Ten Things I Wish I Knew When I was a Risk Manager. Lance J. Ewing CRM, ARM, ERMP Vice President Chartis Henry Good Risk Management Consultant Wells Fargo Insurance Services. Do Not Blindly Believe Your Service Providers. Understand Your Assets and Liabilities Sales is Not Delivery
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Ten Things I Wish I Knew When I was a Risk Manager Lance J. Ewing CRM, ARM, ERMP Vice President Chartis Henry Good Risk Management Consultant Wells Fargo Insurance Services
Do Not Blindly Believe Your Service Providers Understand Your Assets and Liabilities Sales is Not Delivery Mistakes Do Happen Errors & Omissions
ERM is Not Going Away SarBox was the Opening Act (circa 2001) Fad “This Too Shall Pass” Financial Storm Clouds Board Room No Longer Passive
Hard Work and Results May Not Always Pay Off Welcome to Politics Financial Driven—aka Risk Reward Coverage vs. Savings What Really is Your Job?
Risk Management is More Human Management Still a Relationship Business Competency v. Chemistry Too Close for Comfort People First…Policy Second
Find a Mentor and Then Be a Mentor Reach Out Young Guns…Old Guns It’s a Small Risk World After All All About the Learning
Be Part of the Solution not Part of the Problem • Make Sure There are No Gaps • Understand All the Options
You are the Best Sales Person for Your Company It Does Not End at the Initial Presentation Stay Involved All Through the Placement Process Understand the Nuances of Your Own Company
Does Your Broker/Insurer Really Care about You? Are the Brokers More Linked to the Insurers Are the Insurers More Linked to the Brokers Is Your Account Being Horse Traded
Full Transparency is Not All it is Cracked Up to be No Requirement to Advise Who the Broker “Did Not Take” Your Account to What Brokers Say “May” Apply to USA Operations Only What a Broker Will do for One Customer May Not be Done for You
Do Not Over Estimate Your Value to the Company Are You Really More Than a Glorified Insurance Buyer? Value Comes by Developing Trust With Your Senior Management Team You Will be Less Valuable if You are Constantly Changing Companies and do Not get to Know Your Senior Management Team Members