Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

This episode of RIMScast is proudly sponsored by Hillwood. Hillwood is a leading multinational real estate development company and part of the Perot family of companies. For more information, visit Hillwood.com.

Justin Smulison interviews four guests today, SORM Executive Director, Stephen Volbrecht, SORM Division Chief of Strategic Programs, James Cox, SORM Chairman of the Board of Directors, Gerald Ladner, Sr., and DFW RIMS Chapter Board Member Penni Chambers. The discussion covers the various roles of Stephen, James, and Gerald in SORMS, the purpose and development of SORMS over the years, and how SORMS manages risks for all the state of TEXAS. They also speak of the upcoming RIMS DFW 2024 Fall Conference on September 19th at the Irving Convention Center in Irving Texas and what they will present there.

Listen in for ERM wisdom and a preview of the RIMS DFW 2024 Fall Conference.

Key Takeaways:

[:01] About our sponsor, Hillwood.

[:13] About this episode of RIMScast, coming to you from RIMS Headquarters in New York. Our guests are from the Texas State Office of Risk Management.

[:37] First, let's talk about RIMS Virtual Workshops. The full calendar of virtual workshops is at RIMS.org/VirtualWorkshops. August 15th kicks off the three-part series, Leveraging Data and Analytics for Continuous Risk Management. Other dates for the Fall and Winter are available on the Virtual Workshops full calendar at RIMS.org/VirtualWorkshops.

[1:01] Let's talk about prep courses for the RIMS-CRMP. The next virtual offering will be on August 7th and 8th, a RIMS-CRMP Exam Prep along with Utah Valley University.

[1:13] The next RIMS-CRMP-FED Exam Prep course will be hosted along with George Mason University on December 3rd through 5th, 2024. Links to these courses can be found on the Certification Page of RIMS.org and in this episode's show notes.

[1:28] Registration opened for the RIMS Canada Conference 2024 which will be held from October 6th through the 9th in Vancouver. Visit RIMSCanadaConference.ca to register. All RIMS regional conference information can be found on the Events page at RIMS.org.

[1:47] We would like to extend a big "Thank You" to today's sponsor, Hillwood. Hillwood is a leading multinational real estate development company and part of the Perot family of companies. Hillwood's diverse portfolio includes industrial, logistics, corporate offices, retail, aviation, and multi-family housing developments.

[2:05] Notably, Hillwood's Alliance Texas project has generated over 66,000 jobs and a $120 billion economic impact. Hillwood operates in 65 markets across North America and Europe, constantly seeking opportunities to create vibrant communities and deliver value to its partners.

[2:23] Hillwood specializes in e-commerce industrial development, serving some of the world's largest retailer brands. Its residential communities division is dedicated to creating truly unique, master-plan communities. In 2023, Hillwood sold 2,141 homes in its communities and delivered nearly 1,500 lots to builders with more than 3,800 lots in the pipeline for 2025.

[2:45] Hillwood is also leading the development team for Goldman Sachs's new facility in uptown Dallas. As a privately owned company, Hillwood prioritizes long-term sustainability: social, economic, and environmental. For more information, visit Hillwood.com.

[3:05] Today we will be joined by leaders of the Texas State Office of Risk Management. They will participate in a panel discussion on September 19th at the DFW RIMS Annual Conference and Event.

[3:18] They're a fabulous chapter and that event will be held at the Irving Convention Center in Irving, Texas. A link is in this episodes' show notes. Visit DWWRIMS.org for sponsorship opportunities and registration information.

[3:31] Our guests today will discuss what it takes for the Texas State Office of Risk Management to function, how they prepared and reacted to Hurricane Beryl in July, and we'll talk ERM and how some of their military experiences have enabled them throughout their risk careers and at the Texas State Office of Risk Management (SORM).

[3:55] SORM Executive Director, Stephen Volbrecht, Division Chief of Strategic Programs, James Cox, and Chairman of the Board of Directors, Gerald Ladner, Sr., welcome to RIMScast!

[4:54] Stephen Volbrecht is the State Risk Manager for Texas and Executive Director of SORM. The office administers the Enterprise Risk Management Program, the Insurance Management Program, the self-insured Workers' Compensation Program, and the Continuity of Government Operations Program. Those are the four key missions of the Texas SORM.

