasts share the same space, and there's some natural crossover. Justin and Joel sat together the day before at the main stage keynote. [15:53] Justin asks Joel about his having been an Enterprise Chief Risk Officer, when Enterprise Chief Risk Officers first came into vogue. He felt there were not a lot of resources for being a good ECRM, after coming from an underwriting background with CPCU and IRMI. [16:22] It was a challenging time. Joel cites Adam Grant's theme of low ego but honestly trying to help. Joel remembers bringing up to his boss that IT could be a risk, and being yelled at by his boss for about an hour for yellow-flagging IT. [16:53] Joel loves where Enterprise Risk Management has gone. It's necessary to identify risks in a positive way and deal with them proactively. [17:06] Joel says when it started, it was a rough job. Asking people what keeps them up at night, and sharing that with the board regularly, people weren't ready for it. It's a necessary and important job, but Joel found it to be one of the most challenging, alone on an island. [17:30] Joel thinks everyone who's been an Enterprise Chief Risk Officer or Risk Officer will tell you they do it with very few resources. Joel is glad to have an organization like RIMS to help. [17:50] Joel says he was in a lot of positions that IRMI serves. He was a Product Officer, an Enterprise Chief Risk Officer, a Chief Underwriting Officer, and a Chief Actuary. He did a lot of great things with a lot of great people. None of that prepared him to be a Chief Content Officer. [18:17] Being a Chief Content Officer is about writing and deep research. Joel works with people who research all day. [18:29] Joel learned that there's a disconnect between deep research and understanding coverage and analysis well, and practical insights and thought leadership for how it works in the real world. Parsing it and putting it together, and communicating it is the challenge. [18:53] Joel says it was a bit bumpy coming in and changing the way that IRMI approached things. Joel speaks of his joy of working for Jack Gibson at IRMI. [19:15] Joel says trying to put all the research into writing, keeping it up to date, making it useful, and changing it from just research to practical insights was challenging. It's been a great challenge, and he loves it. [19:29] Joel says he loves being at IRMI and working with people in the industry every day, trying to understand what they need. [20:16] Joel says he struggled with translating research into print, CE courses, and conferences. That takes time, and they need to be updated with the times, as well. A podcast can be simple. Yesterday, Justin and Joel came up with six or seven relevant questions and were ready to go. [20:48] Joel says podcasts fill the gap for the on-demand, necessary knowledge somebody might be seeking on the go. Joel's 30-something children listen to podcasts in the car or while they're exercising. You don't have to sit. Joel likes to do 20- or 30-minute Edge of Risk podcasts. [21:35] Joel says you can cover a very specific, timely topic. It doesn't take the effort of doing a research project or writing a book. Getting it to print takes time. If something changes in war, terrorism, or cyber, you can have a new podcast out in a day. [21:54] Justin says he finds it very gratifying when a guest's words on RIMScast are cited in a white paper. Seeing a reference to something he has done is very gratifying. Joel agrees. [22:10] Joel feels like it's such an honor to meet with thought leaders in the industry, sit down with them, and ask them questions. Joel says he gets great knowledge, meeting them, and learning a little bit about them personally. [22:43] Joel says it's gratifying when young professionals come up to him saying they know him from the podcast. Justin mentions people hearing him talking in the halls at RISKWORLD or RIMS events and recognizing him as the RIMScast guy or the webinar host guy. [23:26] Joel says AI has been a little overhyped. We all need to understand how to use it, but it isn't going to provide all the answers. A guest on his podcast told him at RISKWORLD they're going all in on AI for learning. [23:55] Joel says he gets that AI can be a quick fit for the answer you need. It's the right tool for the right time, but all risk managers know you have to have a lot of tools in your tool kit. AI doesn't replace foundational knowledge. [24:16] Joel's MBA helped him understand the other disciplines in the organization, to know when he was getting good information or bad information, and how to talk the language. [24:35] Joel believes that RIMS certifications and IRMI certifications help risk managers and insurance professionals understand the foundational knowledge. Then they know if they're getting a good answer from the AI. [24:50] Joel says that AI is trained on the internet. The internet has some flaws. Joel predicts AI will hit a learning curve. You're not getting the latest and greatest insights from RIMS or IRMI just writing a white paper on a new topic. Are you getting your AI from a reliable data source? [25:25] Joel advocates for using AI on IRMI material. They have an AI agent in beta now. IRMI has ReferenceConnect for its customers. AI is a good tool, but it's overhyped as a solution for everything. It's not going to solve all the problems. [26:00] It's a great tool if you're using it to gather data. Joel went to a great session at RISKWORLD with LineSlip about bringing all your different brokers' information together so you can get real insights. AI is a great tool to be used at the right place, at the right time. [26:23] You can't have it write all your letters because it doesn't sound like you. [26:37] Justin says an issue that's top of mind for him is PFAS, forever chemicals, because we need water to live. The second our water supply is bad, we've got much bigger problems. [26:52] Joel says Marsh did a presentation at an IRMI conference talking about how widespread the PFAS problem is. It should be on everybody's risk radar. Joel has put more filters in all of his houses. [27:21] Justin says Third-Party Litigation Funding is an emerging risk for RIMS. Joel has also done several podcasts on that. Liberty Mutual likes to call it Legal System Abuse. They had a great podcast on it with The Edge of Risk. [28:04] Joel says the concerning aspects are inflated awards and nuclear verdicts. ISO has introduced a new endorsement on disclosing third-party litigation funding. We've always needed tort reform. Joel thought that as an Enterprise Risk Manager, 20 years ago. [28:39] Joel says if you look at how all the other countries do it, the United States has a problem. It's really important to solve it. Insurance is a fundamental backstop and assistance to business. If the problem continues, insurers may start declining. How do you find solutions? [29:10] Joel thinks one of the solutions is to determine the appropriate amount of an award. Does $200 million make up for something where $2 million would suffice? [29:33] Justin says that he and Joel met up at the keynote with Adam Grant. They both enjoyed the keynote. Adam Grant spoke of unpleasant truths we may not want to hear. There's a difference between being loyal and being honest. [30:26] Joel doesn't have a problem delivering the unpleasant truths, but it has not always been great for his career. Joel says that in a lot of big corporate organizations, people want their allies with them. A new Chief Officer comes in and brings loyal friends with him. [30:54] Four or five years of being coddled later, the officer is gone. Joel worked for CNA for four different CEOs. Joel learned that integrity matters. He says if you communicate out of frustration or anger, it comes across wrong. [31:35] Joel says what he loved about Adam Grant's message is that people need to deliver the truth in a way that is kind and fair, and not fake. The people who tell you what you want to hear and that you're the greatest ever are the people you need to "get rid of." [32:08] Joel tells people that the knife gets sharper against the steel. Joel wants somebody who's sharpening the skill. He has to work harder for it. That's who he likes to surround himself with. Joel has his "board of governors" he goes to for help as a sounding board. [32:58] Leaders who surround themselves with yes-people are not going to last long. Justin asks about the compliment sandwich. Joel likes it if it doesn't come off as fake. Ask AI what's a fair way to deliver this, a compassionate way to give feedback. AI can give unbiased feedback. [33:45] Justin shares an experience where he successfully used AI to shorten and change the tone of an angry email message before he sent it. He was very pleased with the result, and the response was "OK." Joel admits he has delivered a lot of career-shortening emails. [34:44] AI should be thought of as a sounding board. Justin thinks the students coming into the profession probably already do so. Joel says certain types he has worked with don't handle negative feedback well from their peers. AI might be the best way for them to respond. [35:25] Joel has been to about 10 RISKWORLDs. He says the vibe this year is awesome. He feels there's a lot more opportunity for small connections. He loves the smaller talks. The conversation pods are great. There's always lots to learn, interesting people, and friends. [36:07] I love what you do at IRMI. Thank you for joining our show, RIMScast! I think very highly of your show. We've had a lot of the same guests. You're wonderful, and I appreciate all of your support! [36:35] Thanks again to all of our guests here on this special episode of RIMScast, produced live on-site at RISKWORLD 2026. We look forward to seeing you all in New Orleans next year for RISKWORLD 2027! [36:47] Be sure to check out last week's episode of RIMScast, featuring Risk Manager of the Year, Jeff Bray of Prologis. [36:53] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [37:22] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [37:40] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [37:58] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [38:14] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [38:28] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [38:40] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RISKWORLD Playlists:

At RIMS RISKWORLD 2026, Blake Giannisis, Executive Vice President, North American Property Practice Leader at Hub International, discussed how catastrophe exposure is evolving beyond traditional flood and earthquake risks, … Read More » The post How Catastrophe Risk Exposure Is Changing Across the Insurance Industry appeared first on Insurance Journal TV.

At RIMS RISKWORLD 2026 in Philadelphia, Robert Stein of Aon discussed how AI is helping insurance professionals automate routine tasks, enhance decision-making, and deliver stronger client service without … Read More » The post How AI Is Reshaping Insurance Workflows Without Replacing Human Expertise appeared first on Insurance Journal TV.

Rick Lawrence and Kevin Strong discuss how continued investments in technology, transparency, and innovation are helping insurers adapt to rising nuclear verdicts, social inflation, and the evolving needs … Read More » The post How Technology Investment Is Reshaping Commercial Insurance appeared first on Insurance Journal TV.

At RIMS RISKWORLD 2026, Tony Chimera, Chief Administrative Officer at Westfield Specialty Insurance, joins Chad Hemenway to discuss how honest conversations and following through on promises can help … Read More » The post Building Loyalty Starts With Listening to Your Team appeared first on Insurance Journal TV.

At RIMS RISKWORLD 2026, Arabella Ramage and Chris Mather of Lloyd's Market Association discuss how clearer policy language, standardized SME-focused cyber products, and proactive insurer services could help small … Read More » The post Closing the Cyber Insurance Gap for SMEs: Simpler Coverage, Smarter Protection appeared first on Insurance Journal TV.

Insurance carriers can help insureds avoid costly litigation by encouraging better use of free risk management resources and fostering early collaboration between claims teams, legal counsel, and defense … Read More » The post Preventing Claims from Becoming Nuclear Verdicts appeared first on Insurance Journal TV.

The rapid rise of artificial intelligence is driving unprecedented demand for larger, more powerful data centers capable of delivering the massive computational infrastructure needed to support next-generation AI … Read More » The post Why AI Is Fueling the Massive Data Center Boom appeared first on Insurance Journal TV.

At RIMS RISKWORLD 2026, Claude Howard, Vice President of Workers Compensation Claims at Travelers,  explains how strong employee training, open communication, and fast post-injury response plans are the … Read More » The post Protecting Workers Starts Before the Accident Happens appeared first on Insurance Journal TV.

At RIMS RISKWORLD 2026, Mario Vitale, CEO of Cyber Insurance Solutions at Resilience, told Carrier Management’s Elizabeth Blosfield that while AI is creating major efficiencies for insurers and … Read More » The post How AI Is Accelerating Cybercrime Risk appeared first on Insurance Journal TV.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews the RIMS 2026 Risk Manager of the Year, Jeff Bray, about his award and his career at AMB, which merged with Prologis early in his career. Justin and Jeff discuss how risk management earns a strategic seat at the table, how Jeff revived the ERM Program at Prologis, tying it to the business model, and how cross-functional risk management works at Prologis today. Jeff speaks of resilience in the face of polycrisis and climate risk, and working on what he has control over while being aware of the rest. Jeff shares his excitement for developing the next generation of risk professionals and about the amazing opportunity the risk profession holds for them today. Listen for insight on ERM, resilience, and building relationships.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] We hope you are listening to this episode of RIMScast while at RISKWORLD 2026, and we are gently reminding you to download the RIMS Events App to navigate the show successfully! [:29] About this episode of RIMScast. This is our annual Risk Manager of the Year episode. We are delighted to be joined by this year's honoree, Jeff Bray of Prologis. If you are listening to this on its release day of May 4th, you might see him onstage at RISKWORLD. But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep Course will be on May 13th and 14th. The popular CBCP and RIMS-CRMP Exam Prep Bootcamp will be held from May 18th through the 21st. The next RIMS-CRMP Exam Prep Course will be held on June 9th and 10th. [1:19] Links to registration are in this episode's notes. [1:22] Webinars. On May 14th, Origami Risk will return with a new session, "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility." [1:34] On May 21st, GRC returns to present "Is Your Fire Protection Strategy Outdated? Emerging Risks Are Changing the Rules." [1:43] On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:58] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:16] RISKWORLD 2026 is underway in Philadelphia, Pennsylvania! If you are here or on your way, be sure to download the RIMS Events App. It is free and publicly available. This will help you set your agenda and provide ample navigation through the Philadelphia Convention Center. [2:36] RIMS has also released its RISKWORLD Playlist, available through Apple Music and Spotify. Whether you want to get in the zone before RISKWORLD or relive the energy after it, these official RISKWORLD Playlists are available to keep the energy going. [2:53] Links are in this episode's show notes. [2:57] On with the Show! This is our special Risk Manager of the Year episode of RIMScast! This year's honoree is Jeff Bray. [3:08] Jeff is the Senior Vice President and Head of Global Risk Management at Prologis, a global leader in logistics real estate, with 1.3 billion square feet across 20 countries on four continents, and more than 6,500 customers focused on moving goods around the globe. [3:24] That is a lot of responsibility for one person, but don't worry, he's got a mighty team who shoulder it with him. [3:31] We're going to learn all about his work, the leaps and bounds he's made over the last 20 years, his involvement with the Spencer Educational Foundation, and what it takes to succeed in an increasingly uncertain world. We're going to have a lot of fun! Let's get to it! [3:46] Interview! RIMS 2026 Risk Manager of the Year, Jeff Bray, welcome to RIMScast! [4:07] Justin and Jeff met recently for his profile in RIMS Risk Management Magazine. [4:14] This episode is released on Day 1 of RISKWORLD. When people are listening to this, they might be seeing Jeff onstage accepting his award. Jeff says, first and foremost, he is looking forward to RISKWORLD; the award is a nice cherry on top. [4:37] Jeff is 20 years into his career, and he has only missed a few RISKWORLDs. [4:45] Jeff joined AMB Property Corporation in 2005, not knowing anything about risk management and knowing only environmental insurance, a few weeks before Hurricane Katrina. It was trial by fire. Then, Hurricane Rita and Hurricane Wilma hit. It was a transformational year. [5:34] There were two years in a row of serious hurricanes affecting the property insurance market. The challenges AMB had experienced transformed the way the insurance and risk management program has been run ever since. [6:02] AMB merged with Prologis a few years later, following a great financial crisis that occurred in June 2011. [6:32] Jeff says Prologis is an owner of logistics real estate. They don't operate any of the buildings. Jeff's purview is the 1.3 billion square feet of real estate in 20 countries, with around 60,000 assets. [6:47] Prologis has a couple of billion dollars a year of development activity. They have a renewable energy business and a digital infrastructure. [7:32] Jeff says it's critical to see properties first-hand. Warehouses are different in different countries, and seeing them helps solve problems when they arrive. Early on, he attended a captive owners conference in Bermuda, and meeting many peers accelerated his learning. [9:03] Through serving the business, Jeff built trust with senior leaders and the board. Jeff started by figuring out what people wanted or needed and helped them achieve it. He built strong relationships with every group; he's in lockstep with legal, finance, and business teams. [10:33] Jeff's risk team has seven members. He also has two members of the corporate security team. He has worked hard to grow the team as needed. He sees an opportunity with technology to scale the team's capabilities to focus on critical tasks. He's grateful for the team's efforts. [11:49] Risk management is centralized at Prologis. They operate as a consistent global program. Jeff is in San Francisco, with team members in the Bay Area, Denver, and one in Dallas. [12:45] Jeff says he takes advantage of every crisis and pays close attention to every near-miss. It's a reminder that this is why what we do is important. Sometimes it's all hands on deck. What can we do differently next time? [13:35] One big near-miss was a fire that arose from customer operations in a building, which didn't amount to much because the sprinklers operated properly. Jeff participates in Prologis's global safety board. They pay close attention to anything like a contractor injury. [14:06] June is National Safety Month. The Head of Safety of Prologis's Development Team plans Safety Month activities. Every project and team member will be involved. It sends a good message. They make it very clear to every contractor they hire that safety is paramount. [14:49] Justin says the leader of the ASSP will soon be a guest on RIMScast. Safety should be observed every month. Jeff says in the past, safety was something they focused more on when something happened, but now it's ingrained in the way they operate. It's not treated separately. [15:44] Jeff reestablished Prologis's ERM program. His ERM Committee is a sounding board with seven or eight global leads. The members are the Head of Internal Audit, the Head of Info Security, and others, who work closely across the risk register to ask, "What are we missing?" [17:14] The challenge in reactivating the ERM committee was getting the relevance right. For the first meeting or so, they brainstormed. Now it's operating at the right frequency with the right dynamic input. It will continue to evolve in every meeting. [17:55] They meet annually with the Audit Committee, and some years they meet with the Board of Directors. It evolves from the day-to-day Risk Register, working with the business teams. The Audit Committee and the Board are very invested in what the ERM Committee does. [18:34] ERM at Prologis is tied to what's relevant to the CFO, the Chief Legal Officer, and other stakeholders. With the CFO, it's tied to earnings per share and net operating income impact. Jeff is always looking at what the business is looking to accomplish and how ERM can support it. [19:17] A Quick Break! The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [19:40] Register now for the Second Annual RIMS Texas Regional Conference, to be held from August 10th through 12th at the Grand Hyatt on the San Antonio River Walk. Advance rates are available through June 5th. [19:55] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [20:08] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [20:26] Save the dates October 18th through the 21st. That is when the 50th Annual RIMS Canada Conference will be held in Quebec City. Booth sales are already open. The call for educational sessions is open through May 8th. Early-bird registration will open in June. [20:44] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [20:59] Check RIMS.org for an announcement about the RIMS ERM Conference 2026. It will be up soon! [21:07] Let's Return to Our Interview with RIMS 2026 Risk Manager of the Year, Jeff Bray! [21:24] Justin asks what Jeff loves about RISKWORLD. Jeff loves the people, the interactions in the hallways, even when racing from session to session, and meeting to meeting. There's no better place to meet people and build meaningful relationships over the years. [21:45] Jeff says there's no better place to get apprised of what's coming up in the risk industry and reconnect with our most important relationships. [22:17] Jeff says RISKWORLD is a connection point where a group of risk professionals from around the country can get together. [22:31] Jeff's team members, the Head of Risk and the Head of Claims, have attended RISKWORLD for the last few years. [23:07] Justin asks about cross-functional risk management. Jeff says that he can't imagine a problem crossing their desk that Risk Management can solve solely by themselves, figure out, and move on. Generally, they will engage Legal, HR, and the Business Teams. [23:28] Jeff says that's hugely important to be able to solve problems effectively, and in a way that enables the business. [23:55] Jeff thinks the perspective on risk has changed over time. The needs have changed over time. At the beginning of his time at AMB and Prologis, there was a focus on insurance because they were expanding to new countries and standing up a global program. [24:17] Within 90 days, Hurricanes Katrina, Rita, and Wilma hit, and Jeff was learning about disaster recovery and response. He saw the teams in action and how it can be a competitive advantage if they can get their properties up and running quicker than someone else. [24:37] That's absolutely a competitive advantage to Prologis, and that's been in their DNA ever since. [24:53] Justin asks about Jeff's dashboard. It's a Claims dashboard, created by the Claims team, so Jeff can look at the Claims activity every day. [25:16] Jeff says Prologis retains a bunch of risk itself. It's Prologis's money. It concerns not only Jeff, but also the Finance Team and others. None of them likes surprises. Jeff manages it like a business, managing actual claims against the forecast. [25:53] Jeff says it's been phenomenal. He's asking for more dashboards! [26:08] Jeff discusses the impacts of technological innovation on his role. One of the biggest pieces was onboarding Archipelago, a tool to intake Statement of Value information and other property characteristics and deliver it to an insurance company in a reliable and verifiable way. [26:33] Jeff says during that period, they went through $40 to $50 billion of acquisitions, so Archipelago was a game-changer in a way that insurance companies couldn't believe. [26:48] Prologis would bring on a portfolio in September and was ready for its December renewals with the full Schedule of Values. Jeff says it was about, "What questions am I asking myself, and how do we solve for that?" [27:03] Jeff was looking beyond the Cap Modeling results to what other information he could get out of the data, from the newness of the assets, different specifications, and different protections in place, and quantifying that in a way that was meaningful for the insurers. [27:25] When Prologis onboarded Archipelago, there weren't any other systems available to do what was needed. They were developing something that hadn't been in place yet. Prologis was part of the development team. [27:43] Jeff says the Claims dashboard is driven by Origami, which has been an important partner of Prologis. [27:55] Prologis has always been focused on the combination of good data and leveraging technologies to interpret that data. That's been very important to Prologis. [28:15] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [28:42] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [28:57] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [20:08] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [29:17] Let's Conclude Our Interview with RIMS 2026 Risk Manager of the Year, Jeff Bray! [29:43] Jeff says the younger risk professionals are absolutely more well-versed in technology. The challenge is not to let technology become more important than understanding the basics of the business. [30:00] Jeff says you still need to understand what that policy says and what the submission process looks like, so you can get the right outcomes out of the technology. Most of the folks Jeff works with are younger than he is. [30:21] Jeff says what they're doing with AI, dashboards, and other insights is super impressive. They balance that with learning the fundamentals. [30:47] In a new risk professional, Jeff looks first for curiosity and questions. When Jeff hit stagnant parts of his career, he had stopped asking questions, so today, he asks a lot of questions. Curiosity is key to investigating what's happening in the company to solve problems. [31:18] Jeff says connecting the dots is something he still works on today. We live in a complex world. There's generally not one threat or risk that operates in a silo. Risks are connected. Someone who can understand how different risks might be interconnected will be critical. [31:43] Jeff says that being hungry, learning, and striving to do more than the person who started next to you is more important than ever. [32:06] Jeff says polycrisis is an interesting term, and he fully believes in it. He spends a fair amount of time thinking about what he has control over and what he doesn't have control over. Jeff says Prologis doesn't let the polycrisis drive its strategy on a day-to-day basis. [32:45] Jeff says awareness is key, and knowing how you can respond as an organization. [33:02] On mitigation and navigation, Jeff says, it's like being on defense versus offense. Risk mitigation works if it's a very simple solution. Putting a floodwall in a building to prevent flooding is a great mitigation.  [33:15] Most risks are not that simple, and they require navigation. They require keeping options open and multiple solutions. Navigation lends itself to how risks evolve and how we respond to those risks. [33:40] Jeff says Prologis is an owner of 1.3 billion square feet of real estate, with two to three percent of the world's GDP flowing through its buildings. Supply chain resilience is key. Prologis focuses on climate risk, but Jeff wants to look at it from more of a resilience perspective. [34:04] Jeff's perspective is about what Prologis should be worrying about, and how that affects how they build a building and how they operate an asset. Climate risk is front-of-mind to this day for many of Prologis's investors. [34:17] Investors want to know what Porlogis is doing about things and how they are looking at exposures. So Prologis has always tried to be on the front end of that discussion with investors. The decisions Prologis makes just need to make good business sense. [34:41] As long as Prologis can communicate, this is a concern, and this is how it translates into a business impact or impacts performance. That remains key, and we are in an environment that is evolving in frequency and severity. It's something Prologis pays close attention to. [35:16] Solar panels are part of Prologis's sustainability goals. Thicker rooftops are needed. Solar panels affect how air conditioning is used and the temperature levels within a building. It affects how Prologis might construct the building to have a better working environment. [35:51] Jeff says it all ties together, which comes back to a more resilient and better-performing portfolio. [36:00] Justin asks about earthquake resilience for new construction. Prologis has a lot of property on the California coast and has been focused on earthquake risk for the life of the company, doing voluntary retro-fittings and seismic upgrades. [36:33] That's not to get reduced insurance premiums but to take steps to reduce interruptions that may occur for Prologis's customers' activities when an earthquake does arise. It's about taking Prologis's objectives and aligning them with the business, not to save premiums. [37:16] Jeff is very excited by the level of abilities he sees in college students. He was recently at Old Dominion for Risk Manager on Campus. This industry has an amazing amount of opportunity. Risk is at the crossroads of finance, operations, legal issues, and HR. [38:27] Jeff's words to students and aspiring risk professionals: "There's an incredible amount of opportunity. What risk strategy means today is very different than what it meant 15 years ago. It's a hidden gem of an industry, still today." [38:44] Justin congratulates Jeff on being named RIMS Risk Manager of the Year 2026. Nobody accomplishes anything by themselves. Is there anyone you want to thank? Jeff says thanking a whole host of folks might take its own podcast. [38:59] Jeff thanks his team across Risk, Resilience, and Claims, and the deep bench of external risk advisors, from broker placement to consulting, technology partnerships, and the insurers. He couldn't do this without all of those team members. He's very grateful for it all. [39:49] Justin says, I look forward to meeting you and seeing you up onstage and cheering you on. I hope we can continue to stay in touch because you've got so much knowledge to share with the global risk community, here through RIMScast. Thank you so much for your time! [40:16] Special thanks again to Jeff Bray, the 2026 RIMS Risk Leader of the Year. We are delighted for him and congratulate him once again. Be sure to check out last week's episode, featuring RIMS Rising Risk Professional, Tyler Vaughan. [40:32] In May, we intend to have Honor Roll Awardee, Emily Buckley, back on RIMScast. Check RIMS Risk Management Magazine for the Awards Digital Edition, which also features profiles on the Chapters of the Year and other special awards. More winners will be on RIMScast in 2026. [40:55] I hope everyone who's listening in Philadelphia at RISKWORLD is having a blast! Next week's episode will feature interviews recorded live while in Philadelphia. Let's relive the magic! [41:08] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [41:37] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [41:55] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [42:13] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [42:29] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [42:43] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [42:55] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RISKWORLD Playlists:

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews RIMS 2026 Rising Risk Professional, Tyler Vaughan. Tyler explains the pizza-and-bonus-points incentive that got him to attend the risk management and insurance informational session in college, which launched his risk management career. Tyler shares what it was like beginning in the industry as COVID was shutting down offices. He encourages students not to seek a remote position, but a hybrid or office position, at least for the first couple of years of their careers, to grow knowledge and build a network. Tyler shares his feelings about winning the RIMS 2026 Rising Risk Professional Award and his hopes for the future of the risk industry. Listen for insight on building a risk management career, mentoring, and networking.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. Our guest today is the RIMS 2026 Rising Risk Professional, Tyler Vaughan. I'm looking forward to discussing with him about how he is setting a high bar for the next generation of risk professionals. But first… [:58] RIMS Virtual Workshops. The next RIMS-CRMP-FED Exam Prep Course will be on May 13th and 14th. The popular CBCP and RIMS-CRMP Exam Prep Bootcamp will be held from May 18th through the 21st. The next RIMS-CRMP Exam Prep Course will be held on June 9th and 10th. [1:18] Links to registration are in this episode's notes. [1:21] Webinars. On May 14th, Origami Risk will return with a new session, "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility." [1:32] On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:47] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:05] This is a last call for registration for RISKWORLD 2026, from May 3rd through the 6th in Philadelphia! Our opening keynote is thought leader Adam Grant. Our closing keynote is NFL Hall-of-Famer and Emmy-award-winning broadcaster, Michael Strahan. [2:22] Visit RIMS.org/RISKWORLD to register. Connect, Cultivate, and Collaborate with 10,000 of your risk management peers. [2:32] RIMS has also released its RISKWORLD Playlist, available through Apple Music and Spotify. Whether you want to get in the zone before RISKWORLD or relive the energy after it, these official RISKWORLD Playlists are available to keep the energy going. [2:48] Links are in this episode's show notes. [2:52] On with the Show! Our guest today is the Global Risk Manager for Cook Group in Indiana. He is the RIMS Rising Risk Professional for 2026. We will be seeing him onstage receiving his award at RISKWORLD. It's Tyler Vaughan.  [3:11] Tyler has already made an impact on the risk profession and RIMS. We're going to learn about what it took to lead the Northeast Ohio Chapter to greatness, mentors who have lifted him, and how his RIMS participation has made him a more confident risk leader. Let's get to it! [3:31] Interview! 2026 RIMS Rising Risk Professional Tyler Vaughan, welcome to RIMScast! [3:48] Tyler says he appreciates being named the RIMS 2026 Rising Risk Professional. It's humbling and a bit surreal. [3:64] Tyer looks back to when he joined the industry in 2018 as an intern. He joined the Northeast Ohio RIMS Chapter. He didn't think risk management was a profession where you expect public recognition; most of it happens behind the scenes. [4:12] Tyler says in risk management, success often looks like nothing bad happened. Within different corporations, you're protecting against bad things happening. To have RIMS recognize Tyler as the RIMS 2026 Rising Risk Professional means a lot to him. He's very thankful for it. [4:37] Justin says there are several professions where the idea is that no news is good news. If you don't get any feedback, that means you're doing everything fine. Justin says an award like this, and all the RIMS awards, are nice and well-deserved. [5:19] Tyler tells how he became involved in risk management. He was studying corporate financial management at the University of Akron College of Business. The professor of a challenging course held an informational session on risk management and insurance. [5:58] Tyler wasn't interested until the professor announced pizza and bonus points. Tyler couldn't turn that down. The professor, Dr. Jill Bisco, comes from the industry. She had been on the carrier side for many years. She was one of Tyler's first mentors. He still talks to her. [6:17] At that informational session, Tyler learned of how much opportunity the risk management and insurance industry has. He signed up for more information that day. [6:26] Dr. Bisco talked about Gamma Iota Sigma, the collegiate actuarial science risk management business fraternity. Tyler signed up to be an officer. [6:39] Tyler went through the chartering ceremony the next semester, and then the University of Akron officially adopted a risk management insurance program, and Tyler was one of the first students to sign up for that path. [6:50] Pizza and bonus points are still relevant to college students. Tyler says, take advantage of those opportunities. You never know what might come from it. Tyler later organized sessions with food. He used Chick-fil-A when pizza didn't bring a good crowd. [7:24] The Risk Management and Insurance Program at the University of Akron had an event called Risky Business, where they brought in different industry professionals. [7:33] One of those industry professionals was Kristen Peed. Tyler was looking for an internship. Kristen was looking for her umbrella after the event, and Tyler took it to her and asked her name. Tyler says pizza, bonus points, and an umbrella got him where he is today. [8:08] Kristen had just come off the board of the Northeast Ohio Chapter. Justin says Kristen was on the RIMS board for years and is the RIMS Immediate Past President. [8:36] Kristen taught Tyler that risk management is about people. She balances technical expertise with emotional intelligence. Tyler learned from her that the best professionals are the ones who can translate complexity into clarity and build trust across the organization. [8:56] Tyler says, across the industry, it's all about relationships. Kristen taught him that early on. Kristen has had many interns, and they share a community, and she connects with each of them, so they have a network within a network. [9:13] Kristen taught Tyler that we're only as successful as those that we bring up in the industry as well. It's full-circle for Tyler, now being seven years out of college, and giving back to whom he gives now. Any time someone reaches out to Kristen, Kristen loops Tyler in. They talk weekly. [9:44] Throughout the steps Tyler has taken in his career, Kristen has been there. It means something to find that mentor with whom you really connect, whether it be through RIMS Mentor Match or local university mentors. [9:59] You may go through some that aren't an exact fit, and that's OK. Mentorship can't be forced. Look for that person that you want to learn from, build from, and find success from. [10:25] Tyler says he is far more comfortable in public speaking now because of his experiences with Kristen and his experiences in risk management than when he joined the profession. Tyler avoided taking a public speaking class that was offered in high school. He was not extroverted. [10:56] Tyler was somewhat shy going into college. In going to the risk management and insurance pizza and bonus points session, he was nervous to meet people. But it was the push to get out of his comfort zone. [11:14] Dr. Jill Bisco, Kristen Peed, and other mentors taught Tyler that pushing yourself outside of your comfort zone is where you grow as a professional and personally. Tyler has made not only industry connections but also some of his best friends by putting himself out there. [11:38] Public speaking still makes Tyler a little nervous. He says it's cool to look back and see how much he has grown as a professional by putting himself out there. [12:24] Tyler went to the University of Akron and then started on the carrier/underwriting side as an underwriter. He went through a graduate development program at Westfield Insurance, close to home. [12:43] Tyler learned small business underwriting at Westfield and moved to Zurich for middle market underwriting. From there, a mentor of his from Akron University, Kirk Gross of Safelite, came to Tyler with an entry-level opportunity as a Business Continuity Analyst. [13:14] From there, Tyler has grown to where he is today. After Safelite, Tyler was with Avery Dennison as an Insurance Risk Analyst. Now he is with Cook Group, which owns Cook Medical, in Indianapolis. [13:31] Tyler's focus has been depth and versatility. He wants to continue to strengthen his technical foundation. He's gaining exposure across many areas, being a risk manager at a large company in the medical space. [13:47] This exposure includes operational risk, governance, and resilience. It's about emerging risks and how much they've changed recently. In the long term, Tyler hopes to play a role in shaping how organizations integrate risk into strategic-level decision-making. [14:02] Tyler would love to lead a team, continue to mentor the younger professionals, and continue doing what he can for the profession, whether it's leadership or workforce development, and change what the future of this industry looks like. [14:23] Tyler has been sitting on the RIMS Rising Risk Professional Advisory Group for five years. He notes that it has changed a lot. It's an ever-evolving landscape that Tyler wants to contribute to, long-term. [14:43] Tyler says risk management and insurance has been a conservative-minded industry. He would like to see it having an inclusive mindset, moving forward, working in different types of teams, and taking on different types of risks. [14:55] Tyler says risk management is not just buying insurance, it's protecting against the unknown geopolitical environment, the macroeconomic environment, and cyber. When Tyler joined this industry seven years ago, it was totally different. It takes a proactive mindset. [16:22] A Quick Break! The 2026 Florida RIMS Educational Conference will be held from July 28th through August 1st at the lovely Ritz-Carlton in Naples, Florida. A link to the event is in this episode's show notes. [15:45] The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026, in Chicago. Visit ChicagolandRiskForum.org for more information. [15:59] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [16:16] Save the dates October 18th through the 21st. That is when the 50th Annual RIMS Canada Conference will be held in Quebec City. Booth sales are already open. The call for educational session proposals is open through May 8th. Early-bird registration will open in June. [16:35] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [16:51] Let's Return to Our Interview with RIMS 2026 Rising Risk Professional Tyler Vaughan! [17:21] Tyler mentions some unknowns regarding the Middle East: supply chain risk, physical personnel risk, and cyber. Cyber was a new risk when Tyler joined the industry.  [17:41] Tyler did a course in college on the TJ Maxx data breach of the late 2000s. He thought that every company is protected against this now; we aren't going to see a data breach again. Everyone can see that's not the case. The unknowns of cyber keep Tyler interested. [18:40] Unknowns can slow things down. Geopolitical conflict potentially affects every business unit within the corporation: HR, Marketing, the supply chain, and procurement. For your company's success, you protect against disruption with insurance and strategic conversations. [19:24] Tyler entered the risk profession just as COVID was hitting. He says he joined Westfield and had training in a classroom before getting a desk. Then they were told that they were going to work from home for a couple of weeks. He never went back to the office at Westfield. [20:43] Tyler says working from home took self-motivation. In the first couple of months. Tyler didn't have the collaboration of meeting with underwriters, management, and leadership at the company that he needed to learn the profession. [21:16] Thinking back to his college time, Tyler says that for students, it must have been very different to excel in a remote environment. [21:56] Students often ask Tyler if he knows of any fully remote opportunities. Tyler was fully remote at Safelite. He needed personal interactions. He suggests a hybrid approach. In the early stages of a career, for learning, be in the office for a couple of years before going fully remote. [23:27] A hybrid approach is Tyler's favorite. Be strategic about the times when everyone is in the office versus remote. That's how Tyler looks at the future environment. [23:57] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [24:23] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [24:38] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [24:50] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [24:58] Let's Conclude Our Interview with RIMS 2026 Rising Risk Professional Tyler Vaughan! [25:15] Tyler says he's excited to receive his award, but there's a lot of pressure to be on stage in front of the global risk community at RISKWORLD. What if he tripped? He was emailing Joshua Salter of RIMS. Joshua assured him they would walk him through it, don't even think about it. [25:35] Tyler says it's so cool to have that network behind him and the support he has had through his career thus far. He thinks receiving that award will be very full-circle. He can't wait to see future professionals win the award. He recalls his friend Megan Smalter winning it last year. [26:08] Tyler says it's different seeing your friends succeed. You find real value in that. He hopes his friends who attend RISKWORLD will apply next year. [27:26] Tyler says in-office exposure is important for preserving the risk knowledge from some of the seasoned professionals, so their techniques and wisdom are not lost when they retire. Take advantage of one-on-ones with other experienced professionals besides your direct leader. [27:46] Learn through documentation, informal mentoring, and collaborative problem-solving. Individuals who have been there longer than you are there to help you learn. They want to see you succeed. [27:58] Tyler suggests being proactive about how you reach out to individuals and to keep this knowledge in notes. Tyler started writing on a notepad. Now he uses a shared drive. If you move to a new opportunity, transfer your notes from your work computer to the people you leave. [28:37] Be strategic and meet as many professionals as you can. Introduce yourself. Tyler recently told students at a Spencer event to have their elevator speech ready. Know whom you want to talk to and take advantage of that. [29:08] Tyler is a judge on the Spencer Risk Challenge. There are very talented students coming from around the world to present. It's very interesting to hear the different ways they think about the case study. Tyler loves engaging with the students. [29:39] Tyler says that last year's team from South Africa came to support the South African team in the Top Eight this year. It's awesome that RIMS partners with Spencer on the Challenge. [30:07] Justin notes that Megan Miller of Spencer Educational Foundation has been on RIMScast speaking of the Spencer events lined up for RISKWORLD. [30:43] Tyler says to young risk professionals, don't be discouraged if you don't have it all figured out at first, whether it's the job or your path in the industry. There's no one correct way to go about this industry on the carrier side, risk management, or broker side. [31:08] It's what you make it. The opportunities are here, so you do not have to settle. If you're not in the right fit, you can explore your opportunities. If you need more knowledge, don't be afraid to ask questions. It means something to know that you're utilizing your resources to learn. [31:45] Invest in relationships. Your network is your net worth. It takes time and effort to build your brand and who knows you. Tyler says it's worth it in the long run, and you make some of your best friends. [32:19] Justin reminds us that Michael Strahan is the closing keynote at RISKWORLD. Tyler hopes to meet him backstage. Adam Grant is the opening keynote. Lots of other highly-regarded people will also present at RISKWORLD. [33:08] Tyler says the opening session is always a grand time where you will see everyone who will be attending. [33:15] Recently, Tyler worked with the Rising Risk Professional Advisory Group to create the Rising Risk Professional/Student Track. That will be uploaded to the RISKWORLD site and app. The group was strategic about the best sessions to suggest to students. Tyler will attend. [33:59] Tyler says the Student Networking Luncheon has grown since he attended as a student. That is an event for all the students to attend. Probably upwards of 120 people will attend. [34:22] It's a roundtable session where industry professionals will move from table to table to tell you their story in this industry and answer questions. If you're not able to attend some of the other sessions on the student track, attend this luncheon. [34:42] Justin says we've got links to that with the information in this episode's show notes. [34:55] Tyler, thank you so much for joining us! It's obviously a well-deserved award for you this year. I look forward to meeting you in person, in Philadelphia, and seeing you continue to do great things for the risk community! [35:14] Special thanks again to RIMS 2026 Rising Risk Professional Award Winner Tyler Vaughan for joining us here on RIMScast. We will eventually update this episode's show notes with a link to the Awards Edition of RIMS Risk Management Magazine. [35:31] Be sure to tune in next week, when we are joined by the RIMS 2026 Risk Manager of the Year. I don't know if I'm allowed to say who it is yet, but if you know, then you know. Subscribe to RIMScast through your favorite podcasting app so you don't miss one single episode! [35:52] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [36:21] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [36:38] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [36:56] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [37:13] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [37:26] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [37:39] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! LAST CALL! RIMS on YouTube! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam 2026 Florida RIMS Educational Conference | July 28‒Aug. 1 | Register Now ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Submit Your Session by May 8! RIMS Risk Management Magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Northeast Ohio RIMS Chapter (NEO RIMS) RISKWORLD Playlists:

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Nick Quigley, Risk Manager at the Saskatchewan Association of Rehabilitation Centers (SARC). This is Nick's second career, after starting in the Canadian Military. Nick explains how he joined the military before graduating from high school, the training and education he received, and his field of operational risk and training safety. He says he loved his work, but in 2019, he was medically retired with PTSD. Retirement got old fast, and when he got the opportunity to help a company recover from the problems of the COVID shutdown, he stepped up. From there, he joined SARC, where he works today. Nick speaks of the recycling mission of SARC, and how he has increased his education while there, receiving the RIMS-CRMP recently, and continues his studies. He recounts some of the activities of the Saskatchewan RIMS Chapter (SKRIMS), where he serves on the board. He shares how he manages his PTSD and why he advocates for removing the stigma around mental health. Listen for insight on living with PTSD while managing risk at a major non-profit organization.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. Our guest is Nicholas Quigley, RIMS-CRMP. He is the Risk Specialist for the Saskatchewan Association of Rehabilitation Centers, or SARC. [:52] We will discuss recycling, energy efficiency, how his military career led him to risk management, and mental health awareness. But first… [1:01] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on May 13th and 14th. The very popular CBCP and RIMS-CRMP Exam Prep Bootcamp will be held from May 18th through the 21st. The next RIMS-CRMP Exam Prep Course will be held on June 9th and 10th. [1:21] Links to registration are in this episode's notes. [1:23] Webinars. On May 14th, Origami Risk will return with a new session, "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility." [1:35] On May 28th, Zurich returns with "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction." Register for webinars at RIMS.org/Webinars or through the links in this episode's show notes. [1:50] Folks, RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:10] On with the Show! Our guest today is Nick Quigley, the Risk Specialist for the Saskatchewan Association of Rehabilitation Centers (SARC). He is an educator, a veteran, and a member of the Saskatchewan RIMS Chapter (SKRIMS). Justin met Nick at a SKRIMS event.  [2:34] Nick will discuss the work he does for SARC, which handles recycling and energy efficiency, his involvement with SKRIMS, his certifications, including the RIMS-CRMP, and what it's like to be an educator. [2:48] For Mental Health Awareness Month in May, and in Canada, Mental Health Week from May 4th through 10th, Nick will tell us how PTSD impacts his life and his career as a risk professional, how he handles these challenges, and offer words of comfort. Let's get to it! [3:18] Interview! Nick Quigley, welcome back to RIMScast! [3:32] Nick is wearing a shirt that reads: Risk Manager: I solve problems you don't know you have. Nick has worn that shirt to board meetings, senior management meetings, presentations, and to his class when he was teaching. [4:22] Justin mentions a great presentation Nick led last year. After the presentation, Justin wanted Nick to be on RIMScast. Nick also has a RIMS CRMP Story. [4:57] Before Nick was out of high school, he saw an ad for the summer: Do you want to make  $6,000 this summer, and do you like being outdoors? Nick grew up in a small community on Prince Edward Island, and he loves the outdoors. [5:34] He filled out paperwork, not noticing the top of the form, Government of Canada, Department of National Defense. When he showed up at the recruiting center for testing, he saw what he had done. [6:06] Nick followed through, did his basic recruit training and his trades training, and became qualified as a signals operator. His job was radios, satellites, and IT. He enjoyed it. But he got an opportunity early on to focus on operational risk and training safety. [6:35] It was not a traditional 9-to-5. Every day there was something different. That's what kept it exciting. Nick retired in 2019. Then came COVID. People who knew Nick's background asked him to come work with them. He went back to work and found out he enjoyed it again. [7:16] Nick found a second life, working full-time again, in risk management. Nick's background was in operations and crisis and emergency management. He has a degree in emergency management. [8:17] Nick says retirement was fun, at first. All his friends had to go to work, while he did what he wanted. It was also lonely, because all his friends were at work. It got old, really fast. [9:19] Nick says when he retired, he did some little projects and woodworking, but that got old, too. Doing it all day felt like work, not a hobby or a passion. It got lonely and boring, and he needed a change. [9:51] Nick got recruited into risk management from somebody who knew his military background and offered him a chance to assist them during COVID. He got his ISO 31000 while he was there. Shortly after, he went to a large, non-profit charity where he is the risk manager. [10:38] The charity manages all the recycling across the Province of Saskatchewan. Nick got his RIMS-CRMP within a couple of months of starting this position. He has been a lifelong learner. Education can lead to a better outcome when it comes to real-world applicability. [11:14] Nick says education gives you a baseline understanding of what you need to know. Experience allows you to modify what you have learned to fit the situation. [11:44] People tell Nick he has more letters after his name than in his name. He believes education is important. Now he is working toward becoming a Chief Internal Auditor from the IIA. [12:21] Nick explains how SARC operates across Saskatchewan. They collect aluminum cans and other materials from customers and return the deposit fees to the customers. They sort and process the materials and ship them to downstream market partners for recycling. [13:49] SARC has several streams: aluminum, plastics, glass, flexible packaging, and styrofoam. [14:00] Yesterday, April 20th, was Earth Day. SARC takes that seriously. SARC's mission is to have a large recycling presence and to be the best at what they do. [14:52] Nick is fascinated by innovations coming out now in how we leverage technology. Nick read an article about Finland using their data centers underground to heat houses and businesses. [15:38] Nick is always looking for ways to make things more efficient or streamline processes to make them better. If we can do that by reusing materials instead of taking them out of the earth, why not? [16:02] Nick is the Risk Group at SARC. He is a department of one. He gets to dictate his priorities, with guidance from senior management and the strategic initiatives. He can look at things across the organization. Nick has the trust of senior management. [17:03] Nick makes sure senior management is apprised of situations that will negatively affect them, their mission, vision, values, or the strategic priorities. They rely on his expertise when things pop up. [17:32] Nick says when he started, one of the interesting things he got to do was to follow the recyclable material from start to finish. What does it go through at SARC, and where does it go downstream? He spent a lot of time building out those processes to make them efficient. [18:10] Nick worked with Operations and Processing to see how they are doing it and look at it from the perspective of reducing risk, unneeded redundancies, and bottlenecks. [18:45] SARC and SARCAN, the recycling system, have been around since 1989. They had processes. It's a large, fairly mature organization, with about 1,000 employees in 76 locations across the province, serving 1.1 million people. [19:15] Nick's role was to validate the processes. Are they efficient? Can we do better? What can we change? How does the customer experience get better? We want people to bring back their recyclables. If it's a barrier, they're not going to bring them back, and it's wasted material. [19:31] Saskatchewan has a collection rate that's higher than that of other provinces. Some provinces don't have a system. Others rely on a curbside collection system. [20:16] The provinces share knowledge. They have a collective, and the senior management confers with them and shares knowledge about what works and what doesn't. SARC is a non-profit charity, and some of the other systems have a for-profit system. [20:49] SARC owns and operates the collection depot and the recycling system. They don't have the intricacies and risks of working with external businesses in the process. They own the process. They don't have the risks that come with third-party management. [21:36] A Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [21:56] Public registration is open, and booth sales are still available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [22:06] We will kick off Day 1 with a conversation with Adam Grant. He is an organizational psychologist, best-selling author, and a leading management thinker. [22:13] The excitement continues with the announcement of the closing keynote. NFL Hall of Famer, Super Bowl Champion, Emmy-winning broadcaster, and entrepreneur Michael Strahan will be on the main stage on May 6th. Justin is super stoked! [22:29] If you're still on the fence, this is the time to smash that Register button and hear from one of the all-time greats. [22:36] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [22:53] Save the dates, October 18th through the 21st. That is when the 50th Annual RIMS Canada Conference will be held in Quebec City. Booth sales are already open. The call for educational session proposals will open soon, and early-bird registration will open in June. [23:13] Visit RIMSCanadaConference.ca for more information. Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [23:29] Let's Return to Our Interview with Nicholas Quigley! [23:34] Nick was interviewed for a RIMS-CRMP Story. Nick loves having RIMS-CRMP after his name. Few people in Saskatchewan carry it. Some people don't know what it is. [24:10] Nick sits on the Saskatchewan RIMS Chapter board, and he also acts as an advocacy officer. He promotes understanding of the designation. Canada has a CRM designation, but the RIMS-CRMP designation is also available and just as important. [24:59] Justin says there are 13 RIMS-CRMP certification holders in Saskatchewan and 172 in Canada. He hopes to raise those numbers. [25:12] In Nick's RIMS-CRMP Story, he talked about his military experience and some of the mental health challenges he experienced with it. Regarding Mental Health Week, May 4th‒10th, and Mental Health Awareness Month, in May, Justin asks what Nick wants to share. [25:52] Nick has been a proponent and advocate of reducing stigma around mental health. He lives with PTSD. It's not going to go away, but he can function with it. There are good days and bad days. Everybody has a bad day. [26:35] When Nick has a bad day, he restricts his movement and interaction. He needs a day to reset. That's what it is now. When he was first diagnosed, it was a lot different. There were a lot more bad days than good days. It could extend for a week or two at a time. [27:01] Nick says, now, a bad day comes about once every three months. It's just something that he lives with. Nick knows the triggers, and he can sense when it's coming. When he knows that it's coming, he informs his boss, and he takes a sick day. [27:27] Nick says that in his role, he advocates for the disability sector. It's one of the values at SARC, as well. The culture is open to that; there is no stigma in his office. It's not the norm across the corporate culture of any industry, and Nick has found it to be a challenge. [28:00] When Nick retired in 2019, he was medically retired because of his diagnosis. If he hadn't been diagnosed, he'd probably still be in the Army. He loved his job and what he did there. He was not ready to retire, but he had to retire. [28:21] With retirement, there came a lot of acceptance and grief. When veterans retire, it's like losing a family. You spend more time with the people you work with all day than with your family. You get posted overseas for extended periods. [28:42] Those are the work buddies you know and live with. Then all of a sudden, you have to retire. It's a hard adjustment, especially when it comes to mental health. [29:00] Nick says the best thing you can do when you have PTSD is to hang out with people and create normalcy. When you get retired, that gets taken away from you. It takes a lot of time to come to terms with that. Some veterans need a lot of assistance with that transition. It's hard. [29:55] Nick says PTSD can hit military, police, fire, and paramedics. It doesn't discriminate. It can happen in a corporate environment. It's traumatic, whether it's vicarious trauma or trauma that you experienced. [30:13] If you have repeated exposure, without processing and dealing with that trauma, if you continually suppress it, eventually it becomes PTSD. [30:56] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period is now open, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [31:17] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [31:32] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [31:44] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [31:53] Let's Conclude Our Interview with Nick Quigley! [32:17] It took Nick a long time to come to terms with being open about PTSD. There's a lot of stigma still around it. [32:40] When Nick was ready to go back to the workforce after retirement, it was a challenge to find work, simply because risk managers may have to deal with a crisis. They have a lot of stress put on them. [32:59] People see PTSD in movies, and they think it means you're low-functioning, that you can't handle any stress, and that it's exacerbated to the point where it's unmanageable. Those are not the people who just live with it day-to-day. [33:25] There may be an unconscious bias that people with PTSD may not be suited to this role. It's not true. Military veterans are probably the people you want in high-stress jobs. A military member's worst day at work is worse than anything the corporate world can throw at them. [33:56] Military service comes with a lot of risk and a lot of high-pressure scenarios. Nick says there's nothing in the corporate environment that shakes him. You can tell, in a room in crisis, who the military veterans are. They're the ones sitting, talking to each other, not freaking out. [34:50] Nick advocates for mental health all the time. Nick has a service dog that goes with him everywhere. Often, people stop him with questions. He tells them that, as a veteran with PTSD, his dog helps him function. [35:37] Nick is open and honest about PTSD. He says if we can be open and honest about it, it lowers the stigma around it and normalizes it. People don't expect such openness, but Nick doesn't care to hide it. [36:48] Justin shares a link for CMHA.ca and their Mental Health Week page and resources. [37:06] Justin notes that SKRIMS is one of the top chapters of RIMS. SKRIMS Annual Golf Day will be on Wednesday, August 19th, at the beautiful Harbor Golf Club in Elbow, Saskatchewan. Check out the Saskatchewan.RIMS.org page for more information. [37:35] Nick says being at SKRIMS is awesome. He has sat on many boards, and it is difficult to find a group of volunteers so passionate and so willing to do anything and everything to give back to the membership. The SKRIMS board asks how to give back more. [38:08] Nick says last Fall, SKRIMS did a volunteer day at Habitat for Humanity. On April 24th, they're volunteering at a food bank. They'll have contingents at both Saskatoon and Regina at the same time. [38:50] SARC is supportive of Nick's involvement with SKRIMS. They help where they can. Where they can't, the SKRIMS board works around it. That's a benefit of having such an active board. If Nick doesn't have capacity with his workload, another person on the board steps up to assist. [39:28] Justin mentions some of the board, including President Katherine Dawal, Chelsea Wilson, and Chelsea Andrusiak, and other SKRIMS members; a great group of folks who are making a difference. [40:13] Nick says SKRIMS has pushed educational institutions to offer risk management courses. There's one in development with a Master's Certificate. A board member, Jim MacKenzie, taught the first Uncertainty Management course at the University of Regina. [40:33] Nick is just finishing the Risk Management course at the University of Saskatchewan. Nick is a sessional lecturer. This is the first University class he has taught. He loved the class and his students, with their engagement and curiosity. [41:02] With Nick's students being business and finance majors, all risk applies to them because risk is not siloed; it's overreaching. Now they have foundational risk management knowledge as a base, so they are better equipped when they enter the business sector. [41:56] Nick says he asked his class to estimate when the first episode of Gilligan's Island was aired on TV. They all said it was in the '80s or '90s, not 1964. He definitely dated himself with them. A lot of the references fell short because they weren't born until 2001. [43:02] Nick's last words on the risk profession, "It is an interesting field. It's never the same. The thing I love most about it is that I can work anywhere. I can work for any company. I am not stuck in one vertical market. If a company needs to manage risk, you can provide value. [43:21] "That's one of the most interesting things; I can learn about vertical markets and sectors, but I can still apply my risk knowledge to assist them. I don't need to be a subject matter expert in their field. I just need to assist them and prompt them to look at it the right way. [43:40] "That's more valuable than anything. In some careers, you go down the path. If you're a plumber, you're a plumber. You can't be an electrician tomorrow, right?" [44:13] Nick, it's been a real pleasure to see you again, and I hope to see you at the RIMS Canada Conference, October 18th through the 21st, in Quebec. [44:26] Special thanks again to Nick Quigley for joining us here on RIMScast. We appreciate his candidness, and we have links to more resources about mental health and risk management.  [44:36] I have a link to his RIMS-CRMP Story in this episode's show notes, along with a link to his chapter's site, the Saskatchewan Chapter of RIMS. They're fantastic; some of my favorite people! [44:51] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [45:19] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [45:37] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [45:55] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [46:12] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [46:25] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [46:37] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | RIMSCanadaConference.caCall For Education Submissions Open Through May 8 RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories, Featuring This Week's Guest, Nick Quigley RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Mental Health Week Canada — May 4‒10, 2026 SKRIMS Home Page SARCSARCAN.ca Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP-FED Exam Prep | May 13‒14 RIMS-CRMP Exam Prep | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility" | May 14 | Presented by Origami Risk "From Underwriting To Risk Management: What To Expect From The Growing Demand For Data Center Construction" | May 28 | Presented by Zurich RIMS.org/Webinars   Related RIMScast Episodes: "World Water Day and the Circular Water Economy with Ralph Exton of WEF" "Mental Health Awareness Month 2023" "Mental Health in the Workplace with Darcy Gruttadaro"   Sponsored RIMScast Episodes: "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant    RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: C. Nicholas Quigley, CD, BESMS, RIMS-CRMP   Production and engineering provided by Podfly.

