RIMScast

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Kiersten Cash regarding the May 6th RISKWORLD session that she is co-presenting with Frank Wickersham, a Workers' Comp defense attorney, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation Insurance, Legal, and Regulatory." Kiersten shares the biggest misconception risk professionals have about medical marijuana in Workers' Comp. She discusses the conversation around cannabis and workplace injury. Justin and Kiersten talk about the growing patchwork of state laws on cannabis and what risk managers should be paying close attention to right now. Kiersten explains the concerns about Workers' Comp paying for medical marijuana. She gives a preview of what to expect in her RISKWORLD session. Listen for insights about the problems of marijuana as a treatment option in Workers' Comp. Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. Our guest is Kiersten Cash. She is the Senior Manager for Workers' Compensation and General Liability at the Children's Hospital of Philadelphia. She's going to talk to us all about medical marijuana and Workers' Compensation Claims. But first… [:58] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:14] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:29] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:47] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:02] Head over to RMMagazine.com for the Q1 Edition of the Azbee-Award-winning publication, RIMS Risk Management Magazine. [2:15] On with the Show! Our guest today is the Senior Manager for Workers' Compensation and General Liability at the Children's Hospital of Philadelphia, Kiersten J. Cash. She's here to discuss what's going on with medical marijuana and Workers' Compensation claims. [2:31] This will serve as a bit of a preview of her session at RISKWORLD on May 6th at 10:15 a.m. in Room 120-BC, "Reefer Madness: Still in the Weeds with Medical Marijuana and Workers' Compensation." [2:43] We will discuss whether cannabis is still an effective treatment for chronic pain due to workplace injury and what could happen if the U.S. Government were to change its schedule from number 1 to number 3. [2:54] We're going to learn about Kiersten's fascinating work and her career. Let's get to it! [3:00] Interview! Kiersten Cash, MBA, welcome to RIMScast! [3:23] Kiersten is with the Children's Hospital of Philadelphia, or CHOP. Kiersten Cash has a session at RISKWORLD, "Reefer Madness." [4:27] Kiersten has been in the world of Workers' Comp for a little over 20 years. She started as an adjuster. She adjusted national market claims and middle market claims for 10 years. Then she went to the broker side. [4:46] She managed the claim program for the broker's largest client at the time, along with 23 other claim programs, covering all lines of insurance. Next, Kiersten worked for Devereux Advanced Behavioral Health, a residential treatment facility. [5:06] Then Kiersten moved to CHOP, where she manages all of Workers' Comp, General Liability, and Auto for the health system. [5:22] Kiersten says Workers' Comp is one of those industries where you kind of fall into it. In the final year of her graduate program, she needed a job. She met someone who worked at Liberty Mutual, who said they were hiring claims adjusters. She took the job. [5:44] Kiersten says she tried to get out of this industry on numerous occasions, but the industry apparently loves her too much. She's glad she stayed because she really likes where she has ultimately landed, CHOP. [6:52] Kiersten is a member of the Delaware Valley Chapter of RIMS, the oldest RIMS chapter. RIMS is 76 years old. The chapter is 75 years old. Chapter President Tom Armstrong was on RIMScast recently, excited about all the cool things the host chapter is doing for RISKWORLD. [7:44] Justin asks what Kiersten feels is the biggest misconception risk professionals have about medical marijuana and Workers' Compensation. She thinks the biggest misconception is that there is a d

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Anderson Kill Shareholder Joshua Gold on the May 5th RISKWORLD session that Joshua is co-presenting with RIMS Past President Lance Ewing, "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." Joshua shares knowledge on two of his areas of practice, cyber and maritime insurance. Joshua offers some insight into these newest and oldest of practice areas, and how they have begun to intersect. Maritime insurance carries special language and rules, and Joshua and Lance will cover those and answer attendee questions in their session. Justin and Joshua discuss current maritime threats in the Middle East that will likely be discussed in the session. Justin and Joshua comment on Law Day, an annual commemoration of law on May 1st. Listen for a greater understanding of maritime shipping insurance and the importance of promptly filing claims. Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. We will be joined by RIMS Risk Management Magazine contributor Joshua Gold, Shareholder at Anderson Kill. He's making his RIMScast debut to discuss Marine and Cargo Risk. This is timely. But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:48] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:03] Head over to RMMagazine.com for the Q1 Edition of the Azbee-Award-winning magazine, RIMS Risk Management Magazine. [2:15] On with the Show! Our guest today is a shareholder at the law firm Anderson Kill. You've seen his byline in RIMS Risk Management Magazine, and you've seen him on RIMS stages regionally, nationally, and globally. [2:30] Joshua Gold is here to discuss marine and cargo risks generally, and how he will be co-presenting a session at RISKWORLD on May 5th, called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." [2:50] He will present that alongside RIMS Past President Lance Ewing. We expect that session to be highly attended. Joshua is here to give you a preview of that session, talk about how cyber can intersect with marine and cargo risk, and offer some practical risk management takeaways. [3:11] Law Day is coming up in the U.S. on May 1st. Joshua has been practicing law for three decades. We'll find out what Law Day means to him in 2026. Let's get to it! [3:24] Interview! Anderson Kill Shareholder Joshua Gold, welcome to RIMScast! [3:51] Joshua says RIMS is an amazing system for sharing information and education. Joshua couldn't be prouder to be speaking at RISKWORLD 2026. [4:13] Joshua has written for RIMS on topics from cyber to marine insurance. Joshua thinks that cyber risk management is fascinating because cyber is new for many policyholders, in terms of implications, perils, how insurance will respond, and what the products are. [5:15] It's fascinating to see the intersection of technology, insurance, and law. It all comes together in cyber. These perils may be getting more perilous over the next few years before we may start turning the corner. [6:00] Joshua's session on May 5th at RISKWORLD is called "Do Not Let Your Cargo Claim Go Down with the Ship: Tips to Improve Marine Insurance Protection." Joshua will present with former RIMS President Lance Ewing. [6:17] Joshua says he is in both the newest thing in insurance and law, cyber, and the oldest thing in insurance and law, marine. Most of his day-to-day focus is on either end of the spectrum. [7:16] As much as Joahua loves cyber, he is intrigued with maritime insurance and maritime law. It's esoteric and old. It has special rules. If you don't deal with this type of insurance and law regularly, it can be challenging. [7:46] The insurance companies are typically very well-versed in the insurance rules and doctrines. Most policyholders are much less so. There's an information imbalance. [8:00] Joshua always looks forward to educating risk managers abou

