Podcasts & Blogs

The topics of cyber risk and cyber security have been around for a while, but wrapping our heads around these topics seems to be something with which many of us public risk management professionals struggle.

Additionally, the person who will serve as pilot of the drone needs training and certification as a remote pilot, which involves classroom or online training and completion of a test. If the individual is already a private pilot, recreational pilot or sport pilot that will suffice.

In this blog, we will discuss allocated expenses. According to IRMI, allocated expenses (ALAE) are defined as loss adjustment expenses that are assignable or allocable to specific claims.

The industry, using the RFP and spreadsheets, has done a good job of holding unallocated expenses steady over the past 15 years. As a result, the claims fee now covers approximately 60% of a TPA’s expenses, such as investments in technology, and the overall rise in expenses (e.g. benefits) facing businesses today.

Whether you are trying to convey policies, proper methodologies, expectations, or coaching, the ability to communicate effectively often proves to be a limiting factor for many people – especially managers and supervisors.

Well-known and understood among underwriters is the challenge of the investment environment, which has been disrupted continuously since the recession beginning 2008 with returns being artificially suppressed by the federal government’s economic strategy. This fact only exacerbates the reality of the conservative investment limitations already imposed on the industry by regulators.

I recently had the opportunity to mingle with public entity risk managers from across the country at the national PRIMA conference in Atlanta. I took the opportunity to ask those I met (as often as I could, while trying not to be too annoying), “How can we reduce law enforcement auto accidents?”

Municipal insurance pools are an excellent example of local governments working together to create efficiencies, preserve resources, and create value.

As a manager for a municipal pool, I offer my Top 10 Trending Issues for Pools…

When elected officials truly incorporate risk management as a way of conducting business, property claims are reduced, lawsuits don’t get filed against the agency, and employees are safer. When risk management is not a component of every decision, bad things can happen.