The Gary & Shannon Show Hour 3 (04.16) – The chase continues as the news cycle keeps stacking.• The stolen work truck chase escalates → blown tire, sparks flying, and the suspect still pushing over 60 mph on a rim• In #WhatsHappening → a tragic murder-suicide in Virginia, RFK Jr. testifies as more personal stories surface, and new scrutiny around the Noems’ finances• In #SWAMPWATCH → Trump heads west with remarks as political developments continue to unfold• Ozempic discussion → reports of emotional “flatness” raise new questions about side effects• A viral Nikki Glaser clip → unconventional relationship dynamics spark conversationSee omnystudio.com/listener for privacy information.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews SERMC members Suzanne Christensen and Trisha Sqrow about the new RIMS Executive Report they co-authored with Joe Pugh, also of the SERMC, "Board Risk Reporting: How to Deliver Insights that Matter." Suzanne and Trisha share tips for preparing to report to your board, how frequent reporting should be, and the difference between the board's oversight and the executive team's management. Trisha also shares descriptions of her two upcoming RISKWORLD presentations on May 6th. Listen for insight on providing the board with the information they need to support the organization's objectives and strategies.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. Our topic is board reporting and ERM, and our guests are Trisha Sqrow and Suzanne Christensen of the RIMS Strategic and Enterprise Risk Management Council. They've co-authored a new Executive Report. We're going to talk all about it. But first… [:58] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:14] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". [1:24] On May 14th, Origami Risk will return with a new session, "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility." Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:39] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [1:55] Head over to RMMagazine.com for the Q1 Edition of the Azbee-Award-winning publication, RIMS Risk Management Magazine. [2:06] On with the Show! Our guests are Suzanne Christensen and Trisha Sqrow. As members of the RIMS Strategic and Enterprise Risk Management Council, they co-authored the new RIMS Executive Report, "Board Risk Reporting: How to Deliver Insights that Matter." [2:24] Co-authored by Joe Pugh of the AARP, a RIMS Strategic and Enterprise Risk Management Council member, the report provides practical insights and guidance to risk practitioners who report to their organization's board of directors or overarching governance committees. [2:38] The report provides guidance on aligning this reporting with the board's role and expectations, the steps that should be taken to sustain the alignment, and how to ensure reporting provides the board with the appropriate level of detail. [2:52] The link to the report is available in this episode's show notes. You can also visit the Risk Knowledge section of RIMS.org. If you like what you read and you like what you hear today, be sure to hear Patricia and Joe at RISKWORLD on May 6th at 11:30 a.m. in Room 119-AB. [3:11] They will extend the dialog with the session "From Risk Aware to Risk Savvy: Elevating Board-Level Risk Reporting and Engagement." It will undoubtedly be a fantastic session! [3:21] Let's talk about board reporting right now! [3:23] Interview! Suzanne Christensen and Trisha Sqrow, welcome back to RIMScast! [3:31] Suzanne Christensen and Trisha Sqrow have been carrying the torch for the Strategic and Enterprise Risk Management Council at RIMS for years. Now, they are rejoining us on RIMScast. It's a delight to welcome them both back. [3:57] The new RIMS Executive Report, "Board Risk Reporting: How to Deliver Insights that Matter," was co-authored by Suzanne Christensen and Trisha Sqrow, with Joe Pugh, who is also on the Strategic and Enterprise Risk Management Council. [4:15] This paper is available for a limited time exclusively to RIMS members. It will then be open to the public. There's a lot of great information in it, and it gets right to the point. [4:40] Research shows that while many risk professionals believe their reporting supports board decision-making, most boards are still asking for more information and deeper analysis. [4:47] Trisha says, boards are becoming more interested in understanding the risk profile of the organization, what's being done, and how leadership is managing risk, because we are in a complex time. There are so many risks that are not internal. [5:33] The board is asking: How do we look at this, how can we manage what we can, and prepare for and respond to those things that we can't manage, but that could come and hit us? [5:47] Boards are more interested. They have regulatory concerns and requirements, potential liability, and things of that nature. [6:07] Suzanne agrees with Trisha about the complexity in our post-COVID world with the interconnectedness of risks and the unexpected. Regarding the pace of change, Suzanne says hang onto your seats right now, particularly with AI! [6:30] Boards serve a lot of constituents and stakeholders, and they're feeling pressure. They're looking for more insightful analysis. The report gets into how to figure out what is insightful to a board. Justin notes that each board will have a different definition of insightful. [6:58] One board can change over time as different board members bring different dynamics and expectations to the board. The paper has a point about keeping pace with the board. [7:18] The paper makes the point that effective board reporting is not about what risk teams want to say but about what boards need to hear. [7:43] Suzanne breaks down the difference between the need that the board knows and understands, and articulates, and the things they should also know, to be good board members. That takes exploration. There are things the board might not know to ask. [8:10] Risk professionals have knowledge and context. They need to lean in and say, "You're asking for this, and that's super important, but in addition, here are some other things to be aware of." You need to start with a mutual understanding. There's a process to go through. [8:31] Trisha says the risk practitioner has the largest view of the risk profile of the organization. The board is thinking more of strategic goals and objectives, but they do want to know about the risk. Board risk reporting is a matter of working to connect strategy with risk management. [9:07] The risk practitioner can develop a culture of discussion and openness to discuss risks, mitigations, and possible blind spots. [9:26] Suzanne says one of the primary roles of the board is to make sure the firm has the right strategy and they're executing it appropriately. The biggest risk to the board is becoming irrelevant to constituents and clients. Not all key risks to the organization are equal to the board. [9:59] The board spends more time on the strategic risks. When reporting, you can't forget the operating risks. You can summarize them as "Here are some things to look at that we've got covered. So, let's spend more time over here." [10:46] If you don't first build alignment with executive management before engaging with the board, Suzanne says you'll end up with a modern-day Babylon. You won't end up with support from the key risk owners on the strategic side. The owners of the risk are the decision-makers. [11:02] The decision-makers are management and executive management. It has to be their story, and they have to buy in. Risk practitioners are the facilitators to create that alignment so those conversations can be robust, open, and transparent. [11:44] Trisha says the executive leadership team (ELT) is the liaison and connection to the board. Most risk practitioners may not be in all of the board meetings or interacting with the board regularly. The executive leaders probably are. [12:05] The ELT can bridge the gap. They have the relationships and know the personalities of the board members. They understand how the board likes to receive information and can help the risk practitioner develop reports in that way. They can open the line of communication more. [12:28] Trisha says that in her previous work for DFW Airport and others, they did this through the structure of the Enterprise Risk Management program, having a risk council report periodically to the ELT, so they have the information and can go forth with it. [13:17] Suzanne says the best practice is to spend some prep time to get some baseline knowledge and level-setting across, so when you go into those meetings, the conversations will be richer. You're not educating. You're getting right to what you want to focus on in your report. [13:58] There are different methods for doing that, depending on the organization, with its aptitude and appetite. You can do it in a pre-conversation setting, starting with the ELT, so that they're part of that conversation, helping to drive it. That is ideal. [14:21] A Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [14:41] Public registration is open, and booth sales are still available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [14:50] We will kick off Day 1 with a conversation with Adam Grant. He is an organizational psychologist, best-selling author, and a leading influential management thinker. [14:59] The excitement continues with the announcement of the closing keynote speaker. NFL Hall of Famer, Super Bowl Champion, Emmy-winning broadcaster, and entrepreneur Michael Strahan will be on the main stage on May 6th. Justin is super stoked! [15:15] If you're still on the fence, this is the time to smash that Register button and hear from one of the all-time greats. [15:23] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [15:42] Let's Return to Our Interview with Suzanne Christensen and Trisha Sqrow! [16:10] Suzanne says you want to exude confidence when you initiate a risk dialogue with executive leaders and the board, but you don't want to look so buttoned-up that when something does go bump, they look at you and say they thought you had that covered. [16:42] Trisha says it's very important to build those relationships as you can, so you have direct knowledge of the primary stakeholders you are working with, and so you can communicate better with them and provide good, insightful tidbits of knowledge. [17:10] Boards are to maintain oversight and not get down into the management level. [17:22] Suzanne says good reputational risk management establishes credibility up front, without appearing confident that you can prevent every risk from happening. Something big could happen. You need a good business crisis plan. The board could be involved in a crisis. [18:26] Boards need to be risk savvy, not just risk-aware. The educational part is helping the board understand the organization and the key risks to it. Then they need to be actively engaged so they're asking better questions and leveraging that knowledge to make better decisions. [18:44] That's the evolution you're working on. It's ideal to do some of the educational work up front so you don't have to do it in real-time. It helps to get quickly to the risk-savvy, better decision-making piece. [19:12] Trisha explains the difference between being risk-informed and risk savvy. When you learn risk at the basic level, you know the nuts and bolts. Becoming risk savvy is understanding how it all integrates together. How do we start seeing what risks are interconnected? [19:40] Trisha asks how we see how the external factors that we face in the world could impact our strategic goals and initiatives. You need to mitigate risks, plan, and prepare for them, and think through your overarching organizational resiliency. [20:07] The risk practitioner doesn't just present a list of risks and mitigation plans. They say, here's what we're seeing and how this could impact that. Here are the systemic issues, and talk about what we are doing from that larger perspective. [20:32] Suzanne thinks it's important not to be backward-looking but to have foresight and look around the corner at what's ahead and ask how we can be more nimble as we charge forward. How can we adapt better to the new environment and manage risks in real-time? [20:53] That all helps to build foresight and the ability to think about what could go awry, or what new opportunity we need to take to achieve our goals. These are important points to being risk savvy. [21:29] Suzanne says in some organizations, board reporting is not happening. There is zero cadence. Some organizations report almost quarterly. In those cases, is the board providing oversight or management? [22:06] Consider how much information and what you are reporting; insights beat volume. What are the insights you need the board to know? Determine the level of information the executive team, the audit compliance committee, and the full board need. It's organization-specific. [22:47] Trisha addresses information overload. If you can get some pre-read out there, so that you can then have a conversation, that's ideal. Think about what decisions they need to make to know what information they will need to have in hand to make those decisions. [23:14] The decisions that are being made are different, depending on the group you are reporting to. Strategic decisions are going to need this information; operational decisions will need this other information. [23:39] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period opened on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [24:00] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [24:15] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [24:27] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [24:36] Let's Conclude Our Interview with Suzanne Christensen and Trisha Sqrow! [25:21] Justin asks about rightsizing, in terms of reporting. Suzanne says there is a set of goals or objectives behind right-sizing. When you get to the objectives, you can think about how you rightsize for those objectives. What do they need to know to make those decisions? [25:59] Trisha agrees. It goes back to understanding the audience and what they like to see, and saying, here are things that we need decisions on, or we need your thought process on. [26:21] Trisha has two sessions on Wednesday, May 6th, at RISKWORLD. The first one is with Katrina Gilbert from the DFW Chapter, "Kickoff to Resilience: A Case Study in Risk Management Strategies for Major Event Planning," from 10:15 a.m. to 11:15 a.m. [26:49] Fifteen minutes later, Trisha will present "From Risk Aware to Risk Savvy: Elevating Board Level Risk Reporting and Engagement," with co-author Joe Pugh from AARP. [27:12] Trisha says there's a responsibility on the board to know that the program is operating as it should, it's bubbling up information that should be bubbled up, they're getting exception reporting, and they have confidence that it's coming their way; it's not haphazard. [27:44] There is a little bit of time that has to be spent talking about the program and how the board can have confidence in it. It doesn't have to be a long story. It's "Here's what we're focused on. Here's how we know we're good. We've done a benchmark. We know we keep it current." [24:12] Suzanne says you want to enable informed oversight. You want to think through what they would need so that they can provide oversight to you. [28:18] You need forward thinking, looking at not only what's happening now, but also at what the potential emerging risks are. What are we watching for? How are we preparing for those things? Work to engage the board as you go forward. [28:33] Trisha says to get feedback on an ongoing basis. It's helpful to do annual surveys, but it's also asking in real-time, "Does this make sense; are you getting what you need?" [28:49] You can tell, based on the engagement, the level of discussion, and their questions. They should be asking insightful questions. That allows you to tell a deeper story because they're obviously interested in it. It's not a one-and-done. [29:30] Trisha says it's an honor to be able to speak at RISKWORLD or any RIMS event. She thanks the RIMS team, the SERMC, and others across the committees that selected the sessions. She is really excited to have the opportunity to do both sessions. [29:51] The "Large Event Planning" session will focus on what the DFW Airport has done to prepare for the FIFA World Cup, considering what it looks like to apply enterprise risk management to something of this magnitude and scale. [30:11] Katrina will do a case study, and Trisha will talk about higher-level issues. [30:17] The "Board Reporting" session will showcase the executive report just published that she co-authored. Trisha's excited. She understands her commute is just next door, which helps a lot since they are just 15 minutes apart. [30:43] Justin says we appreciate both of you for all the contributions you've made to RIMS through the years. I look forward to seeing you at RISKWORLD. Thank you for being such wonderful champions of the Strategic and Enterprise Risk Management Council here at RIMS! [31:04] Special thanks again to Trisha Sqrow and Suzanne Christensen for joining us on RIMScast. Check out the new RIMS Executive Report, "Board Risk Reporting: How to Deliver Insights that Matter." The link is in this episode's show notes and at RIMS.org/risk-knowledge. [31:24] The dialogue about board reporting and this executive report will be extended at RISKWORLD on May 6th. Trisha and her other co-author, Joe Pugh of AARP, will lead the session "From Risk Aware to Risk Savvy: Elevating Board-Level Risk Reporting and Engagement." [31:42] That session will be held in Room 119-AB. Prior to that session, Trisha will be co-presenting the session "Kickoff to Reslience: A Case Study in Risk Management Strategies for Major Event Planning," in Room 118-BC with her former DFW colleague, Katrina Gilbert. [32:04] If you haven't done so already, be sure to register for RISKWORLD at RIMS.org/RISKWORLD.  [32:10] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [32:39] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [32:57] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [33:15] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [33:31] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [33:45] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [33:57] Practice good risk management, stay safe, and thank you again for your continued support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Board Risk Reporting: How to Deliver Insights That Matter: Press Release | Download Paper Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times" | April 16 | Presented by Zurich and World Travel Protection "Future-Proofing Your Risk Program: Keeping Pace with Scale, Complexity, and Visibility" | May 14 | Presented by Origami Risk RIMS.org/Webinars   Related RIMScast Episodes: "James Lam on ERM, Strategy, and the Modern CRO" "Risk Quantification Through Value-Based Frameworks" (2024) "The Value of Risk Management: Inside the RIMS 2025 Compensation Survey" "The Future of Strategic Risk Management" "Presilience and Cognitive Biases with Dr. Gav Schneider and Shreen Williams" "RIMS ERM Global Award of Distinction 2025 Winner Sadig Hajiyev — Recorded live from the RIMS ERM Conference in Seattle!" "Risk Rotation with Lori Flaherty and Bill Coller of Paychex" "Energizing ERM with Kellee Ann Richards-St. Clair" "Talking ERM: From Geopolitical Whiplash to Leadership Buy-In" "Tom Brandt on Growing Your Career and Organization with ERM"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Suzanne Christensen, RIMS Strategic and Enterprise Risk Management Council Trisha Sqrow, RIMS Strategic and Enterprise Risk Management Council   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Kiersten Cash regarding the May 6th RISKWORLD session that she is co-presenting with Frank Wickersham, a Workers' Comp defense attorney, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation Insurance, Legal, and Regulatory." Kiersten shares the biggest misconception risk professionals have about medical marijuana in Workers' Comp. She discusses the conversation around cannabis and workplace injury. Justin and Kiersten talk about the growing patchwork of state laws on cannabis and what risk managers should be paying close attention to right now. Kiersten explains the concerns about Workers' Comp paying for medical marijuana. She gives a preview of what to expect in her RISKWORLD session. Listen for insights about the problems of marijuana as a treatment option in Workers' Comp.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. Our guest is Kiersten Cash. She is the Senior Manager for Workers' Compensation and General Liability at the Children's Hospital of Philadelphia. She's going to talk to us all about medical marijuana and Workers' Compensation Claims. But first… [:58] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:14] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:29] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:47] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:02] Head over to RMMagazine.com for the Q1 Edition of the Azbee-Award-winning publication, RIMS Risk Management Magazine. [2:15] On with the Show! Our guest today is the Senior Manager for Workers' Compensation and General Liability at the Children's Hospital of Philadelphia, Kiersten J. Cash. She's here to discuss what's going on with medical marijuana and Workers' Compensation claims. [2:31] This will serve as a bit of a preview of her session at RISKWORLD on May 6th at 10:15 a.m. in Room 120-BC, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation." [2:43] We will discuss whether cannabis is still an effective treatment for chronic pain due to workplace injury and what could happen if the U.S. Government were to change its schedule from number 1 to number 3. [2:54] We're going to learn about Kiersten's fascinating work and her career. Let's get to it! [3:00] Interview! Kiersten Cash, MBA, welcome to RIMScast! [3:23] Kiersten is with the Children's Hospital of Philadelphia, or CHOP. Kiersten Cash has a session at RISKWORLD, "Reefer Madness." [4:27] Kiersten has been in the world of Workers' Comp for a little over 20 years. She started as an adjuster. She adjusted national market claims and middle market claims for 10 years. Then she went to the broker side. [4:46] She managed the claim program for the broker's largest client at the time, along with 23 other claim programs, covering all lines of insurance. Next, Kiersten worked for Devereux Advanced Behavioral Health, a residential treatment facility. [5:06] Then Kiersten moved to CHOP, where she manages all of Workers' Comp, General Liability, and Auto for the health system. [5:22] Kiersten says Workers' Comp is one of those industries where you kind of fall into it. In the final year of her graduate program, she needed a job. She met someone who worked at Liberty Mutual, who said they were hiring claims adjusters. She took the job. [5:44] Kiersten says she tried to get out of this industry on numerous occasions, but the industry apparently loves her too much. She's glad she stayed because she really likes where she has ultimately landed, CHOP. [6:52] Kiersten is a member of the Delaware Valley Chapter of RIMS, the oldest RIMS chapter. RIMS is 76 years old. The chapter is 75 years old. Chapter President Tom Armstrong was on RIMScast recently, excited about all the cool things the host chapter is doing for RISKWORLD. [7:44] Justin asks what Kiersten feels is the biggest misconception risk professionals have about medical marijuana and Workers' Compensation. She thinks the biggest misconception is that there is a difference between medical marijuana and recreational marijuana. [8:18] Kiersten says, as an employer, we do not want a trace in our employees' system while working, whether prescribed by a doctor or not. Legalizing marijuana for medicinal use does not excuse an employee from being impaired at work. [8:36] Kiersten thinks that, down the pike, this will cause a major conflict as this continues to be a topic of conversation. Kiersten hopes to dispel that misconception in this episode of RIMScast and in her presentation at RISKWORLD. [9:12] Kiersten says she has not had to have this conversation at CHOP from a Workers' Comp perspective, as they have not seen an influx of chronic pain or severe injuries in her tenure. That's good from the employer's perspective, as injuries are under control. [9:38] Kiersten says that when we get into back surgeries, shoulder surgeries, or other major surgeries, she definitely sees this conversation becoming an issue. [9:53] Kiersten says she is very good at interacting with the medical providers involved in her program. If medical marijuana were to become a treatment option, Kiersten would need to sit down with the pain management specialist or physician to talk about it, so it is monitored. [10:29] The goal is not to put an employee on medical marijuana and keep renewing the card so they're just out there, collecting marijuana. There has to be a treatment plan with a target date. [10:53] The goal of Workers' Compensation is always either to get the employee back to work or to their baseline, so they can function in society as a human being. [11:06] Kiersten has not had to deal with prescription opioid claims, thankfully. In her adjuster days, she has seen situations where opioids have been out of control. There were times when she would propose detox programs for employees who were addicted to opioids. [11:32] It would start with something like a back surgery. The employee was still in pain, and instead of addressing the cause of the pain, they would get opioids and end up getting addicted to them to the point that weaning off the opioids was not an option. [11:55] Talking about medicinal marijuana, could marijuana have the same effect? That's one thing we are not sure of right now. [12:25] Justin notes that opioid addiction often leads to huge nuclear verdicts and settlements, some of which are still being litigated. [12:47] Kiersten brings up the socioeconomic factor of the claim. You can't say, this person had back surgery; this is going to be a situation where they're going to be addicted to medical marijuana, or they're going to be addicted to opioids. [13:08] In her 20 years in the industry, Kiersten has seen that the motivation and the socioeconomic status of the employee, and their need to get back to normal, will always play a factor in whether this becomes an issue or is just something they have to do after surgery. [13:48] Kiersten has worked with plenty of employees who have had surgery, used opioids for three to five days, and asked what they can have instead, because they don't like this medication. That's something to take into account when having this conversation. [14:17] Kiersten talks about reimbursement costs and how long the payment would be required for medicinal marijuana, if approved. Is the medical marijuana prescribed for the work accident or for a pre-existing chronic condition that they claim was aggravated by the injury? [15:11] A Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [15:27] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges are now available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [15:45] Our guest today, Kiersten Cash, will be a session speaker at RISKWORLD. We are excited for her and also for our just-announced closing keynote, NFL Hall of Famer, Super Bowl Champion, Emmy-winning broadcaster, and entrepreneur, Michael Strahan. [16:09] Michael Strahan will be on the main stage on May 6th. Justin is super stoked! If you're still on the fence, this is a fine time to smash that Register button and hear from one of the all-time greats. [16:21] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [16:41] Let's Return to Our Interview with Kiersten Cash of the Children's Hospital of Philadelphia!  [16:49] On May 6th, Kiersten Cash will deliver the session at 10:15 a.m. in 120-BC, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation." Kiersten will co-present with Frank Wickersham, a Workers' Comp defense attorney with Marshall Dennehy. [17:17] Kiersten says that after the presentation, she and Frank will leave time for Q&A. Kiersten says that audience participation makes her feel like she did her job. [18:07] Kiersten asks, why should the employer ever have to pay for marijuana. If an employer starts paying for medicinal marijuana for employee A, B, and C, they'll tell their friends they got a medical card after a work injury, CHOP is paying for it, and this is all you have to do to get it. [19:13] That can become a big issue. Kiersten thinks the biggest thing is for the employer to control what they will pay for, if they have to pay for anything, and to keep it contained, so people who are not hurt but want free medicinal marijuana do not become an issue for Workers' Comp. [20:14] In Pennsylvania, there is a mental-mental claim. People can initiate a mental-mental claim, for example, if they get into a dispute with a co-worker and don't feel comfortable coming to work because they don't want to work with said co-worker. [20:31] Mental-mental claims are very hard to prove. In Pennsylvania, nine times out of 10, they are denied. The burden of proof is on the employee to show that their mental issue is from a condition that arose out of something that happened at work. [21:08] Different states may have different laws that affect Workers' Comp. Kiersten always pays attention to what is going on in the Tri-State Area and the Mid-Atlantic Region. If something passes in one state, it might be about to pass in the next state. [21:50] Justin asks about Cannabis potentially shifting from a Schedule I to a Schedule III drug. Kiersten has not heard of that happening in Pennsylvania. Schedule III classifies a drug as having a medicinal benefit, as long as it's prescribed by a physician. [22:32] If the treating physician for the work injury prescribes a Schedule III medicine, the employer could be responsible for ongoing payment indefinitely. [22:48] Schedule I drugs are not classified as having a medicinal benefit and are considered highly addictive, similar to heroin and LSD. [23:03] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period opened on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [23:24] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [23:39] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [23:51] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [24:00] Let's Conclude Our Interview with Kiersten Cash of the Children's Hospital of Philadelphia! [24:12] Kiersten is a department of two: herself and her Workers' Comp Specialist. They run the program together. [24:39] Kiersten mainly talks to managers, as she does a lot of accident investigation. Kiersten utilizes Teams a lot to establish relationships with the managers. They have a lot of videoconference calls. [24:55] They send a lot of emails back and forth, but her initial contact with everybody is through Teams, so they know who Kiersten is and what she looks like. She sets up tours and in-person meetings with staff, so they're comfortable with her, and she builds rapport. [25:20] If something is going on, Kiersten will go into the office and attend whatever meeting she needs to attend. The biggest way Kiersten gets to know a department is by setting up a meeting to do either shadowing or a tour of the department. [25:37] CHOP is a large organization. Once Kiersten visits a department, and everybody knows her, they're more comfortable with her when it comes to somebody getting injured. [25:57] Kiersten establishes herself as a contact so that for anything about Workers' Comp, they know to reach out to her. [26:26] Kiersten also has vendors that help CHOP navigate claims. She builds and maintains vendor relationships as part of her job. She goes to vendor locations, tours their facilities, and meets the staff. [26:57] Kiersten meets her nurses in person. Kiersten has met in person every nurse who works on her program. She has spoken to them, and they understand how the program is run. [27:09] Kiersten has a very good relationship with all of the outside vendors who manage her program, so that everybody is on the same page and everybody knows what the common goal is for each claim. [27:47] Kiersten's advice for the next generation of risk professionals is that Workers' Comp is absolutely the best line of insurance to learn with and hit the ground running in the industry. [28:03] With Workers' Compensation, you learn about legal, medical, how to pay somebody's wage benefits when they're out of work, what's related to work, and what's not related to work.  [28:22] You learn how to decipher a claim. You learn how to investigate properly, to understand what you should be paying for, and what you should not be paying for. Workers' Comp is very complex. Trust the process. [28:48] Being a claims adjuster is hard work, but it is only the first step to getting into a much bigger world of risk management. Kiersten says if she had not adjusted claims for 10 years, she would not be able to do the job that she has now. [19:07] Understand that there is a reason for everything that happens in your career, and that you're not stuck. If a door closes in your face, understand that just because that door closes, it doesn't mean another door will not open. [29:37] Michael Strahan is the RISKWORLD closing keynote on May 6th. Kiersten will be there. Is she stoked to see Michael Strahan? Kiersten's an Eagles fan, but back in the Strahan days, she would only watch the New York Giants just for him. It's exciting that he's there! [30:20] Justin says it has been such a delight to finally meet you and to have you on our show. Everyone out there, please remember to go to Room 120-BC for "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation," at 10:15 a.m. on May 6th. [30:53] Special thanks again to Kiersten Cash of the Children's Hospital of Philadelphia. Check out her session, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation," at RISKWORLD on May 6th at 10:15 a.m. in Room 120-BC. [31:18] Register at RIMS.org/RISKWORLD today. [31:22] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [31:50] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [32:08] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [32:26] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [32:42] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [38:56] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [33:09] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | July‒Sept. 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute Cannabis coverage in Risk Management Magazine RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Claims Management" | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times" | April 16 | Presented by Zurich and World Travel Protection RIMS.org/Webinars   Related RIMScast Episodes: "Canna-Business Risks with Nikolas Komyati" "Opioid Awareness and Workers Comp Risks with Raji Chadarevian of the NCCI" "Bridging The Workers' Comp Talent Gap with Nikki Jackson" "Tom Armstrong on Leading Risk at Comcast and RIMS Delaware Valley Chapter" (2026) "Navigating Marine Risks in 2026 with Joshua Gold"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Kiersten J. Cash, MBA Senior Manager, Workers Compensation & General Liability Insurance Administration, Office of The General Counsel The Children's Hospital of Philadelphia Roberts Center for Pediatric Research   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Anderson Kill Shareholder Joshua Gold on the May 5th RISKWORLD session that Joshua is co-presenting with RIMS Past President Lance Ewing, "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." Joshua shares knowledge on two of his areas of practice, cyber and maritime insurance. Joshua offers some insight into these newest and oldest of practice areas, and how they have begun to intersect. Maritime insurance carries special language and rules, and Joshua and Lance will cover those and answer attendee questions in their session. Justin and Joshua discuss current maritime threats in the Middle East that will likely be discussed in the session. Justin and Joshua comment on Law Day, an annual commemoration of law on May 1st. Listen for a greater understanding of maritime shipping insurance and the importance of promptly filing claims.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. We will be joined by RIMS Risk Management Magazine contributor Joshua Gold, Shareholder at Anderson Kill. He's making his RIMScast debut to discuss Marine and Cargo Risk. This is timely. But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:48] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:03] Head over to RMMagazine.com for the Q1 Edition of the Azbee-Award-winning magazine, RIMS Risk Management Magazine. [2:15] On with the Show! Our guest today is a shareholder at the law firm Anderson Kill. You've seen his byline in RIMS Risk Management Magazine, and you've seen him on RIMS stages regionally, nationally, and globally. [2:30] Joshua Gold is here to discuss marine and cargo risks generally, and how he will be co-presenting a session at RISKWORLD on May 5th, called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." [2:50] He will present that alongside RIMS Past President Lance Ewing. We expect that session to be highly attended. Joshua is here to give you a preview of that session, talk about how cyber can intersect with marine and cargo risk, and offer some practical risk management takeaways. [3:11] Law Day is coming up in the U.S. on May 1st. Joshua has been practicing law for three decades. We'll find out what Law Day means to him in 2026. Let's get to it! [3:24] Interview! Anderson Kill Shareholder Joshua Gold, welcome to RIMScast! [3:51] Joshua says RIMS is an amazing system for sharing information and education. Joshua couldn't be prouder to be speaking at RISKWORLD 2026. [4:13] Joshua has written for RIMS on topics from cyber to marine insurance. Joshua thinks that cyber risk management is fascinating because cyber is new for many policyholders, in terms of implications, perils, how insurance will respond, and what the products are. [5:15] It's fascinating to see the intersection of technology, insurance, and law. It all comes together in cyber. These perils may be getting more perilous over the next few years before we may start turning the corner. [6:00] Joshua's session on May 5th at RISKWORLD is called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." Joshua will present with former RIMS President Lance Ewing. [6:17] Joshua says he is in both the newest thing in insurance and law, cyber, and the oldest thing in insurance and law, marine. Most of his day-to-day focus is on either end of the spectrum. [7:16] As much as Joahua loves cyber, he is intrigued with maritime insurance and maritime law. It's esoteric and old. It has special rules. If you don't deal with this type of insurance and law regularly, it can be challenging. [7:46] The insurance companies are typically very well-versed in the insurance rules and doctrines. Most policyholders are much less so. There's an information imbalance. [8:00] Joshua always looks forward to educating risk managers about this area. It's so detailed and different. Some might say it's antiquated. It's a challenging area, and we couldn't have a better example of that than with recent current events and hostilities in the Middle East. [8:42] Joshua says, as dangerous and harrowing as the situation exists in certain shipping lines and energy channels, we've seen examples of disruptions in recent times with drought conditions affecting the Panama Canal and other shipping lanes. [9:02] Joshua recalls the Suez Canal freighter mishap. The Suez Canal was shut down while an international engineering effort was launched to free the freighter and free up shipping lanes. [9:29] The current shipping disruption caused by an escalating war will present real challenges for both shippers and energy markets. We're watching that in real time. [9:54] Joshua and Lance don't want a current events discussion. They want to educate policyholders on principles that apply, whether they're dealing with a Suez Canal situation, an Iranian conflict, modern-day pirates in open water, or thieves breaking into your warehouse. [10:37] Joshua and Lance will emphasize certain relevant points like detours, delays in shipping, downstream risk, risk to certain types of cargo, cancellations for war risk coverage, and other marine insurance products. [11:06] There can be a real aftermath, and we're not sure where we are, as of this recording. We'll know more in May at RISKWORLD in Philadelphia. Now, we can only brace for the worst. [11:32] Joshua and Lance are looking to educate policyholders on all of these issues, including ones that will be front-burner, given the hostilities now. [11:52] Joshua says marine insurance policy language is cloaked in words of antiquity. Sometimes you'll see a marine policy that looks like a standard property all-risk policy, and sometimes you'll see one that contains 17th-century nautical and piracy terms. [12:32] It's important to make sure that you understand the rights, protections, obligations, and contingencies under insurance. [12:48] Most marine insurance policies will have a one-year provision the insurance company will argue says that if there's a fight over the claim payment, the amount, or the timing of the payment, that has to be brought in a lawsuit commenced within 12 months of the loss event. [13:14] For people who have never had to go through a complicated claim, a year may sound like plenty of time. But these claims can take months or even years for resolution. Sometimes they don't get resolved without some coverage litigation or alternative dispute mechanism. [13:43] Most policyholders are not accustomed to seeing a one-year contractual statute of limitations to bring a fight. You don't want to be in a position where the insurance company will argue you may have forfeited your coverage rights if you didn't act in time. [14:11] Policyholders may not ever get into that realm, because they've never had that problem, but it's a point of being educated and knowing the lay of the land for policyholders in this arena, insuring goods over open water, in warehouses, on docks, or on a truck. [14:58] A Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [15:18] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges are now available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [15:36] Our guest today, Joshua Gold, will be one of the session speakers at RISKWORLD. We are excited for him and also for our just-announced closing keynote, NFL Hall of Famer, Super Bowl Champion, Emmy-winning broadcaster, and entrepreneur, Michael Strahan. [15:55] Michael Strahan will be on the main stage on May 6th. Justin is super stoked! If you're still on the fence, this is a fine time to smash that Register button and hear from one of the all-time greats. [16:07] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [16:28] Let's Return to Our Interview with Joshua Gold of Anderson Kill!  [16:44] Joshua says don't get fooled by the title of your insurance policy. The devil is in the details. You may have Ocean Marine Cargo Coverage, but you may get endorsements, like a warehouse-to-warehouse endorsement. [17:15] You may be buying a product called Stock Throughput. You're looking for coverages that may apply not just for cargo on a ship, but also for cargo that may be at rest, stored in a warehouse where it's being loaded from the ship onto the dockside. [17:48] There are many areas where you have to be aware of things developing in the marketplace and the fact that your insurance may now carry on well beyond the vessel's hull. [18:05] There's another area of marine liability coverage which may be implicated, given the hostilities in the Straits of Hormuz and perhaps elsewhere, and the escalating nature of the conflict in the Middle East, so we will have to see how that plays out. [18:31] Joshua always recommends that policyholders work with experienced insurance brokers. [18:39] Joshua says it is a privilege to give this discussion in May with Lance Ewing, a seasoned risk manager who has worked on the brokerage side and the insurance company side, as well as the risk manager policyholder side, so he has every perspective. [19:04] One of the things they will do at RISKWORLD is to make sure that not only do you hear from a coverage lawyer, but also from a risk manager, like most of the audience, who can speak to risk managers about what is important to their risk management approaches. [19:34] They hope that that's going to be useful for audience members even if they're not in the same industry as Lance. Justin points out that one never knows where they might end up next. This is a great way to become more well-rounded. [20:08] When evaluating marine cargo policies, you always want to look at the warehouse-to-warehouse endorsement. Find a broker that's well-steeped in marine cargo coverage. They can often customize endorsements that are important to your business. [20:51] If you're transporting goods that are capable of being spoiled or have to be refrigerated, or have to be in the hull of the ship, protected from the elements, those issues can come up through endorsement, special policy provisions covering temperature-controlled goods. [21:22] Joshua mentions that electronics may require being flown as air cargo. You want a system with customized coverage wherever you can get it. The broker knows that Lloyd's Marine Group has an example of an endorsement that covers a certain type of peril or cargo. [22:06] You might have a provision in your policy as part of a base form, but you might want fraudulent bills of lading coverage. There is now a technology overlap with shipping, an intersection between cyber and marine. [22:54] Some countries are GPS spoofing to confuse ships, which can be fatal if a ship goes into rocks or a bank in bad weather. This has implications, as we are seeing insurance companies slap onto marine products some type of cyber exclusion. [23:37] You'll want to know that just because technology had a role in the loss, you're not forfeiting all of your coverage. Joshua says we're certainly seeing it with piracy claims and theft claims. We're seeing it on the roadways. Truckers are getting more and more targeted. [23:58] A truck leaves a warehouse with goods that have been shipped on an overseas voyage, and there's an argument potentially that you've got federal maritime law applying in admiralty. What are the implications for coverage even though it's now inland on a train or truck? [24:23] We're seeing more cargo theft in the realm of trucking, in addition to stuff missing at the dock and warehouses being broken into. It's a perilous situation for those dealing with cargo. [24:43] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [25:04] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [25:19] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [25:31] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [25:39] Let's Conclude Our Interview with Joshua Gold of Anderson Kill! [25:48] Josh Gold will be presenting a special session on May 5th at RISKWORLD, called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." He'll be co-presenting with RIMS Past President Lance Ewing. [26:13] Justin says if he were in the audience for that session, he would ask what the critical steps are that risk professionals should take immediately after a cargo loss to preserve their coverage rights. [26:39] Joshua says the first step always is to give prompt notice. It complicates matters if the insurance company can argue that the notice was untimely. The first thing is, get the notice in. You won't have all the information. Notice is unlike wine; it doesn't get better with age. [27:17] Give that prompt notice first. Then support your claim. As quickly as you can, gather photographs, video evidence, and documentary evidence, and give as much as you possibly can to the insurance company. Let that claims process unfold promptly. [27:43] You don't want the insurance company delaying payment because they say they didn't get the information they needed to process the claim. Try to give them that information. [27:59] Joshua says you can absolutely add more documentation. You can start by saying this is what we know now, and we reserve the right to supplement this information when we learn more about our loss. [29:03] There are surely deadlines built into your policies. Go through your policy and calendar dates for proof of loss, statement of loss, and getting certain claim information in. Put those benchmarks in the calendar and hit them as often as you can. [29:45] Joshua says with a cyber claim, there's no reason to hold back because you're incurring costs from the start with your forensic team and your breach coach. With cargo, Joshua says, I would give notice as quickly as you can, even if it's not as robust as anyone would like. [30:13] Get notice off as soon as possible. Enlist your broker's help as quickly as you can. If you have the information, get your insurance policy out, look at the notice provisions, and call your broker. Brokers are a great way to submit insurance claim information. [30:58] The broker should be helping guide you. You've already paid their commission. Enlist their help at the outset. [31:07] Justin asks if risk professionals need to tell executive leadership immediately. Joshua says there should be a dialogue. He appreciates the systematic and scientific risk management approach RIMS brings and the recognition that risk management is getting from the C-Suite. [31:48] Not every risk manager is at the C-Suite level, but they can communicate with the Treasurer, the CFO, or the Law Department, depending on the organization. Internal communications are important. [32:11] Include the Law Department in communications, to ensure that privilege is protected and conversations are not being exploited if there's a conflict over the coverage. Depending on the importance of the potential loss, the COO and the CEO may need to be involved. [32:53] Justin wants the RISKWORLD attendees to ask questions. Joshua and Lance have built time in during the session for questions. They love to take questions on the fly. They believe that if they spend half of the time in a dialogue with the audience, that is time very well spent. [33:50] Joshua has been practicing law for 31 years and has been with Anderson Kill in the New York office for almost 31 years, specializing in insurance coverage trade. [34:18] Justin notes that Law Day is an annual commemoration held on May 1st to celebrate the rule of law and cultivate a deeper understanding of the legal system. Joshua says we're always happy to get some kind of positive acknowledgment, accolades, recognition, and a special day. [35:20] This year's theme is "The Rule of Law and the American Dream." The idea that no person is above the law is what ensures the rights of the people to live their lives as freely as possible and to pursue their dreams. Joshua is a full supporter of that doctrine. [35:40] It has been such a pleasure to see you again. You are a regular contributor to RIMS Risk Management Magazine. We have links to some of your articles in this episode's show notes. We're going to see you on May 5th at RISKWORLD in Philadelphia. See links in the show notes. [36:03] Joshua's last words: Please show up on Cinco de Mayo, we're speaking on the afternoon of May 5th. We'd love to see you then in Philadelphia at RISKWORLD. Lance and I are looking forward to hearing your questions and talking about marine cargo and what's going on then. [36:26] Justin says, You've always been very supportive of me and of RIMS. I remember very clearly that somebody dropped out of a cyber panel, and you and Bill Passannante stepped right in for us, so I've always felt a strong connection to you and the professionals at Anderson Kill. [36:57] Special thanks again to Anderson Kill Shareholder Joshua Gold for joining us here on RIMScast. I have links to his contributions to RIMS Risk Management Magazine in this episode's show notes. [37:10] If you will be at RISKWORLD, remember to attend his session on May 5th at 3:30 p.m. on the Global Stage. It is called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." [37:24] It will be co-presented with RIMS Past President Lance Ewing. Register at RIMS.org/RISKWORLD today! [37:32] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [38:00] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [38:18] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [38:36] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [38:52] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [39:07] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [39:19] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! More from Joshua Gold in RIMS Risk Management Magazine Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management Magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops Claims Management | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times" | April 16 | Presented by Zurich and World Travel Protection RIMS.org/Webinars   Related RIMScast Episodes: "RIMS 2022 Goodell Award Winner Lance Ewing" "World Water Day and the Circular Water Economy with Ralph Exton of WEF" "Supply Chain Integrity and Sustainability with Nicole Sherwin of EcoVadis" "Navigating Shipping Risks in 2022 with Capt. Rahul Khanna"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Joshua Gold, Anderson Kill Shareholder, Anderson Kill   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Tom Armstrong, a Global Risk Director for Comcast and the President of the RIMS Delaware Valley Chapter. Tom shares what inspired him to pivot from studying music education to studying risk and insurance, and how his professors guided and inspired him into a career in risk management. Tom went directly from graduation into a risk management role, eventually landing at Comcast just as it acquired NBCUniversal, transforming from an ISP and cable supplier into a multimedia and theme park powerhouse. Tom discusses how the Risk Management Department works at Comcast. Tom tries to build long-term relationships with his interns that endure when they move on. The RIMS Delaware Valley Chapter is the host chapter for RISKWORLD 2026, held from May 3rd through the 6th in Philadelphia, Pennsylvania. The chapter is also celebrating its 75th Anniversary. Tom shares his enthusiasm for these events and for a member reception on May 1st, linking the chapter's 75th Anniversary to RISKWORLD. Listen for ideas on advancing in your risk career and in your RIMS chapter.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:28] About this episode of RIMScast. Our guest is Tom Armstrong. He is a Global Risk Management Director at Comcast. He is also the President of the Delaware Valley Chapter of RIMS, which is celebrating its 75th Anniversary. Lots to discuss! But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:47] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:05] On with the Show! Our guest today is a Director of Global Risk Management at Comcast. He oversees construction, crime, contracts, and executive risks. [2:16] We will learn what it takes to be a Global Risk Director for one of the top communications companies in the world, as well as a household name and brand. [2:27] We're also going to talk about all the joviality surrounding the Delaware Valley Chapter as they celebrate their 75th Anniversary. They happen to be the host city for RISKWORLD 2026, so we'll learn what they have in store for us. Let's get to it! [2:43] Interview! Tom Armstrong, welcome to RIMScast! [3:10] Tom says he is fortunate to hold the positions of Global Risk Director for Comcast and President for the RIMS Delaware Valley Chapter. In each case, he is one of a team that makes it happen. [3:47] Tom shares his career path. He went to Temple University intending to major in music education, to learn to conduct high school choirs and marching bands. After two and a half years into his degree, he decided it was not for him. [4:11] Tom transferred to the business school, where he was fortunate to take an Introduction to Risk course taught by Professor Barbara Manaka, now Chairman of the department there. She told him he'd make a great risk manager. [4:27] With help from Professor Manaka, Professor Robert Drennan, and the rest of the wonderful staff at Temple, Tom finished his four-year degree in only five years! He was one of the few to be hired into a risk management role straight out of school. [4:43] He started at CDI. In 2008, the position was eliminated, and Tom moved over to Aramark. He spent about three and a half years at the risk department. Then he got a call that Comcast was looking for someone to help them with the review of insurance language in contracts. [5:01] Tom was a contractor for his first 18 months at Comcast. A new risk manager came on board, Sandy Aspinall, and he brought Tom in-house as a senior analyst to review insurance language in contracts. [5:24] Tom was able to add on some additional scope, supporting construction, property, executive risks, the crime program, and whatever comes up that needs some support. Like the rest of the team, he's happy to step up. [5:57] Tom says that he never had a great talent for music. What he really liked was the community that a marching band or a choir brought to him as a kid in high school. He has found that this industry can give him a lot of the same community. [6:09] Community is why Tom wants to be a part of RIMS. It's why he stepped up to lead a RIMS chapter. It's why he appreciates his peers at Comcast. [6:23] Tom joined RIMS through meeting participation early in his career, in 2009 or 2010. Aramark supported his involvement in visiting and joining certain meetings. In 2017, he stepped up to be Treasurer of the Delaware Valley Chapter. He's been President for about three years. [6:46] Some staffing changes happened in the RIMS and the RIMS Delaware Valley Chapter in 2017 and 2018, opening up positions like Treasurer. Tom mentions former Treasurer Deborah Saunders and former RIMS President Robert Cartwright Jr., now a huge asset to the chapter. [7:53] Tom says he enjoys his work. He is one of six Directors and Senior Directors on the team, each reporting up to Sandy Aspinall. They each have their slice of the business. Tom gets to work on some really cool stuff. [8:03] Comcast deals with cable and internet delivery. Tom says there are some fun elements to it. They deal with theme parks and movie studios. They put solar panels on roofs. When Tom joined Comcast, he thought it was a boring cable company, but it is light-years more than that. [8:42] Tom and his peers sit at the corporate level at Comcast but have responsibilities across almost all Comcast subsidiaries, with a few exceptions that have their own approach to risk. They have no line authority over any of the subsidiaries. [8:58] Tom says everything we do is through demonstrating our value and persuading through convincing arguments. Risk Management doesn't say, "You have to do it this way." [9:14] They say, "You're not going to say Risk Management approved this, unless we work together and we provide you with the advice that we think will let you do your business in a way that protects the organization while letting you do the cool and inventive things that you do." [9:39] From day one, Tom's been involved in the review of insurance language in contracts. His team reviews 1,500 contracts in a year. They care about what they're doing, from the smallest contracts to the biggest engagements. They inform business leaders to make good choices. [10:21] For Tom, contracts are a framework through which he can look at the operations of the business. If contractors are going to enter customers' homes, they need commercial general liability to make any damages right. [10:38] Similarly, for people who handle customer data, design attractions in Comcast parks, or license intellectual property that Comcast distributes. In all of those situations, Comcast cares about how they engage. [11:07] Tom says the nature of the business to which they apply the risk framework has changed again and again. When Tom came on in 2012 as a contractor, Comcast was just starting to acquire NBCUniversal. [11:22] They went from an Internet Service Provider and a cable operator to a multimedia powerhouse with theme parks, movie studios, and TV production. That was a massive shift in how Comcast operates, and Risk Management had to learn to manage a new suite of risks. [11:42] That happened in a different way when Comcast bought and started operating Sky UK a few years ago. Every time Comcast introduces another element of business, Risk Management has to figure out how that fits into how they manage risk. [12:08] Peacock is a huge piece of the puzzle in terms of how Comcast is approaching its consumers and delivering content. [12:16] From a risk perspective, it mirrors what Comcast used to do from a linear distribution, but through very new channels and with less mature partners. Risk Management has to think about how the partners are capitalizing their exposures and how that cascades onto Comcast. [12:32] A Quick Break! RIMS is once again supporting the FERMA Global Risk Manager Survey 2026. [12:43] Now in its second consecutive global edition, the survey, led by FERMA, brings together insights from Europe, the U.S., Latin America, Asia Pacific, and Africa, offering a truly international perspective on how the risk management profession is evolving. [12:58] Surveys are anonymous, and the final report is free. The deadline to participate is March 31st. A link is in this episode's show notes. [13:08] RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [13:25] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges are now available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [13:43] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [14:00] Let's Return to Our Interview with RIMS Delaware Valley Chapter President Tom Armstrong!  [14:23] A former colleague told Tom: You've got to be nosy to do this job! Commonly, someone will give you an answer that they think you want to hear when you start asking risk questions. [14:36] You have to ask at least five times. Why is it like this? How are you going to achieve that? How much is this really going to cost? Your vendor said that buying insurance is expensive, but can they define expensive? For all those questions, you can't just take an answer at face value. [14:55] There has to be a level of ethics and willingness to behave with integrity, as well as a willingness to roll up your sleeves and get the job done. [15:14] Tom says most of his regular partners understand the questions he's going to ask now. He doesn't have to ask why as often as he used to, because they've already done some of that work. [15:23] Tom says it helps to know your partners and the mindset they've brought to their conversations with their vendors. [15:34] Tom has one direct report, Juliana, who started two years ago to help him with some contract review work and let him focus on other things. Over the past four years, Tom has had four different interns. Two of them just won a CICA award. [16:34] To help build the future of the industry, Tom gives work to interns not as busy work, but work that can be put to a demonstrable use. [16:42] One intern helped move file storage from a network drive to a new SharePoint. Another helped finish a streamlined intranet page to deliver advice to internal colleagues. [16:59] All of that came with a reason to go and talk to every colleague and understand how their work fits into the risk management picture. Tom tries to find ways to make the intern's work meaningful. [17:19] The two interns posted about their CICA captive award. They have kept in touch with Tom and recently texted him for advice. Tom tries to build long-term relationships. [17:42] Tom says Comcast's Risk Management department has been fairly stable for the last few years. It would be great to have more hands on deck, but there is a budget, just like there is in every department in the organization. [18:15] Tom says in Orlando, they have Universal's Epic Universe, which opened in Spring 2025. They still have Universal Studios' Islands of Adventure and Volcano Bay theme parks. Tom says Epic Universe was such a cool project to work on. Tom started on it in late 2018. [18:35] Tom says they put the park together with their partners at Universal Creative. Tom's part was to insure it. [18:52] In 2020, as COVID started to become more noticeable, Tom was just about to bind coverage on the construction program for Epic Universe. It was a massive undertaking on 2,000 acres. There were 1,200 contractors with 7,000 people on site. [19:09] Just as Tom was about to hit Bind, COVID happened. They had to pause their whole marketing efforts and, about nine months later, re-market the entire program, deal with all of the changing supply chain issues that came along with COVID. [19:25] Comcast is very proud to have opened Universal's Epic Universe last year. It has been met with enthusiastic public reception. [19:36] Justin says that this episode was recorded on March 13th, six years to the day after a national emergency was declared for COVID-19. Tom was in Italy for his wedding on that day, and they had to cancel due to COVID and come home. They finished the wedding last year. [20:13] Justin says that for a risk manager, taking a theme park from conception to completion has to be a dream job. When people tell Tom insurance is boring, he asks them if they've ever received an email about the Ministry of Magic, or a giant theme park like Epic. [20:54] Last November, Sandy took the Global Risk Management Department to Orlando for an off-site all-hands meeting. They walked through the park and experienced some of the rides. It was nice to get back to the park without a hard hat after the construction site inspections. [21:30] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [21:55] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [22:10] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [22:22] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [22:31] Let's Conclude Our Interview with RIMS Delaware Valley Chapter President Tom Armstrong. [22:53] The Delaware Valley Chapter is celebrating its 75th year. They were close to New York, so they were the second chapter to be established. Tom said they've had a series of amazing individuals in the chapter, including Robert Cartwright, Jr., who have made the chapter what it is. [23:26] Tom says the chapter has a rich pool of talent in the Philadelphia area. "Delaware Valley" refers to the river, not just the state of Delaware. It's the Greater Philadelphia Area. Ben Franklin founded the first insurance company in Philadelphia. The city has a long history of insurance. [23:46] There are many awesome companies headquartered in Philadelphia, including Comcast and Aramark. The great professionals in the area have enthusiasm and a willingness to step in. [24:06] Tom says the chapter has a hard-headed insistence on continuing to persist. Like in a lot of organizations, coming out of COVID, it has been harder to keep people showing up in person. They hold meetings on the first Tuesday of every month at 8:00 a.m. That can be a tough trek. [24:32] Some members drive two hours to attend the meeting. The chapter is looking at the results of recent member surveys and might be making some changes to improve attendance. The chapter has a great community, and they try to foster what's already there. [25:04] Tom says the chapter has a couple of popular social events. Golf is huge. A Phillies Outing is aimed toward both rising risk professionals and mature risk professionals. Last year, they showed up at Citizens Bank Park with 65. That kind of event helps engage members. [25:35] The chapter partners with local Universities. Chapter VP Rory Magargee partnered last year with St. Joseph's University and helped them win a Black & Gold Award through Gamma Iota Sigma for the Networking for Newbies event to help students interact with professionals. [26:05] Justin says that the rising risk professionals were in high school or middle school when COVID hit. Professionals have been tracking how that would play out later on in their careers and personal lives. Students had gotten used to a virtual setting and then had to transition back. [26:49] Tom says, based on a recent membership survey, the chapter is looking at changing the upcoming programming year, starting in September, to preserve what works in the current approach and enhance it to bring in some folks who might not attend in person at 8:00 a.m. [27:31] From May 3rd through 6th, RISKWORLD 2026 will be in Philadelphia. The Delaware Valley Chapter will focus on its membership to celebrate its 75th year. [28:00] On Friday, May 1st, chapter members, some RIMS leaders, and sponsors will gather at a reception at a venue soon to be announced. Tom extends his thanks to the sponsors who are making it possible. [28:20] The chapter is passionate about Philadelphia. Tom is looking forward to RISKWORLD 2026 and showing the industry the best that Philadelphia has to offer. [28:25] It's not just the chapter's 75th year; it's also the 76th year of RIMS. It's also 250 years since the signing of the Declaration of Independence in Philadelphia. [28:43] To learn more about the RIMS Delaware Valley Chapter and apply for membership, visit DelawareValley.RIMS.org or find them on LinkedIn, or email any of the Board members. [28:53] Tom, it has been a pleasure to see you again and to get to know you through this episode. I look forward to seeing you at RISKWORLD 2026 from May 3rd through the 6th in Philadelphia. Congratulations again on your 75th! [29:11] Special thanks again to Tom Armstrong for joining us here on RIMScast. We wish him and all the members of the RIMS Delaware Valley Chapter, past and present, a Happy 75th Anniversary! [29:23] A link to the chapter's page is in this episode's show notes. We look forward to seeing many of those Delaware Valley Chapter members at RISKWORLD, which will be held from May 3rd through the 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [29:41] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [30:09] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [30:28] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [30:45] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [31:01] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [31:16] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [31:28] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Delaware Valley Chapter RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy FERMA Global Risk Manager Survey 2026 Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Risk Appetite Management" | March 25‒26 "Claims Management" | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times" | April 16 | Presented by Zurich and World Travel Protection RIMS.org/Webinars   Related RIMScast Episodes: "The Value of Risk Management: Inside the RIMS 2025 Compensation Survey" "RIMS 2025 Goodell Award Winner Randy Nornes" "Investing In Yourself with RIMS 2026 President Manny Padilla"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Tom Armstrong, ARM, CRM, CRIS, CIC, Director, Global Risk Management at Comcast President of the RIMS Delaware Valley Chapter   Production and engineering provided by Podfly.

Astronomers have unveiled a novel technique for detecting faint signals from stellar and exoplanetary systems — potentially opening new pathways in the search for extraterrestrial technology and natural astrophysical phenomena alike. In this episode of SETI Live, host Moiya McTier sits down with radio astronomer Cyril Tasse to explore the method described in Nature Astronomy. How does it work? Why is it different from traditional radio searches? And what kinds of signals could it reveal that we've been missing? Radio waves from distant stars and planets are incredibly faint and often buried in noise. This new approach rethinks how we process and interpret complex data, potentially improving sensitivity to subtle, structured signals. RIMS press release: https://observatoiredeparis.psl.eu/the-detection-of-radio-bursts.html RIMS paper: https://www.nature.com/articles/s41550-025-02757-7 Stellar storm press release: https://observatoiredeparis.psl.eu/evidence-of-a-massive-stellar.html CME video: https://youtu.be/bHlOYFn0RUM (Recorded live 5 March 2026.)

