Tris Felix, Managing Director of CORnerstone Risk Solutions (an IMA Financial Group company).
Sean Behan, Vice President, Managing Director, Risk Finance ＆ Analytics at IMA.
With the hardening insurance market, are you exploring options to self-insure your risks?
When an organization desires to retain a portion of risk which it would normally insure, it triggers issues that need to be addressed such as:
- How should my organization accrue for anticipated claims
- How should I evaluate/determine amounts of loss reserves needed
- How should my organization mitigate the downside risk of adverse claim scenarios
- What insurance regulatory compliance will my organization need to comply with
- What about tax deductibility for claim payments
The presentation will cover basic structures and methodologies of self-insurance, including self-insured retentions, large deductibles, and captive insurance vehicles. Attendees will be able to:
- Identify appropriate self-funding techniques to achieve organization goals
- Understand how different self-funding methods operate
- Understand the pros and cons of various self-funding techniques