[5:58] Gerald Ladner, Sr. has been in the industry for 42 years and successfully navigated four hard markets. He has played roles with global and domestic U.S. insurance companies and is still engaged with the industry even though he's semi-retired.

[6:29] Gerald has also served as a broker. He has insured prominent clients like the Coca-Cola Company, the City of Atlanta, Fulton County, and The Southern Companies. He quoted on the Boston Artery Tunnel Project, which capped the global reinsurance industry supply. Gerald's last assignment was as a Regional President at State Auto Insurance Company.

[6:52] Gerald is involved today in independent board work, as well as serving his Alma Mater, and has served as Insurance Commissioner Appointee for the Texas Property and Casualty Guarantee Insurance Association, as well as the Texas Medical Liability Joint Underwriting Association. Gerald's turn as Chairman of the Board at SORM expires in 2027.

[8:01] James Cox is the Division Chief of Strategic Programs at SORM. His job is to take the vision that Gerald has and the strategic view that Stephen has and make them applicable to the Texas state agencies. He does the daily work that supports their vision and mission. He has an insurance adjuster license, an agent license, a notary, and a risk manager license.

[9:40] Stephen Volbrecht has been with SORM for more than 20 years in various roles. He joined in 2001, just before 9/11. The office was created in 1996 and went into operation in 1997. It was created to get workers' compensation costs under control for Texas state employees.

[10:37] At that time, The Office of the Attorney General, Workers' Compensation Division, paid Workers' Compensation claims while the Department of Insurance, Division of Health and Safety, had the Texas Workers' Compensation Commission. The two agencies didn't communicate directly.

[11:38] Texas combined the Attorney General's Workers' Compensation Division and the Department of Insurance's Workers' Compensation Commission and created the State Office of Risk Management.

[11:49] Within two years, they had dropped Workers' Compensation costs by over $30 million, and not by denying claims or cutting corners. They paid claims more timely, stopped disputing claims, and prevented injuries from happening through risk management.

[12:30] They continually put pressure on costs, even as medical inflation rises. Texas pays about $40 million a year for accidents and injuries. Because of success with Workers' Compensation, SORM now has three additional missions, the Enterprise Risk Management Program, the Insurance Management Program, and the Continuity of Government Operations Program.

[13:42] SORM worked with the Federal government to design the Texas Continuity of Government Operations Program, helped the State Legislature adopt it, and then was tasked with implementing it. Gerald Ladner and James Cox use their industry knowledge to develop procedures and frameworks for the Insurance Management Program.

[14:58] SORM is a fundamentally different agency than the office Stephen joined in 2001 because the scope of its mission set has expanded greatly over the 20-plus years.

[15:32] SORM is a fairly large office compared to what other states might have. It's an office of specific subject matter experts over each of the domains it covers. It has a broad scope, including Enterprise Risk Management.

[16:02] Gerald says SORM has a small board of five members responsible for strategic guidance, governance, innovation, leadership, risk management, stakeholder engagement, performance monitoring, and mentorship to the executive team. The board can decide quickly and anticipate the areas of risk they need to look at and how the organization will address them.

[16:45] Justin takes a brief break and thanks Hillwood for sponsoring this episode. Hillwood operates in 65 markets across North America and Europe, constantly seeking opportunities to create vibrant communities and deliver value to partners. Visit Hillwood.com for more information and to seize those opportunities.

[17:08] Justin also dives deeper into the RIMS DFW 2024 Fall Conference and Spa Event that will be held on September 19th and 20th in Irving Texas. Here to tell us a little bit more about it is an omnipresent force among DFW RIMS members; Penni Chambers, welcome back to RIMScast!

[17:34] This episode is airing almost four years after Penni made her RIMScast debut. A lot has changed in four years!

[18:20] Penni is Vice President of Risk Management at Hillwood. She is in charge of a team of two that maintains, procures, and does all things insurance for all of Hillwood and its enterprise companies, including land and cattle, oil and gas, and aviation.

[18:52] Penni's role at RIMS has changed. She is serving the constituents of the RIMS chapters and members by being a proud board director. Penni is a lifelong member of DFW RIMS and a former president, serving a term in 2019.

[19:30] Penni will moderate the kick-off session of the RIMS DFW 2024 Fall Conference on September 19th at the Irving Convention Center in Irving Texas. She will be moderating a panel with today's guests, from the Texas State Office of Risk Management, Stephen Volbracht, Gerald Ladner, and James Cox. There will be so much talent and knowledge on that panel!