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Ralph Exton, Executive Director of the Water Environment Federation, about World Water Day, March 22nd, and the importance of water governance. WEF is a UN Water Partner, focusing on water access and gender equality. Justin and Ralph discuss the Value of Water Campaign and the Circular Water Economy. Ralph mentions other water organizations that the WEF promotes and supports. They discuss how water governance is a board-level issue, along with cybersecurity and financial risk. They explore ways organizations can participate in World Water Day. Listen for ideas on elevating water governance in your organization.   Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. We will be joined by Water Environment Federation Executive Director Ralph Exton. He's here to talk about the circular water economy ahead of March 22nd, which is World Water Day. This is probably my favorite topic! But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. The "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" Webinar, spotlighting women leaders in risk and construction, was rescheduled to March 20th. [1:42] The registration link is in this episode's show notes. You will have to register again if you have previously done so. [1:48] On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:05] On with the Show! Our topic is water risk management, and we are joined by the Executive Director of the Water Environment Federation, Mr. Ralph Exton. He has decades of professional experience with water risk. [2:19] He is here to discuss what the Water Environment Federation refers to as the Circular Water Economy, WEF's Value of Water Campaign, responsible water risk management, and World Water Day 2026, which emphasizes water access and gender equality. Let's get to it! [2:40] Interview! Ralph Exton, welcome to RIMScast! [2:48] Ralph Exton, Executive Director of the Water Environment Federation, joins us for this World Water Day episode of RIMScast. [3:29] Ralph Exton's career started with water. As a newly graduated mechanical engineer, his first assignment was to manage and supervise the water operations at an industrial facility. He says he had no idea what he was doing. He had wanted to work on robots. [4:57] Ralph says it did not take long. Once you understand how important water is to an industrial operation, you realize how important water quality is to the environment. Everyone knows how important water is from a personal standpoint. [5:28] When you understand those bigger factors, it becomes inherent in the way you think about your job and career. Ralph tells people, once you get your hands wet in water, they'll never be dry. [5:55] Ralph's entire career has been water. The early part of the career was operational and industrial. Then he worked for water technology companies, and eventually for the largest water technology and servicing companies in the world. He lists some of the global companies. [6:37] Ralph says that a couple of years ago, he was at a point in his career where he wanted to give back more and be more directly focused on the impact he could have on water and the environment. [6:52] Ralph had spent a lot of time with the Water Environment Federation as a customer, a volunteer, and a board member. All those things throughout his career helped him considerably. It's such an important organization for making connections in the water sector and for learning. [7:24] Ralph says that when the opportunity came up to be part of the organization that has been so important to his career for all those years, he jumped at it and was fortunate to be selected for this position. Ralph joined WEF in mid-2024. [7:47] Ralph says he is thrilled with the opportunity for direct contributions to water and the environment. It has been fantastic. The organization has always done super important things. He gets to be a part of making those things a reality now, and it's great. [8:17] World Water Day, March 22nd, is a big day for Ralph and for the WEF. This year, it emphasizes water access and gender equality. WEF is a strong supporter of water access, criminal justice, and gender equality. WEF is very proud to be a UN Water Partner. [9:06] Access to clean water and sanitation is directly correlated with a higher level of education, gender equality, and economic stability. If you have one, you're going to get the other. [9:24] In particular, ready access to clean water and toilets is crucial for women, especially at school age. If women aren't carting water all day long, they have more hours to spend with access to schooling and to join the workforce. [9:51] Ralph says there's also a very high correlation between women in the workforce and economic well-being, not only of the family, but also economic well-being within the regional and national economies. The theme for this year's Water Day ties it all together. [10:42] This is core to some of the work WEF does. WEF has a program called Charities of Choice. [10:54] WEF supports and promotes several not-for-profit organizations that focus on philanthropic and charity work, domestically and in developing countries, that provide services that ensure that the water environment is enhanced or preserved and public health is protected. [11:20] Ralph shares a couple of examples. Global Water Stewardship works to resolve sanitation issues in the developing world by educating people and engineering sustainable centralized solutions that keep waterways clean and communities healthy. [11:38] Water for People is an international nonprofit based in Denver, Colorado. Their goal is to bring water, sanitation, and hygiene services to everyone and to make the solutions last. [11:55] Engineers Without Borders builds a better world through engineering, through projects that empower communities to meet their basic human needs and equip leaders to solve some of the world's most pressing water challenges. [12:14] Operators Without Borders looks to provide certified volunteer water and wastewater operators who can support utilities in developing countries, following emergency or disaster situations, to ensure that safe drinking water and wastewater services are resumed quickly. [12:48] Ralph says WEF largely provides a platform and access to tens of thousands of people around the world who are part of WEF membership. WEF also has grants for water-related emergencies. [13:42] Ralph says volunteer work is probably the biggest thing people can do to help. Making donations to any of these organizations is super important. Feet on the street is a big cost component of this work. [14:10] The other cost component is training. If you send people to a location to solve a problem, and then they leave and don't provide training to the community, the solution won't last. Volunteers participating in some of these projects are a big help in making projects sustainable. [15:06] Ralph says you can provide someone a meal, or you can teach them how to grow that meal. There are short-term and long-term aspects. Long-term, you have to make sure they have the infrastructure, training, knowledge, and resources to provide for themselves. [15:51] The Value of Water campaign highlights the state-by-state economic benefits of investing in water infrastructure. The campaign is a coalition of the U.S. Water Alliance, the WEF, and other organizations. The WEF is on the Value of Water campaign steering committee. [16:27] We're at a pivotal moment regarding water infrastructure. A recent study was on the U.S. water infrastructure, but the issue is global. [16:46] The U.S. water infrastructure gets scored every couple of years on an A through F system. We don't score very well. The recent research has a powerful message. The funding gap is $1.8 trillion in water infrastructure between now and 2044. [17:30] Ralph says that's an opportunity. The latest report from the Value of Water campaign shows what's possible if we invest in water. Every $1 million directed towards water infrastructure generates $2.5 million in economic growth. There is a return on this investment. [18:13] That kind of return builds stronger communities. It creates meaningful jobs and helps drive innovation. [18:26] The report identifies that implementing circular water principles is going to be key. These strategies help transform linear systems into regenerative systems, where water is reduced and recovered, and constituents can be pulled from the water and recovered. [19:00] WEF is committing to advancing this approach as they help to shape a resilient and inclusive future. [19:14] The 2025 Value of Water Campaign Report is publicly available. The link is in this episode's show notes. [19:36] A Quick Break! RIMS is once again supporting the FERMA Global Risk Manager Survey 2026. [19:47] Now in its second consecutive global edition, the survey, led by FERMA, brings together insights from Europe, the U.S., Latin America, Asia Pacific, and Africa, offering an international perspective on how the risk management profession is evolving. [20:03] Surveys are anonymous, and the final report is free. The deadline to participate is March 31st. A link is in this episode's show notes. [20:12] RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [20:29] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges are now available. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [20:48] The Second Annual RIMS Texas Regional Conference will be held in San Antonio from August 10th through August 12th. [20:55] The call for submissions for educational sessions is open through March 18th. Check out the link in this episode's show notes and make a pitch! Hopefully, you get selected, and we see you in San Antonio! [21:07] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [21:26] Let's Return to Our Interview with Water Environment Federation Executive Director Ralph Exton! [21:44] Justin says Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of the Netherlands, has twice been a RIMScast guest to cover World Water Day. Ralph and Henk work in the same circles and have crossed paths. [22:19] In Justin's first interview with Henk Ovink, Mr. Ovink pointed out how Heineken was one of the first companies to use its industrial sludge as an energy source to keep its plants going. Ralph says plenty of companies now are pillars of the Circular Water Economy. [23:08] Ralph says, if you recover energy, nutrients, and valuable metals from waste, as opposed to burying it in a landfill, you unlock a lot of economic opportunities that way. [23:40] The waste that's generated at many waste treatment plants can be converted into enough fuel to power all the pumps and equipment that's needed to treat the water itself. You create a microeconomic opportunity right there that doesn't rely on electricity from the grid. [24:06] Ralph says it has become a growing scenario. WEF is trying to do its part to promote as many of those opportunities as it can. They give out several awards every year for Utilities of the Future that are doing this type of thing. WEF highlights these companies at annual events. [24:44] The more organizations, whether utilities or industries, that do this, not only does it help the environment, but it also creates economic opportunities. [24:56] There will always be byproducts and sidestreams that come off of these processes, by which you can generate economies around them, whether you're extracting a nutrient from waste or pulling energy from that waste.  [25:18] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [25:42] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [25:57] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [26:09] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [26:18] Let's Conclude Our Interview with Water Environment Federation Executive Director Ralph Exton. [26:56] Ralph says the notion of circularity started with the Ellen MacArthur Foundation. They're about building economies around implementing circular processes. The WEF is focused on circularity in terms of water. They refer to it as the Circular Water Economy. [27:42] The WEF leads the way for the public and private sectors to optimize and recover valuable resources from water and wastewater in ways that help fight climate change, support equitable economic development, and ensure water access. This is the Circular Water Economy. [28:26] The circular water economy practices help keep products and materials in use. They regenerate natural systems and design out waste and pollution from the equation. The model helps to build a just and sustainable society. The WEF is working to lead that. [28:42] There are three core principles of the Circular Water Economy. [28:45] These are: 1. Reduce. Minimize water usage and waste through efficient practices. 2. Recover. Extract valuable resources from wastewater. 3. Regenerate. Restore natural ecosystems. Recharge aquifers through sustainable water management practices. [29:13] The benefits of following those core principles include reducing water pollution, preserving ecosystems, lowering water treatment and extraction costs, supporting green jobs, and enhancing water security with equitable access to water resources. [30:18] The WEF did a report last year on the economic opportunities that can be unlocked by implementing Circular Water principles. A link is in this episode's show notes. [30:39] The WEF started the Circular Water Economy with the principles of circularity and circular economies, with a focused effort on water. The WEF felt that between water and waste, they could churn out a lot of economic opportunity with a focus on the sector they support. [31:14] The WEF believes that the Circular Water Economy will make the biggest impact in the next five years. It's one of their three core strategic pillars. [31:32] March 22nd is World Water Day. This episode is coming out six days ahead. People have time to participate in local World Water Day activities, volunteer, or donate. [32:03] Ralph says the most important reminder he can give the RIMScast audience is that water is more than an enterprise or utility risk; it's a human risk. When water systems fail, other things fail. Operations fail, supply chains fail, and workforce stability is disrupted. Public trust is ruined. [32:50] Ralph says women, families, and communities absorb that impact first, which has direct economic consequences. [33:00] The most resilient organizations elevate water subjects to the boardroom, treating it with the same rigor as they would cybersecurity. Water needs to be at the same level as cybersecurity and financial risks. [33:20] Water governance is no longer optional; it's foundational to resilience and equality. The theme of World Water Day this year speaks to that. [33:41] Justin says there are so many ways for RIMS and WEF to collaborate. Justin looks forward to getting Ralph on a webinar about water management. Justin thanks Ralph for informing our audience about World Water Day and why water risk management is central. [34:16] Special thanks again to Ralph Exton, Executive Director of the Water Environment Federation, for joining us here today on RIMScast. I've got links to WEF.org and the Circular Water Economy in this episode's show notes. [34:31] Be sure to check out the links in this episode's show notes for prior RIMScast coverage of water risk and World Water Day. Remember that World Water Day is observed globally on Sunday, March 22nd, 2026. Everyone deserves access to clean water. [34:50] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [35:19] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [35:37] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [35:54] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [36:11] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [36:25] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [36:38] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS Texas Regional Conference 2026 Education Content Submission — Deadline March 18, 2026! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy FERMA Global Risk Manager Survey 2026 WEF.org 2025 Circular Water Economy White Paper Report 2025 Value of Water Campaign Report 2025 Industrial Water Solutions Columbus, OH 2026 Industrial Water Solutions Chicago, IL 2026 WEF Summit-Financing the Future of the U.S. Water Sector Podcast Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Risk Appetite Management" | March 25‒26 "Claims Management" | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 20 | Presented by RIMS "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times" | April 16 | Presented by Zurich and World Travel Protection RIMS.org/Webinars   Related RIMScast Episodes: "Water and Women in Risk with Sarah Mikolich" "Environmental Bias with Eloise Copland" "World Water Day, IoT, and Water Damage Reduction with John Dempsey" "World Water Day 2022 with Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of the Netherlands" "Earth Observations, Acronyms, and Risk with Dr. Shanna McClain of NASA" (2021) "Combating Water Scarcity with AquaShares Founder James Workman" (2020)   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Ralph Exton, Executive Director, Water Environment Federation   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Kristen Peed, RIMS Ex Officio, and RIMS Board Member, John Kline, about the results of the 2025 RIMS Risk Professional Compensation Survey, covering Risk Professionals in North America. They discuss the growth trend in base salaries for risk professionals in the U.S. and Canada and what this growth represents. They also dig into the median salary of Chief Risk Officers in both nations and how that reflects on the perceived value of the risk profession today. They discuss the worth of experience and certifications for a risk career. They cover the variety of assignments attached to the roles of risk professionals, and the value of expanding the responsibilities of your role over your career. They discuss the rising generation of risk professionals and the need to ensure the transfer of knowledge as the more experienced risk managers retire. Listen for thoughts on incentives for contributing to the long-term stability and growth of your organization.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will review the results of the RIMS 2025 Compensation Survey with Kristen Peed and John Kline. But first… [:40] RIMS Virtual Workshops. On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [:51] The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:00] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:12] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:19] Webinars. On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". [1:34] We had to reschedule the  "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" Webinar that was scheduled for March 6th. Registrants should have received an email about the rescheduling. We will soon confirm the new date. [1:51] Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:01] On with the Show! We are delighted to be joined by RIMS Ex Officio, Kristen Peed, and RIMS Board Chair, John Kline, to discuss the findings of the RIMS 2025 Compensation Survey. [2:15] This biannual survey provides detailed compensation analysis for virtually all risk management positions, as well as the impact that education, experience, and other demographic data have on salaries. [2:27] The report also provides data about risk management reporting structures, team size, benefits, and additional cash compensation programs. It's a North American study. There are some positive trends that we're going to explore with Kristen and John, so let's get to it! [2:42] Interview! Kristen Peed, John Kline, welcome to RIMScast! [3:01] As Ex Officio, Kristen hasn't seen the inside of airports as often. Last year, Kristen was on 98 flights. [3:54] John has been on the RIMS Board for five years. He says the Board is a great team of people. It's a privilege to serve. [4:31] As Kristen and John both have a vested interest in RIMS and the future success of the profession, Justin wanted them together on the show to review some of the high-level points of the Compensation Survey. The survey is available through a link in this episode's show notes. [4:51] Justin states that the median salary for U.S.-based risk professionals is now $160,000; it's  $140,000 in Canada. Both figures are up over the last decade and since the last survey, in 2023. [5:20] Kristen sees the sustained salary growth as a clear signal that risk management has moved from a support function to a strategic function. Organizations aren't just paying us for insurance placement or procurement but for our insight, foresight, and decision support. [5:42] Kristen says that over the last decade, risk professionals have been pulled into conversations around cyberresilience, operational continuity, regulatory exposure, capital strategy, and reputation. Those are board-level issues. [6:00] When compensation grows steadily and not in spikes, it reflects the recognition that good risk management is necessary to protect enterprise value and enable smarter growth. [6:16] Kristen is seeing that the market is saying risk leaders are not cost managers anymore; they are people protecting the value of their organization and creating that value, as well.  [6:29] John agrees with Kristen. He adds that he thinks, as an industry, we have gotten to be more professional. RIMS has worked on this for years: How do we get the people in this profession to be treated as professionals, like an attorney or an accountant, not procurement? [6:58] John thinks the practitioners have upped their game, becoming much more technically competent, participating in professional development, and becoming more involved at an executive level at corporations. [7:27] John also sees practitioners becoming more involved in the industry. Taking roles on advisory groups at insurance companies and brokers. They're getting to be active participants. Management recognizes that these individuals do a good job of representing the company. [7:48] John thinks it's a combination of better technical skills and greater recognition, which allows them to have that seat at the table. It's a host of things. [8:03] Justin recently had Cynthia Garcia as a guest on RIMScast. Cynthia is the Chief Risk Officer for Bernards Construction Company in California. Justin is seeing more folks like her, who have the CRO role, as RIMScast guests. [8:24] With more Chief Risk Officers and VPs of Risk Management in the U.S. now reporting a median salary of $245,000, which is up dramatically from 2023, it seems like the market is catching up with the importance of risk professionals, especially senior-level risk professionals. [8:52] Kristen thinks part of it is market catch-up. When she moved into her role at Sequoia, she upped her game. Leadership came to her and tapped her for things she never thought she would get to experience. Those things increased her responsibilities and shifted her into the CRO role. [9:28] Kristen says the CRO role has matured. The risk leaders are expected to really look at enterprise risk, insurance strategy, capital efficiency, governance, and how they can help their business be more resilient. [9:46] Kristen reports directly to the CEO and works directly with the CFO and CISO. She's not just managing programs; she's being integrated into the decision-making process. [10:04] That level of influence requires judgment, credibility, and the ability to lead cross-functionally. That's what the compensation reflects. Kristen doesn't see it reverting. She sees it stabilizing at higher levels as those expectations remain elevated. [10:27] There are 21 people on the two teams that report to Kristen. [10:42] John says, having been in the industry for several years, people who sit in our chairs probably understand the company as well as anybody else. [10:56] John says part of our job is to look at all the nooks and crannies and understand everything, whether it's property exposure, premises, product, reputation, or Directors and Officers liability. We get engaged in Errors & Omissions. We get engaged in cyber. [11:18] We have become part of the team that understands holistically. John's job is a holding company. He works holistically. He thinks the compensation and the responsibility continue to catch up with each other. [11:50] One area John sees that needs work is corporate risk. We probably need to carve out operational, enterprise, and insurable. If you work at a bank, you have credit risk and capital risk; there are a lot of other risks where we don't have the skillsets. [12:15] John says that in different industries, the CRO or Risk Manager will encompass different things. We probably need to focus on the operational, enterprise, and insurable risk, and carve out the credit risk, the capital risk, and the liquidity risk. [12:48] John is a team of one. Anybody in his position has to have good communication skills and a lot of support. John can't do what he does by himself. He networks within the organization. He has contacts throughout the organization. He has outside business partners. [13:37] John wants to walk together, shoulder-to-shoulder with his business partners. He sees them as more than collaborators. If you want to go far, you go together. [14:22] Kristen says that leadership without direct authority is a critical skill. When you're a team of one, you learn how to direct people when you don't have actual authority over them. Collaborating with them and communicating well are critical to that skillset. [14:45] Kristen says a CRO is just a title. Titles vary across corporations. What someone with the CRO title does is not more important than what a Director of Risk Management does at another company. Functions are different across different companies. [15:17] A Quick Break! RIMS is once again supporting the FERMA Global Risk Manager Survey 2026. [15:30] Now in its second consecutive global edition, the survey, led by FERMA, brings together insights from Europe, the U.S., Latin America, Asia Pacific, and Africa, offering an international perspective on how the risk management perspective is evolving. [15:46] Surveys are anonymous, and the final report is free. The deadline to participate is March 31st. A link is in this episode's show notes. [15:56] RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals across the globe. It's time to Connect, Cultivate, and Collaborate with them. [16:12] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges will be available starting on March 3rd. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [16:31] The Second Annual RIMS Texas Regional Conference will be held in San Antonio from August 10th through August 12th. [16:38] The call for submissions for educational sessions is open through March 18th. Check out the link in this episode's show notes and make a pitch! Hopefully, you get selected, and we see you in San Antonio! [16:51] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. Registration is open, and you can also submit a session. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [17:09] Let's Return to Our Interview with John Kline and Kristen Peed! [17:31] We're talking about the RIMS 2025 Compensation Survey. There is so much great information in it. It is available through RIMS.org and the link in this episode's show notes. [17:45] Nearly all compensation survey respondents, 97% in the U.S. and 90% in Canada, perform functions beyond risk management, including insurance, claims, business continuity, compliance, and even ESG. [17:58] Justin asks if compensation is keeping pace with the expanding scope and complexity of the role. [18:06] John says he feels he is fairly compensated. He enjoys getting involved in multiple areas. Procuring insurance is a large part of his role, but he brings a lot of other value to the organization. [18:43] John says he enjoys assisting in other areas of risk. It helps his professional development. It brings variety to his job. He works very closely with business continuity to help them quantify and understand it. He needs to know that for his insurance renewals. [19:08] Years ago, John was responsible for the ergonomics program of Bank of America, one of the largest employers in California. He had a wonderful team and really enjoyed the job. It led to his accomplishment of driving down workers' compensation claims. [19:58] John says you ought to change your job every two years. If you're doing your job two years from now, the same job, exactly the way you're doing it today, you're not growing. You're not developing your job. [20:20] John says he was in the same job, at one point, for almost 17 years. Every year, what he did was entirely different. He had the same title for 17 years. Every two years, he remade what he did. [20:40] John says growing your job shows your recognition of the increase in compensation and increased responsibility.  [20:50] Kristen has a unique position at Sequoia. She's not sure that what she does exists at any other company. She has the opportunity to work in underwriting and risk management for her company and brokerage. She was brought on as the internal risk manager. [21:10] Kristen also has the opportunity to oversee a team of underwriters and claims professionals who work on workers' compensation and employment practices liability that go into the PEO captive. Learning about all that was fun. [21:28] About a year ago, Kristen had the opportunity to take over the leadership of the property and casualty brokerage team. She gets to see all three facets of this industry, sitting in one role. [21:49] Because of these experiences Kristen has had, now she sits in on strategic decisions about opening new companies. Sequoia is getting ready to open up another company. [22:02] Kristen is part of the leadership team, looking at how to scale this. It's more than insurance decisions. It's about how to do this business, how to scale it, compliance, and governance. [22:22] Kristen says to look for opportunities to raise your hand. Expanding your skillset will help support your position with your leadership when you're going through the merit cycle. [22:46] Justin says the top industry impacts in the survey include attracting new candidates, cyber exposure, adoption of new technologies, AI, and hybrid workshifts. The median age of U.S. risk professionals is 51. Justin asks Kristen and John if we are facing a succession challenge. [23:11] Kristen says a big yes on that. John says succession planning and talent retention within this industry are the number one challenge. It is estimated that over the next five years, 350,000 people will retire. Over 50% of the industry is over 55. This is huge. [23:52] With those retirements, the industry will lose a tremendous amount of intellectual capital and experience. At the same time, this large group of professionals retiring in the next five or 10 years provides types of opportunities that never existed before for people in their 30s and 40s. [24:26] John says talent is the number one challenge for the industry. People coming into it are going to learn the skillsets. There's a lot this industry has to offer. There's a wide range of roles and a huge opportunity for growth. It touches so many different areas of the organization. [25:02] John says people are going to need a risk professional. The uncertainty in this world is increasing. The speed of change is getting faster. They will need someone like us. Make sure your organization knows you're the person they want, and so they don't look for someone else. [25:42] Kristen says she doesn't think risk has a talent shortage. She says Spencer Educational Foundation is doing a great job of recruiting into our industry. What we need to keep our eye on is the knowledge transfer and making sure that we're training the next generation. [26:05] Kristen believes the solution isn't just recruiting, it's the development. Make sure you're bringing that next generation to the RISKWORLD Conference so they understand how business is done, and they're developing those relationships. [26:18] Kristen says we shouldn't be focused on people late in their careers, like John and I. Risk isn't a back-office role anymore. It's out there on the front lines. Treat the next generation that will step into our shoes as the front lines. [26:50] Budget to bring the next generation to conferences. Include them in meetings and opportunities to be strategic. Teach them. If we don't transfer that knowledge, we risk losing that judgment. It's not a headcount issue but a knowledge transfer issue. [27:12] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [27:38] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [27:52] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [28:05] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [28:13] Let's Conclude Our Interview with John Kline and Kristen Peed. [28:23] Justin cites the survey, saying 79% of U.S. professionals were eligible for additional cash compensation, with performance, especially organizational performance, driving the most payouts. Justin asks if this is an appropriate incentive program. [28:45] Kristen says linking compensation to organizational performance makes sense. But risk doesn't exist in a vacuum. We have to make sure we're not rewarding only short-term results. [28:57] Kristen is eligible for incentives for both short-term organizational performance of a year and long-term incentives for multi-year organizational performance. That gives her time to put into play strategically things that will impact the organization in the long term. [29:20] Kristen doesn't know that a lot of organizations have evolved to where they're doing both short-term and long-term incentives and bonuses. [29:28] Kristen says that is a way we could incentivise risk professionals to make an organizational impact that permeates throughout the enterprise. It rewards something that's more overarching than one year's performance. [29:58] John agrees with Kristen. This is part of the evolution of the profession. John has base compensation, short-term incentives, and long-term incentives that he's had for years. It helps you get alignment with management for the long-term success of the organization. [30:19] John says most of us could save money in any given year, but we've got to look at stability for our programs. Management does not like wide fluctuations. [30:42] It forces us to think strategically, like an owner or the C-suite. It helps develop stability, not only on the corporate side, but also on the broking side and the carrier side. [31:02] For years, carriers in the reinsurance industry have had five- and ten-year incentives. It takes that long to see if a reinsurance contract is profitable. This is the evolution of the industry to align us better with the long-term objectives of the C-suites. [31:51] John says, if I have wild fluctuations year to year, and I haven't kept the C-suite apprised of it for three years, management's not going to like that. I'm not doing my job. [32:26] Justin points out that on paper, John is a department of one, but he works with several others. Kristen says in her last job, she was a department of one. What strategies can John and Kristen provide for risk professionals with very limited resources to use to transfer knowledge? [32:47] Kristen thinks recognizing what your resources are is the place to start. You may have more resources at your fingertips than you realize. Your brokers can help you with the tools they may have. Your carrier partners may have other tools. [33:11] Kristen stresses RIMS and RIMS.org for all the tools and information at your fingertips there, as well as the RIMS Engage social media platform, where you can reach out to other risk professionals to get their advice. [33:28] Kristen thinks our industry is one of the greatest when it comes to collaboration and knowledge-sharing. She can call on her network for advice. You may be a department of one, but you are not alone. You have an entire community behind you to support you. [33:58] Justin explains that RIMS Engage is exclusively for RIMS members, one of the many benefits of RIMS membership. [34:11] John endorses everything Kristen said. He adds that you need to understand who your key stakeholders are. Those are the people who will support you. You have to set realistic expectations. As a team of one, sometimes things fall through the cracks. [34:51] You have to have a plan. You make a plan, you work the plan. You can't just come in every day and ask yourself what you are going to do that day.d You need a plan for the day, even though something during the day will upset the plan. [35:09] John says, "Communicate, communicate, communicate." John doesn't want to be a black box. If someone says they don't understand what he does, he sits down with them and tells them. [35:50] Justin adds a quick plug for the RIMS-CRMP. It's a great way to enhance your knowledge. If you are a department of one, if you pass that RIMS-CRMP exam, you will have the capacity of several risk professionals. [36:08] Kristen agrees. Credentials don't replace your experience, but they help you compound it fast. The RIMS-CRMP credential is incredibly valuable. It can help accelerate your knowledge. Risk management is a profession where judgment compounds over time. [36:36] You earn that credibility by seeing market cycles, going through claims scenarios, and by having failures and then recovering from them. [36:49] John says important credentials like the RIMS-CRMP show right away that you're dedicated to the industry. These are not easy certifications. They provide instant credibility. [37:16] When you can put RIMS-CRMP on your signature line, you differentiate yourself. You show others you are furthering your education. [37:38] Justin says we're going to see you both at RISKWORLD 2026 in Philadelphia! John Kline and Kristen Peed are omnipresent at RISKWORLD. [37:52] RIMScast recently had 2025 Goodell Award Winner Randy Nornes on the show. He said he can't stand the word risk, even though he's made his career on it. He prefers the word uncertainty because risk has a negative connotation. [38:29] Kristen says Sequoia's Chief Legal Officer has a saying, "Nothing bad happens." We have been prepared for everything. We have a playbook. We have practiced it. We don't talk about risk but about closing the gap and mitigating against those things. [39:03] John says, this is an opportunity. He understands Randy's position. People understand what a risk is. What is uncertainty? John likes the term risk business rather than the term uncertainty business. [40:14] John, Kristen, it has been wonderful to reconnect with you! I can't wait to see you again in two months! See you at RISKWORLD! [40:27] The RIMS 2025 Compensation Survey is available now. The links are in this episode's show notes. There are different tiers to access it. [40:52] Special thanks again to Kristen Peed and John Kline for joining us to discuss the results of the 2025 RIMS Risk Management Compensation Survey! Members have the benefit of receiving the survey results for free. The cost is $500 for nonmembers. A link is in the notes. [41:14] I've also got links to John Kline and Kristen Peed's prior RIMScast appearances and Kristen's RIMS-CRMP Story. Look for both of them at RISKWORLD 2026  in Philadelphiafrom May 3rd through the 6th. [41:27] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [41:55] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [42:14] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [42:31] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [42:48] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [43:02] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [43:14] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Legislative Summit — March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS Texas Regional Conference 2026 Education Content Submission — Deadline March 18, 2026! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April - June 2026 Cohort | Led by James Lam RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today and Submit an Educational Session! RIMS Compensation Survey 2025 — Download Today | Press Announcement Here. RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy FERMA Global Risk Manager Survey 2026 Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepApril 21‒22, 2026 | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | March 17‒18 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops Risk Appetite Management | March 25‒26 Claims Management | April 7‒8 Emerging Risks | April 15 | Register Now! Upcoming RIMS Webinars: "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes" | March 12 | Sponsored by Global Risk Consultants "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | Presented by RIMS — Rescheduled — Date TBA in March RIMS.org/Webinars   Related RIMScast Episodes: "Investing In Yourself with RIMS 2026 President Manny Padilla" "RIMS 2025 Goodell Award Winner Randy Nornes" "A Brand New Day with RIMS 2025 President Kristen Peed" "AI and the Future of Risk with Dan Chuparkoff"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Kristen Peed, Chief Risk Officer at Sequoia and RIMS ex officio John Kline, Senior Director, Enterprise Insurance Risk Management at TransUnion and RIMS Board Chair   Production and engineering provided by Podfly.  

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Randy Nornes, the 2025 Harry and Dorothy Goodell Award Winner, about his career. They talk about uncertainty and a long-term approach to risk. Randy won the 2025 Goodell Award for his lifetime achievements. He is a problem solver. Randy advises risk professionals not to focus on what they did yesterday, but on what is happening today, and to stay current with risks such as AI and cyber risk. Randy talks about how staying with Aon for years has given him the latitude to look across the company and focus on the next risk. Listen for tips on laying the groundwork before the risks.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is 2025 Goodell Award Winner Randy Nornes. We will learn all about his fascinating career and his risk philosophies. But first… [:42] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:53] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:01] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:18] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:26] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:40] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:51] For a quick preview, check out last week's episode with Cynthia Garcia. She is the Chief Risk Officer from Bernards, who will be joining us on that exciting panel. [2:00] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:20] On with the Show! Our guest today, Randy Nornes, is the 2025 Harry and Dorothy Goodel Award Winner. [2:29] Named after the first President of RIMS and his wife, the Harry and Dorothy Goodell Award honors an individual who has furthered the goals of risk management and the Society through outstanding service and lifetime achievement. [2:41] Randy Nornes exemplifies all that and more. He has been with Aon for 38-plus years. Currently, Randy is the Executive Vice President and Enterprise Client Partner for Technology, Media, and the Communications Industry. He has done some volunteer work, which we will talk about. [3:00] Randy has a fascinating career. We're going to learn about it as well as his leadership style, his risk philosophy, and how he is keeping Aon at the forefront of AI innovation. [3:09] [If you've been to RISKWORLD, you've seen Randy in the halls and the educational sessions. He has been an ever-present force there. And he is a highly-regarded member of the Chicago RIMS Chapter. Let's get to it! [3:23] Interview! 2025 Goodel Award Winner, Randy Nornes, welcome to RIMScast! [3:44] Randy is proud of that award. He wonders, after receiving a lifetime achievement award, what's next? Retirement? Should he write a book? [4:11] On the day of the award, Randy was backstage with Martha Stewart and had a chance to visit with her and discuss risk management. [4:21] Randy's wife and one of his sons were in the audience. When Martha Stewart came out and spoke, she referred to their conversation. Randy gained credibility at home that Martha Stewart listened to what he had to say! [4:52] Justin says that RISKWORLD 2025 was fantastic! Randy says he has probably attended three dozen RISKWORLD conferences. He says they get better and are different every time. You can see, decade by decade, what's important. [5:31] There is a wonderful profile on Randy Nornes, written by Russ Banham, in the special Awards edition of RIMS Risk Management Magazine. It is still available online. That's how Justin got to know Randy Nornes before this interview. [5:57] Randy always tries to link up with what the next big thing is. Since late 2025, Randy has been leading Aon's AI infrastructure efforts, from the financing of data centers, to the construction, to the development, to the operation, and to the energy attached to that.  [6:28] AI is the next big thing. Randy says that 40% of GDP is coming through the lens of building AI infrastructure. Aon has a big team for it, and that's what Randy does every day. He says it's massive, exciting, and relentless. [7:03] Randy says, Because it's coming so fast and furious, it's not something you have time to sit back and think about. He says we're seeing this thing evolve week by week. It's global. Risk management is at the center of making it all work. [7:27] Randy says there's a different lens depending on where you sit in the AI infrastructure world. Everyone is thinking about the risks of the construction, the operation, the access to power, and the climate. It's all melded into one thing. [7:48] Randy calls the Chicago RIMS Chapter big and vibrant. Chicago is unique in having representation from so many different industries. It's not highly concentrated. People have a lot of lenses to look at risks through. It makes for good conversations. [8:11] Justin notes that last year's Risk Manager of the Year, Jennifer Pack, was from Chicago. The Rising Star, Megan Smalter, was originally from Chicago. Randy has spent time on the West and East Coasts, and he finds the Chicago Chapter unique, with 25 different industries. [8:49] Justin gives a shout-out to Julie Bean, the 2024 Heart of RIMS Award Winner. Justin says Randy is in great company. The talent coming out of Chicago brings something special to RIMS. [9:27] Randy was going to be a banker. A banker manages risk around lending and projects. It's not a huge leap to get to the world of risk management from there. [9:44] In the 1980s, it was a turbulent time for banking. We had just come out of a tough inflationary period, with real estate bankruptcies and banks and savings and loans going under. His advisor told him not to go into banking. [10:18] Randy interviewed someone from Chubb. Chubb was scaling up a new product, Directors' and Officers' insurance. Randy was good at case studies in business school. Underwriting D&O insurance is a case study. Randy thought he could do that job. [10:54] Randy started at Chubb and ended where he is today. In 1987, Randy moved to Frank B. Hall, acquired by Aon in 1992. He was young and a good worker, so he was kept by the company. He says it was a trip working alongside Pat Ryan and learning the business at Chubb. [11:48] Pat Ryan took Randy and others under his wing. He is a great mentor. Randy credits him for access. Randy mentions other early supporters, Al Diamond and Skip Dunn. With Pat Ryan, Randy was always looking for the next big risk to come along or a new framework. [13:00] In the 1990s, governance, Sarbanes-Oxley, and enterprise risk frameworks came to the forefront, following bankruptcies of major companies that had appeared to be successful. [13:28] When enterprise risk became a thing, it needed frameworks. That led Randy to build one of the first enterprise-risk-focused teams to help companies think about it. This was before COSO. [13:55] Randy says a lot of the clients they dealt with in those early days were in industries where someone had already gone through some trauma, and they wanted to make sure they weren't next up. It was a lot of, "Hurry up and make sure we're OK!" [14:26] Randy says, in the 1990s, they were doing risk modeling. The reinsurance teams had risk models that ran on AS400 mainframe computers. They had to book computing time to run a scenario with a set of assumptions. They would run 10,000 simulations in a day. [14:55] If they wanted to change the assumptions, they had to book another time. [15:02] Now it's all on the laptop. The quality of data is significantly higher. They can do it in real time. Risk managers today may not recognize how lucky they are. [15:24] Randy says, We're always trying to decide what problem we're trying to solve for and what we know about that particular issue. The modeling is the entry point to know what to do or what matters. [16:10] Randy thinks risk is a terrible word. We risk professionals have a hard time communicating with people who aren't in our space when we use the word risk. Everyone has a different definition of risk. Randy says everyone can get on board with certainty and uncertainty. [16:34] Randy says, what we're doing with modeling is trying to understand what the distance between certainty and uncertainty looks like. Then, we have to decide what's comfortable and where our tolerance is. Then, decide what to do with the part that we want to get rid of. [16:48] That's at the core of risk management, and it hasn't changed in decades. The tools we have now have changed dramatically. [16:56] Justin cites Christy Kaufman from the profile article, who said that Randy is far more than a traditional broker; he is a thought partner and a problem-solver. Justin asks what allows Randy to move beyond transactional work into a strategic advisory mindset. [17:19] Randy says insurance is a complete waste of money, unless you can show how you're adding value. You can get there by showing this uncertainty spectrum and understanding it. [17:58] Randy says the mindset is, "I've parachuted in. What do we have going on?" If I did that today, I'd be looking at supply chain issues. It's amazing when you have that lens. Early on, he looked at a supply chain that was "perfect, end-to-end" on spreadsheets. [18:27] Everything was manually entered. Managers were judged on average inventory levels, and wanted to keep the levels as low as possible. To game the system, they ran inventory at the lowest level.  [18:57] They would raise the inventory at the end of the month to make it look like they were on target. It was not a real-time inventory. It looked like risk management was fine, but the chance of a stockout or a long-term impact was pretty great. [19:24] A Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals across the globe. It's time to Connect, Cultivate, and Collaborate with them. [19:43] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges will be available starting on March 3rd. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [20:02] Save the dates March 18th and 19th, 2026, for the RIMS Legislative Summit, which will be held in Washington, D.C.! Join us in Washington, D.C. for two days of Congressional meetings, networking, and advocating on behalf of the risk management community. [20:19] Visit RIMS.org/advocacy for more information and to register. Also, check out the prior episode of RIMScast, Episode 378, featuring RIMS General Counsel and Vice President of External Affairs, Mark Prysock, as we discuss the top priorities for RIMS in 2026 and beyond. [20:39] The Second Annual RIMS Texas Regional Conference will be held in San Antonio from August 10th through August 12th. [20:46] The call for submissions for educational sessions is open through March 18th. Check out the link in this episode's show notes and make a pitch! Hopefully, you get selected, and we'll see you in San Antonio! [20:59] Let's Return to Our Interview with 2025 Goodel Award Winner, Randy Nornes! [21:19] Justin asks how Randy delivers good or bad news to a high-level executive. Randy says he was gifted by his radio announcer father with a very calm demeanor. You're delivering what it is, based on some fact. Randy has had to deliver a lot of crazy facts over the years. [22:29] Early in his career, Randy had a financial institution client. They had some major issues. He was standing outside the boardroom, ready to go in to tell them whether they had insurance or not. They did not. He was on the phone with London, working out some coverage. [23:28] He got the message while he was in there that they had managed to land something for the client, so he could pivot. His colleagues said they couldn't believe how calm he had been, going in. [24:11] Randy says it's best to set the landscape with executives before extra risk is taken, showing alternatives and strategy, so if something happens, it was foreseen, you were just unlucky in that year. [24:53] If you hadn't done the front-end work and gotten everybody onboard to see why it was the right strategy, then the news of unanticipated issues gets a lot harder to deliver. [25:04] There's a lot of front-end work to do. To drop bad news on people without any prep is going to be a lot harder. Being transparent and on the same page, especially with finance people, makes communication easy. This flows up to the CFO and higher. Set the foundation. [25:51] Randy has 100s of people focused on data centers. They have analysts and use AI for some things. There are people from the financial institution vertical, construction, operations, cyber, AI, energy, and renewal. They gather together. It's multidisciplinary, under one umbrella. [27:05] Randy says his leadership style is collaborative. He tries to lift the whole team, orchestrating how it comes together. He lets them have the success they deserve. Randy is a strong proponent of mentorship. It's the secret to his success. [27:50] Randy has worked with some people for his entire career, as clients, colleagues, or competitors, and he stays connected with them. Hundreds of people fit that profile. [28:17] Another Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [28:43] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [28:57] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [29:10] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [29:18] Let's Conclude Our Interview with 2025 Goodel Award Winner, Randy Nornes. [29:39] Randy worked with Pat Ryan to lead the Risk Management and Financial Guarantee Team for Chicago's 2016 Summer Olympic bid. Randy says when Pat retired as CEO of Aon, he took on this project to head Chicago's Olympic bid. He invited Randy to the project. [30:19] In an Olympic Bid, the city has to sign a Host City Agreement that says they will take on the risks of delivering the Games. There's an effective financial guarantee. Globally, it is often done on a country level. That's not how it operates in the U.S. [30:43] Pat and Randy had to figure out how to de-risk the games so that what the city's guarantee would look like was limited because the team had built insurance and risk management. On the construction side, they had contractors take on risks. [31:03] They created a de-risking model. It was the first time anyone had done that for an Olympic Games. Chicago was not successful, but the work the team did on de-risking the Games became the model that a lot of Western cities took on for their Olympic bids. [32:03] Randy says you start with a line-item budget that the bid team puts out. A big part of it is the construction of venues, living spaces, technology, including massive broadcast bandwidth, tens of thousands of volunteers to transport and train, and secure. [32:35] Randy says they took the line-item budget and worked on each item separately, to create certainty and shrink the distance between certain and uncertain, so that when they put the umbrella guarantee on top of it, it touched a lot fewer things and had a lot more certainty. [33:01] The biggest thing the umbrella policy covered is delivering the Games on a certain date. No delays. All the costs are front-end. If, for some reason, the Games don't happen: terrorism, global war, or pandemic, you're stuck with all those front-end costs. It's the worst case. [33:39] The closer you get to the event, the more risk you have. Then you have the three or four weeks when you're delivering the Olympic Games and the Paralympic Games. [33:49] Randy says it was interesting. They did a white paper on it, "How to De-risk Games." It was done to encourage cities not to be afraid to host the Games. [34:19] Randy says, over the years, when cities in North America are bidding for Winter or Summer, they reach out, and Pat and Randy give them the template. San Francisco, LA, Boston, and Calgary all asked for it. [34:51] Most of the people on the Bid Committee were on the City level. It was Mayor Daley, his staff, and 50 aldermen. Randy says, We gave them lots of transparency into what we were doing. [35:16] Randy says they provided 1,200 pages of material, in 3-ring binders, for each of the aldermen. They also put all the text on discs to search electronically. Later, an alderman called Randy, angry because he couldn't listen to the disc in his car. Randy explained it to him. [3:24] Randy thinks a city should be thankful to host the Olympic Games. They make the city sparkle. The city gets a big influx of outside money. Chicago would have gotten a lot of Federal money. The transportation system would have been upgraded. It would make the city better. [36:49] Randy describes how London and Paris were improved by hosting the Olympic Games. If you're thinking of bidding, it's worth it. Randy wishes Chicago's bid had been successful. [37:33] Justin and Randy comment on the Milan Winter Olympics Opening and Closing Ceremonies. The next Winter Olympics will be on the French side of the Alps. [38:01] Justin says that Chicago is known for its colorful history of notorious characters. [38:45] Justin asks Randy about Project Six. Project Six came out of the Olympic Bid. Seeing corruption in the city government, Randy and a few committee members put together Project Six, referring to the six business leaders who partnered with Elliot Ness to go after Al Capone. [39:44] They set up Project Six as a nonprofit whistleblower organization so people could come to report corruption. They got hundreds of whistleblower tips. They published things and gave information on criminal activity to Federal prosecutors. [40:07] Some things were not criminal but unethical. When the Chicago Cubs were playing in the World Series, public officials paid face value for Cubs tickets instead of the market price. Project Six brought it to the ethics committee, and they changed that practice for tickets. [41:31] Randy says they did not make a lot of friends in public office. Project Six is closed. [41:47] Randy talks about angering a bunch of people in public office. They went after Project Six because they weren't getting whistleblower tips on Republicans. There might have been one Republican commissioner in Chicago. [42:20] Randy says some of the senior people they ruffled went after donors. So it was a better idea to shut it down. It ran for three and a half years. [42:41] Randy says the biggest frustration was how slow things move. It takes years for some convictions to go through. You would like justice to happen faster. Randy hopes that when high-profile people go to prison, others pause to consider. [43:59] Randy gives his advice on what separates a good risk manager or problem solver from a great one. He says not to get too focused on what you did yesterday. Every day, step back and ask, Am I still doing the right stuff? Am I focused on the right thing? [44:26] You have a fixed amount of money to spend to solve your risk problems. You're insuring your buildings for fire, but over time, you've engineered them to be fire-resistant. There is less risk. At the same time, you have AI, cyber risk, and new things that come in. [44:48] Is it better to direct money to solve cyber risk and take on more risk for property? Don't get hung up on what you did yesterday. Stepping back and staying on top of what's happening with the business has never been more important. [45:17] Businesses are transforming before our eyes, and AI is leading the transformation. Make sure you're interacting with your business to stay current on what the business is all about. [46:02] Randy says being at Aon a long time has given him a lot of latitude to do all the things he has done. He can look for new things, cut across the towers that exist and think about risk at the broadest level. [46:40] If you move company to company, you'll step into the new role, fix a few things, and move to the next company. You won't have the latitude to experiment with new things or ask what comes next. You're there because you're needed at that time. [47:07] Randy says, That can be comfortable. But don't get too comfortable and make sure you're staying current. [47:17] We really appreciate you joining us here on the show. I want to wish you congratulations again on the Goodel Award. It's a big honor here at RIMS, and you certainly deserve it. [47:27] I look forward to meeting you in Philadelphia, from May 3rd through the 6th at RISKWORLD! Thank you so much for joining us here on RIMScast, Randy! [47:40] Special thanks again to 2025 Goodel Award Winner, Randy Nornes, for joining us here on RIMSCast! A link to his profile in RIMS Risk Management Magazine's Awards Edition 2025 is in this episode's show notes. [47:57] He's one of our men in Chicago. Check out ChicagoRIMS.org. They have a live event coming up called "Nuclear Verdicts: Live Mock Trial for Evaluating Litigation Risk and Strategy"  at the Aon Center (Chicago), on March 11th. You might see Randy there! [48:14] We've got the Chicago RIMS Annual Golf Outing on September 21st, and the 11th Annual Chicagoland Risk Forum on September 24th at the Old Post Office in Chicago. They're one of our most active and vibrant chapters, so check out those events and visit ChicagoRIMS.org. [48:34] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [49:02] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [49:20] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [49:37] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [49:54] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [50:08] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [50:20] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Legislative Summit — March 18-19, 2026 on Capitol Hill, Washington, D.C. | Register now! RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation — Scholarships and Grants RIMS Texas Regional Conference 2026 Education Content Submission — Deadline March 18, 2026! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April ‒ June 2026 Cohort | Led by James Lam RIMS Compensation Survey 2025 — Download Today RIMS Risk Management magazine | Contribute | Awards Edition 2025 RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Episodes Now Live RISK PAC | RIMS Advocacy Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22 | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | March 17‒18 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops RIMS Virtual Workshop – Facilitating Risk-Based Decision Making | March 4‒5 | Register Now Risk Appetite Management | March 25‒26 Claims Management | April 7‒8 Emerging Risks | April 15 | Register Now! Upcoming RIMS Webinars: Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management | March 6 | Presented by RIMS Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes | March 12 | Sponsored by Global Risk Consultants RIMS.org/Webinars   Related RIMScast Episodes: "Investing In Yourself with RIMS 2026 President Manny Padilla" "RIMS 2024 Goodell Award Winner Eamonn Cunningham"   Sponsored RIMScast Episodes: Secondary Perils, Major Risks: The New Face of Weather-Related Challenges | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Randy Nornes, at Aon   Production and engineering provided by Podfly.