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Tom Armstrong, a Global Risk Director for Comcast and the President of the RIMS Delaware Valley Chapter. Tom shares what inspired him to pivot from studying music education to studying risk and insurance, and how his professors guided and inspired him into a career in risk management. Tom went directly from graduation into a risk management role, eventually landing at Comcast just as it acquired NBCUniversal, transforming from an ISP and cable supplier into a multimedia and theme park powerhouse. Tom discusses how the Risk Management Department works at Comcast. Tom tries to build long-term relationships with his interns that endure when they move on. The RIMS Delaware Valley Chapter is the host chapter for RISKWORLD 2026, held from May 3rd through the 6th in Philadelphia, Pennsylvania. The chapter is also celebrating its 75th Anniversary. Tom shares his enthusiasm for these events and for a member reception on May 1st, linking the chapter's 75th Anniversary to RISKWORLD. Listen for ideas on advancing in your risk career and in your RIMS chapter. Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:28] About this episode of RIMScast. Our guest is Tom Armstrong. He is a Global Risk Management Director at Comcast. He is also the President of the Delaware Valley Chapter of RIMS, which is celebrating its 75th Anniversary. Lots to discuss! But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for webinars at RIMS.org/webinars and through the links in this episode's show notes. [1:47] Folks, for more RIMS content, head over to YouTube and subscribe to @RIMSOfficialChannel. There you will find video podcasts, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. [2:05] On with the Show! Our guest today is a Director of Global Risk Management at Comcast. He oversees construction, crime, contracts, and executive risks. [2:16] We will learn what it takes to be a Global Risk Director for one of the top communications companies in the world, as well as a household name and brand. [2:27] We're also going to talk about all the joviality surrounding the Delaware Valley Chapter as they celebrate their 75th Anniversary. They happen to be the host city for RISKWORLD 2026, so we'll learn what they have in store for us. Let's get to it! [2:43] Interview! Tom Armstrong, welcome to RIMScast! [3:10] Tom says he is fortunate to hold the positions of Global Risk Director for Comcast and President for the RIMS Delaware Valley Chapter. In each case, he is one of a team that makes it happen. [3:47] Tom shares his career path. He went to Temple University intending to major in music education, to learn to conduct high school choirs and marching bands. After two and a half years into his degree, he decided it was not for him. [4:11] Tom transferred to the business school, where he was fortunate to take an Introduction to Risk course taught by Professor Barbara Manaka, now Chairman of the department there. She told him he'd make a great risk manager. [4:27] With help from Professor Manaka, Professor Robert Drennan, and the rest of the wonderful staff at Temple, Tom finished his four-year degree in only five years! He was one of the few to be hired into a risk management role straight out of school. [4:43] He started at CDI. In 2008, the position was eliminated, and Tom moved over to Aramark. He spent about three and a half years at the risk department. Then he got a call that Comcast was looking for someone to help them with the review of insurance language in contracts. [5:01] Tom was a contractor for his first 18 months at Comcast. A new risk manager came on board, Sandy Aspinall, and he brought Tom in-house as a senior analyst to review insurance language in contracts. [5:24] Tom was able to add on some additional scope, supporting construction, property, executive risks, the crime program, and whatever comes up that needs some support. Like the rest of the team, he's happy to step up. [5:57] Tom says that he never had a great talent for music. What he really liked was the community that a marching band or a choir brought to him as a kid in high school. He has found t

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Ralph Exton, Executive Director of the Water Environment Federation, about World Water Day, March 22nd, and the importance of water governance. WEF is a UN Water Partner, focusing on water access and gender equality. Justin and Ralph discuss the Value of Water Campaign and the Circular Water Economy. Ralph mentions other water organizations that the WEF promotes and supports. They discuss how water governance is a board-level issue, along with cybersecurity and financial risk. They explore ways organizations can participate in World Water Day. Listen for ideas on elevating water governance in your organization. Key Takeaways: [:01] About RIMS and RIMScast. [:14] Public registration is open for RISKWORLD 2026, which will be held from May 3rd through 6th in Philadelphia. Visit RIMS.org/RISKWORLD to register. [:27] About this episode of RIMScast. We will be joined by Water Environment Federation Executive Director Ralph Exton. He's here to talk about the circular water economy ahead of March 22nd, which is World Water Day. This is probably my favorite topic! But first… [:59] RIMS Virtual Workshops. The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:13] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:30] Webinars. The "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" Webinar, spotlighting women leaders in risk and construction, was rescheduled to March 20th. [1:42] The registration link is in this episode's show notes. You will have to register again if you have previously done so. [1:48] On April 16th, Zurich and World Travel Protection will present "Navigating the New Global Risk Landscape: Lessons for Business Travelers in Unstable Times". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:05] On with the Show! Our topic is water risk management, and we are joined by the Executive Director of the Water Environment Federation, Mr. Ralph Exton. He has decades of professional experience with water risk. [2:19] He is here to discuss what the Water Environment Federation refers to as the Circular Water Economy, WEF's Value of Water Campaign, responsible water risk management, and World Water Day 2026, which emphasizes water access and gender equality. Let's get to it! [2:40] Interview! Ralph Exton, welcome to RIMScast! [2:48] Ralph Exton, Executive Director of the Water Environment Federation, joins us for this World Water Day episode of RIMScast. [3:29] Ralph Exton's career started with water. As a newly graduated mechanical engineer, his first assignment was to manage and supervise the water operations at an industrial facility. He says he had no idea what he was doing. He had wanted to work on robots. [4:57] Ralph says it did not take long. Once you understand how important water is to an industrial operation, you realize how important water quality is to the environment. Everyone knows how important water is from a personal standpoint. [5:28] When you understand those bigger factors, it becomes inherent in the way you think about your job and career. Ralph tells people, once you get your hands wet in water, they'll never be dry. [5:55] Ralph's entire career has been water. The early part of the career was operational and industrial. Then he worked for water technology companies, and eventually for the largest water technology and servicing companies in the world. He lists some of the global companies. [6:37] Ralph says that a couple of years ago, he was at a point in his career where he wanted to give back more and be more directly focused on the impact he could have on water and the environment. [6:52] Ralph had spent a lot of time with the Water Environment Federation as a customer, a volunteer, and a board member. All those things throughout his career helped him considerably. It's such an important organization for making connections in the water sector and for learning. [7:24] Ralph says that when the opportunity came up to be part of the organization that has been so important to his career for all those years, he jumped at it and was fortunate to be selected for this position. Ralph joined WEF in mid-2024. [7:47] Ralph says he is thrilled with the opportunity for direct contributions to water and the environment. It has been fantastic. The organization has always done super important things. He gets to be a part of making those things a reality now, and it's great. [8:17] World Water Day, March 22nd, is a big day for Ralph and for the WEF. This year, it emphasizes water access and gender eq