[20:09] Penni is so excited to moderate this panel. They will go through the who, what, when, where, and why for this panel. They will talk about governance and the legislative process, and how they manage and procure their liabilities and assets. Texas is huge. These gentlemen have a great responsibility. Penni is excited to get to interview them!

[21:04] Besides this panel, attendees can also expect workshops, a risk managers' luncheon, and other speakers and presenters. On Friday, the 20th, they have a Spa Day. The Spa Day is one of the things that sets the DFW annual conference apart. Chill out a bit at the DFW RIMS Annual Conference. They go big on this deal!

[22:04] Registration is open to members and non-members. Join the DFW RIMS for two days of fantastic events! Enticed? Go to DFWRIMS.org for more information and to register.

[22:42] Penni says they are so excited to have everyone who is joining them for this event. This is going to be one of the best DFW RIMS Annual Conferences they have ever had!

[22:52] Justin thanks Penni and looks forward to seeing her at the 2024 Fall Conference and Spa Event hosted by the DFW RIMS Chapter on September 19th and 20th! Visit DFWRIMS.org for more information. A link is in this episode's show notes.

[23:10] Let's return to Justin's interview with the Texas State Office of Risk Management.

[23:22] Gerald compares the challenges of his current position to those of the senior leadership roles he has held at insurance companies. It's an opportunity to educate and inform the public in terms of what they do to deal with the issues that emerge in a new area of risk. Gerald says that fortunately, he has been able to survive all the challenges of a very tough business.

[24:02] The leadership at SORM focuses on retention, making sure that the team's service to the state is valued and that they have unique growth opportunities. SORM is essentially an insurance company with brokered services.

[24:38] They have to make sure the products that are offered are current and forward-leaning, with the metrics in place for timely delivery of services for injured employees. Gerald speaks of how quickly SORM responded to the pandemic.

[25:10] Stephen Volbrecht adds that it's important to understand that SORM is, at the foundation, a service organization. They exist to offer support to state agencies for their risk management concerns and objectives. SORM operates as a consultant, assessor, and advisor. SORM is not a regulatory agency, enforcement agency, or auditor. It's 100% about service.

[27:13] Beryl was a Category 1 hurricane. James Cox says he joined SORM when Harvey was hitting the coast. That's where the preparedness started for Beryl. Before Beryl hit land, SORM was implementing the things they did post-Harvey.

[28:05] Stephen speaks of resilience. You can't prevent an Act of God. He cites the 9/11 Commission. Their primary finding was that the most important failure was one of imagination. Leadership failed to appreciate the gravity of the threat. SORM has the approach never to underestimate what can happen. Uncertainty is at the basis of all risk.

[29:41] Anticipate the worst-case scenario, prepare for that, and go from there. SORM ensures that every state entity under its jurisdiction has an updated and validated Continuity of Operations Plan. You can't prevent a disaster but you can mitigate it. There are lessons learned not just from Harvey but from the freeze events that hit Texas for three years running.

[30:34] There are mitigation efforts that get put into place after we learn our lessons. Use after-action reports. What failed? Don't do that again. What succeeded? Do more of that! Texas put in dams to prevent inundation of water. They put in automated systems for dampers on air conditioning for the freeze events.

[31:07] They went steps further in responding to situations based on risk management reviews and assessments to have product and service contracts and materials pre-staged for when these events happen so that you can bring up your services within hours, not weeks. That has a direct cost impact and an impact on the individuals that are being affected.

[31:38] SORM has saved hundreds of millions of dollars in downtime and both direct and indirect expenses compared to where they found themselves as recently as Harvey. You can value the ROI in cost avoidance by comparing years without risk management controls and the years after risk management controls have been implemented.

[32:56] James comments about Hurricane Beryl and after-action reports. An internet provider in the area went down, causing restaurants to only take cash. Agencies need the ability to switch from one carrier to another depending on if the carriers are operating.

[34:04] Gerald says the board looks forward to the strategic plan that the executive director shares with them and they have the opportunity to acid-test it to make sure they are covering all the areas so they don't have a failure of the imagination. The board maintains the culture and listens to the employees. They invite employees to attend board meetings. They get a full house.

