Weighing in On Obesity: Steps for Risk Managers to Tackle Rising Costs (Presented by: Adelson, Testan, Brundo, Novell & Jimenez (ATB))
By latest estimates, some two-thirds of American adults are overweight or obese. The American Medical Association recently classified obesity as a disease, which might subject workplace practices to further scrutiny by plaintiff's attorneys and advocacy groups. Risk managers and their employers recognize that employee obesity drives up workers' comp expenses, employee healthcare and disability costs, and hurts productivity. With an imperative to manage costs, they need answers. This session examines obesity in the workplace and outlines proactive measures for risk managers to manage these rising costs. The discussion looks at the potential fallout from AMA's classification of obesity as a disease and outlines steps for risk managers to tackle this exposure, including: more effective management of workers' comp claims involving obesity as a comorbidity; teaming with HR on wellness initiatives; more effective benchmarking techniques; taking advantage of incentives under Obamacare; obesity data collection, and using tools such as CDC's obesity calculator to analyze obesity's impact on costs and establish baselines for determining ROI on wellness and related workplace obesity initiatives. (This program will be available to RIMS chapters throughout the U.S.)
Sessions available to All RIMS US Chapters in the 48 contiguous states
Risk Manager's Guide to Navigating California's SB 863 (Presented by: Adelson, Testan, Brundo, Novell & Jimenez (ATB))
California's latest attempt at workers' comp reform focuses on bringing greater efficiency to the state's system. However, employers with operations in the state need to understand the changes under SB863 in order to effectively manage their comp programs. This session examines three elements of SB863 with the widest potential implications for employers – medical treatment, indemnity, and medical liens. Focusing on these areas may mean the difference between cost savings or increases in an employer’s risk program. Notably, SB 863 aims to provide cost containment and savings by utilizing medical provider networks and independent medical review boards, changing statute of limitations for liens, and adjusting bill review procedures. Yet, lack of implementation, inadequate understanding of SB863’s cost containment measures, and mandated increased permanent disability benefits ultimately may drive employer risk costs up rather than down. (This program will be available to RIMS chapters throughout the U.S.)
Sessions available to All RIMS US Chapters in the 48 contiguous states
Improving Your Game Plan for Managing Litigation Costs in Workers' Compensation (Presented by: Adelson, Testan, Brundo, Novell & Jimenez (ATB))
Litigation represents one of the largest cost components of any workers’ compensation program, as well as one of the most difficult to manage. The silver lining is that reducing these costs can have a profound effect on the overall costs of any organization’s workers’ compensation program. This session takes a close look at the key challenges risk executives face in controlling litigation costs and provides a checklist of proven strategies and tactics for employers to achieve exceptional results. The session examines key considerations in bringing legacy and complex cases to closure, as well as tools to measure performance of law firms and individual attorneys. Learn how law firms are typically structured to handle workers’ compensation assignments so you can provide more effective direction and drive results. While sharing information with your providers can help speed success, learn what types of data you should share, with whom and the best ways for doing it. The discussion will account for differences in resources, needs and challenges for various types of employers, including organizations with substantial operations across multiple states and those with more consolidated geographical footprint. As a result, everyone will come away with the insights they need to develop or refine their game plan for reducing litigation costs.
Sessions available to All RIMS US Chapters in the 48 contiguous states
Increasing the Impact of Risk Management with your Organization (Presented by: Advisen Ltd.)
Leading risk managers are delivering compelling insight to executives and board members regarding their organizations’ risk portfolio and the financial implications of their combined risk transfer, risk retention and risk mitigation program. Attend this session to learn how the nation’s top risk managers deliver compelling Executive Management information. Session available in the Tri-State area (NY, NJ, CT)
Managing Property Valuation Issues in Today's Insurance Market (Presented by: American Appraisal)
This session will discuss a best practice property appraisal process from review of current values to the commissioning and receipt of the valuation consulting report. You will learn about the insurance market forces that are driving the demand for supportable values; how to conduct your own initial diagnostic review of your current property values; and the use of appropriate selection criteria for valuation consultants. The session will also highlight the optional levels of service appropriate for valuing properties in both public and private entities, and the structuring of an affordable appraisal program over a numbers of years. (Note that the session would be customized to address construction and equipment cost trends specific to the particular chapter, and all data would be updated to the most current available.) Sessions available to All RIMS US Chapters in the 48 contiguous states as well as Canada.
