The Edge of Risk Podcast by IRMI

As captive insurance companies become increasingly sophisticated, owners face evolving legal, regulatory, and tax considerations that require careful planning and ongoing oversight. In this episode of The Edge of Risk podcast by IRMI, host Joel Appelbaum speaks with Bailey Roese, partner at Dentons, representing the Self-Insurance Institute of America (SIIA). Ms. Roese discusses the importance of establishing captives for legitimate risk management purposes, selecting appropriate structures and domiciles, and maintaining sound governance practices throughout the captive life cycle. The conversation examines board responsibilities, documentation, claims administration, and the importance of operating captives as bona fide insurance companies. Ms. Roese also addresses Internal Revenue Service (IRS) scrutiny of micro-captives, the broader implications of captive insurance tax litigation, and the distinction between state insurance licensing and federal tax qualification. She explains how corporate restructuring and the addition of new risks can affect captive operations and tax treatment, emphasizing the importance of knowledgeable service providers, regulatory relationships, and ongoing education.

As healthcare costs continue to rise, employers are exploring stop-loss captives as a way to gain greater control over healthcare risk, improve cost predictability, and strengthen their employee benefits strategies. In this episode of The Edge of Risk, host Joel Appelbaum speaks with Nikita Chaudhry, principal and senior actuary at Windsor Strategy Partners, and Tanya Arrowsmith, senior vice president at Crum & Forster, representing the Self-Insurance Institute of America. They explain how stop-loss captives work, what makes an employer a suitable candidate, and how these arrangements can evolve beyond financing large claims to support broader healthcare management objectives. The discussion examines the importance of actuarial analysis in establishing appropriate funding levels, retention structures, and long-term financial sustainability, along with the role of fronting insurers and other partners. Ms. Chaudhry and Ms. Arrowsmith also explore how claims data, predictive analytics, and ongoing performance monitoring can help employers identify emerging risks, improve care management, and guide investments in pharmacy management and other cost-containment initiatives. They conclude with perspectives on specialty pharmaceutical costs, artificial intelligence, and the growing accessibility of group captives for small and midsize employers.

Today's farms rely on more technology than ever before. That connectivity is creating exciting opportunities, but it also introduces new risks. In this Edge of Risk podcast episode, recorded live at the 2026 IRMI Emmett J Vaughan Agribusiness Conference in Nashville, Joel Appelbaum talks with Joann Webb of Berkley North Pacific about precision agriculture, the evolving digital farm ecosystem, and the cyber challenges facing modern operations. Listen in for practical takeaways to help producers, agents, and insurers stay ahead in a rapidly changing agricultural landscape.

The Edge of Risk podcast by IRMI welcomes Tricia Kagerer, executive vice president of risk management at Jordan Foster Construction. Tricia's presentation, which was originally provided as a snap talk at the 2025 IRMI Construction Risk Conference (CRC), highlights some of the top challenges women in the construction and insurance industry face. Tricia talks about factors such as jobs demanding constant availability that punish those with caregiving responsibilities, psychological safety, and underrepresentation in advancement. Listen in as Tricia summarizes these top risks and learn actionable strategies companies can implement to foster safer, more equitable workplaces for everyone.

Hear a conversation on lessons learned from implementing telematics in complex energy operations, plus emerging technologies shaping the future of fleet risk management. This is how telematics moves beyond compliance and insurance pricing to become a strategic risk management tool. In this episode of The Edge of Risk podcast by IRMI, Joel Appelbaum sits down with Michael Tuomi, vice president of health, safety, environment, and training at Liberty Energy, to explore ways that telematics can uncover leading indicators of loss, provide valuable claims context, and support more effective driver coaching. They also discuss how organizations are using telematics data to identify high-risk behaviors, strengthen accountability, enhance contractor oversight, and make more informed fleet risk decisions.

Managing general agents (MGAs) increasingly use captive insurance to participate in underwriting results, support program growth, and build greater stability across market cycles. Anne Marie Towle and Alex Gedge of Hylant explain how MGAs, fronting insurers, captive insurance companies, and reinsurers work together within these structures, and why alignment among the parties is essential. The conversation examines fronting relationships, underwriting discipline, capital adequacy, risk transfer, and the governance responsibilities that arise as programs expand. Ms. Towle and Ms. Gedge also discuss using data and performance indicators to guide decisions, support loss control, and keep a captive aligned with an MGA's long-term strategy.

Discussions around additional insured coverage are ubiquitous in the construction industry. This month, The Edge of Risk podcast by IRMI welcomes Jeffrey Vita, partner at Saxe Doernberger & Vita, in his presentation providing tips on how to maximize additional insured coverage. Listen in as Jeff provides practical tips that insureds and their representatives can put into practice immediately to maximize and clarify additional insured coverage. This presentation, which was originally provided as a snap talk at the 2025 IRMI Construction Risk Conference, highlights important aspects such as confirming the main parties involved in the construction contract, verifying manuscript endorsements, and understanding the consequences of choice of law.

Food recalls are making headlines with increasing frequency, creating challenges that extend far beyond removing products from store shelves. In this episode of The Edge of Risk podcast by IRMI, Marty Detmer, US national practice leader for product recall and contamination at Aon, discusses what triggers a recall, why events like cyclospora outbreaks can be so difficult to manage, and the operational, financial, and reputational risks organizations face. It's a timely conversation for anyone involved in agriculture, food production, or the food supply chain.

As battery energy storage systems (BESSs) continue to expand across the energy sector, insurers, developers, and operators are working to better understand the risks associated with rapid deployment. In this episode of The Edge of Risk podcast, recorded live at the 2026 IRMI Energy Risk & Insurance Conference, Joel Appelbaum welcomes Jen Aitchison, renewable and sustainability practice leader at HUB International, to discuss the factors shaping BESS's risks today. Their conversation goes beyond thermal runaway to examine transportation exposures, business interruption concerns, balance-of-system risks, large-scale fire testing, warranties, and the growing influence of industry codes and standards. They also explore evolving underwriting practices, emerging technologies, and risk management strategies that support the long-term growth and insurability of energy storage. Tune in for an informative look into the intersection of renewable energy innovation, risk management, and insurance.

Captive insurance is increasingly viewed as a strategic risk management tool rather than simply an alternative to the commercial insurance market. Sam Komo, captive manager for the Missouri Department of Commerce and Insurance's Captive Insurance Program, discusses the importance of clear business purpose, realistic financial assumptions, adequate capitalization, experienced advisers, strong governance, and long-term organizational commitment. Recorded live at the 2026 Vermont Captive Insurance Association Annual Conference, the conversation also examines the Midwest's growing role in captive insurance, the collaborative purpose of the Mid Rivers Risk Forum, and opportunities involving enterprise risk management, emerging risks, group and association structures, data analytics, technology, and artificial intelligence.