Featured Guest Jay Gates Managing Director, Gallagher National Restaurant Practice 20+ years in insurance, former Applebee's risk leader, RIMS committee member, and Kids Chance Nebraska board member. What We Cover Jay's unexpected path into risk and insurance Lessons learned investigating EEOC claims early in his career Leadership principles developed while managing large claims teams Building a full ERM program for 165+ Applebee's locations The most surprising and severe claims in restaurant operations How Gallagher reduces the total cost of risk for restaurant clients Innovative approaches including captives and proprietary analytics Underestimated risks: cyber breaches + product recalls The growing impact of AI on restaurant ops and risk Privacy + liability concerns tied to AI adoption The future of restaurant risk management over the next decade Key Takeaways Restaurant risks are broader than most expect. From contaminated produce to liquor liability fatalities, claims can escalate fast. Cyber and product recall coverages are essential, despite being commonly undervalued. AI will reshape restaurant risk—from customer service to operations tracking—creating both efficiencies and new exposures. Gallagher's differentiator is proactive service, deep data analysis, and tailoring insurance strategy to each client's risk tolerance. Risk leaders benefit from diverse career experiences, which Jay draws on daily. Resources & Links Learn more about the Restaurant Risk Professional (RRP) certification:riskeducation.org/restaurant-RiskPro Explore additional Alliance Insights episodes at riskeducation.org Focusing exclusively on risk management and insurance professional development, the Risk & Insurance Education Alliance provides a practical advantage at every career stage, positioning our participants and their clients for confidence and success.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Cynthia Garcia about her career journey. She credits mentors and sponsors for paving the way for her success. Justin and Cynthia discuss the demands of the Chief Risk Officer role and how Cynthia works with stakeholders who have competing priorities. Cynthia shares her perspective on construction risk and safety. She is seeing more diversity in the rising generation of risk professionals, with amazing opportunities for all.   Cynthia shares how her Confucianist upbringing still makes it a struggle for her to receive recognition. Despite that, she posted on LinkedIn about receiving the 2025 Bill McIntyre Leadership Award at the International Risk Management Institute (IRMI) Construction Risk Conference. That post led Justin to reach out to her. Cynthia speaks of her involvement with the Spencer Educational Foundation, including being a Risk Manager on Campus. Justin and Cynthia talk about the March 6th Webinar, "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management", that she joins as a featured panelist. Listen for tips on careers in risk management for construction.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is Cynthia Garcia, the award-winning Chief Risk Officer for Bernards. We will talk all about her career in construction risk and get some "inspirado." But first… [:44] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:55] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:02] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:20] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:27] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:42] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:53] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:14] On with the Show! Our guest today is Cynthia Garcia. She is the Chief Risk Officer for Bernards. [2:22] Cynthia made a big impact on the risk landscape in 2025 when she received the Bill McIntyre Leadership Award from the International Risk Management Institute during its Construction Risk Conference. [2:35] I wanted to learn all about her career and what it's like to be the risk officer for a major construction company. [2:42] Earlier, I mentioned the March 6th RIMS Webinar, "Hard Hats and High Stakes," and Cynthia will, in fact, be the Chief Risk Officer mentioned there. [2:51] If you like what you hear in this episode and want to learn more about career development, construction risk, and why rising risk professionals should seize the opportunities in the construction sector, you can register for that Webinar. [3:04] Cynthia is a fascinating individual, and I am so pleased to present this interview! Let's get to it! [3:09] Interview! Cynthia Garcia, welcome to RIMScast! [3:27] Justin and Cynthia are going to be collaborating on a RIMS Webinar on March 6th, "Hard Hats and High Stakes." It's all about how women have and can continue to thrive in construction risk management. Cynthia is the ideal Chief Risk Officer to have on that panel. [3:46] Justin thanks Cynthia in advance for being on that panel and being a guest on RIMScast. [4:07] Cynthia is the CRO for Bernards, based in California. [4:33] Like many in her generation, Cynthia stumbled into risk management. She started as an administrative assistant for Morley Builders, an amazing employee-owned general contractor in Santa Monica, California. [4:52] She was fortunate to have several sponsors and mentors within the organization. They helped her see that she belonged at the table. They saw something in her that she hadn't seen in herself, which is the beauty of a mentor. [5:16] In spaces she was not in, they advocated for her and said, Why don't we give this to Cynthia? That's the beauty of a sponsor. Cynthia says she was blessed to be in the right place at the right time. She was able to lean in. [5:32] Cynthia says that the thing that attracts her about risk management and what she does is finding the hard yes. Risk management doesn't say, "No." [5:50] Risk management, when practicing its craft, is fully integrated with operations and understanding what the business needs. It is strategically aligned and helps make sure the organization is making those thoughtful business decisions that allow taking risks. [6:11] Then, risk management takes it to the next step to ask how this adds to our shareholder equity, how this aligns with who we want to be as a company and as people. Risk management threads the needle between entrepreneurship and "cowboyism." [6:28] Risk management leads with "Help me understand, and help us get to the hard yes. We can do it, but here are some of the things we need to do to make sure that it's successful."  [6:50] Cynthia always likes to start by making sure she is coming in with a lot of curiosity. She asks for help to understand what she's not seeing to try to connect the dots. If Cynthia doesn't understand the needs of her business partners, she's not creating value. [7:11] Cynthia joined Bernards as Chief Risk Officer four years ago next month (March). Bernards created the position for her. She says she's blessed to work with talented people. She credits an amazing group of rockstar individuals. She says a rising tide lifts all boats. [8:00] Cynthia says her team carries the weight and does it beautifully. She says the genius of true leadership is understanding we're paving the way for our replacement. Leaders who are afraid of talent need to pause and rethink what that means. [8:26] Cynthia's Risk and Safety team has 13 staff members. [8:45] Cynthia has a VP of Risk and Safety who is definitely a genius at making the wheels turn. He is Cynthia's only direct report. He does an amazing job setting the tone and the pace. [9:03] Cynthia says, We focus on listening to the voices of our internal and external customers. As an employee-owned company, we try to understand what our business partners need, whether it's accounting, finance, human resources, operations, or estimating. [9:22] Cynthia focuses on what our business partners need from risk management to help achieve mission success. [9:27] Cynthia says, from day to day, it's everything from safety to claims, to insurance issues, to coverage questions, but a fair part of the job is when business teams proactively reach out with questions about issues that have come up. [9:50] Cynthia says the beauty of being in a smaller organization is that Risk Management is not siloed. It's not just insurance and claims but also litigation management and contracts. Risk partners closely with the CHRO on policies and employment practices. [10:13] Risk partners closely with Finance and Accounting on a variety of issues. Cynthia feels it is fortunate that Risk is viewed and valued as an internal resource to its business partners and part of the critical strategy to achieve the company's goals. [10:41] Bernards has a little fewer than 400 employee-owners. Cynthia credits Finance and Accounting for paying vendors on time and treating trade partners fairly. She credits Marketing for helping the brand, highlighting company accomplishments, and creating community buzz. [11:30] Cynthia credits the very customer-centric Tech team, who have helped her a lot, and the Virtual Construction Design team, who help with clash detection and getting ahead of constructability issues early on. [11:59] She notes the estimating team getting ahead of what's out there and making sure we have the right projects to go after. It takes a village. [12:14] Cynthia says we like to think all of us employee-owners have a vested interest in mission success. We're all in construction. [12:27] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals across the globe. It's time to Connect, Cultivate, and Collaborate with them. [12:45] Booth sales are open now. General registration and speaker registration are also open right now. Marketplace and hospitality badges will be available starting on March 3rd. Links are in this episode's show notes, and be sure to check out RIMS.org for more information. [13:04] Save the dates March 18th and 19th, 2026, for the RIMS Legislative Summit, which will be held in Washington, D.C.! Join us in Washington, D.C. for two days of Congressional meetings, networking, and advocating on behalf of the risk management community. [13:20] Visit RIMS.org/advocacy for more information and to register. Also, check out the prior episode of RIMScast, Episode 378, featuring RIMS General Counsel and Vice President of External Affairs, Mark Prysock, as we discuss the top priorities for RIMS in 2026 and beyond. [13:41] Let's Return to Our Interview with Bernards' Chief Risk Officer, Cynthia Garcia! [13:58] When Cynthia joined Bernards, there were about 10 people on the Risk and Safety team. Then they went into remodel mode, with a different strategic vision. Continuous improvement is a Bernards core value. It's a 52-year-old company with processes and talent in place. [14:27] Cynthia says we've been looking at the areas where we can have the greatest impact, picking off the low-hanging fruit first, and then building out processes that allow us to scale without reinventing ourselves every few years. [14:57] Cynthia says safety is our priority. Bernards added safety to its core values this year. Cynthia says it was a grass-roots movement. It percolated up through Operations and said, This is who we need to be. [15:24] Cynthia says a risk management team's job is to safeguard all the resources of the organization. That includes people and things, clients, and trade partners. The Risk and Safety team has a holistic view. They can't be good by themselves. They can't be safe by themselves. [15:42] For Cynthia, safety takes on a larger meaning than physical well-being, including creating spaces where people are allowed to be vulnerable. [15:57] Cynthia talks about leading with empathy, with top priority not only for physical safety but also for a psychologically safe environment, where you can show up, be seen, heard, and thrive. [16:41] Cynthia says she works on building connections through conflict. For what could be tough conversations, it helps if you are willing to check your ego at the door and come in curious. Cynthia often states her intention up front. [17:01] Cynthia might say, "My intention isn't to challenge you, it's to have you help me understand your perspective and help me see what I'm missing." Cynthia says she asks a billion questions because there is so much she doesn't know. She always tries to get with the "why." [17:32] Cynthia says, When I try to understand what it is that my counterpart needs to happen, then we can figure out the path forward together. As employee-owners, our goals are aligned. We're looking in the same direction. [17:52] Cynthia says, We may fuss with the GPS a little bit, but we know the destination is set and we have a commitment to one another. Once we are willing to shut up, listen, and ask the questions to learn, then we can figure out how to be of service. [18:16] Cynthia says her job isn't to convince, it's first to understand. [18:22] A Quick Break! The Spencer Educational Foundation's Risk Manager on Campus application period will open on April 1st, 2026, and it will close on June 30th. Grant awardees, colleges, and universities are typically notified in September. [18:51] The Course Development Grant application deadline for Interval Number 2 will be on June 15th, 2026. Award notifications will be sent out in late July. [19:06] General Grant applications will open on May 1st, 2026, and the application deadline is July 30th. Internship Grant applications open on August 15th and close on October 15th. [19:18] Links to each of these grants are in this episode's show notes. Visit SpencerEd.org for more information. [19:27] Let's Conclude Our Interview with Bernards' Chief Risk Officer, Cynthia Garcia. [19:41] As Cynthia mentioned earlier, Bernards is employee-owned. Cynthia thinks that Bernards being 100% employee-owned makes all its employee-owners better businesspeople. The heart of risk management is making those good choices. [20:27] Looking across the table and knowing she is betting with her fellow owner's retirement, makes Cynthia think about that a little bit differently. She thinks the employee ownership structure lends itself to amazing risk management. [20:49] Cynthia says you have to be disciplined. You're not spending somebody else's money on this. We're working together, and when we all make good choices, we are ultimately rewarding ourselves and impacting future generational owners, too. That's quite meaningful. [21:09] Cynthia says it's the best of both worlds. You have the umbrella of a big company paying the bills, but you're rewarded for smart entrepreneurism. [21:27] Cynthia has a long-term view when making decisions. It's not about what's in it for her. It's how does this support who we want to be today, and who we want to try to be tomorrow? It makes us look further into the horizon. [22:24] May 4th through May 8th, 2026, is Safety Week, here in the U.S. That coincides with RISKWORLD 2026. Cynthia will be at RISKWORLD. [22:41] Cynthia says for Safety Week, Bernards has planned activities on each job site to highlight the good things that men and women are doing to build the communities in which they work and live, and doing them in such a way that they go home to families and loved ones. [23:01] Justin notes that settlements from construction site accident injuries can be astronomical. Part of Cynthia's job is to minimize accidents from the outset, which connects to Bernards' core value safety-first mindset. [23:34] Cynthia says client response has been amazing. Recently, one of the project executives at Bernards was invited to the school district and won an award acknowledging their efforts on safety. That felt good because it wasn't Bernards saying it, but the clients saying we see it. [23:58] Bernards has trademarked "A Better Experience." It's a phrase they are proud of. They're building not only to create a better experience for their employee-owners, but also for project success for owners who value safety. [24:15] Bernards is a large school builder, working on many programs up and down the state. Bernards is cognizant of the impact they are having on the future generation of leaders and citizens. They're very grateful to have that acknowledgement from their clients. It's special. [25:29] Cynthia says she is absolutely seeing more opportunities for women in risk management and in construction. Construction tends to be inclusive. It's an industry filled with optimists. Its people bring that can-do attitude. They are very generous and gracious with their support. [26:13] Cynthia says she has been in the risk profession for about 30 years. The demographics have changed, and she sees diversity in the new young talent permeating the industry. [27:10] Cynthia thinks the work that the Spencer Educational Foundation does in partnership with RIMS is tremendous. She says it is amazing that colleges and universities are offering the Risk Management and Insurance degree and concentration. Cynthia never heard of that before. [27:35] Cynthia says that people her age moved into risk management from adjacent areas. She is pleased that now people come into risk management intentionally. She talks about risk managers trying to figure out how to help businesses thrive and grow to the next level. [28:47] Cynthia is one of Spencer's Risk Managers on Campus. She explains how the grants to colleges work. Spencer works tirelessly to make sure the next generation of leaders know what an amazing career this is and the opportunities it offers. Cynthia is grateful to be part of it. [30:15] Justin mentions that other Risk Manager On Campus risk professionals have been guests on RIMScast, and they have inspiring stories to tell. They love reaching the young people who are going to be the future of the profession. [30:35] Megan Miller, Spencer CEO, was a recent RIMScast guest. Check out SpencerEd.org for grants and opportunities. If you know somebody interested, send them the link to explore. If they connect with people like Cynthia through the RMOC grant, their experience will be richer. [31:28] Cynthia came to Justin's attention through a LinkedIn post about her being honored as the 2025 Bill McIntyre Leadership Award recipient at the International Risk Management Institute (IRMI) Construction Risk Conference. [32:08] Cynthia says you're always a little bit surprised but so pleased when you get acknowledged by your peers. As IRMI is pre-eminent in the construction risk management space, it was more special to Cynthia, as she knew of the great work they did. [32:33] Cynthia remembers starting in risk management and going to them as a resource. She knows the people who make IRMI thrive. They're people Cynthia looks up to. She is very grateful that it was her turn to be acknowledged. She feels there are way more qualified folks out there! [33:41] Cynthia says she is an immigrant. English is her second language. She is Korean and grew up in a Confucianist household. In terms of philosophy, you should be seen, not heard. The collective win is celebrated. [34:06] Cynthia has had to work to get over the heebie-jeebies about self-promotion or what could be viewed as arrogance. She's working on it and doing better at accepting compliments. It's an opportunity to show others who are coming up behind her that diversity exists. [34:45] Cynthia says it's hard for us to visualize ourselves in a role without models who came before us. What are the opportunities that exist? Can I also think about this? Cynthia said the marketing team is genius. Justin said that was what caught his eye on LinkedIn. [35:19] Cynthia says she is very fortunate to be supported by so much talent and such a community that helps uplift you. [35:27] Justin comments that the "seen and not heard" thing is not just Confucianism, but also old-world Brooklynism. His old relatives said, "Children should be seen and not heard." [35:52] Cynthia says we all have shared experiences within our collective. People tend to focus on the differences. It is important to celebrate our differences, but there's so much more in common, regardless of the geography and the generation in which we were raised. [36:10] There is so much in shared value. Cynthia says she is constantly inspired by those stories of people who saw a different future or leaned into a hand up. That motivates her to try to be better and drives her. [36:35] Justin says posting is a networking opportunity too. If that post had not gone up, Justin would not have met Cynthia. It's a way to broaden your network and meet more people. Justin says it's OK to do a humblebrag. Justin is known as the shameless self-promoter. [37:11] Justin says it is very special when you are acknowledged outside your company. [37:20] Cynthia's post triggered a series of events, one of which is, in recognition of Women's History Month, RIMS will present the webinar on March 6th, "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management", with Cynthia as a featured panelist. [37:38] Cynthia will provide the CRO perspective. Also on the panel are Danette Beck from Astrus and Jessica Risullo from WTW. Cynthia shares how she knows these amazing, trailblazing women. Cynthia is grateful to be on a panel with them. They're rockstars! [38:47] Justin says it's going to be excellent! The link is in this episode's show notes, or visit RIMS.org/webinars. Megan Miller, the CEO of the Spencer Educational Foundation, will kick things off with a special introduction. [39:15] It's going to be a wonderful way to observe and celebrate Women's History Month, ahead of RISKWORLD and Construction Safety Awareness Week. [39:30] Justin thanks Cynthia for joining us on RIMScast, sharing with listeners her construction risk perspective and career path. There's a lot to take away. Justin thanks Cynthia for her perspective and her time. [39:45] Cynthia says she appreciates Justin and the work RIMS is doing to put a spotlight on our amazing industry and the opportunities that exist. She says she is grateful for the opportunities Justin and RIMS are creating and thoughtfully curating. [40:04] Special thanks again to Cynthia Garcia for joining us here on RIMScast. You can hear more from her directly on March 6th during the RIMS Webinar "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". [40:17] RIMS members, keep in mind that RIMS Webinars are complimentary for you. That is one of the many benefits of a RIMS membership. Visit RIMS.org/webinars and the link in this episode's show notes to register. That's going to be a fantastic session! [40:34] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [41:03] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [41:21] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [41:38] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [41:55] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [42:09] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [42:21] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Legislative Summit — March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RISK PAC | RIMS Advocacy RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Construction Safety Week RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Compensation Survey 2025 — Download Today RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Debut Episode Now Live Spencer Educational Foundation — Scholarships and Grants RIMS Texas Regional Conference 2026 Education Content Submission — Deadline March 18, 2026! Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management | March 6 | Presented by RIMS — Featuring Today's Guest, Cynthia Garcia! Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22 | June 9‒10 RIMS-CRMP-FED Exam Prep with AFERM | March 17‒18 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops RIMS Virtual Workshop — "Facilitating Risk-Based Decision Making" | March 4‒5 | Register Now "Risk Appetite Management" | March 25‒26 "Claims Management" | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes" | March 12 | Sponsored by Global Risk Consultants RIMS.org/Webinars   Related RIMScast Episodes: "Investing In Yourself with RIMS 2026 President Manny Padilla" "Strategic Risk Career Transitions with Susan Hiteshew" "Supply Chain Integrity and Sustainability with Nicole Sherwin of EcoVadis"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Cynthia Garcia, Risk Manager at Bernards   Production and engineering provided by Podfly.

I can't wait for you to meet “Your Parenting BFF”, Patti Reed! Patti is a believer, wife, mom of two young adults, an author and a Certified Coach in Conversational Intelligence.If you are parenting teens or young adults (and you have wished that age came with a manual!), you will appreciate hearing Patti's tips on how to have more meaningful conversations with your young adults, parenting by faith and not fear, and so much more!Show Notes:Contact Patti by email: patti@pattireed.netWebsite: www.pattireed.netTo sign up for Patti's mailing list: https://lp.constantcontactpages.com/su/90w3aHNBook:Face To Face, Smart Conversations with Yourself, Your Teenager, and Your Young Adult, by Patti Pilkington ReedConnect with Denise:Email: denise@wearethebridge.org or podcast@wearethebridge.orgFacebook/Instagram: @motivesgirl1“That Voice (How I Hear Him Speak)” from Treasured Inside, Devotions with Denise, Vol 2Available at Amazon: http://bit.ly/4qJ3ho3The Bible Recap  wearethebridge.org/recapBridge Ladies Bible Studies    wearethebridge.org/study Did you know you can now watch Over the Rims of Mugs?Visit https://www.wearethebridge.org/mugsvideoPlease share Over the Rims of Mugs with a friend if you enjoyed this episode. Over the Rims of Mugs is still growing, and your positive review and 5-star rating would help.The Bridge Podcast Network is made possible by generous support from The Boardwalk Plaza Hotel and Victoria's Restaurant on the boardwalk in Rehoboth Beach, Delaware - Open 7 days a week, year-round - Learn more at https://boardwalkplaza.comFeedback, or Show Ideas? Send an email to podcast@wearethebridge.orgDownload The Bridge Mobile App to get the latest podcast episodes as soon as they are published!

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews RIMS General Counsel Mark Prysock on RIMS Public Policy Focus in 2026.   The RIMS Public Policy Committee is focusing on several legislative issues in 2026. These include the reauthorization of the Terrorism Risk Insurance Act, a federal government backstop in the event of a catastrophic terrorist attack. The bipartisan legislation would reauthorize program funding through 2034.   The Public Policy Committee is tracking an association tax reform proposal to levy a 21% tax on nonprofits' net earnings. Republicans and Democrats together are interested in the potential tax revenue of this proposal. RIMS serves on the Steering Committee of an association coalition led by ASAE to try stop this new tax from moving forward.   Other legislative interests include reforming the National Flood Insurance Program, mandating disclosures around third-party litigation funding of civil lawsuits, and providing the risk management perspective on various cybersecurity and data privacy initiatives.   This year's Legislative Summit, scheduled for March 18th and 19th in Washington, DC, will allow RIMS members to meet with their members of Congress to discuss these issues. Registration for the Summit is now open. Justin and Mark discuss these topics and more in today's interview.   Finally, if you haven't already done so, please consider contributing to RISK PAC, the Society's political action committee.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is RIMS General Counsel and VP of External Affairs, Mark Prysock. He's here to tell us what's going on with RIMS advocacy efforts and the top items on our legislative agenda in 2026 and beyond. But first… [:47] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:57] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:06] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:22] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:29] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:43] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:54] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:12] The RIMS 2025 Compensation Survey is now available through the link in this episode's show notes. The survey incorporates data from 867 U.S. and 201 Canadian Risk Professionals. Download it today and see how you measure up to your peers. [2:32] RIMScast has its first spinoff, RIMScast Canada! It is a video podcast hosted by RIMS Canada Conference Committee Chair, Aaron Lukoni, with Justin as co-host. Check it out at RIMS.org/canada. This is a monthly series, and we are stoked to share it with you! [2:57] On with the Show! Our guest today is Mark Prysock, the General Counsel and Vice President of External Affairs here at RIMS. It is always wonderful to have him on the show. [3:07] He's here to remind us of the RIMS legislative priorities of 2026 and how they will be addressed during the RIMS Legislative Summit on March 18th and 19th in Washington, D.C., and who qualifies to attend. [3:19] He will also talk about what else we can expect in the way of public policies that RIMS would like to prevent, and those we support. There are lots of links in this episode's notes. You can visit RIMS.org/advocacy, as well. [3:30] Let's learn about the policies that are changing the risk landscape. [3:34] Interview! Mark Prysock, welcome back to RIMScast! [4:15] Mark says the RIMS priorities for 2026 include third-party litigation funding, where third parties, often from other countries, invest in civil litigation. This is of great concern from a national security perspective.  [5:22] If a foreign firm wants to invest in a lawsuit against a defense manufacturer, that foreign investor will have access to everything that comes out in discovery. [5:36] There's a lot of information that can be gleaned through civil litigation. That is a national security concern. That's one of the things we are hoping Congress will address. [5:55] Justin notes that RIMS had a couple of webinars about TPLF in 2025. The webinar panelists were incredibly knowledgeable and passionate about prevention. They covered ways to spot it and what to do about it. [6:21] Mark states that there is a strong link between TPLF agreements and nuclear verdicts for substantial amounts of money. [6:34] There's a real risk from a commercial insurance buyer's perspective if you are in an industry that is subject to TLPF arrangements, that the insurance for these types of lawsuits could dry up or become substantially more expensive. This could be extremely problematic. [7:15] Congress is considering reauthorizing the Terrorism Risk Insurance Act (TRIA). There is bipartisan support for it. The full House will be voting on it before too long. This may get wrapped before the RIMS Legislative Summit. The reauthorization would extend through 2034. [7:40] Mark says that overall, RIMS would support a long-term reauthorization of the program. [9:25] A proposal to tax the net earnings of non-profits came up almost two years ago. Some members of Congress feel that non-profits compete with for-profit organizations but don't bear the same tax burdens. Congress is always looking for new revenue streams. [11:08] Congress is not done with budget bills and comprehensive tax bills. If there is a bill that comes forward this year, RIMS will try to make sure that there are no changes in the way that non-profits are taxed. [11:28] Justin points out that RIMS is serving on the steering committee of a broad-based association coalition led by the American Society of Association Executives. It's called the Community Impact Coalition. A substantial number of associations in the D.C. area are involved. [11:50] Being on the steering committee means that RIMS plays a very active role in settling on the legislative strategy in dealing with this issue. [12:01] Mark says it's great to be involved in working with this group. They had a great deal of success last year in making sure none of these new tax provisions were included in the budget reconciliation bill. [12:15] WMark says that we just need to make sure again, for the last half of this session of Congress, that those tax provisions don't rear their ugly heads again. [12:24] Justin states that we love ASAE at RIMS. In 2023, RIMScast won an NYSAE Award for MarCom Excellence. [12:40] Justin asks about the National Flood Insurance Program (NFIP). It is typically funded as part of the Continuing Resolution, a bill that funds the federal government in general. That bill is considered by Congress every three to nine months. [13:22] We often reach a point where the issues regarding the Continuing Resolution are hashed out at the eleventh hour. Sometimes, they're not, and the government experiences a partial shutdown, which, at the time of recording this episode, we are currently in. [13:42] At present, the NFIP is not funded. RIMS advocates for the NFIP to be reauthorized, with enhancements, for an extended time, such as two or three years. However, if it were not part of the Continuing Resolution, it would no longer be considered must-pass, and it might go away. [15:31] Mark talks about attending the RIMS Legislative Summit. You may attend if you are a RIMS member working for a company that does business in the United States. [15:37] Mark says we are looking for RIMS members who represent companies that are constituents of Members of Congress, so you can go in, talk to a Member, say I am here on behalf of RIMS, and I work for a company that has X number of employees in your district. [15:59] Say that these are some risk management issues that my company is facing right now. I'd like to talk to you about those, if I could. [16:08] Quick Break! The RIMS CRO Certificate Program in Advanced Enterprise Risk Management is RIMS' live virtual program, led by James Lam. Great News! A brand new cohort has been announced. Registration closes on April 6th. [16:29] Beginning on April 14th, bi-weekly workshops will be held from 11:00 a.m. to 3:00 p.m. Eastern Time through June 23rd. Register now! A link is also in this episode's show notes. [16:42] February is Insurance Careers Month! That coincides nicely with the Spencer Educational Foundation's 7th Annual Spencer Day, which will be February 23rd. [16:54] Spencer's CEO, Megan Miller, was recently a guest on RIMScast, and we were discussing how everyone can join in this virtual celebration. Spencer is seeking $47 donations in honor of its 47th year. [17:11] The goal on Spencer Day is to raise $7,500 to support an additional scholarship, which will be awarded in the Spring. A link to Spencer Day information is in this episode's show notes. Visit Spencered.org/spencer-day. [17:27] Let's Return to Our Interview with RIMS General Counsel and Vice President of External Affairs, Mark Prysock! [17:58] Mark says the RIMS Legislative Summit will take place in Washington, D.C., on March 18th and 19th. March 18th is Education Day, held at the U.S. Chamber of Commerce Building in D.C. There will be training on the various advocacy issues. [18:28] There will be panel discussions around third-party litigation funding, reauthorizing the National Flood Insurance Program, and association tax reform. They bring together many people from the D.C. community to talk about these issues. [18:45] This includes lobbyists, people from the administration, Congressional staffers, and people who are going to bring different perspectives to provide RIMS attendees with a well-rounded understanding of each of these issues. [19:04] After that, there will be a basic presentation on how to lobby Members of Congress, with all the dos and don'ts. By that time, RIMS members will be ready to go. There will be one-page leave-behinds that outline an issue in depth and have a specific ask for Members of Congress. [19:27] Mark says we'll make sure that those one-pagers are transmitted to all the Congressional offices we'll be visiting, before our meetings, and also have printed leave-behinds for our members to take with them when they go to the Hill. [19:41] Thursday, March 19th, will be a full day. We release the hounds! Everybody hits the Hill, talks to Congressional staff members, and maybe Members of Congress, about our legislative priorities. [20:11] Mark says the pitch in 2025 was solid. One issue, the Freedom to Invest in Tomorrow's Workforce Act, liberalized the use of 529 College Savings Accounts for credentials, certifications, and things that might advance their careers in other ways. [21:06] There was very strong bipartisan support in the House and the Senate. Mark says RIMS participated in a very effective lobbying campaign on this. That legislation was passed into law using the exact language that our lobbying campaign recommended. [21:28] For Mark, that was a high point from last year's RIMS Legislative Summit. Another high point was the attendance numbers. There were about 100 Congressional visits in total. RIMS was very well-represented last year, and Mark hopes we outdo ourselves this year. [21:52] A Final Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [22:12] General registration is open, and you can lock in the Advance Rates through February 28th. Marketplace and Hospitality Badges will be available starting March 3rd. Links are in the show notes. Check RIMS.org for more information. [22:29] Let's Conclude Our Interview with RIMS General Counsel and Vice President of External Affairs, Mark Prysock. [22:48] Beyond the Legislative Summit, the RIMS Public Policy Committee wants to work very closely with the RISK PAC Trustees to raise awareness around RISK PAC and the important role that it plays in supporting our legislative program. [23:05] RISK PAC is the RIMS political action committee. It's a vehicle to raise personal funds from RIMS members and use those dollars to support the reelection campaigns of Members of Congress who RIMS believes already support our issues or are in a position of influence. [23:38] Mark says we have some fairly exciting new things happening with RISK PAC this year. The first is a fundraising reception at RISKWORLD on Sunday afternoon, just before the opening general reception. [24:29] Any RIMS member who is a U.S. citizen can support the RISK PAC. Make a contribution to the PAC in order to attend. [24:58] RISK PAC will have a fundraiser at the Florida RIMS Conference in July. They are planning on more exposure at other regional conferences this year, as well. [25:36] Mark expects a lot of good things to happen for the RISK PAC this year, and hopes to raise a good amount of money to support our legislative initiatives. [26:14] Mark says TRIA is becoming a new, very relevant issue to the risk management community. It's all about extending an existing program. [26:39] Last week's RIMScast guest was RIMS's 70th President, Manny Padilla. Mark says Manny has been a long-time supporter of the Public Policy Program and Committee. He's a financial supporter of RISK PAC. He's a regular attendee at the RIMS Legislative Summit. [27:41] Having someone in the President's role who is enthusiastic and supportive of our Public Policy Program is great for us. [27:50] Mark says that Manny Padilla has been great for connecting the Public Policy Committee with other people working on similar issues. [28:10] Justin and Mark look forward to speaking more, later in the year, about what is accomplished on these issues. [28:33] If you have any questions before the RIMS Legislative Summit, you can visit RIMS.org/advocacy or reach out to Mark Prysock directly. He'd love to hear from you. [28:53] Special thanks again to Mark Prysock for joining us here on RIMScast and providing these very critical advocacy and legislative updates. The RIMS Legislative Summit will be held on March 18th and 19th. [29:10] Register today at RIMS.org/advocacy. There is also information about the RISK PAC. We want you to get involved and take part in advocating for your profession! [29:26] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [29:54] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [30:12] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [30:31] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [30:47] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [31:01] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [31:13] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Legislative Summit – March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RISK PAC | RIMS Advocacy RISKWORLD 2026 Registration – Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation | Spencer Day — Feb. 23, 2026 RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Compensation Survey 2025 — Download Today  RIMS Risk Management magazine | Contribute RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP)| Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Debut Episode Now Live Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22, 2026 | June 9‒10 RIMS-CRMP-FED Exam Prep:  Feb 17‒18 | Led by Joseph Mayo Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops RIMS Virtual Workshop — "Facilitating Risk-Based Decision Making" | March 4‒5 | Register Now "Risk Appetite Management" | March 25‒26 "Claims Management" | April 7‒8 "Emerging Risks" | April 15 | Register Now! Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes" | March 12 | Sponsored by Global Risk Consultants RIMS.org/Webinars   Related RIMScast Episodes: "Investing In Yourself with RIMS 2026 President Manny Padilla" RIMS Public Policy Committee: "Navigating Cyber and IT Practices to Legal Safe Harbors" "Spencer Day 2026 | The Future of Strategic Risk Management" "Risk Outlook '26 with Morgan O'Rourke and Hilary Tuttle"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL  (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent  "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant  "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL  "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company  "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich  "Understanding Third-Party Litigation Funding" | Sponsored by Zurich  "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog  "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Mark Prysock, RIMS General Counsel & VP External Affairs   Production and engineering provided by Podfly.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews RIMS 2026 President Manny Padilla on several topics, including his first connection with RIMS and his attendance at RISKWORLD on a scholarship. Manny is the first RIMS president of Hispanic descent. This is a historic moment. Manny remarks on the support for diversity he has experienced in RIMS since joining.   Manny's background spans corporate risk leadership, military service, and teaching. Manny speaks of his teaching practices and how he links the academic side to real situations and strategies the students will face. Manny shares anecdotes from his military service. Justin and Manny discuss the objectives of the RIMS Legislative Summit in Washington, D.C., on March 18th and 19th, and Manny invites all members to register and participate.   Manny continues the interview with reflections on the RIMS-CRMP, other certifications and designations, and how investing in developing yourself will make you stand out as a risk practitioner. Justin and Manny discuss the nature of polycrisis. Manny asks you to participate and become involved in your RIMS chapter and educational events.   Listen for career advice for both new risk practitioners and seasoned risk professionals.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are delighted to be joined by RIMS 2026 President Manny Padilla. We're going to learn about his plans for the presidency and his unique career in risk and pre-risk. But first… [:47] RIMS Virtual Workshops. The next RIMS-CRMP-FED Virtual Workshop will be led by Joe Mayo on February 17th and 18th. On March 10th, we have a RIMS-CRMP Exam Prep with John Button, a recent RIMScast guest. [1:04] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making" with Joe Milan. Register today and strengthen your risk knowledge! RIMS members always enjoy deep discounts on the virtual workshops. [1:21] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:36] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:47] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the link in this episode's show notes. [2:07] The RIMS 2025 Compensation Survey is now available through the link in this episode's show notes. The survey incorporates data from 867 U.S. and 201 Canadian Risk Professionals. Download it today and see how you measure up to your peers. [2:25] RIMScast has its first spinoff, RIMScast Canada! It is a video podcast hosted by RIMS Canada Conference Committee Chair, Aaron Lukoni, with Justin as co-host. Check it out at RIMS.org/canada. This is a monthly series, and we are stoked to share it with you! [2:50] On with the Show! I am so pleased to present our guest today! He has been a big supporter of RIMScast for years! I'm thrilled that he is our 70th President here at RIMS. I'm talking about Manuel "Manny" Padilla. [3:05] Manny was RIMS 2025 Vice President. He's been a positive force on the Board. He is also the Vice President for Risk Management & Insurance for MacAndrews & Forbes, Inc. He is a RIMS-CRMP holder. He truly loves risk management! He will be a fantastic RIMS President! [3:26] We're going to talk about his career pre-risk-management and bring us up to the present, what his experience with RIMS has been like, and his perspective on what it takes to achieve success in the profession today. Let's get to it! [3:40] Interview! RIMS 2026 President Manny Padilla, welcome to RIMScast! [4:02] Manny says everyone's energy is up there, and he's looking forward to having a very positive 2026. [4:16] Manny says that being Vice President involved a lot of learning. He says that the RIMS board participation is very much a training program. You learn to see how the organization responds. In the Executive Board, you start to see how RIMS is run. [4:34] Manny says, as you move forward from Secretary to President, you pick up a lot of training. It's a good training program. [5:00] Manny says that on the Board, there's a lot of excitement and a lot to do. There's a lot of information to impart to our professional society. We're very active and motivated to get that information out there. [5:15] Manny is the 70th president of RIMS. In 1992, Manny attended RISKWORLD in New Orleans through the Anita Benedetti Student Involvement Program. The information was on a board at the College of Insurance. He applied for it and was sponsored to attend. [6:30] In the College of Insurance, Manny was sponsored by an insurance company as an assistant junior underwriter, in the days when computers were just meant to write letters and fill out policy forms. He knew just one side of the business. [6:55] Going to RISKWORLD got Manny out of New York for a week. When he learned what risk management was, his eyes opened, and he said, this is what fits best for me. It was looking at risk strategically and doing things to protect the company's assets. That resonated with him. [7:48] When underwriters and brokers answer the phone, often it's with Hello, this is (Company). How can I help you? Manny says that when he answers the phone, it's with Hello, this is (Company), this is Manuel Padilla. I hope you're having a great day! How can I help you? [8:04] That approach made a difference. From the very first, Manny found that this is a relationship business. It's very direct. You know who you're doing business with. People have an open mind and are willing to listen and hear you out. [8:41] Manny has relationships over the years through RISKWORLD; some have become primary vendors. He notes that there has been a lot of change in the last decade, and since COVID, there's a whole new group of professionals. Some are going to RISKWORLD for the first time. [9:20] Manny says, as our technology develops, and as we become more crucial to the companies we manage and represent, he sees it on the floor at RISKWORLD. As risk professionals, you need to step out from behind the table and go into the industry. [9:52] The industry is welcoming and will provide you with a significant number of opportunities. [10:17] Manny Padilla is the first RIMS President of Hispanic descent. He finds that personally meaningful, but says that RIMS has always extended a hand to all. He felt that when he first stepped onto the conference floor. He has met some unique people and friends through RIMS. [11:02] Manny says it's great to get the recognition, but it's secondary. RIMS is a good environment. If you're looking at a career change or looking to expand your horizons, this is the organization that you team up with for development. [11:42] The bigger picture and strategy are built into risk management. Risk managers do better when they raise their hand and say, "This doesn't smell right." They tend to be strategic, forward-thinking, and practical when executing their jobs. Manny speaks up at Board meetings. [12:30] Seeing the big picture comes with a responsibility. Not being able to operate a significant portion of your business or have your product on the shelves sends your customers to your competitor. [13:39] Manny gives a shoutout to all veterans in RIMS and shares some thoughts from his military experience. He was in the Navy 24 hours after he graduated from high school. He has been to every country except those that are sanctioned. He was in the Navy from 1982 to 1988. [14:50] He says it was a wonderful time. The Berlin Wall came down while he was in the military. [15:03] Manny was an Assistant Master-at-Arms for Fighter Squadron 124 in San Diego. The movie Top Gun was filmed on the base at Miramar Naval Air Station. Manny met Tom Cruise and the rest of the crew briefly during the filming. [15:57] Some of the Squadron 124 instructors were in the movie as background in the club scene. The Top Gun character was based on a real pilot, who later went into state government. [17:01] Manny is an adjunct at the Greenberg School of Risk Management. He has some latitude in how he teaches. What he teaches is centered on a set of accepted books and information. There's the technology the students need to know, and the practice that he teaches them. [17:42] Manny links the definitions, structures, and policy designs to real-world situations and his experience on how those situations were handled. A lot of it has to do with the customization of products and policies to address typical risk exposures. [18:01] It goes to the risk management process, RIMS-CRMP issues, and ARM-type approaches. Every policy and program is custom, based on the risk appetite and risk tolerance of the insured company and what they've decided to do. [18:25] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. [18:44] Booth sales are open now. General registration and speaker registration are also open. Marketplace and hospitality badges will be available starting March 3rd. Links are in the show notes. Check RIMS.org for more information. [19:02] The Spencer Educational Foundation will also have a presence at RISKWORLD. Spencer's CEO, Megan Miller, recently joined us on RIMScast. February 23rd 2026, will mark the 7th Annual Spencer Day. [19:19] We believe in celebrating this industry's diverse and talented future and would love for everyone to join us in this virtual celebration. Visit SpencerEd.org and help us reach our fundraising goal of $7,500 to support an additional scholarship that will be awarded this Spring. [19:37] We're hoping you will make a $47 donation today, in honor of Spencer's 47th year of operation. A link to Spencer Day is in this episode's show notes. [19:48] You can visit SpencerEd.org. There is also a link to Megan's appearance on RIMScast in this episode's show notes. [19:57] Let's Return to Our Interview with RIMS 2026 President, Manny Padilla! [20:07] Manny says there is much overlap between ISO and COSO. He doesn't do one versus the other; he does both. Both have shared technologies and wording. You need to understand each because you can be in different jurisdictions with audits that may be biased toward one. [21:12] Manny explores the meanings of investing in yourself. For early-career professionals, it's building your technical depth and professional credibility. It means understanding policies, claims dynamics, the financial impact on you, and how the industry comes into play. [21:56] For seasoned professionals, the investment is fluency in strategic issues. It's understanding enterprise risk, governance, capital strategy, and how emerging risks are changing, through technology, geopolitics, climate, and litigation, and how they interact. [22:30] It also means investing time in mentoring and developing future leaders. It expands your ability to manage your duties, brings new ideas into the industry, and is important for your brand. [22:48] It's your career. If your company won't pay for you to go to RISKWORLD, remember it's your future and your brand. Invest in your brand. You're the person who carries it forth into the future. You need to see where the movers and shakers are heading. You will learn from them. [24:27] The RIMS Legislative Summit is on March 18th and 19th. Manny says it's a little challenging and overwhelming to think of going into the government to speak with Congressmen, Senators, and other legislative folks. [25:01] It helps you develop new skills. Manny learned how to approach and discuss sensitive topics with regulatory bodies and meet with other people who are focused on that area. [25:17] Manny says, when you sit across the table to discuss the Federal flood program, the terrorism program, the pandemic risk insurance program, and the qualified risk manager description, and you move it through various channels, it's mind-boggling and most rewarding. [25:41] While you're a risk insurance person, you're not there to represent your company. You're there to represent RIMS and the risk profession. [26:05] Manny has a 20-plus-year relationship with the Coast Guard Auxiliary. They have a legislative group there, and Manny will generally step into the office and say hello and figure out how things are going and how policy gets through. [26:27] At the RIMS Legislative Summit, you're there to pitch a very specific set of topics. They are very willing to listen to the topics. In some cases, they are the policy experts on those topics. What they are looking for is a variety of different approaches from actual professionals. [26:52] They refine their development of policy based on these meetings. Manny says it is very helpful to participate, and you're all invited. [27:05] Manny says the pitch is specific to a specific person, such as the Senator involved in Federal flood insurance. Manny explains how you can team up with other legislators to come on board with your pitch. [28:15] Manny says he likes pairing with a risk professional to meet legislators. He says, in some cases, we have affiliations with some insurance carriers, brokerages, and vendors. He likes going with them, as well. In some cases, they have a robust system in place. [28:32] Manny says it's good to see the professionals at the table and how they do it. But as professional risk managers, we don't do too badly. We add a lot of value, and the legislators do appreciate that. [28:54] Justin shares his experience of going with Mark Prysock, RIMS GC, Robert Cartwright, RIMS President at the time, and Gary Raymond of FedEx at the time. Justin shadowed them and watched how they worked. [29:31] RIMS has legislative priorities. Major priorities are the Federal Flood Program and the Terrorism Risk Act. Manny says that what tends to happen is that every year they get extended for a short period until Congress comes together to argue about something else. [29:55] It's always under a threat of not being renewed, but then it gets extended again. Manny says it's a key issue that keeps coming up. Manny says to look at the Legislative Affairs page at RIMS.org/advocacy for the list of priorities. [30:21] The first day of the RIMS Legislative Summit is for sitting down and talking about the specifics of each of the items. Then we bring in some experts in each particular area to talk about what is on the floor to be able to get through Congress to final agreements. [30:47] Justin announces that Mark Prysock will be on RIMScast next week to do a deeper dive on the RIMS Legislative Summit. [31:13] Quick Break! The RIMS CRO Certificate Program in Advanced Enterprise Risk Management is RIMS' live virtual program, led by James Lam. Great News! A brand new cohort has been announced. Registration closes on April 6th. [31:34] Beginning on April 14th, bi-weekly workshops will be held from 11:00 a.m. to 3:00 p.m. Eastern Time through June 23rd. Register now! A link is also in this episode's show notes. [31:46] Save the dates, March 18th and 19th, 2026, for the RIMS Legislative Summit, which will be held in Washington, D.C. Join us for two days of Congressional Meetings, networking, and advocating on behalf of the risk management community. [32:03] Book your hotel room at the Sofitel Washington, D.C. in Lafayette Square by February 16th after you register for the event, and you will receive a special RIMS rate of $359 per night. [32:18] Let's Conclude Our Interview with RIMS 2026 President, Manny Padilla. [32:30] Manny has several certifications after his name. The first is RIMS-CRMP. Justin first interviewed Manny after the RIMS-CRMP. In that interview, Manny said the RIMS-CRMP helps risk professionals stand out by signaling a commitment to continuous learning. [33:25] Manny looks at designations and certification as how you stack up with your peers and how corporations look at you, compared to others. Certifications prove your higher knowledge. [33:54] RIMS recently released the Compensation Survey. If you start looking at the differences in pay, pay for persons who have no designation vs. those who have any designation, vs. those who have the RIMS-CRMP certification, you will see the difference in the six figures. [34:44] Manny would rather have a nice designation and a job that pays six figures more than a job for a person with no designation. You also have to demonstrate love for the industry and prove that you're keeping up. [35:12] A good portion of Manny's designations are based on his major in risk management and insurance. However, the technology, words, and approach have changed during his career. A risk manager became a strategic risk manager, then an enterprise risk manager. What comes next? [35:50] Manny states that we should be certified and have these designations so that we understand the world we are living in. [36:08] Manny says we are facing a convergence of risks, or a polycrisis. We have geopolitical instability, accelerated technology adoption, climate expectations, and an increasingly complex litigation environment. The financial world depends on what the government says at any time. [36:39] Manny asserts that these risks don't exist independently anymore. Manny deals with catastrophes every day. He's trying to stay one step ahead of the calamities. We need to start acknowledging the strategic nature of risks and the ability to address them simultaneously.  [37:09] We also need to keep in mind that we live in an environment where digital access to information, data, and real financial information comes very quickly. [37:23] Twenty years ago, you could have major catastrophes in countries around the world, and if you weren't directly impacted by it, you didn't pay attention to it. It would take weeks to get basic information on them. Today, information comes to us at a mind-boggling velocity. [37:59] Justin and Manny discuss last year's L.A. wildfires and how the people are still reeling from them. [38:44] Manny, it's been such a pleasure to see you, and I'm very much looking forward to what you're going to bring to the presidency this year. Are there any parting words regarding what people can expect at RISKWORLD, or anything you are working on? [39:10] Manny says, I would basically say many thanks to all of you who are listening here. It's an honor to have been selected as the 2026 RIMS President. I ask that each of you participate with RIMS at our many professional events and learning opportunities. [39:27] We are seeking out leaders and participants for our chapters, the many committees we support, and at our legislative events. Don't be shy. Engage. Invest in yourself. And see you all at RISKWORLD! [39:44] Special thanks again to RIMS 2026 President, Manny Padilla, for rejoining us here on RIMScast! It is always a pleasure to see him. I've got links to Manny's prior RIMScast episode as well as the press release announcing his presidency. [40:00] Manny will be at the RIMS Legislative Summit on March 18th and 19th in Washington, D.C. That's two days of advocating for the best interests of the risk profession. You must be a member to attend. [40:15] Book your hotel room by February 16th to register and reserve your hotel room at the special RIMS rate of $359 per night at the Sofitel Washington D.C. Register at RIMS.org/advocacy. [40:30] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [40:58] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [41:17] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [41:34] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [41:51] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [42:05] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [42:17] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation | Spencer Day — Feb. 23, 2026 RIMS Legislative Summit — March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Newsroom: Manny Padilla Named 2026 President of RIMS RIMS Leadership Corner: Polycrisis Meets Polysolutions RIMS Compensation Survey 2025 — Download Today RIMS Risk Management magazine | Contribute RIMS Now RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button RIMScast Canada — Debut Episode Now Live Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22, 2026 | June 9‒10 RIMS-CRMP-FED Exam Prep: Feb 17‒18 | Led by Joseph Mayo Full RIMS-CRMP Prep Course Schedule RIMS Virtual Workshop — "Facilitating Risk-Based Decision Making" | March 4‒5 | Register Now See the full calendar of RIMS Virtual Workshops Risk Foundations Certificate Program | Feb. 10 Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes" | March 12 | Sponsored by Global Risk Consultants RIMS.org/Webinars   Related RIMScast Episodes: "Spencer Day 2026 | The Future of Strategic Risk Management" "Risk Outlook '26 with Morgan O'Rourke and Hilary Tuttle" "James Lam on ERM, Strategy, and the Modern CRO"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Manny Padilla, RIMS President 2026 Vice President, Risk Management & Insurance, MacAndrews & Forbes Inc.   Production and engineering provided by Podfly.  