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Kristen Peed, RIMS Ex Officio, and RIMS Board Member, John Kline, about the results of the 2025 RIMS Risk Professional Compensation Survey, covering Risk Professionals in North America. They discuss the growth trend in base salaries for risk professionals in the U.S. and Canada and what this growth represents. They also dig into the median salary of Chief Risk Officers in both nations and how that reflects on the perceived value of the risk profession today. They discuss the worth of experience and certifications for a risk career. They cover the variety of assignments attached to the roles of risk professionals, and the value of expanding the responsibilities of your role over your career. They discuss the rising generation of risk professionals and the need to ensure the transfer of knowledge as the more experienced risk managers retire. Listen for thoughts on incentives for contributing to the long-term stability and growth of your organization. Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will review the results of the RIMS 2025 Compensation Survey with Kristen Peed and John Kline. But first… [:40] RIMS Virtual Workshops. On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [:51] The next RIMS-CRMP Exam Prep Course will be on April 21st and 22nd, and then again on June 9th and 10th. Registration links are in this episode's notes. [1:00] On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:12] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:19] Webinars. On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". [1:34] We had to reschedule the "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" Webinar that was scheduled for March 6th. Registrants should have received an email about the rescheduling. We will soon confirm the new date. [1:51] Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:01] On with the Show! We are delighted to be joined by RIMS Ex Officio, Kristen Peed, and RIMS Board Chair, John Kline, to discuss the findings of the RIMS 2025 Compensation Survey. [2:15] This biannual survey provides detailed compensation analysis for virtually all risk management positions, as well as the impact that education, experience, and other demographic data have on salaries. [2:27] The report also provides data about risk management reporting structures, team size, benefits, and additional cash compensation programs. It's a North American study. There are some positive trends that we're going to explore with Kristen and John, so let's get to it! [2:42] Interview! Kristen Peed, John Kline, welcome to RIMScast! [3:01] As Ex Officio, Kristen hasn't seen the inside of airports as often. Last year, Kristen was on 98 flights. [3:54] John has been on the RIMS Board for five years. He says the Board is a great team of people. It's a privilege to serve. [4:31] As Kristen and John both have a vested interest in RIMS and the future success of the profession, Justin wanted them together on the show to review some of the high-level points of the Compensation Survey. The survey is available through a link in this episode's show notes. [4:51] Justin states that the median salary for U.S.-based risk professionals is now $160,000; it's $140,000 in Canada. Both figures are up over the last decade and since the last survey, in 2023. [5:20] Kristen sees the sustained salary growth as a clear signal that risk management has moved from a support function to a strategic function. Organizations aren't just paying us for insurance placement or procurement but for our insight, foresight, and decision support. [5:42] Kristen says that over the last decade, risk professionals have been pulled into conversations around cyberresilience, operational continuity, regulatory exposure, capital strategy, and reputation. Those are board-level issues. [6:00] When compensation grows steadily and not in spikes, it reflects the recognition that good risk management is necessary to protect enterprise value and enable smarter growth. [6:16] Kristen is seeing that the market is saying risk leaders are not cost managers anymore; they are people protecting the value of their organization and creating that value, as well. [6:29] John agrees with Kristen. He adds that he thinks, as an industry, we have gotten to be more professional. RIMS has worked on this for years: How do we get the people in this profession to be treated as professionals, like an attorney or an accountant, not procurement? [6:58] John thinks the practitio

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Randy Nornes, the 2025 Harry and Dorothy Goodell Award Winner, about his career. They talk about uncertainty and a long-term approach to risk. Randy won the 2025 Goodell Award for his lifetime achievements. He is a problem solver. Randy advises risk professionals not to focus on what they did yesterday, but on what is happening today, and to stay current with risks such as AI and cyber risk. Randy talks about how staying with Aon for years has given him the latitude to look across the company and focus on the next risk. Listen for tips on laying the groundwork before the risks. Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is 2025 Goodell Award Winner Randy Nornes. We will learn all about his fascinating career and his risk philosophies. But first… [:42] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:53] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:01] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:18] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:26] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:40] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:51] For a quick preview, check out last week's episode with Cynthia Garcia. She is the Chief Risk Officer from Bernards, who will be joining us on that exciting panel. [2:00] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:20] On with the Show! Our guest today, Randy Nornes, is the 2025 Harry and Dorothy Goodel Award Winner. [2:29] Named after the first President of RIMS and his wife, the Harry and Dorothy Goodell Award honors an individual who has furthered the goals of risk management and the Society through outstanding service and lifetime achievement. [2:41] Randy Nornes exemplifies all that and more. He has been with Aon for 38-plus years. Currently, Randy is the Executive Vice President and Enterprise Client Partner for Technology, Media, and the Communications Industry. He has done some volunteer work, which we will talk about. [3:00] Randy has a fascinating career. We're going to learn about it as well as his leadership style, his risk philosophy, and how he is keeping Aon at the forefront of AI innovation. [3:09] [If you've been to RISKWORLD, you've seen Randy in the halls and the educational sessions. He has been an ever-present force there. And he is a highly-regarded member of the Chicago RIMS Chapter. Let's get to it! [3:23] Interview! 2025 Goodel Award Winner, Randy Nornes, welcome to RIMScast! [3:44] Randy is proud of that award. He wonders, after receiving a lifetime achievement award, what's next? Retirement? Should he write a book? [4:11] On the day of the award, Randy was backstage with Martha Stewart and had a chance to visit with her and discuss risk management. [4:21] Randy's wife and one of his sons were in the audience. When Martha Stewart came out and spoke, she referred to their conversation. Randy gained credibility at home that Martha Stewart listened to what he had to say! [4:52] Justin says that RISKWORLD 2025 was fantastic! Randy says he has probably attended three dozen RISKWORLD conferences. He says they get better and are different every time. You can see, decade by decade, what's important. [5:31] There is a wonderful profile on Randy Nornes, written by Russ Banham, in the special Awards edition of RIMS Risk Management Magazine. It is still available online. That's how Justin got to know Randy Nornes before this interview. [5:57] Randy always tries to link up with what the next big thing is. Since late 2025, Randy has been leading Aon's AI infrastructure efforts, from the financing of data centers, to the construction, to the development, to the operation, and to the energy attached to that. [6:28] AI is the next big thing. Randy says that 40% of GDP is coming through the lens of building AI infrastructure. Aon has a big team for it, and that's what Randy does every day. He says it's massive, exciting, and relentless. [7:03] Randy says, Because it's coming so fast and furious, it's not something you have t