NEW! Everything a Risk Manager Needs to Know About D&O Liability and Insurance (Presented by: Anderson Kill) While D&O insurance provides essential liability protection to directors, officers and companies, the claims process is a minefield for policyholders. A risk manager needs to know which policy provisions to insist on and which to avoid as well as how countering typical insurance company defenses once a claim is filed, and how to keep an insurance company on board while settling a suit. This session will cover these essentials. Key policy language issues include “severability” of coverage for insurers not implicated in wrongdoing; priority of payment provisions when multiple parties are all seeking coverage; and the scope of “bad acts” exclusions. Settlement issues include satisfying the insurer’s desire for information and right to “participate” in a settlement, as well as whether settling with the primary insurance company can arguably endanger excess coverage.
NEW! What Every Insurance Professional Should Know About Insurance Coverage (Presented by: Anderson Kill) Most insurance professionals know in some detail the types of coverage their companies or clients need and various formulae for determining how much coverage to buy. What's all too often not so widely recognized are the types of policy provisions that often spell the difference between coverage and no coverage; the kind of persistence required to get a claim processed and paid in full; and the lengths an insurance company will typically go to wear a policyholder down and force it to accept either half-a-loaf or no bread. This session will walk a risk manager and broker through the minefield, detailing key issues of policy language and effective claims handling techniques from loss valuation to short-circuiting insurance company delays to insisting on partial payment when the loss amount is in dispute.
What Every Risk Manager Needs to Know About Data Security (Presented by: Anderson Kill)
Data security breaches continue to dominate the headlines, with more and more businesses, governmental authorities and other organizations falling victim. Now news comes that data breaches are actually under-reported. Thus, the problem is even worse than currently thought. To equip risk management professionals for this ever-growing threat, this session will examine key measures that businesses must take to protect themselves and comply with the law, including how risk managers can better work with their IT departments and in-house counsel, how best to deal with a data breach, and providing an overview of the types of losses that a serious breach will entail so that risk managers can make more informed assessments of this peril and adjust their risk management strategies and insurance purchases accordingly.
Business Interruption Boundaries (Presented by: Aon Global Risk Consultants)
What are the limitations of the business interruption contract, and how can you maximize opportunities for recovery within the four corners of the policy? This program can be tailored to the level of experience expected in the audience. A team of Dempsey Partners
Experienced claims preparations experts will focus on either the basics of the
business interruption contract, or on more complex ideas and recent examples…or both.
• Circumstance and cause limitations --‐ what triggers business interruption cover?
• Understanding the measurement formulas in the policy.
• Opportunities and limitations of the various business interruption coverage extensions.
• Grey areas to negotiate--‐recent examples of disputes, and how they were successfully
o The Attraction Properties clause
o Calculation and negotiation of a 3 day waiting period or 3% deductible
o Residual value –getting to a fair resolution
Sessions available to all RIMS Chapter (including Mexico & Canada). This session is available in Spanish.
Crime Pays: Recovering Employee Dishonesty Claims (Presented by: Aon Global Risk Consultants) An organized crime investigator and a forensic accountant discuss strategies to maximize recovery of employee dishonesty claims, including:
· Tips for a productive investigation, coverage and legal pitfalls to be avoided.
· properly documenting liability and damages,
· working with law enforcement and negotiating a successful settlement with your bond carrier
Property Insurance Program Potholes (Presented by: Aon Global Risk Consultants) Property insurance policies are very complex documents. When putting together programs and policies to cover an organization’s physical assets and resulting time element losses, there are common “potholes” in these contracts that risk managers need to be aware of. Many of these can be eliminated with thorough negotiation, communication and documentation of the coverage terms and conditions. This program will help risk managers identify, avoid and fix the common potholes and minimize surprises in the event of a loss.
Determining Injury Causation: Biomechanical Engineering for the Risk Manager (Presented by: ARCCA)
Risk Professionals deal with bodily injury claims every day resulting from vehicle collisions, slips & falls, product use and industrial accidents. In some cases, the description of loss does not account for the claimed injuries. This session takes a biomechanical analysis of events and injuries to determine whether there was an injury mechanism present that could have caused the claimed injuries.
NEW! Increasing Vendor Insurance Compliance- The Effect of Best Practices People and Process (Presented by: CertFocus) Not only does vendor insurance compliance require administrative personnel to handle the daily clerical to-do’s and follow up activities that proper risk transfer demands, but it also takes the Risk Manager’s focus away from the strategic initiatives and other critical risk management functions that demand and deserve his or her full attention. How can Risk Managers still make risk transfer a priority, get it done right, increase vendor compliance, but still keep up with the work load.