Featured GuestJay GatesManaging Director, Gallagher National Restaurant Practice20+ years in insurance, former Applebee's risk leader, RIMS committee member, and Kids Chance Nebraska board member.What We CoverJay's unexpected path into risk and insuranceLessons learned investigating EEOC claims early in his careerLeadership principles developed while managing large claims teamsBuilding a full ERM program for 165+ Applebee's locationsThe most surprising and severe claims in restaurant operationsHow Gallagher reduces the total cost of risk for restaurant clientsInnovative approaches including captives and proprietary analyticsUnderestimated risks: cyber breaches + product recallsThe growing impact of AI on restaurant ops and riskPrivacy + liability concerns tied to AI adoptionThe future of restaurant risk management over the next decadeKey TakeawaysRestaurant risks are broader than most expect. From contaminated produce to liquor liability fatalities, claims can escalate fast.Cyber and product recall coverages are essential, despite being commonly undervalued.AI will reshape restaurant risk—from customer service to operations tracking—creating both efficiencies and new exposures.Gallagher's differentiator is proactive service, deep data analysis, and tailoring insurance strategy to each client's risk tolerance.Risk leaders benefit from diverse career experiences, which Jay draws on daily.Resources & LinksLearn more about the Restaurant Risk Professional (RRP) certification:riskeducation.org/restaurant-RiskProExplore additional Alliance Insights episodes at riskeducation.org Focusing exclusively on risk management and insurance professional development, the Risk & Insurance Education Alliance provides a practical advantage at every career stage, positioning our participants and their clients for confidence and success.

Sleepy and Dosia are back with special guest Arlis and in this episode they discuss: 1:01 LeVeon Bell says 100 million is not enough money 9:58 Nicki Minaj, Jay-Z, and the Epstein Files 20:40 Kawhi Leonard All Star selection and where does Giannis go? 38:48 NFL Super Bowl preview and Belichick not a 1st Ballot Hall of Fame coach? 46:34 Don Lemon Arrest and Journalism 49:14 2026 Grammy Awards 54:37 What If Drake dissed Kobe what would Dosia do? 1:04:56 Black History Unsung Heroes Brand new voicemail: ‪(314) 649-3113‬ Email the show at straightolc@gmail.com or justposted1906@gmail.com    Join The Just Posted Facebook group https://shorturl.at/XvCmF  Follow Just Posted on Instagram @justpostedpodcast  Hit the Voicemail at 641-715-3900 Ext. 769558 Follow SOLC Network online Instagram: https://bit.ly/39VL542                            Twitter: https://bit.ly/39aL395                             Facebook: https://bit.ly/3sQn7je                    To Listen to the podcast Podbean https://bit.ly/3t7SDJH                        YouTube http://bit.ly/3ouZqJU                        Spotify http://spoti.fi/3pwZZnJ                        Apple http://apple.co/39rwjD1                                            IHeartRadio http://ihr.fm/2L0A2y1 

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Megan Miller, the CEO of the Spencer Educational Foundation, and John Button, ERM strategist and RIMS-CRMP Workshop instructor. The episode is divided into two interviews. Justin and Megan review the Spencer activities coming up around RISKWORLD 2026 and later, with a focus on driving students into insurance and risk careers and on providing risk scholarships to build the industry. Justin and John focus on John's ERM and risk philosophies and the key skills and knowledge the next wave of risk practitioners will need as risk management moves into strategic risk modes. They discuss the RIMS-CRMP virtual workshops that John teaches, and James Lam's RIMS-CRO Certificate Program in Advanced Enterprise Risk Management, which John endorses. They talk about RISKWORLD 2026, which is coming up.   Listen for tips on inviting the next wave of students into the risk profession and preparing for upcoming trends in risk.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. We will be joined by Spencer Educational Foundation CEO, Megan Miller, and ERM strategist and RIMS-CRMP Workshop instructor, John Button. But first… [:47] RIMS Risk Foundations Certificate Program. This beginner program will guide you through the risk landscape and help evaluate the purpose, function, and process of risk management. On completion, you will receive a Digital Risk Foundation certificate and 24 RIMS CE credits. [1:07] Cohort Number One starts on February 10th and 11th, with "Fundamentals of Risk Management," and then, on February 25th, "Risk Taxonomy," followed by two on-demand courses. Register now because the next cohort will be held in August. A link is in the notes. [1:28] RIMS members always enjoy deep discounts on the virtual workshops. [1:32] Webinars The next RIMS webinar will celebrate Women's History Month by exploring the success of women in construction risk on March 6th. We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:45] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. Visit RIMS.org/webinars and check out the link in this episode's show notes. [2:00] RISKWORLD General registration is open for RISKWORLD 2026, which will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. Visit RIMS.org/RISKWORLD or RIMS.org. Register today to take advantage of those sweet advance rates through the end of this month! [2:24] On with the Show! Returning to RIMScast is one of my favorite people, the CEO of the Spencer Educational Foundation, Megan Miller! Spencer Day is coming up on February 23rd. We want to hear all about what she has in store for us this month, and at RISKWORLD 2026. [2:50] Megan Miller will also present a special introduction for the "Hard Hats and High Stakes" Webinar on March 6th. Let's get to it! [3:08] Interview! Spencer Educational Foundation CEO Megan Miller, welcome back to RIMScast! [3:30] Megan says the Spencer Educational Foundation had a great year in 2025. They surpassed their goals. They're riding into 2026 on top of the wave. They are also starting Year 1 of implementing their next Five-Year Strategic Plan through 2030. [3:55] Megan says they have some big growth goals; they're hoping to raise $10 million a year by 2030. They ended last year at just over $4 million. [5:13] Spencer Day on February 23rd is held in conjunction with Insurance Careers Month. The Insurance Careers movement is to get students thinking about careers in insurance. [5:29] Holding Spencer Day during Insurance Careers Month raises awareness about what the Spencer Educational Foundation is doing to help drive more students into insurance careers. [5:36] The Spencer Educational Foundation tries to raise at least $7,500 from individual contributors that day to fund an additional scholarship. If they can raise $7,500, they can give out one more scholarship in 2026 and set one more person on the path to a career in risk. [6:18] At RISKWORLD, the Spencer Educational Foundation holds three events: Pickleball Social on Saturday, May 2nd, with sponsor Optum, the Gallagher Topgolf Golf Tournament on Sunday, May 3rd, and the 5K Fun Run on Tuesday, May 5th, with new sponsor Bold Penguin. [7:59] The 5K Fun Run will take place at Boathouse Row at 6:30 a.m. [8:57] The Spencer Soirée will be held on Monday, May 4th, at 5:30 p.m. It's Spencer's big donor appreciation event. At the Spencer Soirée, Spencer announces the winners of the International Student Risk Management Challenge that takes place all day on Sunday, behind closed doors. [9:16] On Monday morning, you'll have the opportunity to see the top three student teams present. Over 50 teams are competing. They submit their papers online, and the judges select the top eight teams to be flown to RISKWORLD. In 2025, half of the teams were international. [10:01] For some students, it was the first time they had ever been to the U.S. It's an incredible opportunity. In 2024, the team from Hyderabad, India, won. Justin had them as RIMScast guests. [10:20] The 2025 winning team was from the University of Wisconsin-Madison. [10:32] At the RISKWORLD conference, the top eight teams present behind closed doors on Sunday, and the judges select the top three. On Monday, those presentations are open to the public. It's impressive to hear the students talking through their cases. Come and watch! [10:53] On Monday, at the Spencer Soirée donor appreciation event, the first, second, and third place winners are announced, with cash prizes. It's a big audience, and the students answer the judges' questions. Megan says that the students are poised and super bright. [12:08] The 2026 Spencer Funding Their Future Gala will be held on Thursday, September 17th, back at the Waldorf Astoria, which was recently reopened after extensive renovations. Megan says it's stunning. [13:30] There are two honorees for the gala, Sierra Signorelli from Zurich, and Marya Propis from RT Specialty. Marya was one of the earliest RIMScast guests. She has been heavily involved in Spencer. [13:51] Megan says Zurich has been a strong partner of the Spencer Educational Foundation for a very long time. Sierra has taken on an expanded role at Zurich. [14:09] Marya is the former board chair who hired Megan within the Spencer organization. [14:35] For more information about the Funding Their Future Gala, listeners can reach out to Megan Miller or Brianne Kelly-Prensa at the Spencer Educational Foundation. [15:00] Megan mentions some of the new names at the Spencer Educational Foundation. Brianne Kelly-Prensa is the new Development Manager, helping Megan with fundraising and finding new partnerships. Amisha Kitani is the new Program Administrator. [15:31] Amisha was an intern at LVMH through Spencer's internship grant program. [16:10] Megan was a Spencer scholarship recipient. While she was at Swiss Re, she received a Spencer scholarship for the part-time Master's program. Spencer was very instrumental in helping Megan complete her MBA. [16:37] Spencer also has two board members who are Spencer scholarshop recipients: Robin Roeder and Cristina Vigilante. As Spencer grows and impacts more students, he loves to see them come back into the fold. [17:13] Justin shares details about the presenters of the RIMS webinar on March 6th, "Hard Hats and High Stakes: Women Leaders Shaping Construction Risk Management," including a special introduction by Megan Miller. Megan is excited about it. [19:01] The webinar is not only in honor of Women's History Month but also in advance of Construction Safety Awareness Week in May. Justin says this important sector deserves the spotlight. [19:39] If you have any questions for Megan, find her at SpencerEd.org. Justin tells Megan, it is such a pleasure to see you again. [19:56] Our next interview features John Button, CRMP, an Enterprise Strategic and Technology Risk Strategist for American Systems and an Instructor for the UCLA Extension Business School, specifically for implementing their Enterprise Risk Management course. [20:24] John Button is one of the instructors for the RIMS-CRMP Virtual Workshop Series. John will be leading the March 10th and 11th Workshop, and the June 9th and 10th Workshop. [20:39] We are going to get a glimpse into his risk perspective and philosophy. We're going to talk about strategic risk management and where he believes ERM is headed in the short and long term. Let's get to it! [20:52] Interview! RIMS-CRMP Commissioner John Button, welcome to RIMScast! [21:10] John heard about the RIMS-CRMP from other practitioners who were getting certified. John worked with Joseph Mayo on a couple of his books, the latest being Cultural Calamity. Joseph suggested the RIMS-CRMP to John. John looked into it. [21:41] John fell in love with the RIMS-CRMP, as it is a foundational risk management certification. [21:52] Justin adds that John Mayo was the first RIMS-CRMP Story. John says the RIMS-CRMP has been a pretty exclusive club, but it's spreading quickly around the globe, and once you've gotten it, you start to see who else has it. [23:16] Justin asks about strategic risk management. John says when he was studying for the RIMS-CRMP, he was well aware of strategic risk management, and he had been an enterprise risk management advisor at Gartner, but it wasn't practiced as much then as we see it today. [23:45] While studying for the RIMS-CRMP, John learned of the RIMS Strategic Risk Management Framework. He thinks it is one of the clearest ways of thinking about strategic risk management. It started connecting the dots for him about the value chain and benchmarking. [24:21] John says there's been an evolution in business from hazard risk to operational risk to strategic risk, and the real value is within strategic risk management. With strategic risk, what we focus on is largely the business model or foundational assumptions of the organization. [25:22] It will involve your customers, your financial model, your capabilities, and your value proposition. Strategic management deals with deciding the direction of a company, where you are trying to go, and the business model for how you are going to achieve success. [25:48] John says strategic is fundamentally different from operational, which may involve the execution of parts of the strategy, keeping the lights on, and running the business. [26:21] John says the most important skills for future risk leaders are to understand the decision science and analysis component of measuring uncertainty. That involves a basic understanding of statistics, probability theory, and the psychology of biases. That's critical. [27:23] John tells of helping develop risk quantification courses for RIMS for risk managers to learn how to measure and communicate risk in economic terms, for leaders in an organization. That skill set will differentiate risk practitioners in companies in achieving goals and objectives. [28:18] The people in an organization doing the work of mitigating the risk are often labeled as owning the risk. John says a risk is an uncertainty that will negatively impact an objective. Whose objective is threatened by the risk? Knowing that, you can build the accountability bridge. [29:58] John says when the ownership of risk is not known, most executive decision-makers use System One, instinctive thinking. System Two thinking requires deliberation and problem-solving. When a risk owner is identified, executives switch to System Two thinking. [31:37] Accountability is a by-product of risk owner identification. [32:09] Quantitative risk analysis allows you to accurately and mathematically measure risk. You can't count risk with ordinal scales that only tell you the order of things. When you measure risk quantitatively or statistically, you can accurately forecast the financial impact of an event. [33:51] That forecast enables executives to make more informed decisions. You can add risks in a mathematically coherent way. You can see how risks hang together for the organization. [35:12] John says a good risk culture is an organization that practices what it preaches. John would expect to see incentives built into measuring performance. It's not just whether you met your goals and objectives, but also whether you followed good risk management practices. [36:38] John says a lot of organizations speak to it, but what they say and what they do are often two separate things. [37:13] There's a big push right now for using more quantitative tools and skills for doing risk management. Risk management is more than quantitative measurement or decision analysis. John sees mistakes from companies looking only at the short term. [37:57] If you do risk management well, with a solid risk culture, there is always the possibility or probability of failure. Any company, even with great risk management, can be susceptible to systemic risk and big surprises. Having a good risk culture lowers the probability of failure. [38:47] John says they touch on risk culture during the RIMS-CRMP Workshops. It's about trying to develop a programmatic and systematic approach to risk that is consistent, coherent, and serves as the foundation for further growth. It's the beginning of the journey, not the end of it. [39:30] John discusses flipping the script from uncertainty to opportunity. He notes that risk managers often focus on compliance, which was great in the past. The future, with its move toward strategic risk management, will need far more than risk event forecasts. [41:03] John believes the next phase will come from using your imagination, in collaboration with AI, to see beyond the five-year strategy timeframe, to develop hypotheses and a different kind of forecast about where trends, drivers, and conditions will show up in the risk landscape. [41:56] John thinks risk management will move outside of the organization. The next wave of practitioners will be equipped quantitatively, helped by AI, and will help to steer strategy and the strategic direction of business models to find the opportunities for innovation. [42:27] Justin says this has been such an enlightening conversation and mentions that John will be leading the virtual workshops for RIMS-CRMP on March 10th and 11th and June 9th and 10th. What is John Button's instruction style? [42:53] John enjoys teaching. He's currently teaching Implementing Enterprise Risk Management at UCLA. What's important to him is making sure people are crystal-clear, understand the foundation, and can analyze the concept. [43:19] John reduces most challenges in risk management to communication. What one person means by cyberrisk may not be what somebody else means. He makes sure those he is teaching feel confident when they walk away, ready to go. His teaching style is thorough. [43:59] John always stays back after the webinar to answer questions. Some people contact him later with questions, and he's more than happy to help them. [44:18] Justin mentions the RIMS-CRO Certificate Program in Advanced Enterprise Risk Management, hosted by James Lam. John introduced himself to James Lam at the FAIR Conference 2022, after reading his book. John took the RIMS-CRO Certificate Program. [45:07] John says they worked live for about four hours every other week for six sessions, with each module building on the previous one. The next cohort will begin in April. Registration closes on April 6th. That course will run biweekly from April 14th to June 23rd, 2026. [45:55] Check out RIMS's social channels to see a testimonial from John talking about the course. It was extremely beneficial for him and for the others who shared their perspectives on it. [46:40] John will be at RISKWORLD 2026. Last year was his first RISKWORLD, and having attended a lot of business conferences, he shares that he was blown away by how awesome RISKWORLD is. John invites you to reach out to him if you go, and he'll be happy to talk to you. [47:15] Special thanks to both of our guests, Megan Miller, the CEO of the Spencer Educational Foundation, and John Button, one of our valued RIMS-CRMP Commissioners and virtual workshop instructors. [47:29] Links to SpencerEd.org and to John's upcoming virtual workshops for the RIMS-CRMP Exam Prep are in this episode's show notes. Register now, and let them know how great they sounded on RIMScast in February 2026! [47:46] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [48:15] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [48:33] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [48:50] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [49:07] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [49:21] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [49:33] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! Spencer Educational Foundation | Spencer Day — Feb. 23, 2026 RIMS Legislative Summit — March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RIMS Risk Management magazine | Contribute RIMS Now RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS-CRMP Story, featuring John Button Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22, 2026 | June 9‒10, Virtual Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Applying and Integrating ERM" | Feb 4. Risk Foundations Certificate Program | Feb. 10 "Facilitating Risk-Based Decision Making" | March 4‒5 Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS RIMS.org/Webinars   Related RIMScast Episodes: "Risk Decision-making in 2026 with Joseph A. Milan, Ph.D." "The Evolving Role of the Risk Analyst" "Risk Rotation with Lori Flaherty and Bill Coller of Paychex" "Energizing ERM with Kellee Ann Richards-St. Clair"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Megan Miller, CEO, Spencer Educational Foundation John Button, RIMS-CRMP, Enterprise, Strategic & Technology Risk Strategist, American Systems   Production and engineering provided by Podfly.  

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Susan Hiteshew about her career path, from long-time risk manager to broker, and how her foundation in risk provides her with corporate empathy and understanding of her clients. They cover key principles Susan learned on the way, how she intentionally made a change, and how her risk philosophy helps her as a broker. Susan shares points from her risk philosophy and the benefits she realized from the RIMS-CRMP, as well as from serving on the National RIMS Board.   Listen for key factors in a great trisk management team.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. We will be joined by Susan Hiteshew, a long-time risk professional, to discuss how she successfully transitioned over to the broker side. We will also get her ERM philosophy and how it still guides her to this day. But first… [:47] RIMS-CRMP and Some Prep Courses. The next virtual prep courses will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:04] RIMS Virtual Workshops are coming up. On February 2nd and 3rd, Pat Saporito will host the debut of the two-day course, "Storytelling with Data for Risk Management". [1:18] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:28] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:39] RIMS members always enjoy deep discounts on the virtual workshops. [1:43] The next RIMS Webinar will celebrate Women's History Month by exploring "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" on March 6th. [1:53] We'll be joined by a Chief Risk Officer, an underwriter, and a broker, who will explore their career paths and risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [2:08] Visit RIMS.org/webinars and check out the link in this episode's show notes. [2:12] On with the show! Our guest today is the Managing Director and Office Head for Marsh's Washington, D.C. Office. Before accepting that role, she had 16 years of experience in risk management. She was one of the first RIMS-CRMP certificate holders. She's Susan Hiteshew. [2:35] We're going to talk about her career and why she decided to make a transition over to the broker side with Marsh. We'll also talk about her ERM philosophy and how it continues to guide her to this day. [2:47] We will also talk about strategy and the concept of professional empathy. Let's get to it… [2:54] Interview! Susan Hiteshew, welcome to RIMScast! [3:34] Susan can't imagine a better way to start 2026 than getting to be here on RIMScast with Justin! [4:00] For years, Susan was a corporate risk manager. Most recently, she was the VP of Risk at a real estate investment trust. Before that, she was Senior Director of Insurance at a major hotel brand and had filled other risk roles. [4:25] Susan says that before she got started as a risk manager, she began her career in claims. She worked in a specialized unit on the carrier side, analyzing legacy claims for coverage. They printed policies, read them, and manually wrote claims notes on them. [4:57] Susan says it was a great way to learn the coverages and understand the underwriting intent of the policies. That foundation taught her that insurance is technically complex and that there's a policyholder on the other end who will be getting your coverage letter in the mail. [5:19] Susan says insurance is a people business, even though it is very much a technical business. It's a form of strategic finance. [5:28] Susan learned as a risk manager the value in building that downside protection for your company and creating predictability in your cost of risk so that your business can operate with confident margins. [5:44] As a risk manager, Susan implemented that approach into how she thought about ERM. She thinks the most successful ERM programs are very collaborative across different business units and are built upon the spirit that everyone's a risk manager. [6:05] Risk is something we all own for our company. Susan's focus was always on supporting her executive team and board, and giving them information in clear, cogent, and actionable ways. [6:24] Susan speaks of frameworks. Risk and strategy are two sides of the same coin. Some risks are quantifiable and insurable; some risks are not. [6:36] Enterprise risk management is about understanding all risks, creating awareness around them, and mobilizing your company to focus on those risks in every part of your organization, at every level. Susan finds value in both ISO and COSO. She leans more toward COSO. [7:19] ERM was different at every company Susan worked with, tailored to the company and the business. It was collaborative. So much of enterprise risk management is taking who you are as a company, where you're trying to go, and building a framework that makes the most sense. [8:11] Susan was a risk manager for about 16 years. [8:20] Susan had reached the point where she wanted to broaden her impact across the board. Every time she made a change in her career, it was because she wanted to try something new and learn something different. [9:09] The timing felt right. She had had a lot of different in-house experiences, so she could sit across from a client and say she had been in their seat and knows what they are thinking through from an insurance perspective, and she can help them solve their issues. [9:32] At different companies, a risk manager does different things. Susan had had different areas of responsibility in insurance, claims, captive management, and enterprise risk management. What she loved the most was the insurance side. [10:05] Susan asked herself, wouldn't it be great if she could do what she loved most, all the time, for lots of clients? She loves that in her role now, leading the D.C. office for Marsh, she gets to help lots of clients with lots of different problems. She loves supporting risk managers. [10:44] Susan says the reason that she's been able to do what she's done in her career is because of support from others in the industry. She's having a lot of fun, working on helping clients with interesting problems. She thinks professional empathy helps her support clients. [11:23] Quick Break! The RIMS CRO Certificate Program in Advanced Enterprise Risk Management is RIMS' live virtual program, led by James Lam. Great News! A brand new cohort has been announced. Registration closes on April 6th. [11:44] Beginning on April 14th, bi-weekly workshops will be held from 11:00 a.m. to 3:00 p.m. Eastern Time through June 23rd. Register now! A link is also in this episode's show notes. [11:57] Save the dates, March 18th and 19th, 2026, for the RIMS Legislative Summit, which will be held in Washington, D.C. Join us for two days of Congressional Meetings, networking, and advocating on behalf of the risk management community. [12:13] Visit RIMS.org/advocacy for more information and updates and to register. [12:21] Let's Return to Our Interview with Susan Hiteshew! [13:08] Susan says that where her background is most helpful is in her claims foundation. It trained her to interpret coverage, to understand the intent of policy language, and to understand all that goes into resolving complex claims. [13:24] As a risk manager, Susan learned what Accounting needs, what Finance needs, and what a CFO needs when something "has gone bump in the night" and there's a significant claim issue. [13:37] Susan can tie all that together to support a risk manager and say, "You might want to have a conversation with Accounting about this. What do you have budgeted for this? Let's have a conversation with Finance about this. Is Legal involved? Do we have clarity on Operations?" [13:55] Susan's years in-house taught her how to pull all of those different components of the organization together. A good risk manager knows and works with everybody in their company. There are many internal and external stakeholders.  [14:19] Susan helps risk managers navigate tough situations and know whom to talk to before needing to get in front of them, to bring a tough situation to a good resolution, with everybody being aware and having the opportunity to give input to bring the situation to a close. [14:41] Justin notes that the risk manager needs to be the point guard for the organization. Susan agrees. She coaches her daughter's basketball team. [15:20] Susan notes that risk managers save the company money, but in most cases, they don't generate income, so it's important to run an efficient risk management team with the resources to work with and support everybody in the company. The team size differs for every business. [16:19] Susan has loved every stop along the way in her career. Each one has been different. She has worked with amazing people. She looked for work where she would be professionally challenged, learn a lot, and work with awesome people she can learn from at every level. [17:06] When Susan was ready to try being on the broker side, she was very intentional about it. She is so grateful for her choice. She has absolutely loved this transition. [17:23] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. Booth sales are open now! [17:45] General registration and speaker registration are also open right now! Marketplace and Hospitality badges will be available starting on March 3rd. Links are in this episode's show notes. Be sure to check out RIMS.org for more information. [18:01] Let's Return to Our Interview with Susan Hiteshew! [18:22] Susan joined RIMS in 2011. She attended RISKWORLD in Philadelphia and is excited that RISKWORLD is back in Philadelphia this year, from May 3rd through 6th. There is a lot to do in Philadelphia, and it's very convenient for East Coast members. [19:07] Susan says it's awesome to have RIMS-CRMP as part of her title. It's a designation that means something. It's tied to helping a risk manager get to the next level of connecting the risk and strategy for their organization. [19:32] Susan took the RIMS-CRMP in the first group, in San Diego, in 2016. She was so excited to get the certification. Having the RIMS-CRMP and being active in RIMS gave her a wider lens on the profession than just seeing risk through the lens of one industry or company. [20:14] RIMS exposed Susan to a much broader network and helped her build her professional network.  [20:34] Susan says the RIMS-CRM shows you keep up with all the CEs every two years. [20:51] Susan says serving on the National RIMS Board and as the Board liaison for the Audit Committee in the past was an incredible experience. It put her at the intersection of governance, oversight, and strategic risk thinking. She saw how the Board evaluates controls. [21:19] When Susan was on the Board, they had outside counsel come in and give several different board trainings on governance and how to be good supporters and board members, and understand how to do their job effectively. [21:34] Working in that capacity helped Susan to sharpen her appreciation for transparency and disciplined communication, which were skills she was able to bring back to her role as a risk manager and other work she does. [21:50] Susan serves on an advisory board for her daughter's school and on the board of a privately-held real estate firm in D.C. Being on the RIMS Board taught her about how to be a good advisor for the executive team. [22:35] Susan says it's interesting to look at how the risk environment has changed. Marsh published the "World Economic Forum Global Risk Report" at the end of 2025. It talks about how risks are managed across the world by business executives, experts, and academics. [23:01] Susan says it's interesting to see what risks they call out and how the risks change from one year to the next. The report is a fascinating read for people who are looking at external risks and how they might impact their company. [23:16] Susan says the risk environment is incredibly dynamic. There are risks in the Risk Report that weren't there two years ago that are now in the top five risks. [23:30] Susan believes Enterprise Risk Management is strategic, not administrative. Leaders need dynamic, real-time insights to help them connect risk directly to their business outcomes. [23:45] Susan says tools and analytics are being used to help break down historically uninsurable risks into parts that can be actionable and solvable. [24:15] Susan says expectations for talent are changing. We need risk professionals who can interpret analytics, communicate clearly, and help support executive decision-making processes. The connection between risk and strategy is becoming more imperative. [25:10] How you identify your risks and communicate a message around your risks is going to be what matters and sets risk managers apart. You can have a policy and a process around managing a risk, but people at every level of a company need to internalize it. [25:33] Susan says you need a level of validation and ownership. It has to be instilled into the corporate culture. That starts with empathy, connection, and keeping things real for folks. That will be the ultimate driver of success. [26:04] Justin and Susan agree that risk management is a people business. It's about making things real for folks. [26:22] When Susan worked as a risk manager for a major retailer with warehouses, she spent time in the warehouse, working at every station, so she understood the jobs that everyone was doing. [26:38] She could see for herself how a workers' compensation injury happens. How are we getting these soft tissue issues? What do we need to do about them? [26:50] Learning from the people who are doing it every day, you learn things you would never pick up, otherwise. You can tailor your training programs, business processes, and the real risk management work to the people who need it, whom you are helping keep safe. [27:46] Susan's biggest piece of advice is to reframe the role. Risk management's role isn't reporting on risk; it's enabling competent business processes and competent decision-making. Speaking the language of strategy, and not just severity and probability, is very impactful. [28:11] Susan says building relationships before you need them and infusing risk management into the culture of the company helps a business build a competent risk management approach at every level within the organization. [28:30] Risk managers are really good at identifying issues and stumbling blocks, but offering options and solutions is where there is true value. Thinking about how we support our executives and leadership team is a key part of being a great risk manager. [28:49] Our executives have several things coming at them, all day, every day. They've got to make decisions and move expediently. [28:58] The more we can distill complicated risk issues into a straightforward framework, the more executives can confidently move forward on specific risk decisions. That is incredibly valuable. [29:20] Susan says that from both the practitioner and the advisory perspective, when you're a risk manager and you position yourself as a strategic partner, you can be relied upon, not only to help protect the organization but also to help accelerate its success. [29:40] Susan learned from a former boss to ask during ERM analyses, "Why do expensive race cars have very expensive brakes? It's not so you can stop, but so you can go fast confidently." A great risk management program helps enable speed, confidence, and resilience.  [30:34] Susan says that's what she loves about the value that risk managers bring to the table. [30:56] Susan, you've been such a wonderful guest. You've been so giving with your perspective. Also, where are you going to be from May 3rd through the 6th, 2026? She'll be at RISKWORLD 2026 in Philly! It will be a great time, seeing all her RIMS friends! [31:23] Some of Susan's favorite things about her profession are the friendships she created through RIMS. [31:27] At RISKWORLD 2026, May 3rd through 6th in Philadelphia, you will Connect, Cultivate, and Collaborate! I can't wait to get the chance to finally meet you in person! [31:38] Anybody who wants to learn a little more about Susan can check out her RIMS-CRMP Stories. It's one of the first ones. Susan is also on LinkedIn. Susan would love it if you reached out with a question for her, either on LinkedIn or RIMS Engage. [32:05] Special thanks again to Susan Hiteshew for joining us here on RIMScast. I've got a link to her RIMS-CRMP Stories interview, which will hopefully inspire you to sign up for and study for the RIMS-CRMP exam. [32:21] The link is in this episode's show notes. You can also check out RIMS.org/certifications. [32:27] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [32:54] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [33:12] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [33:29] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [33:45] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [33:59] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [34:10] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! RIMS Legislative Summit — March 18‒19, 2026 on Capitol Hill, Washington, D.C. | Register now! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management magazine | Contribute RIMS Now Spencer Educational Foundation Scholarships | Submission Deadline Jan. 31, 2026 RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! Susan Hiteshew's RIMS-CRMP Story: The Value of Being 'In The Club' Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep March 10‒11 | April 21‒22, 2026, 9:00 am‒4:00 pm EST, Virtual Full RIMS-CRMP Prep Course ScheduleSee the full calendar of RIMS Virtual Workshops "Storytelling with Data for Risk Management" | Feb. 2‒3 "Applying and Integrating ERM" | Feb 4. "Facilitating Risk-Based Decision Making" | March 4‒5 Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS RIMS.org/Webinars   Related RIMScast Episodes: "Risk Decision-making in 2026 with Joseph A. Milan, Ph.D." "The Evolving Role of the Risk Analyst" "Risk Rotation with Lori Flaherty and Bill Coller of Paychex" "Energizing ERM with Kellee Ann Richards-St. Clair"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Susan Hiteshew, Managing Director | Office Head, Washington D.C., Corporate Regional Team Leader, Marsh   Production and engineering provided by Podfly.  

