Financing of Risk

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$430.00
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Instruction Hours 16
Topics Financing of Risk
Programs Certified Risk Managers (CRM)
Start Date Feb 18, 2020
End Date Mar 12, 2020
Learning Options Online Instructor-Led

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Topics Covered: covered

  • Risk Financing Fundamentals

  • Risk Financing Program Decision Making
  • Methods for Risk Financing
  • Risk Financing Team
  • Alternative Risk Transfer
Accommodations not applicable for Online Courses.

Financing of Risk

Financing of risk can be an intricate and complex task. In this course, you will compare the various financing options presented: non-insurance transfer, guaranteed cost plans, retro plans, dividend plans, pools, and various types of captives. You will learn how to deliver the message to management in present value dollars. We recommend that this course follow Analysis of Risk.

This 16-hour course includes application exercises.

Topics Covered: covered

  • Risk Financing Fundamentals

  • Risk Financing Program Decision Making
  • Methods for Risk Financing
  • Risk Financing Team
  • Alternative Risk Transfer
Faculty

Faculty Name

Wendell Bosen

Bio Detail

Wendell is a Senior Account Executive for Moreton & Company, responsible for providing a variety of risk management services for commercial and public entity clients. He has over 25 years of risk management and safety experience. Wendell is one of six Faculty members for PRIMA's workshops on the international risk management standard ISO 31000. His resume includes nine years as Director, Risk Management for Management & Training Corporation (MTC) a company with more than 10,000 employees in twenty-three states. MTC operates prisons for local, state and federal agencies and Job Corps Centers for the US Department of Labor. Wendell worked six years as Manager of Risk Management Services for Utah's largest public entities liability pool where he helped create a workers' compensation pool. Wendell has a M.B.A. degree from Westminster College, as well as a B.A. in Economics and an A.S. in Chemical Engineering from Brigham Young University. His other professional designations include being a RIMS Fellow, and he has earned his ARM-E/P, CPCU and ALCM designations. He also earned his CRM designation in 2018. Wendell has worked in all three areas of the commercial insurance business: in the Insurance Company, as a Risk Manager, and on the Broker side. Wendell's additional contributions to the industry include presenting at national conferences for the US Department of Labor (DOL), Risk and Insurance Management Society (RIMS), American Society of Safety Engineers (ASSE), and Public Risk Management Association (PRIMA). Wendell has taught risk management and insurance classes for the local CPCU chapter and a small private college. He is excited to promote Risk Management as a CRM Faculty for The National Alliance.

Faculty Name

Michael Scott

Bio Detail

Michael T. Scott is an attorney at Allison & Mosby-Scott where he heads the firm's Business Law practice and serves as President of Allison & Mosby-Scott Risk Management, the firm's risk management consulting practice. Michael's practice areas include business and commercial litigation; business organization and transactions; mergers and acquisitions; ERISA; contracts; and captive insurance company taxation, formation and regulation. Michael leverages his 22 years of legal experience and his unique skills as a strategic thinker and problem solver to help clients solve complex legal and risk management issues and to achieve their strategic goals. Prior to joining the firm, Michael was Vice President, Insurance & Risk Management at Archer Daniels Midland Company (ADM) and President and General Counsel of Agrinational Insurance Company, the captive insurance company of ADM. Under his leadership Agrinational became one of the most admired captive insurance companies in the world. Agrinational was named the 2012 Captive Insurance Company Association Outstanding Captive award winner as well as the 2012 World Captive Forum Award of Excellence winner. Agrinational was also one of the ?rst companies to receive Department of Labor approval to reinsure US employee bene?ts. Michael also has extensive experience in business formation, M&A, regulation and risk management. He oversaw the acquisition of a crop insurance MGA, its growth to $500 million of gross written premium, and ultimately its sale for a gain of $120 million. He was also responsible for the formation and operation of an Illinois captive insurance subsidiary and the acquisition and operation of an Arizona insurer licensed in 42 states. Michael is a frequent speaker on risk management, insurance, and captives and is a published author who has served on many boards. He served as a Director and member of the Audit Committee of United Insurance Company, a Cayman Island insurer, served on the Chubb and Swiss Re Client Advisory Panels and currently serves as a Director for the Captive Insurance Companies Association. He has also served in leadership roles at the American and Illinois State Bar Associations. Prior to his time at ADM, Michael served as a corporate attorney for State Farm Insurance Companies in Bloomington, Illinois. In addition to being licensed to practice law in the State of Illinois, Michael holds the CPA, CRM, CPCU, CLU, ChFC, FLMI, ARM, ARC, AIC, AMIM, ARe, AIAF, AU, and CGMA designations. He is a graduate of the University of Illinois and Southern Illinois University School of Law.