Using Captives to Insure Against Black Swan Events

In case you missed it - Sometimes, third-party commercial insurance policies are not always enough. These policies often contain exclusions that prevent coverage during the time it is most needed and can lead to a claim being denied. With programs like ours, we help protect against these black swan risks.

290: VAN CARLSON: ENTERPRISE RISK MANAGEMENT & CAPTIVE INSURANCE STRATEGIES

My guest in this episode is Van Carlson. Van is the CEO of Strategic Risk Alternatives. Van has over twenty years of experience within the risk management industry. Van began his career with Farmers Insurance Group as an agent; eventually growing his book to be among the largest in his home state of Idaho. Van focuses at Strategic Risk Alternatives on risk management primarily and facilitates SRA to assess and solve for the risks our clients have. Van’s primary goal is to continue the upward growth of SRA and continue to develop new products to bring to market.

http://cashflowninja.com/290-van-carlson/

Tesla’s biggest recall to date will fix 123,000 early Model S cars

Tesla is recalling 123,000 Model S cars over an issue that could affect steering. The recall was issued on Thursday and includes Model S cars around the world that were built before April, 2016.

https://www.digitaltrends.com/cars/tesla-recall-123000-model-s-cars/

 

Deloitte Poll Reveals Maturity Shortfalls in Programs to Manage Third Parties

NEW YORK, March 26, 2018 /PRNewswire/ -- According to a recent Deloitte poll, over one-third of respondents define their current organizations' processes to measure and monitor risks in the extended enterprise as "ad hoc" or "reactive," characterized as an "initial" or "managed" phase of extended enterprise risk management (EERM) program development.

http://markets.businessinsider.com/news/stocks/deloitte-poll-reveals-maturity-shortfalls-in-programs-to-manage-third-parties-1002195974

 

Companies see need to manage risks, but they’re slow to act

Nine years ago, just 9% of companies claimed to have a complete enterprise risk management (ERM) process. Today a larger percentage of companies (31%) describe their ERM processes as complete.

https://www.journalofaccountancy.com/news/2018/mar/linking-erm-practices-with-strategy-201818607.html

Are Warranties a Friend or a Foe?

HVAC equipment warranties guarantee the integrity of comfort systems’ performance and contractually ensure manufacturers and installers are responsible for the repair or replacement of defective parts. Such guarantees offer consumers a sense of security as they consider investing thousands of dollars into their homes or buildings. And, as most contractors will attest, the more comfortable a customer is, the more willing he or she is to sign on the dotted line. http://www.achrnews.com/articles/134610-are-warranties-a-friend-or-a-foe

Denver judge fines Zen Magnets $5.5 million for selling recalled products

Zen Magnets has to pay $10,000 for selling tiny spherical magnets that had been ordered recalled by the Consumer Product Safety Commission,  according to a court filing submitted on Wednesday. U.S. District Court Judge Christine M. Arguello also ordered the Denver-based company to destroy the remaining recalled inventory of about 400,000 BB-size magnets, worth about $40,000. http://www.denverpost.com/2016/12/01/denver-judge-fines-zen-magnets-5-5-million-for-selling-recalled-products/

Homeopathic kids' products recalled due to belladonna

Raritan Pharmaceuticals has issued a recall of kids' homeopathic ear relief liquid and teething tablets. The recalled products contain varying levels of belladonna extract, which can be dangerous or fatal when consumed in large doses, according to the US Food and Drug Administration. http://www.cnn.com/2016/11/28/health/raritan-homeopathic-kids-product-recall/

Recalls: Light fixtures, smoke alarms

More than 4 million combination smoke alarm/carbon monoxide detectors are being recalled because they could fail to alert people to an incident. Other recalled consumer products include defective light fixtures and furnaces. http://www.jaspersuntimes.com/news/2016-11-15/recalls-light-fixtures-smoke-alarms

GoPro hits return home on Karma drone with recall of 2,500 units

GoPro on Tuesday recalled of its Karma drone following the discovery that, in a small number of cases, the quadcopters lost power during operation. https://www.cnet.com/news/gopro-karma-drone-recall/