Category Archives: Risk Management

On Being Well Read

I attended a risk management conference last week, and one of my most important takeaways was the need to be more well-read. As a risk management professional, I seek to be more informed about news & current events, global business climate, and important business transactions among other things. Since returning home, this has been on my mind, and I have explored subscriptions to a few publications.

Yesterday morning, during my daily devotional time, the Lord offered up this reminder:

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This is what is most important: to be well-grounded. I must set my foundation on solid ground and let everything that I am be built on that. To be sure, I fully intend to subscribe to a few news and business publications. I want to be that informed, well-rounded individual. But my time in God’s Word comes first. It defines me. It sets the tone. The others will help me be well-rounded; God’s Word will help me be a better man as it keeps me well-grounded.

Soli DEO Gloria!

RIMS 2018: What Did I Learn?

I’ve lost count of the number of national RIMS (Risk & Insurance Management Society) conferences I have attended over the years, but I’m guessing it is around 20 or so. I always come away from the conference feeling a bit melancholy as I am reminded of how important the relationship aspect of this industry truly is and how much I enjoy hanging out with my friends in this crazy and wonderful industry. Here are a few key takeaways from my recent 2018 RIMS experience:

  1. Be well-read. I had the honor of joining Chubb CEO Evan Greenberg for lunch after he spoke at Chubb’s annual leadership luncheon. I am always impressed at his worldliness as he speaks on world affairs, American politics, challenges in business, and Chubb’s strategies. Given the plethora of misinformation out there these days, I asked him, “What do you read?” He responded that he reads three newspapers daily: The Wall Street Journal, New York Times, and Financial Times. He also reads The Economist each week. I have been pondering this ever since, as this is an area in which I can improve.
  2. Relationships are important. In this industry, people prefer to do business with people they know and trust. The purchase of insurance for a large publicly traded organization is an important two-way transaction: While I need to rely on my trading partners to be there if the crud hits the fan, they need to rely on me and my team to manage our risks the way we say we do to mitigate that potential. There is much at stake for both of us. Part of my process is to personally meet every underwriter in my portfolio, and to get to know well those who take on the most significant risk transfer. RIMS offers me an annual opportunity to nurture these relationships, and this is one of the aspects of my role that I enjoy the most.
  3. If you need something, ask. I had a need in my claims program that had not been addressed to my satisfaction. At RIMS I had the opportunity to state my case to senior management of an important trading partner, and within a few days my need was met. One important reason was the foundational relationship between our two organizations and us personally. See number 2 above.
  4. You own your program. We risk managers rely heavily on our brokers for coverage placement and addressing any issues or concerns that may arise. They are an incredibly important leg on this three-legged stool (broker, insurer, client), and I value their experience and expertise. Sometimes, however, we must take ownership of solving a problem, not because our partners are deficient, but because it is my problem; I have the greatest stake in seeing it addressed. See number 3 above.
  5. Never stop learning. I recently joined the Board of Houston’s RIMS chapter. Along with four other Board members, I attended a Sunday morning Chapter Leadership forum led by national RIMS. There was much discussion of the RIMS CRMP (Certified Risk Management Professional) designation. I had heard of it, but never explored it. You see, I am fairly seasoned in my career, I have a graduate degree, and I earned my ARM designation many years ago. “What’s the point,” has been my response to earning CRMP. The point is, retirement is several years out (God willing). I have much work yet to do and my organization deserves the most well-rounded professional I can be. And learning is fun. So I’m going for it.
  6. RIMS is worth supporting. The Chapter Leadership Forum offered the opportunity to learn from many very successful chapters from around the US and Canada. We have great people in Houston and we have a great Chapter but we can be better. I have gained much from my RIMS membership over the years and now it’s time to give back. I’m looking forward to working with my fellow Board members on several takeaways we gained in this session.
  7. Work hard, play hard. OK, it’s not really a takeaway. Those who know me well know how much I enjoy the social aspects of what we do for a living. Yes, it’s fun. But it is also very important. In these social settings, we get to know one another personally. We learn about each other’s families. We talk about life’s struggles. We celebrate life’s successes. We build bonds of trust that are personally gratifying, but also business beneficial. Many who I consider my closest and dearest friends are friends through this industry, and for their friendship I am truly grateful.

