Podcast
The Edge of Risk Podcast by IRMI
Hosted by irmi · EN
Trusted Risk Management and Insurance Research That Empowers You To Be the Expert!
33episodes
Episodes
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Why Top Students Are Choosing Insurance: A Conversation with Carly Pye
5d ago00:20:14Summary readyIn this episode of The Edge of Risk Podcast by IRMI, Joel Appelbaum sits down with Carly Pye to talk about how majoring in risk management and insurance (RMI) changed her future. Carly shares the internships, networking opportunities, and real-world experiences that turned a college program into a career path she genuinely is excited about. Carly and Joel talk candidly about how, originally, she did not think a career in insurance was for her, but the opportunities her RMI major has given her made Carly fully buy into the insurance industry. Joel and Carly's conversation unlocks what makes a great internship and how to make the most out of your college experience. Listen in and you may find out that the insurance industry is one of the best-kept secrets for students looking for a rewarding career.
SummaryHow Do You Know When Captive Insurance Is Right for Your Organization?
2w ago00:35:46Summary readyWhen should an organization seriously consider forming a captive insurance company—and when is it better to wait? In this Captive Insurance 101 episode of The Edge of Risk Podcast by IRMI, Joel Appelbaum speaks with T.J. Scherer, vice president at Spring Consulting Group, about the practical questions organizations should ask before pursuing a captive. The discussion explains what typically prompts companies to explore alternative risk financing, how to distinguish common misconceptions from legitimate opportunities, and why the decision extends far beyond premium size alone. T.J. also walks through the key elements of a captive feasibility evaluation, including total cost of risk, capital requirements, organizational readiness, leadership alignment, and long-term business strategy. Listeners will learn why captives are strategic risk management tools rather than quick cost-saving solutions, how organizations should think about group versus single-parent structures, and what a typical feasibility study can—and cannot—tell decision-makers before moving forward.
SummaryGlobal Risk, Local Impact: A Conversation with "The Cow Guy"
3w ago00:13:39Summary readyAgriculture is increasingly affected by forces far beyond the farm gate—from commodity markets and interest rates to global economic uncertainty. In this 13-minute episode of The Edge of Risk Podcast by IRMI, Scott Shellady, better known as "The Cow Guy," shares his unique perspective on the trends shaping agriculture and risk today. Scott also offers a preview of his keynote address at the IRMI Emmett J Vaughan Agribusiness Conference, set for August 31–September 2 in Nashville, where he'll discuss navigating uncertainty and finding opportunity in a rapidly changing agricultural economy.
SummaryRaising the Bar, Encore: Roles, Planning & Execution for Crane & Rigging Operations
3w ago00:23:04Summary readyThe Edge of Risk Podcast by IRMI welcomes Hank Dutton, senior technical specialist at Travelers Insurance and certified lift director, in a highly informative discussion on cranes and rigging exposures. Hank highlights important areas of focus, such as roles that should be clarified within rental agreements and where projects get tripped up regarding ground conditions. As an "encore" to Hank's popular session presented at the 2025 IRMI Construction Risk Conference, this talk also provides solutions to avoid unexpected exposures regarding cranes and rigging at a construction site.
SummaryArtificial Intelligence in Captive Insurance: Practical Lessons from a Healthcare Risk Retention Group
Jun 3000:21:36Summary readyArtificial intelligence (AI) is rapidly changing how captive insurance companies and risk retention groups operate, but where does it create the greatest value, and where should human expertise remain firmly in control? In this episode of The Edge of Risk Podcast by IRMI, Joel Appelbaum is joined by Julie Bordo, president and CEO of PCH Mutual Insurance Company, a Vermont-domiciled healthcare risk retention group serving assisted living and personal care homes across the United States. Julie explains how her organization has used AI to improve claims administration, underwriting workflows, legal operations, and member services while maintaining strong governance and regulatory oversight. The conversation explores how a lean captive organization can use AI to automate repetitive work, summarize complex claims files, enhance operational efficiency, and free staff to focus on strategy and risk management rather than administrative tasks. Julie also discusses why AI should be viewed as a collaborative assistant rather than a replacement for human judgment. She shares practical guidance on AI governance, cyber security, prompt validation, and organizational policies, while offering advice for captive owners and risk retention groups looking to adopt AI responsibly. The discussion also provides valuable background on how risk retention groups operate within the captive insurance industry and why their collaborative structure supports innovation and specialized risk management.