[34:56] It shows the employees an alignment between the board and the leadership team. The board gives the executive performance review and the employees will hear areas of outstanding work and areas to focus on in the future. The board seeks to maintain that alignment.

[35:32] It's RIMS plug time! Webinars! Servpro makes its RIMS Webinars debut on August 8th with Hurricane Preparedness in 2024: Innovations and Strategies to Protect Your Organization. On August 27th, Riskonnect returns to discuss How To Successfully Deploy AI in Risk Management.

[35:57] On September 12th, Hub International returns to deliver the third part of their Ready for Tomorrow series, Pivot and Swerve Staying Agile During Shifting Market Dynamics. More webinars will be announced soon and added to the RIMS.org/Webinars page. Go there to register. Webinar registration is complimentary for RIMS members!

[36:20] We would like to express our thanks to Hillwood for sponsoring this episode of RIMScast. Hillwood is a leading multi-national real estate development company and part of the Perot family of companies. Their diverse portfolio includes industrial, logistics, corporate office, retail, aviation, and multi-family housing developments.

[36:43] Hillwood operates in 65 markets across North America and Europe, constantly seeking opportunities to create vibrant communities and deliver value to partners. Seize those opportunities by visiting Hillwood.com.

[36:59] Let's return to my interview with Gerald Ladner, Sr., Stephen Volbrecht, and James Cox of the Texas State Office of Risk Management.

[37:28] James is a veteran of the U.S.A.F. Stephen is a Captain in the Judge Advocate General Corps. Justin thanks them for their service and asks how those experiences lend themselves to effective risk management.

[38:02] James says no matter the specialization in the military, the military does very well operating in high- or higher-risk environments. They drill mission and safety in equal parts. The military mindset is understanding the chain of command, codes, and standards, and what you are basing your risk on. If you don't know the accepted way to do a thing, it is a risk nightmare.

[38:49] James has found that using his military background, he knows where to look for how to treat a type of risk. That background transitions easily to risk management.

[39:18] Gerald's father did three tours in Vietnam. His daughter went to West Point and was in Iraq. He understands the military mindset. It reflects the strengths we now find in the SORM organization with clear chains of command but also an environment where associates can come forward and bring their issues and opportunities.

[40:18] Stephen and James are on the Technical Advisory Group (TAG) for ISO 31000. Stephen says the ISO 31000 framework and other ERM frameworks are essential for SORM. Risk management is about decision-making. The ISO model is that risk is always negative. What you are trying to do is avoid the bad things.

[42:43] Stephen says the effect of uncertainty on objectives can be positive, negative, or neutral, whether it's an opportunity, an obstacle, or an obligation. That's where ISO 31000 comes in. For some time, Texas was the only state to adopt ISO 31000 as the state ERM standard. They did it through the utilization of guidelines written in collaboration with contributors.

[43:29] They're called the Texas Enterprise Risk Management Guidelines. They don't tell people what to do but they give people a framework for how to answer questions of risk and make decisions. The meta-framework of the guidelines is called Governance, Risk, and Compliance (GRC), developed by OCEG, the Open Compliance and Ethics Group.

[44:23] The meta-framework of GRC is that enterprise risk is about critical disciplines. That's the true enterprise risk model. It deals with governance and oversight, Gerald's role; and strategy and performance, James's role. Risks and decisions, compliance and ethics, security and continuity, audit and assurance; each of these domains has to be integrated into an ERM model.

[45:00] SORM uses ISO 31000 as it is sufficient to their needs, but they still pull from other standards, such as COSO or SERM.

[45:58] James says it's not necessarily the brand of framework you choose that is important. It's the vocabulary that you need to understand. SORM picked ISO 31000 and all the state agencies they work with took a course in it so they all had the same vocabulary. As long as everyone understands the standard, they can apply it.

[46:44] The Texas Enterprise Risk Management Guidelines are known as the TERM-G or TERM Guidelines.

[47:24] Gerald has a degree in psychology. It was a soft skill that was sought when he entered the workforce. There's a lot of stress on employees and it's important for the leadership team to have the right skill set to work with stressed employees and meet some of their needs. Gerald recalls Enron and the need to make hard choices about ethical behavior.

[51:03] Gerald has had an extensive relationship with RIMS. He reminisces about attending RISKWORLD many times when he was with Zurich and cutting deals on the floor. We're in a world where change is increasing and the ability to get fresh, insightful information allows organizations like SORM to think through the next round of strategies to manage the risks.