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Cynthia Garcia about her career journey. She credits mentors and sponsors for paving the way for her success. Justin and Cynthia discuss the demands of the Chief Risk Officer role and how Cynthia works with stakeholders who have competing priorities. Cynthia shares her perspective on construction risk and safety. She is seeing more diversity in the rising generation of risk professionals, with amazing opportunities for all. Cynthia shares how her Confucianist upbringing still makes it a struggle for her to receive recognition. Despite that, she posted on LinkedIn about receiving the 2025 Bill McIntyre Leadership Award at the International Risk Management Institute (IRMI) Construction Risk Conference. That post led Justin to reach out to her. Cynthia speaks of her involvement with the Spencer Educational Foundation, including being a Risk Manager on Campus. Justin and Cynthia talk about the March 6th Webinar, "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management", that she joins as a featured panelist. Listen for tips on careers in risk management for construction. Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is Cynthia Garcia, the award-winning Chief Risk Officer for Bernards. We will talk all about her career in construction risk and get some "inspirado." But first… [:44] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:55] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:02] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:20] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:27] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:42] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:53] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:14] On with the Show! Our guest today is Cynthia Garcia. She is the Chief Risk Officer for Bernards. [2:22] Cynthia made a big impact on the risk landscape in 2025 when she received the Bill McIntyre Leadership Award from the International Risk Management Institute during its Construction Risk Conference. [2:35] I wanted to learn all about her career and what it's like to be the risk officer for a major construction company. [2:42] Earlier, I mentioned the March 6th RIMS Webinar, "Hard Hats and High Stakes," and Cynthia will, in fact, be the Chief Risk Officer mentioned there. [2:51] If you like what you hear in this episode and want to learn more about career development, construction risk, and why rising risk professionals should seize the opportunities in the construction sector, you can register for that Webinar. [3:04] Cynthia is a fascinating individual, and I am so pleased to present this interview! Let's get to it! [3:09] Interview! Cynthia Garcia, welcome to RIMScast! [3:27] Justin and Cynthia are going to be collaborating on a RIMS Webinar on March 6th, "Hard Hats and High Stakes." It's all about how women have and can continue to thrive in construction risk management. Cynthia is the ideal Chief Risk Officer to have on that panel. [3:46] Justin thanks Cynthia in advance for being on that panel and being a guest on RIMScast. [4:07] Cynthia is the CRO for Bernards, based in California. [4:33] Like many in her generation, Cynthia stumbled into risk management. She started as an administrative assistant for Morley Builders, an amazing employee-owned general contractor in Santa Monica, California. [4:52] She was fortunate to have several sponsors and mentors within the organization. They helped her see that she belonged at the table. They saw something in her that she hadn't seen in herself, which is the beauty of a mentor. [5:16] In spaces she was not in, they advocated for her and said, Why don't we give this to Cynthia? That's the beauty of a sponsor. Cynthia says she was blessed to be in the right place at the right time. She was able to lean in. [5:32] Cynthia says that the thing that attracts her about risk management and what she does is finding the hard yes. Risk management doesn't say, "No." [5:50] Risk management, when practicing i

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews RIMS General Counsel Mark Prysock on RIMS Public Policy Focus in 2026. The RIMS Public Policy Committee is focusing on several legislative issues in 2026. These include the reauthorization of the Terrorism Risk Insurance Act, a federal government backstop in the event of a catastrophic terrorist attack. The bipartisan legislation would reauthorize program funding through 2034. The Public Policy Committee is tracking an association tax reform proposal to levy a 21% tax on nonprofits' net earnings. Republicans and Democrats together are interested in the potential tax revenue of this proposal. RIMS serves on the Steering Committee of an association coalition led by ASAE to try stop this new tax from moving forward. Other legislative interests include reforming the National Flood Insurance Program, mandating disclosures around third-party litigation funding of civil lawsuits, and providing the risk management perspective on various cybersecurity and data privacy initiatives. This year's Legislative Summit, scheduled for March 18th and 19th in Washington, DC, will allow RIMS members to meet with their members of Congress to discuss these issues. Registration for the Summit is now open. Justin and Mark discuss these topics and more in today's interview. Finally, if you haven't already done so, please consider contributing to RISK PAC, the Society's political action committee. Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. Our guest is RIMS General Counsel and VP of External Affairs, Mark Prysock. He's here to tell us what's going on with RIMS advocacy efforts and the top items on our legislative agenda in 2026 and beyond. But first… [:47] RIMS Virtual Workshops. On March 10th and 11th, we have a two-day course led by John Button for the RIMS-CRMP Exam Prep. [:57] On March 17th and 18th, RIMS will align with AFERM for a two-day RIMS-CRMP-FED Exam Prep Course. [1:06] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making", with Joe Milan. On April 15th, we have a virtual workshop covering "Emerging Risks", led by Joseph Mayo. [1:22] Register today and strengthen your risk knowledge. RIMS members always enjoy deep discounts on the virtual workshops. [1:29] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:43] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:54] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the links in this episode's show notes. [2:12] The RIMS 2025 Compensation Survey is now available through the link in this episode's show notes. The survey incorporates data from 867 U.S. and 201 Canadian Risk Professionals. Download it today and see how you measure up to your peers. [2:32] RIMScast has its first spinoff, RIMScast Canada! It is a video podcast hosted by RIMS Canada Conference Committee Chair, Aaron Lukoni, with Justin as co-host. Check it out at RIMS.org/canada. This is a monthly series, and we are stoked to share it with you! [2:57] On with the Show! Our guest today is Mark Prysock, the General Counsel and Vice President of External Affairs here at RIMS. It is always wonderful to have him on the show. [3:07] He's here to remind us of the RIMS legislative priorities of 2026 and how they will be addressed during the RIMS Legislative Summit on March 18th and 19th in Washington, D.C., and who qualifies to attend. [3:19] He will also talk about what else we can expect in the way of public policies that RIMS would like to prevent, and those we support. There are lots of links in this episode's notes. You can visit RIMS.org/advocacy, as well. [3:30] Let's learn about the policies that are changing the risk landscape. [3:34] Interview! Mark Prysock, welcome back to RIMScast! [4:15] Mark says the RIMS priorities for 2026 include third-party litigation funding, where third parties, often from other countries, invest in civil litigation. This is of great concern from a national security perspective. [5:22] If a foreign firm wants to invest in a lawsuit against a defense manufacturer, that foreign investor will have access to everything that comes out in discovery. [5:36] There's a lot of information that can be gleaned through civil litigation. That is a national security concern. That's one of the things we are hoping Congress will address. [5:55] Justin notes that RIMS had a couple of webinars about TPLF in 2025. The webinar panelists were incredibly kno