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Rich Lenkov, Founder and CEO of SERMA, about the unique aspects of risk management in sports and entertainment, such as stadium security and crowd safety for a big game or event. They look at what SERMA offers to risk professionals in sports and entertainment. Rich speaks of cross-disciplinary collaboration and the specialized content offered by SERMA. Rich shares his thoughts about the Day of the Endangered Lawyer and the importance of the Constitution and international law.   Listen for tips on sports and entertainment risk management.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. Our guest is Rich Lenkov, the Founder and CEO of SERMA, the Sports and Entertainment Risk Management Alliance. [:43] We will talk about all things sports and entertainment risk-related and get his play-by-play on what it takes to succeed in sports and entertainment risk. But first… [:54] RIMS-CRMP and Some Prep Courses. The next virtual prep courses will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On February 2nd and 3rd, Pat Saporito will host the debut of the two-day course, "Storytelling with Data for Risk Management". [1:26] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:35] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:47] RIMS members always enjoy deep discounts on the virtual workshops. [1:51] The next RIMS Webinar will celebrate Women's History Month by exploring "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" on March 6th. [2:00] We'll be joined by a Chief Risk Officer, an underwriter, and a broker, who will explore their career paths and risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. Check out the link in this episode's show notes. [2:23] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:36] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:52] On with the show! Our guest today is Rich Lenkov, Founder and CEO of SERMA, the Sports and Entertainment Risk Management Alliance. Rich is a lawyer by trade, but he is vested in the success of risk management, particularly against the backdrop of sports and entertainment. [3:13] With all the developments, regulations, or lack thereof, Rich has got a lot to say. We'll have a volley of ideas about sports risk management, active shooter preparedness at a stadium, name, image, and likeness rights for college athletes, and other topics. [3:41] Rich is also the host of SERMA's SERMAPod, so it's nice to have a podcasting brother on the show. Let's get to it… [3:49] Interview! Rich Lenkov, welcome to RIMScast! [4:07] Rich tells about hosting the SERMAPod. About 11 years ago, Chicago radio station WGN approached him to do a legal podcast for them, Legal Face-Off. About five years ago, SERMA started the SERMAPod. It's been a lot of fun! This is SERMA's fifth year, too. [4:50] Rich is a Capital Member of Downey & Lenkov. He's a full-time lawyer. This is Rich's 30th year in practice, having started in 1996. [5:16] Downey & Lenkov began in 2001. Rich has been with the firm since 2002. A Midwest-based law firm, Downey & Lenkov primarily handles insurance defense in Illinois, Indiana, and Wisconsin. [5:29] Downey & Lenkov does insurance defense in all its forms, from sports and entertainment law to premises liability, workers' compensation, employment, construction, products, and anything like that. They also do some transactional work and some professional liability. [5:47] That's Rich's day job. They're busy and have lots of clients. There's too much work, and not enough lawyers to do it! Rich says that servicing his clients is really rewarding. [6:07] Rich also has a production company. With that background and having worked in sports and entertainment law, he realized that there were not a lot of resources devoted to sports and entertainment risk management. [6:43] In discussing these issues with clients and colleagues, Rich saw a hole in the market for someone to provide content, networking, resources, and information-sharing. So he thought, why not? That's how SERMA got started. [7:01] Justin gives a shoutout to Emily Buckley, a member of both RIMS and SERMA. SERMA hosted a wonderful event at the RIMS ERM Conference 2025 in Seattle, and Emily invited Justin. [7:41] Rich has been a RIMS member, strong advocate, and supporter for almost his whole career. He finds it to be an incredible resource for knowledge and networking. He says the regional and national events are second to none. Lots of SERMA members are RIMS members. [8:03] Early on, SERMA decided to partner with groups like RIMS and local RIMS chapters. As the new kids on the block, SERMA is indebted to RIMS for inviting them to host events with them. [8:49] Rich says that a lot of the risks in sports and entertainment relate to high-profile companies, teams, leagues, and studios. The whole world is watching. When there's a tragedy or a weather event at a sporting event, it's not limited to the grounds. [9:17] There is a lot of scrutiny. Laws are involved, or legislation is produced. These are frequently ground-breaking losses for high-profile brands. Brand protection is important. Some of the biggest companies on the planet are very concerned about how their brand is perceived. [9:39] Rich says, the types of risks and claims are different from "garden-variety" hospitality or construction claims. You're dealing with unique circumstances. How do you extricate actors from the jungles of Costa Rica in a weather event? How do you protect the Super Bowl? [10:03] Those are not things that risk managers deal with every day. They are unique, specialized risks. Rich says he's learning new things every time SERMA provides content that's not seen anywhere else. [10:17] Justin adds that the teams and athletes themselves are some of the most recognizable brands in history, such as Michael Jordan. [10:32] Rich says  SERMA members deal with high-profile claims and risks. SERMA has done lots of content on handling workers' compensation claims from players. A lot of high-profile athletes, making a lot of money, are also pursuing workers' compensation claims. [10:58] Workers' compensation for highly-paid athletes is very expensive. All the teams are very attuned to what they are spending on workers' compensation. [11:11] SERMA brings together lawyers, risk managers, insurers, claims professionals, vendors, outside counsel, and other vendors who support the industry. At the end of 2025, SERMA had around 700 members with a ratio between industry professionals and vendors of seven to one. [11:41] Rich says SERMA consciously makes its environment one where risk managers, claims managers, and general counsel can meet and share resources in a relatively confidential way. [12:02] SERMA is not a space with a lot of salesmanship, but networking is encouraged. SERMA wants everyone to develop relationships. SERMA's priority is to have great, cutting-edge content, rather than just selling products. [12:43] Rich believes cross-disciplinary collaboration is important. We learn from each other. When Rich handles a sports or entertainment claim, he sees it from his perspective; he doesn't know what it's like to have boots on the ground at a venue when they are securing a big event. [13:12] It's important to collaborate with people who handle safety and security. When Rich speaks as an attorney to these folks, they have no idea what effect their initial investigation of a claim will have on discovery or if they go to trial. You have to learn from each other. [13:35] Rich finds that collaboration with risk professionals has been great. SERMA's risk professionals bring a unique perspective to the table. [13:52] A risk manager for a team or venue has to cover everything. A whole world of claims happens on any given sporting event. So much goes on behind the scenes that impacts the risks that the risk manager has to deal with. [14:09] Rich took his son to a Bears game over the weekend; they enjoyed it and went home. The risk manager, for weeks and months before, was dealing with everything from security to food preparation, active shooter drills, player injuries, and claims. [14:29] There is so much that any given game brings on a risk manager. The risk manager starts all over again the next day. It's a challenging environment. Rich says most risk managers would tell you that their jobs are really rewarding. [14:59] Rich was talking to the risk manager for the Boston Celtics. He gets to watch the Celtics every day. Sports risk management is difficult, it's challenging, but it's also a lot of fun. You get to be in spaces that most of us can only dream of. [15:14] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. Booth sales are open now! [15:36] General registration and speaker registration are also open right now! Marketplace and Hospitality badges will be available starting on March 3rd. Links are in this episode's show notes. [15:51] Let's Return to Our Interview with SERMA CEO Rich Lenkov! [16:11] Rich says that between operations and the risk team, there is sometimes a lack of communication. Programs that are running well have good communication between operations and the risk team. [16:28] The people running security and game day operations have serious jobs with lots involved. They might not be thinking of some of the things the risk manager thinks about. [16:42] As people see the effects of proper planning and enterprise risk management, they are training the people on the ground to react as quickly as possible and employ many preventive measures to avoid issues in the first place. [17:47] Rich says trending and current topics drive SERMA. SERMA wants to provide content you can't get anywhere else. This space evolves every day. Wherever you get your news, you'll see issues involving sports, entertainment, the law, and risk, almost every day. [18:24] SERMA tries to be a provider of cutting-edge content, as well as a good basis of content that applies to lots of areas in sports and entertainment risk. SERMA decided from the beginning not to be a provider of content and resources for everyone. [18:52] Rich says some of SERMA's webinars only attract a small group of people. SERMA did a webinar on roller skating risk. That's not for everyone, but it's important to a lot of SERMA's members. It's not something you'll see anywhere else. It's very specific, cutting-edge content. [19:13] Justin hosts webinars for RIMS. Some attract a wider audience than others. Quality is prized over quantity. Some webinars that are not as well-attended are information-rich. Some are very exciting to learn about. [19:41] Rich says SERMA was very conscious from the beginning to be a different organization. SERMA is not looking for volume of membership or content. It's looking for quality. SERMAnar in New York, SERMA's tentpole event, is capped at 150 people. In LA last year, it sold out quickly. [20:05] SERMA wants people to leave events feeling that they went to an intimate gathering and met two or three good connections. That's a good use of time. SERMA wants to be a quality content provider. [20:33] SERMAnar IV is The Sports and Entertainment Risk Conference, coming up on April 16th and 17th at Citi Field in New York City. The agenda is packed. [20:47] There are six panels in a day and a half, with lots of great content covering everything from IP issues to how to break into sports and entertainment risk management. There is a general counsel forum. There's a lot of great content. Citi Field is a beautiful place. [21:59] A Final Break! The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved, in part, by its collaboration with risk management and insurance educators across the U.S. and Canada. [22:19] Spencer awards undergraduate, graduate, Ph.D., and Pre-Instructor of Practice Scholarships to students enrolled at an accredited college or university in the U.S. and Canada, and physically studying in either location. No remote coursework eligibility from other locations. [22:36] Including part-time, graduate scholarships to risk management and insurance professionals continuing their education. [22:41] Since 1980, Spencer has invested more than $11.1 million in the scholarship program with awards to over 1,700 students. More than 85% of Spencer's scholarship recipients remain in the industry to this day. [22:57] They've got undergraduate scholarships, full-time Master's scholarships, part-time Master's scholarships, pre-dissertation Ph.D. candidates, doctoral candidates, and Pre-Instructor of Practice Scholarships all open now. The application deadline is January 31st, 2026. [23:18] Visit SpencerEd.org/scholarships. You'll find the different application buttons. See the link in this episode's show notes for more information. [23:30] Let's Return to the Conclusion of Our Interview with SERMA CEO Rich Lenkov!  [23:39] Justin asks about Name, Image, and Likeness (NIL) rights for college athletes, and the 2021 Supreme Court case NCAA v. Alston, that players in college have the right to earn from their NIL. They can be endorsed by a brand. [24:14] Rich says Alston was the key case that challenged NCAA rules on athlete compensation. The Supreme Court unanimously held that the NCAA's restrictions were unlawful under the Sherman Act. [24:34] It didn't directly address NIL, but it opened the floodgates. Rich comments on how we're seeing the effects of this every day. The Ole Miss quarterback just filed a lawsuit to have a seventh year of eligibility. For many of these players, it's more lucrative to stay in college.  [25:37] Rich says this affects women's college basketball and volleyball, as well. It's benefiting all college athletes and giving more agency to women college athletes. Libby Dunne does a sports clothing line. This is all tied to social media and influencing. [26:41] The Transfer Portal has given athletes the ability to have more of a hand in choosing their future and career. [27:08] Rich says a couple of weeks ago, a lot of major college coaches were bemoaning NIL. There's still no directive from the NCAA on this, in the fifth year. Major programs are complaining. There's room for more regulation. Universities are scrambling to catch up. [28:05] There's a lot of pending legislation. There hasn't been any movement on setting forth regulations we could all abide by that level the playing field. Some universities have a lot deeper pockets than others to deal with this. [28:31] Until there's legislation that makes this a little more equitable, you're going to have a lot of different applications of NIL. [28:42] Justin says January 24th is the Day of the Endangered Lawyer. It highlights the threats to the rule of law and legal independence and the physical safety of lawyers, judges, and legal professionals. [29:07] Rich says, Love Your Lawyer is another way of saying it. International law matters. On his Legal Face-off podcast, Rich discussed this recently with a professor on whether snatching a foreign leader and bringing him to justice in your country is lawful. [29:44] Rich says the adage that everybody hates their lawyer until they need one is true. Not only lawyers but good lawyers are in danger. [30:24] Rich's advice to lawyers is to stick with it. It's hard to stand up to some of the injustices and pressures you might face. The Constitution and international law will outlive most of us. They provide a compass to stick to what's right. [31:15] Rich offers advice on how to succeed in sports and entertainment risk. There is a panel at SERMAnar in New York on it. You have to hustle, network, and get to know people. [31:34] No one is going to knock on your door and give you a job in this incredibly competitive space. A lot of young lawyers want to go into sports and entertainment. You've got to hustle. There are lots of resources out there if you take the initiative. [31:50] Start wherever you can. Get your foot in the door with any sports or entertainment entity or law firm in sports and entertainment. After that, kick the door down and hustle. [32:18] Rich, it's been such a pleasure to record with you and to meet you. We've got the links to SERMA and The SERMA Pod in this episode's show notes. Hopefully, we'll have a chance to catch up at RISKWORLD. [32:51] Special thanks again to SERMA CEO Rich Lenkov for joining us here on RIMScast. A link to TheSERMA.org is in this episode's show notes. There you will also find information about the SERMAnar IV, which will be held on April 16th and 17th, 2026, at Citi Field in New York. [33:11] Be sure to check out The SERMA Pod, which is their podcast. I may be making an appearance there in the near future. [33:20] In this episode's show notes, there are links to prior RIMScast episodes featuring RIMS members who are active in sports and entertainment risk. Those episodes are a slam dunk! [33:33] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [34:00] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [34:18] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [34:35] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [34:50] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [35:04] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [35:15] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management magazine | Contribute RIMS Now Spencer Educational Foundation Scholarships | Submission Deadline Jan. 31, 2026 RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! SERMA | The SERMAPod | SERMAnar IV: The Sports & Entertainment Risk Conference Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep March 10‒11 | April 21‒22, 2026 9:00 am‒4:00 pm EST, Virtual Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Storytelling with Data for Risk Management" | Feb. 2‒3 "Applying and Integrating ERM" | Feb 4 "Facilitating Risk-Based Decision Making" | March 4‒5 Upcoming RIMS Webinars: "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" | March 6 | Presented by RIMS RIMS.org/Webinars   Related RIMScast Episodes: "ERM, Retail, and Risk with Jeff Strege" "Supply and Bike Chains with Emily Buckley" "Risk and Leadership Patterns with Super Bowl Champion Ryan Harris"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) 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RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Rich Lenkov, Founder and CEO of SERMA Capital Member of Downey & Lenkov LLC The SERMA Pod   Production and engineering provided by Podfly.  

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Deyna Feng, Director of Captive Programs at Cummins, about her role at the company. They discuss the reality of climate change risks and how Cummins uses captives to address them in the short- and long-term in the U.S. and 36 countries globally. They talk about the various facets of the company, from property to supply chain, to business continuity, to human resources, at risk from climate events. They discuss the variety of regulatory sustainability reporting requirements around the globe.   Listen for steps to take to use captives for your climate risk planning and strategy.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. Our topic today is the interconnection between captives and climate risk. To help me delve deeper into this connection, I've asked Deyna Feng of Cummins to rejoin us. It will be great to catch up with her! [:49] You're going to walk away from this episode with a lot of great ideas for your captive programs. But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:26] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:36] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:47] RIMS members always enjoy deep discounts on the virtual workshops. [1:57] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:10] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:24] On with the show! Deyna Feng is rejoining us for the first time since 2021. She is the Director of Captive Programs at Cummins. [2:38] Cummins designs, manufactures, distributes, and services a broad range of power solutions, from traditional diesel and natural gas engines to advanced electric, hybrid, and hydrogen fuel cell technologies. [2:50] Deyna is here to discuss how climate change has had a huge influence on how she manages captives for Cummins. We're also going to speak a little more broadly about the ways you might think about climate risk as you launch or alter your captive program. Let's get to it… [3:06] Interview! Deyna Feng, welcome back to RIMScast! [3:21] Deyna Feng has been working for Cummins for the past 15 years. She was always with the risk insurance team and, since 2015, she's managed the captive operations, the insurance programming inside it, and the whole insurance company. [3:52] Deyna started with Cummins as Regional Risk Manager for Asia Pacific. Then she joined the company to manage its captive. Deyna has been really passionate about this career path because captive is such a wonderful risk management and risk insurance tool. [4:08] Deyna says Cummins has been using its captive constantly and actively managing different types of risk and profiles. [4:34] A captive is an insurance company. Cummins's captive is a pure captive, or a single-parent captive, so it purely insures the parent company's risks and business. [4:44] The benefit of a captive insurance company is that, instead of buying insurance from the commercial market, you can really tailor your insurance program within a captive. [4:55] They also provide financial benefits like tax benefits and some other things you can manage through the captive. [5:03] For the past few years, it's been hard on the insurance market on the property and the liability side. Cummins uses its captive, proactively, managing the whole program in a really unique way. Everything is tailor-made to your own program, your own risk. [5:21] If you are a good risk management account, you will receive benefits by doing such a self-insurance arrangement. [5:38] Justin recalls from reporting that in 2025, there are hundreds more captives among medium and small businesses than there were 20 years ago. Feng agrees. It's a booming market for the whole captive industry. It's growing for all captive domiciles around the world. [6:01] Deyna and Justin believe that captives are a big part of the future of risk management. [6:09] Justin reconnected with Deyna because of her unique philosophy that climate change can greatly impact a captive and, therefore, a company. [6:38] Deyna thinks everyone is feeling the effects of climate change in the current environment. They see more things happening, more frequently, with more severity; events like wildfires, floods, and hurricanes. [6:53] Deyna says, Before, it's rarely showing anywhere, or a 500-year event, then suddenly, something happens. We experience such dramatic events in different facilities globally. So, we are thinking such events can escalate super quickly and become catastrophic. [7:17] Deyna asks how we can manage such events, especially when you are dealing with a large insurance program, and it involves a big business interruption to your global company. [7:29] Deyna thinks there is a growing concern for global companies like Cummins for a few important reasons. First, frequency and severity are rising. Also, it's less predictable in certain areas, and there will be increasing exposure for large, global facilities. [8:08] Deyna speaks of supply chains. For a large manufacturing company with a global footprint, it's important to manage supply chain risk in a better way. The climate risk is changing globally, so it will impact Cummins's supply chain risk to a large extent. [8:30] Deyna says it also increased the complexity of managing claims, like a hurricane claim. Hurricane Helena is our recent example. It happened over a year ago, but it impacted multiple locations in that area and also impacted Cummins's warehouses and logistics centers. [8:50] It impacted the whole business revenue and the whole area. So, it becomes a much more complex claim to manage and handle. Even now, Cummins is still dealing with the whole impact of that Hurricane Helena flood claim. [9:11] Justin asks about polycrisis and how one event triggers others that the captive manager has to oversee and try to resolve. [9:31] Deyna says, Cummins has suppliers in that area. If those suppliers don't have good insurance coverage, then Cummins helps them out, so they can help Cummins's local business. That impacts a lot. Cummins is still dealing with a business interruption claim from that event. [10:06] Deyna says one important area for climate risk management is dealing with government regulatory requirement reporting changes, not just in the U.S, but worldwide, with international reporting. [10:25] Certain countries are more advanced in regulation development. So, for those countries, Cummins has to make sure to do a proper evaluation and prepare for those government reporting requirements. [10:44] That involves a whole set of reviews from different lenses. To manage the risk more effectively and efficiently, Cummins needs to consider a few options. One is about data. [10:59] The whole risk management and risk insurance program is data-driven, so Cummins makes sure to gather important climate risk-related data and then models it globally in CAD. This way, Cummins can anticipate future risk and business impact. [11:24] The second is the partners Cummins works with. Those are insurance, reinsurance, and brokers. They offer different types of climate risk-related data analysis. [11:38] From there, certain captives can use such data-driven arrangements and cat modelling to plan their parametric solution. That's a unique type of risk, tailor-made. [12:00] Deyna says Cummins's global insurance program has broad coverage, already covering such climate risks. That's useful for specific risks in certain areas. You have the trend, you see the need, and then you use this to pay claims quickly without complex claim procedures. [12:28] The other area Cummins has been doing is leveraging the data it receives and then utilizing the captive to do the strategic planning. That is how Cummins utilizes the captives to structure its global property liability program. [12:46] And then Cummins uses the captive as a fronting mechanism, and then puts more layers within the captive to manage large claims more flexibly. [12:58] Then the other part is using the captive to buy reinsurance to transfer certain catastrophic events or the higher risks to the reinsurance market. So it's a diversified captive strategy. [13:15] Justin asks about business continuity planning. Deyna says that to manage climate risk, business continuity planning is important. Lots of companies use it to manage traditional risks, like a flood or a fire, but it is also important to deal with future climate risk resiliency planning. [13:39] The supply chain risk is part of that, and then when you identify the high-risk area, like a heat wave, or cold stress, or water stress, how can you make sure your local businesses are well prepared to deal with those situations, especially in the long run? [14:00] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. Booth sales are open now! [14:22] General registration and speaker registration are also open right now! Marketplace and Hospitality badges will be available starting on March 3rd. Links are in this episode's show notes. [14:37] Let's Return to Our Interview with Deyna Feng! [14:45] Deyna says Cummins is based in Indiana. Deyna lives there. [14:53] Deyna says, This year, the snow hit us super early. Before, it's after Christmas time, when we start seeing snow, and January is super cold, and this year, like, early December, we're already in cold weather. [15:05] Justin says, Yeah, we're recording in mid-December right now, and we received somewhere between 6 and 12 inches of snow on Sunday, just a few days before recording this. [15:17] Justin continues, And now, today, we're gonna be hitting the 50 degree mark. So everything is finally gonna melt away, but it's also gonna wreak havoc on our senses, and people are gonna get sick, right? That just happens. Yes, I'm just venting here about climate change. [15:41] Globally, Deyna has regional risk managers, a renewal team, and a claims team, who work together as one big team of around 16 people in total. [16:07] Dena describes her role as Director of Captive Programs. The insurance company is complex. They have to deal with all the government requirements and year-end matters, program renewal, and Cummins's captive, covering the international employee benefits side. [16:20] Cummins's captive covers the medical and the non-medical program for over 36 countries. [16:29] Justin interviewed the Risk Manager of the Year for 2025, Jennifer Pack, with Hilton. In addition to her role in risk management for Hilton, she was also the captive manager, and she said that sometimes that's a one-day-a-week job, and sometimes it's a four-day-a-week job. [6:47] It really depends on various things, and climate change was one of the items that she mentioned. Justin says, It's something that our audience should be thinking about, because captive management is not going away. [17:05] Justin says, It is something that you want to have in your arsenal as a risk professional, and it can enhance your career, like it's doing for Deyna. [17:16] Justin says, We've seen how some policymakers in the U.S. try to debunk climate change, even though there's overwhelming evidence to suggest that it is a real thing, and it still ranks very highly on the World Economic Forum's list of top risks. [17:31] Justin asks, Against that backdrop, how are you swaying the decision makers at Cummins these days? You just said you were going to speak to some of your internal stakeholders, so what do you need to do to convince them? [17:45] Deyna says that the World Economic Forum emphasizes that climate change now represents massive physical and transition risks, with over $3.6 trillion in damage from disasters since 2000. So, it's a serious number. [18:10] Deyna says, Our CEO takes climate change seriously. We are trying to be the environmental sustainability advocacy lead in the industry and market. [18:23] Deyna says, Cummins has a strategy and commitment to the 2030 environment goals and 2050 targets. We are doing Destination Zero, which is helping not just our own facility, but also our customers and suppliers to navigate the energy transition and environmental goals. [18:46] Cummins's CEO is Jennifer Rumsey. Deyna says she's an awesome, wonderful CEO. [19:07] Justin says, It sounds like you have a line of communication to her. [19:11] Deyna says, We do. This is an important topic. We do annual reporting, including all the aspects relating to this Destination Zero goal. It involves so many functions within Cummins to work with these goals and targets. [10:38] The goals include decarbonization, material changes, community goals to address the site and community greenhouse gas emissions, and also, volatile organic components, water, and waste. [19:56] There are so many things that can be leveraged and developed perfectly with this approach. [20:06] A Final Break! The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved, in part, by its collaboration with risk management and insurance educators across the U.S. and Canada. [20:25] Spencer awards undergraduate, graduate, Ph.D., and Pre-Instructor of Practice Scholarships to students enrolled at an accredited college or university in the U.S. and Canada, and physically studying in either location. No remote coursework eligibility from other locations. [20:42] Including part-time, graduate scholarships to risk management and insurance professionals continuing their education. [20:48] Since 1980, Spencer has invested more than $11.1 million in the scholarship program with awards to over 1,700 students. More than 85% of Spencer's scholarship recipients remain in the industry to this day. [21:03] They've got undergraduate scholarships, full-time Master's scholarships, part-time Master's scholarships, pre-dissertation Ph.D. candidates, doctoral candidates, and pre-instructor of practice scholarships all open now. The application deadline is January 31st, 2026. [21:25] Visit SpencerEd.org/scholarships. You'll find the different application buttons. See the link in this episode's show notes for more information. [21:37] Let's Return to the Conclusion of Our Interview with Deyna Feng!  [22:00] Justin asks Deyna what makes captives uniquely suited to handle climate-driven volatility, compared to traditional insurance solutions. [22:06] Deyna says, Climate risk is quite dynamic, systematic, and also regulatory-driven. It needs continuous investment to understand your climate risk and the government reporting requirements. It's not just one-time managing the risk. [22:25] Deyna says, We look at now as the baseline, with the short-term, mid-term, and long-term, all the way to the end of the century, how the climate risk score is changing for our global facilities. Those are evolving risk scores, not just a one-time risk score. [22:51] Cummins takes a systematic and holistic approach to evaluate the climate risk, so it's not like a daily market change. [23:10] Deyna says, The other part is regulatory diversity, for the whole climate risk aspect, how you manage the risk, matching with different compliance requirements. [23:22] In the U.S., the federal government sets the broad framework, like the Clean Air Act, the Inflation Reduction Act, and some national emission standards. But then, across the 50 states, over 35 states enforce renewable portfolio standards or clean energy standards. [23:41] Different states have different goals, like greenhouse gas reduction targets, and then some other things. And some states are super aggressive on their targets, with much higher standards and quicker standards than the federal guidelines. [24:05] Cummins has a designated team focusing on all the government requirements, the reporting, etc. We share data internally across the broader function teams. [24:24] If we collect data on the climate risk score, we want to make sure everybody leverages the same set of data. We have the same tone and the same message passing on to the global leaders, regional leaders, and even site leaders. [24:37] Justin asks about having systems in place. [24:42] Deyna says, We are building a risk framework around this area. That includes the centralized data. We share the same set of data with the stakeholders. We do need internal stakeholder alignment. [24:55] Deyna says, We have strategic alignment, talking about the same thing. Then we also need to work with site leaders at the site-level resiliency on their business continuity planning. [25:10] Deyna's team provides global training because climate risk is still quite a new concept to many people managing the risk. Deyna wants to make sure they understand where we come from, how we manage the data, and the risk. [25:21] Justin asks about Cummins's risk insurance and captive strategy. [25:28] Cummins uses captives strategically. From this climate risk management, Deyna says, we also have different approaches, from a few lenses. First is the risk data. [25:41] Deyna says, We select a good partner to help us review our global portfolio, and we gather the individual site climate risk score. [25:51] Deyna says, Then we put them together so that we can generate the whole company profile, the regional risk map, down to the country level and site-specific level about where the risky areas are for the individual site from a climate risk perspective. [26:06] Deyna says, Then, from the insurance program perspective, we also have a layered insurance program with our captive actively involved in leading the strategy and also, doing the transfer of the larger layers or risks to the reinsurance market. [26:23] Deyna continues, So, we buy the multi-year aggregate stop-loss in the captive to cap our volatility. Then, there are some other ways about parametric insurance that other companies can consider. [26:36] For Cummins, because we have broad coverage, we already consider such cat risks, including future rainfall, wind, and heat-related scenarios. [26:48] In addition to these, supply chain risk is an important piece to manage. So, contingency BI is also an important area to be considered in your insurance program, and it also covers the climate risk profile. [27:02] Deyna says, We have been using captive funding for the business resilience project. We do the business continuity planning stress test globally, and we also fund the climate risk project from the captive. [27:34] Deyna says, The most important thing is how to manage your employees' well-being. That's not just physical health; we are talking more about mental health. And to be frank, in certain areas, people already experience the climate risk impact, like heat, in the summertime. [27:52] Cummins has its International Employee Benefits Program in its captive, leveraging this program together with the climate risk management and working with HR, about how to better manage climate risk, with resiliency, in the future. [28:09] Deyna continues, talking about mental health support during disaster, emergency relocation, and making people, employees, and their families feel they are safe, working in a safe environment, and also that they don't need to worry about climate risk impact on operations. [28:20] Justin asks Deyna for words for young risk professionals coming up and organizations beginning to explore captives for climate risk financing. What are the misconceptions or blind spots that she sees? [29:44] Deyna says a blind spot about climate change is thinking that climate risk is too long-term for a captive and that captives are for managing whatever is coming up suddenly. In reality, floods, wildfires, and hurricanes are happening now and more frequently than before. [30:26] If we can model these types of risks for short-term, medium-term, and long-term retention strategies, that's important for captive or risk insurance for large companies to consider the future strategy. [30:41] The other thing Deyna hears is that captives only handle traditional reinsurance programs. Cummins uses the captive to fund risk insurance strategies or projects. Gathering climate risk data, building up the model, and cat modelling. [31:00] This also includes thinking about how to integrate this type of risk into risk financing and the insurance program. Cummins is managing it actively. [31:12] The other thing Deyna hears is that data is optional. So, especially for captive, everything is data-driven. [31:25] We have to do cat modelling, we have to make sure we buy the proper insurance program with proper premium payment, and also whether the retention level is appropriate for our site level, for captive, and for the overall program. So, data is the key, or data is the king. [32:00] Deyna says this touches employee safety, employee benefits, supply chain risk, and environmental liability. Lots of areas touch climate risk, not just the property program. [32:26] Deyna lists some suggestions. Build a holistic climate risk profile within the company, across all the global sites, that covers all the countries. Each company will change dramatically in climate risk. It must be data-driven. [33:01] To gather the data, find a proper partner to work with a reputable climate-risk expert to help you check legislative changes, access the hazard or cat modelling, and provide good climate risk data matching with those regulatory changes and compliance requirements. [33:24] Then support your thorough risk evaluation. That's the data part. [33:28] Then, on top of the data, build a good insurance management program, and leverage your captive to build the captive strategy relating to retention, the limit, and the parametrics, insurance program design, like parametric triggers. [33:45] In addition to the insurance program, you have the ERM, the Enterprise Risk Management, ESG reporting, and all the compliance relating to country requirements and state law requirements. [33:58] In Europe, it's CSRD. In the U.S., it's an SEC filing. So, there are lots of different regulatory requirements relating to this area. You want to make sure your data can support your reporting and then can be sustainable, year over year, not just a one-year data point. [34:15] Then, the other thing is the business continuity. Make sure that the good BCP management or integration, including climate risk, especially for all the high risks you are capturing, you should have really good operational resilience to face that. [34:33] Justin mentions that CSRD stands for Corporate Sustainability Reporting Directive, which sets the standard for how EU companies need to report on their sustainability work. He had to plug that in because there are so many abbreviations and acronyms in risk management. [34:53] Deyna's last point is to share the data internally with a cross-functional group, with internal stakeholders, including senior leadership reporting up to the CEO and COO level. [35:05] Share the data with the middle management team, global team, global leadership team, global management team, and then down to the site level. [35:15] All the parties need to work together to shape a holistic strategy around climate risk management. It's not just for risk insurance or captive only. [35:25] Justion says, Excellent. And so these are great tips for everybody. If you're thinking about launching a captive against your climate risk data profile, I think this is the way to go. [35:37] Justin says, Ms. Rumsey is your CEO, but before that, she was the Chief Operating Officer. So, you must have already had a good working relationship with her before she was promoted, right? [36:02] Deyna says, Yes. This is an important area, because we have not only climate risk, but also the whole risk relating to this area, managed by an environmental sustainability team. [36:16] They organize all the different functions, trying to achieve the goals, and then figure out all the different aspects of our operation and what we can do to meet our future goals. [36:27] This is long-term-driven. It's not like a five-year project; you get it done, and the project is completed. It's long-term. [36:35] Justin says, Ms. Rumsey had come on as COO in March of 2021. You and I first met, or at least recorded the RIMSCast episode, in May of 2021. [36:46] So right around that time, you were probably having higher-level discussions with her, and now you already had her ear, so I think that just speaks to the value of relationship building along the way. Would you agree? [36:58] Deyna says, We have the designated team internally managing this area, and we do connect through that lens, trying to gather the data a long, long time ago. [37:10] Justin says, But it's the sort of thing where, first of all, it's nice to see that people are promoted from within. I think that's a really great thing that Cummins did. [37:18] And second, the fact that you already had that line of communication, and it's not like you had to establish a new one with a new CEO. You already had that line of communication with somebody who was moving up into the role. [37:30] So, I think that speaks to Cummins's credit. I think it speaks to your credit and to your advantage, because you don't have to start from scratch and build that line. [37:40] Deyna acknowledges, Yes, it's super important. [37:44] Well, Dana, it has been such a pleasure to see you again, to record with you again here on RIMSCast. It's been almost five years, and we hope to see you at RISKWORLD. [38:00] Thank you once again for rejoining us, and hopefully, the next time I see you, it won't be five years in between. [38:06] Deyna says, Definitely. I love RIMS events, and all the conferences, the webinars, and even your podcast, so it's super good. [38:17] Justin says, Thank you so much. You're a wonderful guest. [38:20] Special thanks again to Deyna Feng for joining us here on RIMScast. Links to other RIMSCast episodes about captive insurance management are in this episode's show notes. [38:34] I've also got links to RIMS Risk Management Magazine articles about captives, as well as other RIMS resources, so check it out and go to the Risk Knowledge page of RIMS.org. [38:46] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [39:14] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [39:32] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [39:49] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [40:06] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [40:21] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [40:32] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Risk Management Magazine: Year In Risk Edition | Feature Article RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management magazine | Contribute RIMS Now Spencer Educational Foundation Scholarships | Submission Deadline Jan. 31, 2026 RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Series Featuring Joe Milan! Cummins Inc. Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam PrepMarch 10‒11 | April 21‒22, 2026,  9:00 am‒4:00 pm EST, Virtual Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Managing Worker Compensation, Employer's Liability and Employment Practices in the US" | Jan. 21‒22, 2026 "Storytelling with Data for Risk Management" | Feb. 2‒3 "Applying and Integrating ERM" | Feb 4. "Facilitating Risk-Based Decision Making" | March 4‒5, 2026 Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes about Captive Management: "Broadcasting Captive Wisdom with James Swanke" "Risk Management Momentum with Lockton U.S. President Tim Ryan" "RIMS 2025 Risk Manager of the Year, Jennifer Pack" "Asian Pacific American Heritage Month 2021" (featuring Deyna Feng)   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Deyna Feng, Director of Captive Programs, Cummins   Production and engineering provided by Podfly.  