· Today’s corporate environment requires total compliance in regard to assuring risk transfer
· To garner the highest level of vendor compliance possible, it takes a strategic approach
· As an indication of just how important risk transfer is, brokers are now spending millions of dollars in additional services (aside from insurance marketing) to their clients in order to further protect their clients’ interests
· On the corporate side, Risk Managers are spread so thin but yet realize that most claims could have been mitigated if the vendor insurance review was managed more effectively
The presentation/think tank, will focus on strategies and tactics focused on improving vendor insurance compliance... as opposed to the rote skill of simply tracking certificates.
· What does this mean
· What are best practices
· How to get the highest compliance levels, with the least amount of time spent
Business Continuity Management for Risk Managers (Presented by: DRI International)
This program provides risk managers and professionals with a better understanding of the issues surrounding Business Continuity Management (BCM) and a starting point for understanding how BCM relates to Risk Management in general. The regulatory landscape, the business continuity continuum and context with enterprise risk management are highlighted and evaluated using real world examples. Sessions available to all RIMS Chapters (including Mexico & Canada). This session is available in Spanish.
Disaster Preparation and Business Recovery (Presented by: Ernst & Young) Recent catastrophic events around the world have highlighted the critical nature of planning for and executing after catastrophic events. Companies that prepare and react effectively during times of crisis to protect key resources, restore operations and recover financially will have an advantage over their peers. This session combines the experience of professionals dedicated to assisting companies with disaster recovery and claims along with results from E&Y’s 2011 Catastrophic Claims Survey to provide practical insight into how companies around the world are preparing for and responding to catastrophic loss. Sessions available to all RIMS Chapters in the 48 contingent states.
Business Continuity and Catastrophic Event: What Your Peers are Saying (Presented by: Ernst & Young)
Recent catastrophic events around the world have highlighted the critical nature of planning for and executing after catastrophic events. Companies that prepare and react effectively during times of crisis to protect key resources, restore operations and recover financially will have an advantage over their peers. This session combines the experience of professionals dedicated to assisting companies with disaster recovery and claims along with results from E&Y’s Catastrophic Claims Survey to provide practical insight into how companies around the world are preparing for and responding to catastrophic loss. Sessions available to all RIMS Chapters in the 48 contingent states.
Supply Chain Risk and the World Economy (Presented by: Ernst & Young)
As companies grow, acquire and move toward more complex, global supply chains, the risk that they acquire or create grows and changes as well. Without proper identification of supply chain complexities, companies could improperly identify and measure their risk and either overpay premiums or, worse, underinsure the risks they face. Learn to identify risk factors, contingencies and interdependencies and measure those risks. Recent global shed a spotlight on the risk that a global economy and global supply chain can have on business and the insurance industry. Sessions available to all RIMS Chapters in the 48 contingent states.
What is Subrogation and Why is it Important? (Presented by: Gitter & Associates)
This presentation is designed to draw attention to the importance of pursuing subrogation recoveries on Workers’ Compensation claims. This session also provides attendees detailed information about what attendees need to know about how to pursue subrogation recoveries. Sessions available to All RIMS US Chapters (including Hawaii & Alaska).
Workers’ Compensation Large Loss and Catastrophic Claims Settlement (Presented by: Gitter & Associates)
This presentation focuses on the components, valuation and negotiation techniques that can be employed to bring resolution to workers’ compensation cases. The discussion includes the various aspects of a case including indemnity, medical, non-medical items as well as a brief discussion and history of Medicare Set-Asides. Various strategies are outlined and approaches/methodologies for resolving ongoing high exposure claims. Sessions available to All RIMS US Chapters (including Hawaii & Alaska).
*However, it is not recommended for Minnesota, New Hampshire, Nevada, Washington (state), Montana, Oregon, Texas or South Dakota as they do not allow for the settlement of future medical claims.
Natural Catastrophe Management Lessons from Recent Hurricanes and Earthquakes (Presented by: Global Risk Consultants)
First hand lessons learned from recent disasters that caused significant property and business interruption loss to businesses and industries, including earthquakes in Italy, Japan, China, Mexico and Chile, and hurricanes along the Gulf Coast of the United States. In addition, a proactive approach to catastrophe risk management, related successes and failures, and natural hazards software applications and limitations will be discussed. Sessions available to all RIMS chapters including Mexico and Canada.