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews RIMS 2026 President Manny Padilla on several topics, including his first connection with RIMS and his attendance at RISKWORLD on a scholarship. Manny is the first RIMS president of Hispanic descent. This is a historic moment. Manny remarks on the support for diversity he has experienced in RIMS since joining. Manny's background spans corporate risk leadership, military service, and teaching. Manny speaks of his teaching practices and how he links the academic side to real situations and strategies the students will face. Manny shares anecdotes from his military service. Justin and Manny discuss the objectives of the RIMS Legislative Summit in Washington, D.C., on March 18th and 19th, and Manny invites all members to register and participate. Manny continues the interview with reflections on the RIMS-CRMP, other certifications and designations, and how investing in developing yourself will make you stand out as a risk practitioner. Justin and Manny discuss the nature of polycrisis. Manny asks you to participate and become involved in your RIMS chapter and educational events. Listen for career advice for both new risk practitioners and seasoned risk professionals. Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We are delighted to be joined by RIMS 2026 President Manny Padilla. We're going to learn about his plans for the presidency and his unique career in risk and pre-risk. But first… [:47] RIMS Virtual Workshops. The next RIMS-CRMP-FED Virtual Workshop will be led by Joe Mayo on February 17th and 18th. On March 10th, we have a RIMS-CRMP Exam Prep with John Button, a recent RIMScast guest. [1:04] On March 4th and 5th, we have a virtual workshop, "Facilitating Risk-Based Decision Making" with Joe Milan. Register today and strengthen your risk knowledge! RIMS members always enjoy deep discounts on the virtual workshops. [1:21] Webinars. On March 6th, RIMS presents "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management". We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:36] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [1:47] On March 12th, Global Risk Consultants returns with "Don't Waste the Soft Market: Where to Reinvest Insurance Savings Before the Window Closes". Register for these and other webinars by visiting RIMS.org/webinars and the link in this episode's show notes. [2:07] The RIMS 2025 Compensation Survey is now available through the link in this episode's show notes. The survey incorporates data from 867 U.S. and 201 Canadian Risk Professionals. Download it today and see how you measure up to your peers. [2:25] RIMScast has its first spinoff, RIMScast Canada! It is a video podcast hosted by RIMS Canada Conference Committee Chair, Aaron Lukoni, with Justin as co-host. Check it out at RIMS.org/canada. This is a monthly series, and we are stoked to share it with you! [2:50] On with the Show! I am so pleased to present our guest today! He has been a big supporter of RIMScast for years! I'm thrilled that he is our 70th President here at RIMS. I'm talking about Manuel "Manny" Padilla. [3:05] Manny was RIMS 2025 Vice President. He's been a positive force on the Board. He is also the Vice President for Risk Management & Insurance for MacAndrews & Forbes, Inc. He is a RIMS-CRMP holder. He truly loves risk management! He will be a fantastic RIMS President! [3:26] We're going to talk about his career pre-risk-management and bring us up to the present, what his experience with RIMS has been like, and his perspective on what it takes to achieve success in the profession today. Let's get to it! [3:40] Interview! RIMS 2026 President Manny Padilla, welcome to RIMScast! [4:02] Manny says everyone's energy is up there, and he's looking forward to having a very positive 2026. [4:16] Manny says that being Vice President involved a lot of learning. He says that the RIMS board participation is very much a training program. You learn to see how the organization responds. In the Executive Board, you start to see how RIMS is run. [4:34] Manny says, as you move forward from Secretary to President, you pick up a lot of training. It's a good training program. [5:00] Manny says that on the Board, there's a lot of excitement and a lot to do. There's a lot of information to impart to our professional society. We're very active and motivated to get that information out there. [5:15] Manny is the 70th president of RIMS. In 1992, Manny attended RISKWORLD in New Orleans through the Anita Benedetti Student Involvement Program. The information was on a board at the College of Insurance. He applied for it and was sponsored to attend. [6:30] In the College of Insurance, Manny was sp

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Megan Miller, the CEO of the Spencer Educational Foundation, and John Button, ERM strategist and RIMS-CRMP Workshop instructor. The episode is divided into two interviews. Justin and Megan review the Spencer activities coming up around RISKWORLD 2026 and later, with a focus on driving students into insurance and risk careers and on providing risk scholarships to build the industry. Justin and John focus on John's ERM and risk philosophies and the key skills and knowledge the next wave of risk practitioners will need as risk management moves into strategic risk modes. They discuss the RIMS-CRMP virtual workshops that John teaches, and James Lam's RIMS-CRO Certificate Program in Advanced Enterprise Risk Management, which John endorses. They talk about RISKWORLD 2026, which is coming up. Listen for tips on inviting the next wave of students into the risk profession and preparing for upcoming trends in risk. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. We will be joined by Spencer Educational Foundation CEO, Megan Miller, and ERM strategist and RIMS-CRMP Workshop instructor, John Button. But first… [:47] RIMS Risk Foundations Certificate Program. This beginner program will guide you through the risk landscape and help evaluate the purpose, function, and process of risk management. On completion, you will receive a Digital Risk Foundation certificate and 24 RIMS CE credits. [1:07] Cohort Number One starts on February 10th and 11th, with "Fundamentals of Risk Management," and then, on February 25th, "Risk Taxonomy," followed by two on-demand courses. Register now because the next cohort will be held in August. A link is in the notes. [1:28] RIMS members always enjoy deep discounts on the virtual workshops. [1:32] Webinars The next RIMS webinar will celebrate Women's History Month by exploring the success of women in construction risk on March 6th. We'll be joined by a Chief Risk Officer, an underwriter, and a broker. [1:45] They will explore their career paths, risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. Visit RIMS.org/webinars and check out the link in this episode's show notes. [2:00] RISKWORLD General registration is open for RISKWORLD 2026, which will be held from May 3rd through the 6th in Philadelphia, Pennsylvania. Visit RIMS.org/RISKWORLD or RIMS.org. Register today to take