I suppose these are not really “learnings” per se. They are reinforcements of things I know to be true and sources of inspiration from which I plan to drive my future success and professional development. Thank you, industry friends and partners, and thank you RIMS for being a very important part of my life. I am blessed.

2015 Photo Some Days – Flu Shot Season

I am blessed to work for a company that provides flu shots for all employees who want them. They also offer shots to family members at a discount. I caught the flu several years ago. It came on really fast while I was at work. By the time I got home I could barely move, and it had me down for a week. Sadly, I know others whose lives were lost at the hands of the flu. Don’t be a victim. Doctor permitting, get your flu shot, too!

Thanks, IMA!

Did you get your flu shot?

Did you get your flu shot?

2015 Photo Some Days – Photobomb for Charity

The semi-finals were hard-fought, even as temps soared into the 90's

The semi-finals were hard-fought, even as temps soared into the 90’s

IMA Dallas’ annual Sandblast charity event took place on September 17, 2015 and was a smashing success. Benefitting Junior Achievement of Dallas and the IMA Foundation, we moved our venue this year to the Sandbar Cantina & Grill in Dallas’ Deep Ellum neighborhood. Several of IMA’s business partners and clients participated in the event. I was particularly impressed with the skill and stamina of many of the volleyball teams, as they continued to play hard as the mercury climbed into the mid-90’s yesterday afternoon.

Sandblast Photobomb!

Sandblast Photobomb!

Of course, we managed to have lots of fun in the process of raising money for these worthy causes. For me, the personal high point of my day was FINALLY delivering my first-ever photobomb! Indeed, I have attempted to bomb many a portrait as the phenomenon has gained in popularity, but have always managed to be busted prior to the shot. This, however, was perfectly timed as two of my coworkers posed for the camera. We work hard at IMA, and I feel particularly blessed to work with a group of good, fun-loving people.

But all joking aside, we raised $15,000 for Junior Achievement, and that is a worthwhile achievement in and of itself. It is indeed a blessing to work for a company that gives so much to the communities in which we live and work.

IMA Sandblast is an annual event. If you have interest in joining us next year, give me a shout. It’s lots of fun and supports a very worthwhile cause.

Sandblast 2015 raised $15,000 for Junior Achievement Dallas!

Sandblast 2015 raised $15,000 for Junior Achievement Dallas!

2015 Photo Some Days – Winds of Change

The parking lot sits empty as CEC's former  home awaits a new tenant. 9.14.2015

The parking lot sits empty as CEC’s former home awaits a new tenant. 9.14.2015

Given my lunch meeting in Irving the other day, I took a few moments to drive around the office building that, until recently, served as the home of Chuck E. Cheese’s Support Center. I’ve enjoyed a successful and rather fruitful career thus far, and CEC is in many respects my favorite stop along my professional journey. During my tenure at CEC I worked with many wonderful people, enjoyed a particularly vibrant and employee-friendly culture, and helped deliver some pretty impressive results along the way.

Things change. In business, ownership sometimes changes as it did at CEC last spring. With that change came new leadership, new people, a new culture, and new opportunities. In my case as with many of my CEC friends, CEC’s ownership change led me to a  new opportunity with another firm. For many colleagues who remain at CEC it led to new digs and a new culture that holds the potential for some nice financial rewards down the road. I wish them well.

Tattered flags on the breeze in front of the former CEC Support Center. 9.14.2015

Tattered flags on the breeze in front of the former CEC Support Center. 9.14.2015

In a way, it’s a bit sad to see this parking lot completely empty with tattered flags flying outside the front door. Seeing those tattered flags blowing in the North Texas breeze reminded me that change, although sometimes painful and often inconvenient, can lead to good things if we simply open our minds and trust God for that next phase in life’s journey.

What’s changing in your life? What is your attitude towards that change? Keep your chin up and trust the Lord. And all will be well.

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