NEW! Vendors and Security (Presented by: Identity Theft 911) Your technology service providers are an important part of your information security program. Learn the most critical aspects of vetting and engaging those vendors that access, store or transfer your protected, sensitive or confidential information.
NEW! Turning Risk Into Profit (Presented by: ReedSmith) This program will discuss how Risk Managers can work with Legal Departments to identify areas in which the corporation can pursue claims that it has against outside entities. In addition to insurance and indemnity, we will discuss claims arising from intellectual property, commercial contracts, and acquisitions andbeyond.
NEW! Don’t Sell Out Your Directors and Officers If You Sell Your Company: The Role of Risk Management in Corporate Transactions (Presented by: ReedSmith) If your company is acquired, there is a very great likelihood your directors and officers will be subject to litigation for their actions before and during the transaction (and even potentially after the transaction). It is critical that the company and its directors and officers have the right insurance coverage to protect their assets when faced with such claims. Almost all purchase agreements will require one of the parties to the transaction to obtain “run off” or “tail” insurance for the directors and officers of the company being sold, yet many insurers do not even have standard forms for this coverage, and this coverage may be negotiable. This program will help guide risk management professionals through these issues: (1) what questions can risk expect to be asked when a corporate transaction (acquiring or selling) is on the horizon? (2) what is the role of risk management during the transaction? (3) what are best practices in negotiating “run off” coverage? (4) what can risk management do at policy renewal time to put the company and its directors and officers in the best position if the company is acquired? This program will be of great interest to any risk manager working for a company with the potential to be acquired or for a company that is acquisitive. In addition, this guidance is equally important in the event the company becomes insolvent.
NEW! Bad Faith in Insurance Disputes- the Line between Sharp Practices and Bad Faith (Presented by: ReedSmith) The program examines what courts consider bad faith, in three contexts: (1) third-party liability claims; (2) first-party property claims and (3) insurance litigation. The focus of the program is on what actions by both insurers and policyholders courts will consider bad faith and what actions are allowed. It will also examine the repercussions to insurers and policyholders for acting in bad faith.
NEW! Representations and Warranties Insurance (Presented by: ReedSmith) Not so long ago, many risk professionals’ dubbed Reps & Warranties insurance an urban legend: you heard about it frequently, but never actually knew anyone who purchased or placed it. There is a new breed of Reps & Warranties insurance, however, and we have negotiated two policies that were instrumental in completing acquisitions. The new products get rid of (or minimize) some of the old complaints about Reps & Warranties insurance: it slowed down due diligence, the premium was too high and the coverage was too narrow. This coverage is of interest to private equity firms and others in the mergers and acquisitions arena.
RISK PAC-A Risk Management Tool for Risk Managers (Presented by: Risk and Insurance Management Society)
One of RIMS most exciting new initiatives for 2011 is the creation of RISK PAC, a political action committee created for the purpose of advancing the discipline of risk management through public policy. This session will provide information on political action committees in general, the purpose and necessity of having an effective political action committee, and background on RIMS decision to create RISK PAC. Members will also learn about the structure of RISK PAC and how the PAC fits into RIMS goals going forward. This session is available only to Chapters within the 48 contiguous states.
RISK PAC -Terrorism Risk Insurance Act (TRIA): Why Risk Managers Need to Get Involved Now (Presented by: Risk and Insurance Management Society)
The Boston Marathon bombing. The Kenyan mall massacre. The U.S. consulate attack in Benghazi. The threat of terrorism is still very much a reality, both in large metro areas and smaller cities and towns. In the aftermath of September 11, the U.S. Congress created the Terrorism Risk Insurance Act (TRIA) with the purpose of providing certainty to the terrorism insurance marketplace. While TRIA is set to expire at the end of 2014, it is critical that you understand its importance. Review how the TRIA program works; why it was created; how it has changed over time; and the impact of its potential expiration. Discuss why terrorism risks are unlike other catastrophic risks and the politics surrounding TRIA.
This session is hosted by RIMS External Affairs Committee.
• Gain an understanding of why the TRIA program was created and how it works.
• Appreciate the program's importance to risk professionals, the industry and the economy as a whole.
• Determine ways you can get involved in advocating for a long-term extension of the program.
This session is available only to Chapters within the 48 contiguous states. This session will not be available from May 15-June 15th.