SummaryCaptive Insurance and Self-Procurement Tax: Key Considerations
Jun 2400:10:20Summary readySelf-procurement tax is an often overlooked aspect of captive insurance that can create significant compliance and financial implications if not properly addressed. In this episode of The Edge of Risk Podcast by IRMI, host Joel Appelbaum is joined by Allan Autry, CPA and partner at Johnson Lambert, to explore when self-procurement tax applies, why it exists, and how it affects organizations using captive insurance companies. Allan explains the distinction between premium tax and self-procurement tax, discusses the impact of the Nonadmitted and Reinsurance Reform Act, and outlines how an insured's home state is determined for tax purposes. The conversation also examines common misconceptions surrounding self-procurement tax, practical compliance considerations, and the challenges organizations face when operating across multiple jurisdictions. Allan shares insights on how self-procurement tax can influence captive domicile decisions, why it should be included in feasibility studies, and how fronting arrangements may alter tax obligations. The discussion concludes with a look at increasing state enforcement activity and steps captive owners and risk managers can take to stay ahead of potential compliance exposures.
SummaryLeverage Insurance Risk Engineers to Expose and Mitigate Construction Project Risks
Jun 1800:08:46Summary readyInsurers use risk engineers to help customers identify and mitigate risks by assessing their operations and making recommendations for improvements. The Edge of Risk Podcast by IRMI features Peter Ukstins, head of construction risk engineering at AXA XL, in a talk that was originally presented as a snap talk at the 2025 IRMI Construction Risk Conference. Listen in to Peter's insight on how face-to-face interactions with customers throughout the lifecycle of a project allow risk engineers to gain a deeper understanding of their operations and provide more customized solutions.
SummaryUsing Captive Insurance to Support Risk Strategy and Capital Deployment
Jun 1200:24:33Summary readyIn this episode of The Edge of Risk Podcast by IRMI, Joel Appelbaum speaks with Cherie Baker, vice president of enterprise risk management at Ilitch Companies, about how captive insurance can serve as a strategic tool for managing risk, deploying capital, and supporting business growth. Ms. Baker shares her career journey through brokerage, healthcare, automotive, and enterprise risk management, and explains how Tenda, the organization's captive insurer, has evolved from its original employee benefits focus into a broader risk financing vehicle supporting multiple lines of coverage. The conversation explores how Tenda utilizes both the Michigan and Cayman domiciles, works alongside commercial insurers and reinsurers, and evaluates opportunities across health, property, casualty, management liability, executive life, and other emerging risks. Ms. Baker discusses the importance of aligning captive strategy with organizational objectives, building relationships across diverse business units, and continuously reassessing captive utilization as market conditions change. She also shares insights into the role of entrepreneurship in captive innovation, the value of industry involvement through Captive Insurance Companies Association and Amplify Women, and why organizations should regularly revisit how their captives can support evolving and interconnected risks.
SummaryPaperwork Risk: How Digital Forms Are Saving Farm Operations
Jun 1100:19:41Summary readyFarmers and ranchers are challenged by complex forms needed to apply for critical federal programs, among other things. In this 20-minute episode of The Edge of Risk Podcast by IRMI, ZForm's Lara Goldmark, founder and CEO, and Laura Napoli, cofounder and head of marketing and partnerships, discuss US Department of Agriculture (USDA) and government-required farm program forms, especially those that determine program eligibility and enrollment and in which a small error can delay or restart the entire process. Many federally reinsured crop insurance policies require accurate and timely USDA filings to remain eligible—learn ways to minimize your risk.
SummaryReinsurance Trusts in Captive Insurance: Structure and Strategy
May 2900:22:26Summary readyIn this episode of The Edge of Risk Podcast by IRMI, host Joel Appelbaum speaks with Donny Tong, senior vice president at Truist Bank, about the role of reinsurance trusts—also referred to as "collateral" trusts—in captive insurance programs. The discussion explores how these trust structures function as collateral mechanisms between captives, fronting insurers, and reinsurers, including the operational mechanics behind trust agreements, eligible assets, withdrawal rights, and trustee responsibilities. Mr. Tong explains why many fronting insurers increasingly favor trust arrangements over letters of credit due to their operational simplicity, streamlined administration, and ability to provide ongoing visibility into collateral assets. The conversation also examines how reinsurance trusts compare with other collateral options such as letters of credit and funds withheld arrangements. Topics include investment flexibility within trust accounts, liquidity considerations, balance sheet treatment, multibeneficiary and multicell trust structures, and the growing demand for master trust frameworks. Mr. Tong also shares perspectives on how market conditions, liquidity pressures, and rising letter-of-credit costs may continue driving adoption of collateral trusts across the captive insurance industry in the years ahead.
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