Integrated Risk: Magic or Just Math?

October 17 @ 11:00 am - 12:45 pm

Integrated Risk: Magic or Just Math?
In the same way that an insured can take more risk – generating savings – while controlling aggregate retention and volatility with a structured risk program, an integrated risk program can extend the same concept across multiple lines of cover, driving efficiency across the entire risk program.

An integrated risk program stretches a shared retention across multiple lines of cover, bringing key benefits:

  • Increased retentions save premium
  • Multi-year structure provides critical stability; fixed rate and capacity over a three-year term protect insured from the loss-sensitive nature of the traditional annual renewal cycle
  • A loss financing mechanism may be incorporated in order to protect the insured from the potential volatility of a larger retention
  • Fronting allows for the use of a captive if desired, although not required
  • The opportunity to share in its own underwriting profit
  • Aggregate protection to prevent insured from exceeding its desired risk tolerance across multiple events and losses
  • Could incorporate a combination of Cyber, Financial, Professional, Property, and Casualty lines
Location:

  • Rainier Square, 3rd floor
  • 401 Union Street, Suite 325, Seattle, WA 98101

Pricing:

  • RIMS WA Chapter Members: $20.00
  • Non-Members: $35.00

Are you unsure if you’re a RIMS WA Chapter member or want to become one? Please reach out to: membership@warims.org

Thursday, October 17, 2024

  • Registration begins at 11:00 AM PST
  • Program 11:30 AM PST
  • Attendee Questions 12:30 PM PST
Educational Session Speakers

Peter Lacovara – Aon

Peter Lavocara joined Aon in 2023 as Managing Director of Alternative Risk Transfer & Innovation. Prior to joining Aon, Peter was commercial head of a satellite-based technology company delivering data to the insurance industry. Before his time in insure-tech, Peter was alternative risk transfer leader, and head of parametric insurance for North America at Marsh. Peter started his re/insurance career at Swiss Re, where he held various roles across structured reinsurance, corporate development, strategy, and client management.

Peter has extensive experience working with complex corporates, especially in the development and placement of innovative insurance programs. Parametric wind, earthquake, convective storm, weather, epidemic covers. Global, complex structured risk programs. Multi-line & multi-year programs.

Brendan Kelly – Aon

Brendan is a Seattle-based account executive who specializes in risk management for technology, logistics and transportation firms. He serves as a strategic risk and finance advisor to a broad spectrum of companies, ranging from late state startups to publicly traded multinationals. As an account executive, Brendan is responsible for bringing the full breadth of Aon’s talent, resources and market leadership to bear for his clients. He partners with risk managers, general counsel and finance leadership to develop cogent insurance strategies, and coordinates with Aon team members to ensure consistent, top-caliber execution of those goals.

Brendan has 16 years of experience in commercial insurance brokerage and underwriting, specifically in the fields of cyber and D&O liability coverage. He has managed underwriting and brokerage teams across the western US and has helped customers navigate through several cyclical changes in the global insurance market. He has served in these capacities at Marsh, Wells Fargo, The Hartford, Chubb and others.

In addition to brokerage and underwriting, Brendan is informed by four years of irreplicable experience as an inhouse risk manager. Prior to joining Aon in 2024, Brendan served as Director of Risk at Convoy, a Seattle-based freight technology startup.  As a result of his time at Convoy, Brendan deeply understands the nuance of creating and implementing risk management methodology and cost control, as well as the challenge of championing the risk function throughout an organization.
Thank You to Our RIMS WA Chapter Sponsors!