Wednesday, February 12th
Risk Transfer and Insurance Strategies to avoid “The Big One”
Gregory D. Podolak (SDV), Phil Brown-Wilusz (SDV), William Noonan (Alliant Insurance Services), Gregg Woodman (iStar Inc.)
This program will explore risk transfer and insurance strategies to avoid the “Big One,” those losses or lawsuits that can jeopardize the financial health of a company. Companies engaged in business always face risk, but with appropriate foresight, they can better understand, and reduce, the risks that ultimately land at their own feet. This program will look at the various methods of risk transfer, and the common pitfalls, of which contracting parties should be aware.
The program will also explore the role of insurance, and how a comprehensive insurance program, together with appropriate risk transfer, can better protect the insured’s interest. We will discuss some of the specific insurance issues that insureds should be aware of, and the best methods to avoid problems before they arise. Finally, the program will explore some real world examples of large claims and what strategies that should have been employed in order to mitigate the risks of running into a huge loss.