advantage of those sweet advance rates through the end of this month! [2:24] On with the Show! Returning to RIMScast is one of my favorite people, the CEO of the Spencer Educational Foundation, Megan Miller! Spencer Day is coming up on February 23rd. We want to hear all about what she has in store for us this month, and at RISKWORLD 2026. [2:50] Megan Miller will also present a special introduction for the "Hard Hats and High Stakes" Webinar on March 6th. Let's get to it! [3:08] Interview! Spencer Educational Foundation CEO Megan Miller, welcome back to RIMScast! [3:30] Megan says the Spencer Educational Foundation had a great year in 2025. They surpassed their goals. They're riding into 2026 on top of the wave. They are also starting Year 1 of implementing their next Five-Year Strategic Plan through 2030. [3:55] Megan says they have some big growth goals; they're hoping to raise $10 million a year by 2030. They ended last year at just over $4 million. [5:13] Spencer Day on February 23rd is held in conjunction with Insurance Careers Month. The Insurance Careers movement is to get students thinking about careers in insurance. [5:29] Holding Spencer Day during Insurance Careers Month raises awareness about what the Spencer Educational Foundation is doing to help drive more students into insurance careers. [5:36] The Spencer Educational Foundation tries to raise at least $7,500 from individual contributors that day to fund an additional scholarship. If they can raise $7,500, they can give out one more scholarship in 2026 and set one more person on the path to a career in risk. [6:18] At RISKWORLD, the Spencer Educational Foundation holds three events: Pickleball Social on Saturday, May 2nd, with sponsor Optum, the Gallagher Topgolf Golf Tournament on Sunday, May 3rd, and the 5K Fun Run on Tuesday, May 5th, with new sponsor Bold Penguin. [7:59] The 5K Fun Run will take place at Boathouse Row at 6:30 a.m. [8:57] The Spencer Soirée will be held on Monday, May 4th, at 5:30 p.m. It's Spencer's big donor appreciation event. At the Spencer Soirée, Spencer announces the winners of the International Student Risk Management Challenge that takes place all day on Sunday, behind closed doors. [9:16] On Monday morning, you'll have the opportunity to see the top three student teams present. Over 50 teams are competing. They submit their papers online, and the judges select the

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Susan Hiteshew about her career path, from long-time risk manager to broker, and how her foundation in risk provides her with corporate empathy and understanding of her clients. They cover key principles Susan learned on the way, how she intentionally made a change, and how her risk philosophy helps her as a broker. Susan shares points from her risk philosophy and the benefits she realized from the RIMS-CRMP, as well as from serving on the National RIMS Board. Listen for key factors in a great trisk management team. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. We will be joined by Susan Hiteshew, a long-time risk professional, to discuss how she successfully transitioned over to the broker side. We will also get her ERM philosophy and how it still guides her to this day. But first… [:47] RIMS-CRMP and Some Prep Courses. The next virtual prep courses will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:04] RIMS Virtual Workshops are coming up. On February 2nd and 3rd, Pat Saporito will host the debut of the two-day course, "Storytelling with Data for Risk Management". [1:18] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:28] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:39] RIMS members always enjoy deep discounts on the virtual workshops. [1:43] The next RIMS Webinar will celebrate Women's History Month by exploring "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" on March 6th. [1:53] We'll be joined by a Chief Risk Officer, an underwriter, and a broker, who will explore their career paths and risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. [2:08] Visit RIMS.org/webinars and check out the link in this episode's show notes. [2:12] On with the show! Our guest today is the Managing Director and Office Head for Marsh's Washington, D.C. Office. Before accepting that role, she had 16 years of experience in risk management. She was one of the first RIMS-CRMP certificate holders. She's Susan Hiteshew. [2:35] We're going to talk about her career and why she decided to make a transition over to the broker side with Marsh. We'll also talk about her ERM philosophy and how it continues to guide her to this day. [2:47] We will also talk about strategy and the concept of professional empathy. Let's get to it… [2:54] Interview! Susan Hiteshew, welcome to RIMScast! [3:34] Susan can't imagine a better way to start 2026 than getting to be here on RIMScast with Justin! [4:00] For years, Susan was a corporate risk manager. Most recently, she was the VP of Risk at a real estate investment trust. Before that, she was Senior Director of Insurance at a major hotel brand and had filled other risk roles. [4:25] Susan says that before she got started as a risk manager, she began her career in claims. She worked in a specialized unit on the carrier side, analyzing legacy claims for coverage. They printed policies, read them, and manually wrote claims notes on them. [4:57] Susan says it was a great way to learn the coverages and understand the underwriting intent of the policies. That foundation taught her that insurance is technically complex and that there's a policyholder on the other end who will be getting your coverage letter in the mail. [5:19] Susan says insurance is a people business, even though it is very much a technical business. It's a form of strategic finance. [5:28] Susan learned as a risk manager the value in building that downside protection for your company and creating predictability in your cost of risk so that your business can operate with confident margins. [5:44] As a risk manager, Susan implemented that approach into how she thought about ERM. She thinks the most successful ERM programs are very collaborative across different business units and are built upon the spirit that everyone's a risk manager. [6:05] Risk is something we all own for our company. Susan's focus was always on supporting her executive team and board, and giving them information in clear, cogent, and actionable ways. [6:24] Susan speaks of frameworks. Risk and strategy are two sides of the same coin. Some risks are quantifiable and insurable; some risks are not. [6:36] Enterprise risk management is about understanding all risks, creating awareness around them, and mobilizing your company to focus on those risks in every part of your organization, at every level. Susan finds value in both ISO and COSO. She leans more toward COSO.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Rich Lenkov, Founder and CEO of SERMA, about the unique aspects of risk management in sports and entertainment, such as stadium security and crowd safety for a big game or event. They look at what SERMA offers to risk professionals in sports and entertainment. Rich speaks of cross-disciplinary collaboration and the specialized content offered by SERMA. Rich shares his thoughts about the Day of the Endangered Lawyer and the importance of the Constitution and international law. Listen for tips on sports and entertainment risk management. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. Our guest is Rich Lenkov, the Founder and CEO of SERMA, the Sports and Entertainment Risk Management Alliance. [:43] We will talk about all things sports and entertainment risk-related and get his play-by-play on what it takes to succeed in sports and entertainment risk. But first… [:54] RIMS-CRMP and Some Prep Courses. The next virtual prep courses will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On February 2nd and 3rd, Pat Saporito will host the debut of the two-day course, "Storytelling with Data for Risk Management". [1:26] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:35] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:47] RIMS members always enjoy deep discounts on the virtual workshops. [1:51] The next RIMS Webinar will celebrate Women's History Month by exploring "Hard Hats & High Stakes: Women Leaders Shaping Construction Risk Management" on March 6th. [2:00] We'll be joined by a Chief Risk Officer, an underwriter, and a broker, who will explore their career paths and risk and safety philosophies, and lend some insight as to why this is the time for the next generation of leaders to rise. Check out the link in this episode's show notes. [2:23] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:36] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:52] On with the show! Our guest today is Rich Lenkov, Founder and CEO of SERMA, the Sports and Entertainment Risk Management Alliance. Rich is a lawyer by trade, but he is vested in the success of risk management, particularly against the backdrop of sports and entertainment. [3:13] With all the developments, regulations, or lack thereof, Rich has got a lot to say. We'll have a volley of ideas about sports risk management, active shooter preparedness at a stadium, name, image, and likeness rights for college athletes, and other topics. [3:41] Rich is also the host of SERMA's SERMAPod, so it's nice to have a podcasting brother on the show. Let's get to it… [3:49] Interview! Rich Lenkov, welcome to RIMScast! [4:07] Rich tells about hosting the SERMAPod. About 11 years ago, Chicago radio station WGN approached him to do a legal podcast for them, Legal Face-Off. About five years ago, SERMA started the SERMAPod. It's been a lot of fun! This is SERMA's fifth year, too. [4:50] Rich is a Capital Member of Downey & Lenkov. He's a full-time lawyer. This is Rich's 30th year in practice, having started in 1996. [5:16] Downey & Lenkov began in 2001. Rich has been with the firm since 2002. A Midwest-based law firm, Downey & Lenkov primarily handles insurance defense in Illinois, Indiana, and Wisconsin. [5:29] Downey & Lenkov does insurance defense in all its forms, from sports and entertainment law to premises liability, workers' compensation, employment, construction, products, and anything like that. They also do some transactional work and some professional liability. [5:47] That's Rich's day job. They're busy and have lots of clients. There's too much work, and not enough lawyers to do it! Rich says that servicing his clients is really rewarding. [6:07] Rich also has a production company. With that background and having worked in sports and entertainment law, he realized that there were not a lot of resources devoted to sports and entertainment risk management. [6:43] In discussing these issues with clients and colleagues, Rich saw a hole in the market for someone to provide content, networking, resources, and information-sharing. So he thought, why not? That's how SERMA got started. [7:01] Justin gives a shoutout to Emily Buckley, a member of both RIMS and SERMA. S

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this episode, Justin interviews Deyna Feng, Director of Captive Programs at Cummins, about her role at the company. They discuss the reality of climate change risks and how Cummins uses captives to address them in the short- and long-term in the U.S. and 36 countries globally. They talk about the various facets of the company, from property to supply chain, to business continuity, to human resources, at risk from climate events. They discuss the variety of regulatory sustainability reporting requirements around the globe. Listen for steps to take to use captives for your climate risk planning and strategy. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. Our topic today is the interconnection between captives and climate risk. To help me delve deeper into this connection, I've asked Deyna Feng of Cummins to rejoin us. It will be great to catch up with her! [:49] You're going to walk away from this episode with a lot of great ideas for your captive programs. But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on March 110th and 11th and again on April 21st and 22nd. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:26] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:36] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:47] RIMS members always enjoy deep discounts on the virtual workshops. [1:57] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:10] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:24] On with the show! Deyna Feng is rejoining us for the first time since 2021. She is the Director of Captive Programs at Cummins. [2:38] Cummins designs, manufactures, distributes, and services a broad range of power solutions, from traditional diesel and natural gas engines to advanced electric, hybrid, and hydrogen fuel cell technologies. [2:50] Deyna is here to discuss how climate change has had a huge influence on how she manages captives for Cummins. We're also going to speak a little more broadly about the ways you might think about climate risk as you launch or alter your captive program. Let's get to it… [3:06] Interview! Deyna Feng, welcome back to RIMScast! [3:21] Deyna Feng has been working for Cummins for the past 15 years. She was always with the risk insurance team and, since 2015, she's managed the captive operations, the insurance programming inside it, and the whole insurance company. [3:52] Deyna started with Cummins as Regional Risk Manager for Asia Pacific. Then she joined the company to manage its captive. Deyna has been really passionate about this career path because captive is such a wonderful risk management and risk insurance tool. [4:08] Deyna says Cummins has been using its captive constantly and actively managing different types of risk and profiles. [4:34] A captive is an insurance company. Cummins's captive is a pure captive, or a single-parent captive, so it purely insures the parent company's risks and business. [4:44] The benefit of a captive insurance company is that, instead of buying insurance from the commercial market, you can really tailor your insurance program within a captive. [4:55] They also provide financial benefits like tax benefits and some other things you can manage through the captive. [5:03] For the past few years, it's been hard on the insurance market on the property and the liability side. Cummins uses its captive, proactively, managing the whole program in a really unique way. Everything is tailor-made to your own program, your own risk. [5:21] If you are a good risk management account, you will receive benefits by doing such a self-insurance arrangement. [5:38] Justin recalls from reporting that in 2025, there are hundreds more captives among medium and small businesses than there were 20 years ago. Feng agrees. It's a booming market for the whole captive industry. It's growing for all captive domiciles around the world. [6:01] Deyna and Justin believe that captives are a big part of the future of risk management. [6:09] Justin reconnected with Deyna because of her unique philosophy that climate change can greatly impact a captive and, therefo