Welcome back, thotties! Kelsey is starting off strong with her being ✨ delicious✨ Kelsey loves a good plum and Melissa is a berry bitch so that's that. Silly goofy moods happen quite often for our own thottie M-Dawg and K-Sizzle can't believe it

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this first episode of 2026, Justin interviews Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management Magazine. They discuss major cyber events of 2025, court rulings on AI fair use, and what risk professionals should take away about AI training data and intellectual property. They discuss regulations about forever chemicals or PFAS and what to look for in 2026 and beyond as these regulations change. They discuss the U.S. government shutdown of October and its residual effects.   Listen for a call for content submissions for RIMS Risk Management Magazine.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. This is our first episode of 2026. We're going to look forward and back, and who better to do that with than Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management Magazine? [:44] We will discuss some of the top risk management stories of 2025 and what they might mean for 2026. There's so much to discuss, from forever chemicals to AI! But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on January 14th and 15th, 2026. These are virtual courses. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. This is the last call for "Intro to ERM for Senior Leaders". It will be held on January 8th, led by Joe Mayo. [1:24] On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:35] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:45] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:57] RIMS members always enjoy deep discounts on the virtual workshops. [2:06] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:19] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:34] On with the show! The annual Year in Risk Review edition of RIMS Risk Management Magazine is now available. Visit RMMagazine.com for more information. [2:47] We're going to pick up where we left off with Morgan O'Rouke and Hilary Tuttle of RIMS Risk Management Magazine and the RIMS Publication Department. [2:54] Feel free to check out Episode 371 to get caught up as we discuss natural catastrophes and their impact on the landscape. [3:04] In this episode, we're going to talk about AI, PFAS forever chemicals, and how you can contribute to RIMS Risk Management Magazine in 2026. [3:14] Risk Management Magazine is an Azbee award winner, so you are hearing insights from the best in the business of risk management reporting. Let's get to it… [3:24] Interview!  Morgan O'Rourke and Hilary Tuttle, welcome back to RIMScast! [4:01] The Year in Risk 2025 Edition of RIMS Risk Management Magazine has been on digital shelves for a few weeks now. We're going to look a little bit forward and backward. [4:34] Data Privacy Day comes up on January 20th every year. All eyes turn to cyber. At RIMS, all eyes turn to Hilary because she is the cyber guru. Hilary thinks every day of the year is Data Privacy Day. [5:15] Hilary says, in the Year in Risk edition, they talked about 2025's Amazon Web Services outage, which took about 70,000 companies offline. It's a solid example of third-party risk and vendor security risks. [5:31] The economic impact of the outage was estimated to be in the billions of dollars, in terms of lost business and business interruption. Hilary said the AWS outage lasted about 16 hours. [5:53] It's a good reminder of vendor concentration risk in cloud services. The cloud services market has three major vendors; Amazon has about 30% of the market. If Amazon goes down, that's a significant number of clients who are at risk. [6:10] Hilary says insurers are not at real risk for this outage. A lot of cyber coverage has provisions for outages with waiting periods of eight to 12 hours. Your insurer might come in for the end of that situation, but most of it is on the insured. [6:38] For insurers and reinsurers, it was a pretty mild event. It's not going to cause huge changes in capacity or rates. It is a reminder that a lot of the risk is going to be on you, depending on the factors that are involved and the vendors that you pick. [6:58] There was also the Marks & Spencer ransomware incident that impacted their stores and online services. They sell about four million Great British pounds a day of products online. Their website was down for three months because of the ransomware event and recovery process. [7:29] Marks & Spencer had to go to pen and paper for in-store sales, and they operate hundreds of stores. It also caused inventory problems. It was a huge increase in waste because they didn't have ways of tracking or selling all of their inventory of food and other goods. [7:45] The cost to Marks & Spencer was estimated to be about three hundred million Great British pounds. [7:53] 2025 was a big year for cyber. Some other British retailers had some issues that have had retailers around the world taking note. [8:04] Morgan was interested in the Jaguar Land Rover case. Since Morgan was a child, he wanted a Jaguar for the hood ornament. If they're taken offline, how is Morgan ever going to get himself a Jaguar? [8:35] Hilary says, You and a lot of other customers, because they had to take all of their very automated production offline for a while. Parts and Sales were interrupted. They saw quarterly revenues drop around 24%, year-over-year, a difference of several hundred million pounds. [8:58] Morgan says it becomes a little bit the same. It doesn't mean that it's not important. It's one of those things we encounter with perpetual risks, whether it's disasters or cyber. [9:12] When they're always happening, they tend to get overlooked until some marquee event like an Amazon Web Services outage takes down a lot of people, or a company is taken offline for months and has to go back to pen and paper. That's not easy at large volumes. [9:38] The underlying current of the risks you have to deal with still needs to be a part of your day-to-day mitigation exercises.  [9:59] Hilary says The more things change, the more things stay the same. [10:18] Morgan says There is a broader perspective to everything. A risk is not just going to affect you; it's going to affect people down the line who are connected to your business. A cybersecurity event that happens over here is bound to have an impact on you, in some way. [10:35] Hilary says concentration risk is an increasing issue, and dependency is an issue. We have allowed some of the market players to become so large that the impact, if anything happens to them, is astounding. [10:50] There are advantages in having a large company as your vendor, but there's also a certain amount of instability in the lack of control you have in what's going on upstream. There's a lot that can happen downstream, to you. [11:26] Hilarity may attend a Black Hat conference this year. From that, she may see what is coming several years down the pike. [12:00] Justin says that AI is omnipresent. Regarding AI, in 2025, courts ruled on Fair Use. Multiple lawsuits were filed, and major settlements were reached. One lawsuit about scrubbing user data came from violating the Terms of Use, rather than copyright infringement. [12:44] Morgan says companies that use AI or are creating an AI should be looking at the emerging liabilities and governance challenges of AI. [12:55] There were a lot of cases. Two cases discussed in the Year in Risk 2025 were about Anthropic and Meta being sued by groups of authors. The courts ruled in both cases that if the AI made substantial changes to the material, they could use it under Fair Use. [13:32] The cases weren't definitive that you have an open free-for-all. Anthropic was guilty of using pirated materials from the authors to train its AI. Anthopic settled by paying $1.5 billion to the authors. The ruling was that you can use material that you get legally, by paying for it. [14:14] There are ways that the AI companies may be held accountable. There are 40 to 50 cases from every manner of media that may be adjudicated differently. It may come down to the sense of the case. There is some precedent set by one case. [14:36] Morgan says, from a content creator perspective, it's heartening that copyright is protected. Hilary says it's disheartening that larger companies like Disney have more negotiating power in what they allow AI to use, but smaller companies may not have as much power. [15:52] Morgan says the New York Times has licensed individual pieces for AI to use. [16:06] If the company creating AI doesn't have an agreement with a content creator, in a lot of court cases, the settlement ends up being a licensing agreement to use the content. [16:19] There's somewhat of an inevitability to the use of AI. You can't do anything about it, so you might as well get on board and get your piece. AI will take a little getting used to. [16:56] Morgan says their future coverage of AI will be less about the promise of AI and more about how to use AI responsibly in your business. What are the risks of AI in your business? [17:37] Everybody's doing it anyway, and risk depends on the level of fact-checking or information verification you are doing when you're putting together anything from an email to an RFP for a new vendor. You don't lose sight of the ball just because it's been around a few years. [17:58] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. Booth sales are open now! [18:20] General registration and speaker registration are also open right now! Marketplace and Hospitality badges will be available starting on March 3rd. Links are in this episode's show notes. [18:35] Let's Return to Our Interview with Morgan O'Rourke and Hilary Tuttle! [18:52] Justin brings up forever chemicals. They're in a lot of the things he drinks. The foods that he eats have consumed the same water. Executives in Italy were sentenced for not doing enough about them. In the U.S., the Trump administration started regulatory rollbacks. [19:47] Justin mentions the RIMS webinars about forever chemicals, showing that if we don't work to curtail PFAS, they will have a lasting, harmful effect. [20:21] Morgan says environmental liability for PFAS has been a topic of discussion for a few years. [20:52] The discussions are around how PFAS will be regulated from a business standpoint, and what that means for my company. How do I need to report them? How do I need to mitigate it and clean up the systems I am responsible for? [21:05] Morgan reports that in Italy, 11 executives were sentenced to a total of 141 years in prison for polluting the groundwater in an area of Italy. Studies showed that over time, there were thousands more cancers and cases of cardiovascular disease because of this pollution. [21:35] Morgan says, That's the extreme side of it. It's what everyone wants to prevent. A lot of other countries and U.S. states are passing regulations banning or restricting PFAS. In 2025, in the U.S., some regulations were softened or paused. [21:59] Hilary says there were various efforts to soften different regulations. Morgan explains that it was mainly for the costs to businesses. From the business standpoint, it's going to cost money to mitigate or report whatever the requirement is. [22:14] Morgan says, It's not that restrictions were taken off the table, but it's concerning from a public health standpoint that they are slow-walking PFAS regulations. Morgan would like to think that just because a regulation is paused doesn't mean it won't be put into effect soon. [22:56] Hilary says when she was in Calgary, in the fall, there was a session specifically on PFAS litigation, because Canada has also passed some measures on this. It's a solid reminder that other countries are starting to pick up on this regulation. [23:17] In terms of compliance with what can or can't be used in product development, it's good to keep in mind some of these emerging regulations and the direction they are going. Remediation is definitely a component of it. [23:33] In product development and new product releases, and product reformulations, it is often more expensive to figure out how to use substances that are not the PFAS that have been used for a long time, but that is the direction in which some businesses need to be looking. [23:49] Morgan says, We did it with asbestos, years ago. PFAS started as a health concern, but it is a business concern. If you're responsible for injuring people, as we saw in Italy, you could go to jail. It doesn't mean that will happen in every country, but it doesn't mean it won't. [24:19] Hilary thinks it will be interesting to see what moves the needle in different countries, as there are different business climates in different parts of the world. The United States is a lot more litigious than a lot of other cultures. Some of the regulations are being driven by lawsuits. [24:30] Other places are focused more on compliance, where there's more of a sense of social good, like the Nordics, or parts of Western Europe, Hilary says, where some regulations coming from the government will be enough to move the needle. [24:58] Multinational companies will need to be aware of the regulations in different countries and decide if they will make products for a specific country, restrict sales in that country, or reformulate their offerings. [25:12] Morgan says the idea that there is an acceptable level of PFAS in the water is what bothers him the most. Hilary says there are risks more direct than water. You're cooking your food in PFAS. You have fire blankets to keep your children safe in the wake of wildfires. [25:38] Things that you take for granted, that are serving a function, have the forever chemicals because they serve the function. Waterproof shoes, for example. You're relying on the benefit, but you're not necessarily thinking about the risks that you're introducing. [25:54] Morgan says that it's all about the concentration of things. PFAS are in whatever you consume. At a certain point, it becomes harmful. Hilary says, You might buy one pair of waterproof shoes, but what if everyone does, and they all end up in landfills and cause runoff? [26:39] It's a personal risk vs. a collective risk issue. It's a short-term risk vs. a long-tail risk issue. Hilary and Morgan discuss tapwater. Ignorance is bliss. It's a long-term risk. [27:11] A Final Break! The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved, in part, by its collaboration with risk management and insurance educators across the U.S. and Canada. [27:30] Spencer awards undergraduate, graduate, Ph.D., and Pre-Instructor of Practice Scholarships to students enrolled at an accredited college or university in the U.S. and Canada, and physically studying in either location. No remote coursework eligibility from other locations. [27:47] Including part-time, graduate scholarships to risk management and insurance professionals continuing their education. [27:53] Since 1980, Spencer has invested more than $11.1 million in the scholarship program with awards to over 1,700 students. More than 85% of Spencer's scholarship recipients remain in the industry to this day. [28:09] They've got undergraduate scholarships, full-time Master's scholarships, part-time Master's scholarships, pre-dissertation Ph.D. candidates, doctoral candidates, and pre-instructor of practice scholarships all open now. The application deadline is January 31st, 2026. [28:30] Visit SpencerEd.org/scholarships. You'll find the different application buttons. See the link in this episode's show notes for more information. [28:42] Let's Return to the Conclusion of Our Interview with Morgan O'Rourke and Hilary Tuttle!  [28:59] RIMS Risk Management Magazine is looking for risk managers, business professionals, and legal professionals to contribute by way of articles and share their knowledge. [29:21] Morgan says We're looking for articles talking not just about the risk, but about what a risk manager can do about the risk. The actionable part of the article describes the risk management. We're trying to help our risk manager readers do their jobs better. [29:44] If you're looking to contribute something, share your knowledge. How did you deal with this risk that you are encountering? What are the steps that you recommend people take to mitigate that risk? [29:58] That ends up being the most successful article. It accomplishes our mission most clearly. [30:06] Hilary adds, if there is something that has come up at work that surprises you, as a seasoned risk professional, it may be new, emerging, or surprising to someone else. [30:18] Sharing your expertise with your colleagues is something we are always looking to do, and we're happy to help you figure out how to do it. [30:34] Justin says When we attend a RIMS event, we have a chance to mingle with our members and the attendees. People have come up to me and said they listen to the show, and they would love it if I would do an episode on "this." [30:54] One that stood out to Justin is amusement park ride safety risk. He plans to do an episode on that in the summer. [31:13] Hilary says, We love a novelty risk. They have done articles on water parks and ski resorts. Morgan says everybody's got a risk they're facing. Hilary wrote a blog post years ago about bouncy houses. Justin did an episode on hot air balloons. [31:35] Morgan recalls doing an article on microbreweries, and a brewery sent them a six-pack. He'd like to do pizza risks next, maybe do a full spread! [32:07] Justin says, We do want to give you a forum to share your knowledge, experience, and recommendations on how to mitigate a risk or tackle it head-on, or a new idea for a strategy on an emerging risk. [32:25] Margan says some of those things may start as an article and later become a podcast episode. It's key to provide content that RIMS may be looking for, in general. It all starts with reaching out to Morgan or Hilary with an idea. [32:44] Hilary says if you've put together a PowerPoint for a presentation, you probably have a pitch. Morgan says, You've basically got an article or a conversation started. If it's worthwhile to share with a conference audience, it's worthwhile to share with everybody. [33:01] When Hilary meets a risk manager, her favorite questions to ask are What is the most unexpected risk that you've dealt with? What is the number one risk that you've dealt with? What did you not think that you'd be spending your days on? [33:17] Hilary met a risk manager who worked for a group of public universities. He said the biggest unexpected problem that he deals with is kids riding motorized scooters on sidewalks or leaving them for people to trip over. Ebikes catch on fire. 100 kids a year get hurt from them.  [33:56] Hilary says, If you have a situation like that, if there's a risk that you never expected, if nothing else, we'd be really interested to hear about it. [34:05] There are so many topics from 2025 to check out in the Q4 edition of RIMS Risk Management Magazine at RMMagazine.com now. [34:26] In October, the longest U.S. Government shutdown in history occurred. This led to a 10% cut in air traffic capacity and a lapse in the NFIP, which is one of RIMS's top legislative priorities. Once the government reopened, the NFIP was reauthorized until the end of January. [35:06] The NFIP has been kicked down the road for a shorter period than anyone really wants. This was one of the few times it has been allowed to fully lapse. It leaves claims up in the air. [35:46] Homeowners, buyers, and developers in high-risk areas can't get federally-backed mortgages without flood insurance. The lapse put a lot of property purchases in peril or on hold. Morgan says there wasn't a big run on claims in the last 40 days, but there could have been. [36:28] Hilary points out that real estate developers couldn't sell homes in that period in areas where flood insurance is required. There are business impacts that are not storm-related. [37:01] The shutdown had an enormous human toll with people losing jobs or being furloughed and going without money, not being able to pay rent, mortgage, or childcare. SNAP was cut for a significant period. [37:30] Ernst & Young estimated the hit to the GDP as 1 to 1.5%, or a loss of $7 to $14 billion of economic output that would not be made back up after the government reopened. It was a disruption with long-term implications. [37:57] Morgan says We're coming up on another fight as the reopening of the government only lasts until the end of January. If there is debate, as there always has been, we'll go through this process again. How long will that take? Have we learned from our mistake two months ago? [38:22] Morgan says uncertainty is never good for the economy or for our mental well-being. [38:31] Justin says, we're going to cap the conversation for now, and invites Morgan and Hilary back in about five months for the 2026 Mid-year Risk in Review. [38:42] It's been such a pleasure to be rejoined by you here on RIMScast. Everyone can go to RMMagazine.com, and you're already hard at work on Q1 2026, right? Morgan says we put up new articles every week. There's always something new. The digital issues come up every quarter. Check your email inboxes for Editor's Picks, which we will send out once a month! [38:22] Morgan says those are ways to check us out or be reminded that we're out there providing you with information that you can use. [39:30] Morgan says, for RIMS members, there is the RIMS Now newsletter we send out to members quarterly with RIMS-centric news. [39:52] Justin says, It's been a pleasure, and I look forward to seeing you both, hopefully at RISKWORLD in Philadelphia! [40:13] Special thanks again to Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management Magazine and the RIMS Publications Department for joining us here on RIMScast. Remember to listen to Part 1 of this interview, via the link in this episode's show notes. [40:19] Visit RMMagazine.com to check out the Year in Risk feature and the Q4 edition of RIMS Risk Management Magazine. This is reporting from the best in the profession. You can't get any better than RIMS Risk Management Magazine. [40:37] Morgan and Hilary will return for the Mid-year in Risk episode of RIMScast, so subscribe to RIMScast today, don't miss it! [40:44] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [41:11] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [41:29] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [41:46] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [42:01] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [42:15] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [42:27] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Risk Management Magazine: Year In Risk Edition | Feature Article RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | April‒June 2026 Cohort | Led by James Lam RISKWORLD 2026 Registration — Open for exhibitors, members, and non-members! Reserve your booth at RISKWORLD 2026! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management Magazine | Contribute RIMS Now Spencer Educational Foundation Scholarships | Submission Deadline Jan. 31, 2026 RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Series Featuring Joe Milan! Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep January 14‒15, 2026, 9:00 am‒4:00 pm EST, Virtual Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Intro to ERM for Senior Leaders" | Jan 8! — LAST CALL! "Managing Worker Compensation, Employer's Liability and Employment Practices in the US" | Jan. 21‒22, 2026 "Applying and Integrating ERM" | Feb 4‒5 "Facilitating Risk-Based Decision Making" | March 4‒5, 2026   Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes: "Year In Risk 2025 with Morgan O'Rourke and Hilary Tuttle" "Mid-Year Update 2025: RIMS Legislative and Risk Management News" "James Lam on ERM, Strategy, and the Modern CRO" "The Evolving Role of the Risk Analyst" "Presilience and Cognitive Biases with Dr. Gav Schneider and Shreen Williams" "Risk Rotation with Lori Flaherty and Bill Coller of Paychex" "Risk Quantification Through Value-Based Frameworks"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Morgan O'Rourke, RIMS Director of Publications and Risk Management Magazine Editor in Chief Hilary Tuttle, Managing Editor, Risk Management Magazine   Production and engineering provided by Podfly.  

Join Denise Harper for a bit of encouragement as she shares about planning and dreaming, praying and listening. She'll share her "word for the year" and a devotion (about how God speaks to her) from her new book!This episode is meant to inspire you to pray and dream about what you'd love to see God write through your story in this new year and how to listen for His next step for you. So, grab a cup of coffee or tea and enjoy a little sip from the mug with Denise on this episode!Show NotesConnect with Denise:Email: denise@wearethebridge.org or podcast@wearethebridge.orgFacebook/Instagram: @motivesgirl1“That Voice (How I Hear Him Speak)” from Treasured Inside, Devotions with Denise, Vol 2Available at Amazon: http://bit.ly/4qJ3ho3The Bible Recap  wearethebridge.org/recapBridge Ladies Bible Studies    wearethebridge.org/study Did you know you can now watch Over the Rims of Mugs?Visit https://www.wearethebridge.org/mugsvideoPlease share Over the Rims of Mugs with a friend if you enjoyed this episode. Over the Rims of Mugs is still growing, and your positive review and 5-star rating would help.The Bridge Podcast Network is made possible by generous support from The Boardwalk Plaza Hotel and Victoria's Restaurant on the boardwalk in Rehoboth Beach, Delaware - Open 7 days a week, year-round - Learn more at https://boardwalkplaza.comFeedback, or Show Ideas? Send an email to podcast@wearethebridge.orgDownload The Bridge Mobile App to get the latest podcast episodes as soon as they are published!

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this last episode of 2025, Justin interviews Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management magazine on the most impactful risks of 2025 and what's expected in 2026. They discuss the difficulty of reporting on the rapid pace of risk change. Morgan and Hilary discuss the most impactful natural events of 2025: wildfires in California and Canada, Hurricane Melissa, and flooding. They discuss the economic risks posed by the unusual tariff changes in 2025 and how supply chains and inflation are affected. These risks are covered in the Q4 edition of RIMS Risk Management magazine online now.   Morgan and Hilary will return for the first episode of 2026, launching on January 5th.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. This is our final episode of 2025, and who better to spend it with than Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management magazine? [:44] We will discuss some of the top risk management stories of 2025 and what they might mean for 2026. They will rejoin us for the first episode of 2026! But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on January 14th and 15th, 2026. These are virtual courses. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:26] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:38] RIMS members always enjoy deep discounts on the virtual workshops. [1:48] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:01] You can enroll now for the next cohort, which will be held over 12 weeks from January through March of 2026. Registration closes on January 5th. Or Spring ahead and register for the cohort that will be held from April through June, 2026. Registration closes on April 6th. [2:20] Links to registration and enrollment are in this episode's show notes. [2:27] On with the show! The annual Year in Risk Review edition of RIMS Risk Management magazine is now available. Visit RMmagazine.com for more information. [2:39] I wanted to dive deeper into some of the pages and the stories that made major headlines in risk management this year. Morgan and Hilary are rejoining us as part of our annual tradition. [2:54] We're not just looking back; we're also going to talk about how these events should be some warning signs and provide some extra insight for risk managers around the world. [3:05] Interview! This is our final episode of the year, and we're going out with a bang with two of my favorite people! [3:12] Morgan O'Rourke and Hilary Tuttle, welcome back to RIMScast! [3:23] Justin saw Morgan and Hilary, just a month ago in Seattle, at the ERM Conference. Morgan says it was raining the whole time, but it was a good conference. It was well-attended, and everybody enjoyed themselves, and the attendees got a lot out of it. It was a great event! [3:51] Hilary also thought it was great! The turnout was fantastic! There was some great feedback on a lot of the sessions. There were some packed rooms! People seemed pleased with the programming. Hilary didn't see the sun until she left, but she enjoyed the city! [5:12] Morgan and Hilary's goal for attending the ERM Conference is to gather good ideas for articles. They look for presenters who might be good content contributors in other formats. They look to get a sense of what is new and what is emerging. [5:24] Morgan and Hilary talk to members about what they're seeing in practice and what's concerning to them. Morgan says if there's a packed room for a session, it's clearly a topic that's resonating, which bumps it to the top of the list of things to pursue, since there's interest in it. [6:17] Justin notes that Morgan's always there in the sessions with pen and paper. He's old school! [7:36] Morgan says the hardest part of reporting on risk is the breadth of the risks they cover. Everything has a lot more nuance and a lot more effect. This incident happened, which had 57 knock-on effects. [7:47] Morgan explains why distilling that down to something that makes sense in article form is a huge challenge and compares writing about risk to the experience risk managers have with everything they deal with. [8:10] Morgan says that, at the end of the year, spotlighting the year in risk coverage is a challenge. How do you get the entire economic, geopolitical situation down to 200 words? [8:37] Hilary says the velocity of change is a challenge when covering risk. Unlike in everyday news coverage, they have to add an amount of value or takeaways for a reader who is looking to do something about risk. Developing that value, at the speed of risk, is particularly challenging. [9:15] Hilary continues. Crises are compounded now. You can't ignore a lot of those factors that make a crisis a bad issue. Hilary cites hurricanes, rapid intensification, which is a knock-on effect of climate change, lax building codes, and people building more in certain regions. [9:38] Hilary says you have to add so many layers to explain why this crisis is happening now. It becomes a lot more challenging to figure out how it impacts insurance. You have to take into account different exclusions or the way the policies are created. There are a lot of moving parts. [10:04] Morgan says, It's not just your picture. It's the picture of your suppliers and your customers, who might be across the country or around the world. All of their risks become your risks or, at least, will impact your business. [10:33] Justin compliments the digital layout of RIMS Risk Manager magazine. He speaks of how Morgan and Hilary go to RIMS events looking for inspiration for content and content contributors. [11:05] Morgan says, We're only as good as the information we've learned through the people we've met, or what we've read. We're not practicing risk managers. Hearing from experts who deal with it every day is the strongest way to get good content that resonates with our readers. [12:17] Morgan says wildfires were probably the most costly insured loss of 2025. Hilary says that earthquakes were the most costly in terms of the loss of life. The LA fire was the largest single economic loss. There are lots of expensive homes in Southern California. [13:26] Canada has had wildfires raging almost non-stop for two or three years. Wildfires are no longer secondary perils. They're a prime source of loss. Severe convective storms, in the aggregate, probably caused more damage than wildfires this year. [14:04] Hilary says severe convective storms have been in the top 10 for seven out of the last 10 years. Morgan says this was one of the top convective storm years. In natural disasters, you're not looking just at hurricanes and earthquakes, but also fires, floods, and more. [14:32] Hilary talks about secondary factors, like tremendous wind events in California, increasing the rate at which fires spread, making containment difficult. Things were moving fast. A lot of buildings were burning. It took three weeks to put out two of the largest fires. [15:05] Canada faced different challenges. All but two provinces had record, above-average fire seasons. Some fires impacted remote areas where getting people out is logistically extremely difficult. Seventy-something First Nations communities had to be evacuated. [15:35] If you're dealing with areas that are largely only accessible by air, getting communities of people out for long periods is logistically very challenging, with a devastating human impact. They're very different fires. [15:52] Hilary says it was quite a year. Morgan ties it back to the impact of climate change. It starts with drought, and it's exacerbated by winds. Then you've got these weird things that pop up where Mother Nature says, Hey, I've got a weird twist for you! [16:13] Quick Break! RISKWORLD 2026 will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. RISKWORLD attracts more than 10,000 risk professionals from across the globe. It's time to Connect, Cultivate, and Collaborate with them. Booth sales are open now! [16:35] General registration and speaker registration are also open right now! Marketplace and Hospitality badges will be available starting on March 3rd. Links are in this episode's show notes. [16:50] Let's Return to Our Interview with Morgan O'Rourke and Hilary Tuttle! [17:11] Some of the fires Canada experienced this year were zombie fires, also called holdover fires, or overwintering fires. They can live in the soil under the snow until it gets warm, the snow melts, and they reignite. Some of the fires of 2025 were started in 2023. [16:23] Hilary believes those holdover fires were in Saskatchewan, Manitoba, the Northwest Territories, and up North. Holdover fires are most common in the Arctic Circle. [18:43] Morgan and Hilary believe that's a good example of things that will happen more frequently with climate change, affecting a larger number of people than before. [19:15] Morgan says convective storms are tornadoes and thunderstorms. Hilary adds that it has to do with the pressure front that leads to forming them. Outbreaks of many tornadoes in a couple of days wreak havoc in the U.S. Midwest. [20:06] Morgan says the highest intensity of a tornado is EF5. There was an EF5 tornado in North Dakota for the first time in 10 years. It touched down in a place where there were not a lot of people. [20:35] Hilary says we're seeing increasingly severe convective storms and inland flooding losses. Severe storms are flooding areas that weren't thought of as being at risk of flooding. [20:50] The more we build into these plains with high-value properties, the more damaging convective storms are getting. The storms are also getting worse. We're also seeing increasingly damaging hail. That's a severe convective storm issue, as well. [21:27] Morgan says climate change makes things more intense and widespread. Morgan says his favorite climate change after-effect was the attack of the jellyfish this year. [21:57] There were multiple instances of French nuclear power plants being taken offline by giant swarms of jellyfish clogging the coolant intake lines. Europe had a super-hot summer. Water temperatures rose, which increased jellyfish activity and presence. [22:26] There were so many jellyfish, they ended up in places they shouldn't be. France generates 70% of its electricity through nuclear power. If nuclear power plants are taken offline, it's not just a minor annoyance. [22:51] If you're a company during a blackout, you don't care that it was jellyfish. You're still not in business for the time that you don't have power. Suddenly, this climate change effect is now a part of a disaster preparedness plan because of climate change. You have to plan for jellyfish. [24:43] Hurricane Melissa was another storm with widespread flooding and enormous insured losses. Morgan notes that 2025 was a relatively low-activity season from the standpoint of how many hurricanes made landfall. [25:18] Melissa was the most damaging and probably accounted for 90% of economic losses and loss of life. It did billions of dollars' worth of damage. [25:33] There were three Category 5 Hurricanes this year; four is the record, but they mostly went out into the ocean; they didn't do anything. That doesn't mean it's always going to happen. If one storm hits the right place, you're in trouble. [26:07] It was an active storm season for Jamaica. It only takes one storm in your area to be an active season for you. [26:25] Hilary says Melissa is a textbook case of some of the perils of rapid intensification. It got much worse very quickly. The fact that we've seen such a proportion of Category 5 storms is a pattern that is concerning. [26:57] They discussed rapid intensification in the hurricane outlook for the season. Hurricane Erin also occurred this year. It intensified quickly, but it didn't cause a lot of damage. Your lead time is less when a storm intensifies quickly. [27:32] Morgan says it's important to get things in order before storms hit because you may not have the time to do it when it's mid-season. You don't know where or when a storm will hit. [27:50] Wikipedia calls Melissa the costliest storm in Jamaican history, at $10 billion in damage, 102 fatalities, 141 injuries, and 27 missing. [28:38] A Final Break! The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved, in part, by its collaboration with risk management and insurance educators across the U.S. and Canada. [28:57] Spencer awards undergraduate, graduate, Ph.D., and Pre-Instructor of Practice Scholarships to students enrolled at an accredited college or university in the U.S. and Canada, and physically studying in either location. No remote coursework eligibility from other locations. [29:14] Including part-time, graduate scholarships to risk management and insurance professionals continuing their education. [29:20] Since 1980, Spencer has invested more than $11.1 million in the scholarship program with awards to over 1,700 students. More than 85% of Spencer's scholarship recipients remain in the industry to this day. [29:35] They've got undergraduate scholarships, full-time Master's scholarships, part-time Master's scholarships, pre-dissertation Ph.D. candidates, doctoral candidates, and pre-instructor of practice scholarships all open now. The application deadline is January 31st, 2026. [29:57] Visit SpencerEd.org/scholarships. You'll find the different application buttons. See the link in this episode's show notes for more information, giving you some extra homework to do over the holiday break, if you are taking a holiday break! [30:14] Let's Return to the Conclusion of Our Interview with Morgan O'Rourke and Hilary Tuttle!  [30:46] Justin mentions that tariffs in 2025 affect 90% of U.S. imports. That's a supply chain management issue and an ERM issue. Tariffs themselves are an issue. [31:16] What Morgan connects most to tariffs is the uncertainty they create, especially in the way they've been implemented this year. Tariffs are promised, then the terms are changed, creating uncertainty. What level of costs will businesses absorb or pass on to customers? [31:50] Morgan says those things make the business landscape unstable. Tariffs in April would be better than 57 different announcements that change the picture every other week and tend to tank the stock market. [32:20] Morgan says Goldman Sachs estimated in September that 55% of the incurred costs have been passed to consumers, depending on the business. Once it impacts your customers, you've got less revenue coming in. It's an unstable environment. [32:47] Hilary contrasts this year's tariffs with past tariffs. Usually, it's a "set it and forget it" situation. Hilary calls this year's tariffs erratic and confusing. The scale and the frequency of change are unprecedented. [33:31] Morgan says you can feel it when you go to the store. That's not helping from a personal standpoint or a business standpoint. Justin speaks of shrinkflation. [33:47] Tariffs are going to affect inflation. Nobody wants that. [34:22] Hilary speaks of alternate supply chains that are in more friendly tariff environments. Some of the items in your products are going to be different. Some of your processes will be different. You don't know if you're also going to be getting inferior products. [34:52] Morgan says it's not as simple as saying just get a new supplier. That's an operational shift from procurement, on. Hilary says, hopefully, you won't have to do product safety testing or environmental impact studies, or reporting around your supply chain. [35:09] Morgan notes that some raw materials may only be available in five countries, like a rare earth mineral. [35:32] Justin asks if this is explored in depth in the Q4 edition of RIMS Risk Management magazine. Hilary says we are not talking about rare earth minerals in that issue. Morgan is working on figuring out how we can cover that, perhaps, in 2026. [35:53] Morgan is fascinated by this topic. There are limited deposits of things. The broader point is that if you're affected by tariffs and you're trying to change suppliers or sources, you may not have all the options. [36:12] Hilary says it is a situation where the risk is very much there, but the management or mitigation of it is not necessarily something you can do much about. Only so many places make cobalt. Morgan adds, There are only so many mines out there. [36:31] Justin says, The Q4 edition of RIMS Risk Management magazine is out now. This is the last episode of 2025. We're going to have you back to discuss a little bit more in the first episode of 2026. [37:01] Morgan's parting words: "I'm just glad you're listening. I'm glad you're listening. I'm glad you're reading. I'm glad you're here. I feel like it's a privilege to keep writing for you, talking to you, so hopefully, we continue to do that in the new year. Everybody, be safe and happy." [37:14] Hilary's parting words: "Thanks for making it through another year!" [37:18] So, we're going to have you back in January, and we'll pick up there, probably with some cyber and some Data Privacy Day kick-off, January 5th, 2026. [37:35] Special thanks again to Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management magazine and the RIMS Publications Department for joining us on RIMScast. They will rejoin us for the first episode of 2026. That will launch on January 5th. [37:52] Mark your calendar and subscribe to RIMScast through your podcasting app of choice! Visit RMmagazine.com to check out The Year in Risk edition of Risk Management magazine. That's the Q4 edition. This is reporting from the best in the profession. [38:12] You can't get any better than RIMS Risk Management magazine. [38:17] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [38:44] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [39:01] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [39:18] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [39:34] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [39:47] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [39:59] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS Risk Management Magazine: Year In Risk Edition | Feature Article Facilitating Risk-Based Decision Making | Virtual Workshop | March 4‒5, 2026 RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | Jan‒March 2026 Cohort | Led by James Lam RISKWORLD 2026 Registration — Open for exhibitors, members and non-members! Reserve your booth at RISKWORLD 2026! The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management magazine | Contribute RIMS Now Spencer Educational Foundation Scholarships | Submission Deadline Jan. 31, 2026 RISK PAC | RIMS Advocacy RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Series Featuring Joe Milan! Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP Exam Prep | January 14‒15, 2026,  9:00 am‒4:00 pm EST, Virtual Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops "Managing Worker Compensation, Employer's Liability and Employment Practices in the US" | Jan. 21‒22, 2026   Upcoming RIMS Webinars: RIMS.org/Webinars   Related RIMScast Episodes: "Mid-Year Update 2025: RIMS Legislative and Risk Management News" "James Lam on ERM, Strategy, and the Modern CRO" "The Evolving Role of the Risk Analyst" "Presilience and Cognitive Biases with Dr. Gav Schneider and Shreen Williams" "Risk Rotation with Lori Flaherty and Bill Coller of Paychex" "Risk Quantification Through Value-Based Frameworks"   Sponsored RIMScast Episodes: "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL (New!) "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guests: Morgan O'Rourke, RIMS Director of Publications and Risk Management Magazine Editor in Chief Hilary Tuttle, Managing Editor, Risk Management Magazine   Production and engineering provided by Podfly.  

Love the song "Goodness of God"?! You'll love this bonus episode of Over The Rims of Mugs with singer, songwriter, worship pastor Jenn Johnson. Jenn shared with me what inspired her to write that song. She also has a brand new book, "All Things Lovely", and we talk about why she wrote it and how it will help us live holy lives marked by beauty and truth.The beautifully illustrated "All Things Lovely" is the newest offering from well-loved worship leader Jenn Johnson. It's available everywhere books are sold.Follow Jenn JohnsonInstagram: @jennjohnson20Facebook: jenn.johnson.bethelWebsite: brianandjennjohnson.com Did you know you can now watch Over the Rims of Mugs?Visit https://www.wearethebridge.org/mugsvideoPlease share Over the Rims of Mugs with a friend if you enjoyed this episode. Over the Rims of Mugs is still growing, and your positive review and 5-star rating would help.The Bridge Podcast Network is made possible by generous support from The Boardwalk Plaza Hotel and Victoria's Restaurant on the boardwalk in Rehoboth Beach, Delaware - Open 7 days a week, year-round - Learn more at https://boardwalkplaza.comFeedback, or Show Ideas? Send an email to podcast@wearethebridge.orgDownload The Bridge Mobile App to get the latest podcast episodes as soon as they are published!

In this episode of the Second in Command Podcast, guest host Sivana Brewer sits down with Matthew Rathje, Chief Operating Officer of TrueNorth Companies and long-time member of the COO Alliance.From starting in payroll and claims management to leading operations for a $165M insurance and professional services firm, Matt shares his journey of scaling from the ground up, balancing structure, culture, and human leadership. He offers practical insights on bringing clarity and accountability to fast-growing organizations, structuring meetings that actually move the needle, and building trust without falling into “artificial harmony.”Matt also opens up about navigating personal and professional adversity, from weathering the 2020 derecho storm that destroyed his family's home, to leading through COVID-19, and how those experiences shaped his leadership philosophy rooted in humility, collaboration, and optimism.Timestamped Highlights[00:01:20] – Matt's journey at TrueNorth and how he helped the company grow from a local firm to a $165M organization.[00:05:16] – Lessons from moving between individual contributor and leadership roles.[00:07:00] – How TrueNorth's leadership transition inspired a more unified executive vision.[00:09:20] – Preparing to step into the COO role and finding mentors in the process.[00:10:44] – Why Matt joined the COO Alliance and what he learned from peers in other industries.[00:13:00] – Building clarity and accountability through RIMs and RIOs (Relatable Impact Metrics & Objectives).[00:15:00] – Starting TrueNorth's organizational health journey with Patrick Lencioni's Table Group.[00:17:34] – How Lencioni's framework helped the team prioritize what's most important right now.[00:18:46] – Team effectiveness workshops and how vulnerability-based trust builds healthy organizations.[00:20:35] – How to identify “artificial harmony” and address it before it erodes team commitment.[00:24:32] – Balancing collaboration with decisive leadership.[00:26:03] – Structuring meetings for clarity, speed, and results.[00:29:40] – How personal adversity (a devastating storm) strengthened Matt's leadership perspective.[00:33:54] – Leading with empathy, gratitude, and perspective through crisis.[00:38:52] – Building trust and vulnerability across teams.[00:40:31] – Strengthening the CEO-COO relationship and defining complementary strengths.[00:42:42] – Using Vivid Vision to align the entire company around purpose and feeling.[00:46:14] – Launching The TrueNorth Way: the company's roadmap for a world-class client experience.Resources & MentionsThe Apple Experience by Carmine GalloUnreasonable Hospitality by Will GuidaraMeetings Suck by Cameron HeroldThe Five Dysfunctions of a Team by Patrick Lencioni (and the related Five Behaviors of a Cohesive Team framework)About the GuestMatthew Rathje is the Chief Operating Officer of TrueNorth Companies, a Midwest-based insurance and professional services firm dedicated to protecting and maximizing its clients' assets, resources, and opportunities.Since joining TrueNorth over a decade ago,...

The first time I met Brianna Evans, I was actually a guest on HER podcast! Instantly, I felt a heart connection with Brianna, and while she was the one asking all the questions that day, I wanted to turn the mic around and get to know her better!Brianna is a Jesus girl, wife, mom, and fellow podcaster. She says her podcast, “Jesus Take The Mic”, is ‘for the faith-filled and the figuring-it-out'… and don't we all fit in there somewhere?!! I love that she's curious, and she's passionate about Jesus and about helping people connect to Him and to each other.You'll be encouraged and probably filled with a little more joy by the time you wrap up this episode of our time together!Show Notes:Email: Jesustakethemic.team@gmail.comFacebook: https://www.facebook.com/profile.php?id=61577637089100Instagram: https://www.instagram.com/jesustakethemic.podcast/?hl=enPodcast: “Jesus Take The Mic” is available wherever you listen to podcasts!!Direct questions & comments to: podcast@wearethebridge.orgDenise Harper's new book, “Treasured Inside - Devotions With Denise,” is available at Amazon, Apple, Target, and more. For more information, email Denise at: denise@wearethebridge.orgDid you know you can now watch Over the Rims of Mugs?Visit https://www.wearethebridge.org/mugsvideoPlease share Over the Rims of Mugs with a friend if you enjoyed this episode. Over the Rims of Mugs is still growing, and your positive review and 5-star rating would help.The Bridge Podcast Network is made possible by generous support from The Boardwalk Plaza Hotel and Victoria's Restaurant on the boardwalk in Rehoboth Beach, Delaware - Open 7 days a week, year-round - Learn more at https://boardwalkplaza.comFeedback, or Show Ideas? Send an email to podcast@wearethebridge.orgDownload The Bridge Mobile App to get the latest podcast episodes as soon as they are published!