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. SERMA hosted a wonderful event at the RIMS ERM Conference 2025 in Seattle, and Emily invited Justin.

[7:41] Rich has been a RIMS member, strong advocate, and supporter for almost his whole career. He finds it to be an incredible resource for knowledge and networking. He says the regional and national events are second to none. Lots of SERMA members are RIMS members.

[8:03] Early on, SERMA decided to partner with groups like RIMS and local RIMS chapters. As the new kids on the block, SERMA is indebted to RIMS for inviting them to host events with them.

[8:49] Rich says that a lot of the risks in sports and entertainment relate to high-profile companies, teams, leagues, and studios. The whole world is watching. When there's a tragedy or a weather event at a sporting event, it's not limited to the grounds.

[9:17] There is a lot of scrutiny. Laws are involved, or legislation is produced. These are frequently ground-breaking losses for high-profile brands. Brand protection is important. Some of the biggest companies on the planet are very concerned about how their brand is perceived.

[9:39] Rich says, the types of risks and claims are different from "garden-variety" hospitality or construction claims. You're dealing with unique circumstances. How do you extricate actors from the jungles of Costa Rica in a weather event? How do you protect the Super Bowl?

[10:03] Those are not things that risk managers deal with every day. They are unique, specialized risks. Rich says he's learning new things every time SERMA provides content that's not seen anywhere else.

[10:17] Justin adds that the teams and athletes themselves are some of the most recognizable brands in history, such as Michael Jordan.

[10:32] Rich says SERMA members deal with high-profile claims and risks. SERMA has done lots of content on handling workers' compensation claims from players. A lot of high-profile athletes, making a lot of money, are also pursuing workers' compensation claims.

[10:58] Workers' compensation for highly-paid athletes is very expensive. All the teams are very attuned to what they are spending on workers' compensation.

[11:11] SERMA brings together lawyers, risk managers, insurers, claims professionals, vendors, outside counsel, and other vendors who support the industry. At the end of 2025, SERMA had around 700 members with a ratio between industry professionals and vendors of seven to one.

[11:41] Rich says SERMA consciously makes its environment one where risk managers, claims managers, and general counsel can meet and share resources in a relatively confidential way.

[12:02] SERMA is not a space with a lot of salesmanship, but networking is encouraged. SERMA wants everyone to develop relationships. SERMA's priority is to have great, cutting-edge content, rather than just selling products.

[12:43] Rich believes cross-disciplinary collaboration is important. We learn from each other. When Rich handles a sports or entertainment claim, he sees it from his perspective; he doesn't know what it's like to have boots on the ground at a venue when they are securing a big event.

[13:12] It's important to collaborate with people who handle safety and security. When Rich speaks as an attorney to these folks, they have no idea what effect their initial investigation of a claim will have on discovery or if they go to trial. You have to learn from each other.

[13:35] Rich finds that collaboration with risk professionals has been great. SERMA's risk professionals bring a unique perspective to the table.

[13:52] A risk manager for a team or venue has to cover everything. A whole world of claims h...

Sports, Spotlight, and Risk Leadership with Rich Lenkov, Founder and CEO of SERMA