Financing of Risk

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$430.00
Available
Seats Available
More Information
Instruction Hours 16
Topics Financing of Risk
Programs Certified Risk Managers (CRM)
Start Date Nov 02, 2020
End Date Nov 11, 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

David Hershey

Bio Detail

David Hershey is the Corporate Risk Manager for Sprague Operating Resources, LLC and Lexa International. Collectively, a $5+ Billion (USA) and $5+Billion European global diverse organization consisting of petroleum wholesale and distribution, wastewater treatment equipment manufacturing, lumber recycling, medical product manufacturing, residential water purification and softening equipment manufacturing, college student housing, telecommunications, petrochemical, food, lifting equipment, pump manufacturing, bearing & transmission manufacturing, auto parts distribution and the exclusive European distributor of Fuji film. Prior experience includes the role of Risk Manager for Sotheby Holdings, NYC one of the world's premier auction houses and Day & Zimmermann, a large international military contractor providing base and supply support services. David is current President of the Massachusetts RIMS Chapter, Board Member of the NH CPCU, a published author of several pollution coverage and insurance related articles such as Finite Risk, The Risk Management of Brownfields, Pollution Liability Coverage Loopholes, Maritime Employers Liability, Indemnitees, Additional Insured and the Insurance Certificate. Other accomplishments include being a finalist as the manager of the Workers' Compensation Best Managed Workers' compensation Program sponsored by National Underwriter and recipient of the 2014 Risk Management All Star and the Risk Manager Responsibility award by Risk & Insurance and Liberty Mutual. Other notable accomplishments include instructor of insurance related courses and the Insurance Library of Boston and the Philadelphia Insurance Library, expert witness, past Board Member of RIMS External Affairs Committee, current member RIMS Standards & Practices Committee, 2009 winner of Zurich Award for largest decrease in WC claims, co-author of RIMS Claims Handling Guidebook for Risk Managers, current member of the Association of Certified Fraud Examiners, and proficiency in nuclear liability, munitions manufacturing and international coverage placement and coordination, large casualty, program agreement negotiation, risk financing and pollution coverage.

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.