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this first episode of 2026, Justin interviews Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management Magazine. They discuss major cyber events of 2025, court rulings on AI fair use, and what risk professionals should take away about AI training data and intellectual property. They discuss regulations about forever chemicals or PFAS and what to look for in 2026 and beyond as these regulations change. They discuss the U.S. government shutdown of October and its residual effects. Listen for a call for content submissions for RIMS Risk Management Magazine. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. This is our first episode of 2026. We're going to look forward and back, and who better to do that with than Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management Magazine? [:44] We will discuss some of the top risk management stories of 2025 and what they might mean for 2026. There's so much to discuss, from forever chemicals to AI! But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on January 14th and 15th, 2026. These are virtual courses. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. This is the last call for "Intro to ERM for Senior Leaders". It will be held on January 8th, led by Joe Mayo. [1:24] On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:35] On February 4th and 5th, Ken Baker will return to deliver the course, "Applying and Integrating ERM". [1:45] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:57] RIMS members always enjoy deep discounts on the virtual workshops. [2:06] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:19] You can enroll now for the next cohort, which will be held over 12 weeks from April 14th through June 23rd. Links to registration and enrollment are in this episode's show notes. [2:34] On with the show! The annual Year in Risk Review edition of RIMS Risk Management Magazine is now available. Visit RMMagazine.com for more information. [2:47] We're going to pick up where we left off with Morgan O'Rouke and Hilary Tuttle of RIMS Risk Management Magazine and the RIMS Publication Department. [2:54] Feel free to check out Episode 371 to get caught up as we discuss natural catastrophes and their impact on the landscape. [3:04] In this episode, we're going to talk about AI, PFAS forever chemicals, and how you can contribute to RIMS Risk Management Magazine in 2026. [3:14] Risk Management Magazine is an Azbee award winner, so you are hearing insights from the best in the business of risk management reporting. Let's get to it… [3:24] Interview! Morgan O'Rourke and Hilary Tuttle, welcome back to RIMScast! [4:01] The Year in Risk 2025 Edition of RIMS Risk Management Magazine has been on digital shelves for a few weeks now. We're going to look a little bit forward and backward. [4:34] Data Privacy Day comes up on January 20th every year. All eyes turn to cyber. At RIMS, all eyes turn to Hilary because she is the cyber guru. Hilary thinks every day of the year is Data Privacy Day. [5:15] Hilary says, in the Year in Risk edition, they talked about 2025's Amazon Web Services outage, which took about 70,000 companies offline. It's a solid example of third-party risk and vendor security risks. [5:31] The economic impact of the outage was estimated to be in the billions of dollars, in terms of lost business and business interruption. Hilary said the AWS outage lasted about 16 hours. [5:53] It's a good reminder of vendor concentration risk in cloud services. The cloud services market has three major vendors; Amazon has about 30% of the market. If Amazon goes down, that's a significant number of clients who are at risk. [6:10] Hilary says insurers are not at real risk for this outage. A lot of cyber coverage has provisions for outages with waiting periods of eight to 12 hours. Your insurer might come in for the end of that situation, but most of it is on the insured. [6:38] For insurers and reinsurers, it was a pretty mild event. It's not going to cause huge changes in capacity or rates. It is a reminder that a lot of the risk is going to be on you, depending on the factors that are involved and the vendors that you pick. [6:58] There was also the Marks & Spencer ransomware incident that impacted their stores and online services. They sell about four million Great British pounds a day of products online.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society. In this last episode of 2025, Justin interviews Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management magazine on the most impactful risks of 2025 and what's expected in 2026. They discuss the difficulty of reporting on the rapid pace of risk change. Morgan and Hilary discuss the most impactful natural events of 2025: wildfires in California and Canada, Hurricane Melissa, and flooding. They discuss the economic risks posed by the unusual tariff changes in 2025 and how supply chains and inflation are affected. These risks are covered in the Q4 edition of RIMS Risk Management magazine online now. Morgan and Hilary will return for the first episode of 2026, launching on January 5th. Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. This is our final episode of 2025, and who better to spend it with than Morgan O'Rourke and Hilary Tuttle of RIMS Risk Management magazine? [:44] We will discuss some of the top risk management stories of 2025 and what they might mean for 2026. They will rejoin us for the first episode of 2026! But first… [:55] RIMS-CRMP and Some Prep Courses. The next virtual prep course will be held on January 14th and 15th, 2026. These are virtual courses. Links to these courses can be found through the Certification page of RIMS.org and through this episode's show notes. [1:12] RIMS Virtual Workshops are coming up. On January 21st and 22nd, Chris Hansen returns to deliver the course, "Managing Worker Compensation, Employer's Liability and Employment Practices in the US". [1:26] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:38] RIMS members always enjoy deep discounts on the virtual workshops. [1:48] The RIMS-CRO Certificate Program in Advanced Enterprise Risk Management is hosted by the famous James Lam. This is a live virtual program that helps elevate your expertise and career in ERM. [2:01] You can enroll now for the next cohort, which will be held over 12 weeks from January through March of 2026. Registration closes on January 5th. Or Spring ahead and register for the cohort that will be held from April through June, 2026. Registration closes on April 6th. [2:20] Links to registration and enrollment are in this episode's show notes. [2:27] On with the show! The annual Year in Risk Review edition of RIMS Risk Management magazine is now available. Visit RMmagazine.com for more information. [2:39] I wanted to dive deeper into some of the pages and the stories that made major headlines in risk management this year. Morgan and Hilary are rejoining us as part of our annual tradition. [2:54] We're not just looking back; we're also going to talk about how these events should be some warning signs and provide some extra insight for risk managers around the world. [3:05] Interview! This is our final episode of the year, and we're going out with a bang with two of my favorite people! [3:12] Morgan O'Rourke and Hilary Tuttle, welcome back to RIMScast! [3:23] Justin saw Morgan and Hilary, just a month ago in Seattle, at the ERM Conference. Morgan says it was raining the whole time, but it was a good conference. It was well-attended, and everybody enjoyed themselves, and the attendees got a lot out of it. It was a great event! [3:51] Hilary also thought it was great! The turnout was fantastic! There was some great feedback on a lot of the sessions. There were some packed rooms! People seemed pleased with the programming. Hilary didn't see the sun until she left, but she enjoyed the city! [5:12] Morgan and Hilary's goal for attending the ERM Conference is to gather good ideas for articles. They look for presenters who might be good content contributors in other formats. They look to get a sense of what is new and what is emerging. [5:24] Morgan and Hilary talk to members about what they're seeing in practice and what's concerning to them. Morgan says if there's a packed room for a session, it's clearly a topic that's resonating, which bumps it to the top of the list of things to pursue, since there's interest in it. [6:17] Justin notes that Morgan's always there in the sessions with pen and paper. He's old school! [7:36] Morgan says the hardest part of reporting on risk is the breadth of the risks they cover. Everything has a lot more nuance and a lot more effect. This incident happened, which had 57 knock-on effects. [7:47] Morgan explains why distilling that down to something that makes sense in article form is a huge challenge and compares writing about risk to the experience risk managers have with everything they deal with. [8:10] Morgan says that, at the end of the year, spotlighting the year in risk coverage is a challenge. How do you get the entire economic, geopolitical situation down to 200 words? [8:37] Hilary say