[52:23] Gerald knows the value in RIMS and looks forward to participating in this upcoming panel at DFW.

[52:33] Gerald, Stephen, and James will be at the RIMS DFW Conference in September. Gerald will discuss the macro forces at work that have the potential to impact loss cost for SORM, and the state of the reinsurance market which is linked to SORM's ability to get property capacity.

[53:06] Gerald says they want to talk about the interplay between risk managers and the boards they report to. Boards are taking a harder look at risk managers. Boards don't like surprises. It takes quality communication with the board. There also has to be strong orientation of new board members so they can act as proactive business partners as they face the challenges.

[53:56] Also, the an ongoing discussion about broadening risk appetite and tolerance. The importance of parametric insurance, understanding how the market is behaving. Capacity is being contracted in Florida and the Gulf states and there have to be additional ways of dealing with risk. SORM provides good advice-based education on the proper coverages needed.

[55:09] James will talk about how, when he was a new risk manager years ago and risks were new to him, through RIMS, he was connected with a host of individuals who had seen the same risks every day and were veterans of it. RIMS is a support system for a new risk manager.

[55:22] He will speak of the tools RIMS provides, like the benchmark surveys, white papers, and articles, like the Hurricane Preparedness 2024 article, that came out 15 days before Beryl was approaching across the Gulf. SORMS is similar to an insurance carrier in Texas, except they want to look at your risk model, policies, and procedures. If there's a gap, then get insurance.

[56:31] SORMS is not in it for profit but for protection and what's best for the state of Texas.

[56:43] Stephen will talk about the relationships with RIMS over the years the relationships established and the outstanding resources that are available. He finds the compensation report a bit of a downer, though, personally, working for the State Government!

[57:32] RIMS and associations like RIMS are essential for upholding high ethical standards and integrity in the profession and are also important for self-governance. When professionals agree on high standards of operation, that keeps the government out of your business. Stephen also talks about other aspects of SORM that people may not know about.

[59:41] There are big risks on the horizon that could be talked about, like climate change, cybersecurity, artificial intelligence, political risk, civil unrest, inflationary pressures, global market volatility and alternative risk financing, and the pandemic moving into endemic with massive economic and societal impacts.

[1:01:20] Justin thanks Gerald Ladner, Sr., Stephen Volbrecht, and James Cox for being on RIMScast. Anyone who wants to hear more from SORM will travel out to Dallas on September 19th for the DFW RIMS Annual Meeting! Justin will be there and looks forward to seeing them in person, hearing what they have to say, and shaking their hands for a big group shot!

[1:01:57] Special thanks again to all of our guests from the Texas State Office of Risk Management, Gerald Ladner, Sr., Stephen Volbrecht, James Cox, and of course, former DFW RIMS President, Penni Chambers, who was also on the RIMS Board of Directors. The DFW RIMS Fall Conference and Spa Event will be held on September 19th and on the 20th is Spa Day.

[1:02:24] Visit DFWRIMS.org to register.

[1:02:27] Extra special thanks to our sponsor Hillwood. Hillwood is a leading multi-national real estate development company and part of the Perot family of companies. Hillwood's diverse portfolio includes industrial, logistics, corporate, office, retail, aviation, and multi-family housing developments.

[1:02:43] Notably, Hillwood's Alliance Texas project has generated over 66,000 jobs and a $120 billion economic impact. Hillwood operates in 65 markets across North America and Europe, constantly seeking opportunities to create vibrant communities and deliver value to its partners. Visit Hillwood.com for more information.

[1:03:07] It's Plug Time! The RIMS App is available to RIMS members exclusively. Go to the App Store and download the RIMS App with all sorts of RIMS resources and coverage. It's different from the RIMS Events App. Everyone loves the RIMS App!

[1:03:42] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate! Contact pd@rims.org for more information.

[1:04:26] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information.

[1:04:43] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[1:04:59] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. Justin Smulison is the Business Content Manager at RIMS. You can email Justin at Content@RIMS.org.

[1:05:21] Thank you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

Mentioned in this Episode:

DFW RIMS 2024 Fall Conference and Spa Event | Sept 19‒20

About our sponsor, Hillwood: Hillwood.com

RIMS Canada Conference 2024 — Oct. 6‒9 | Registration is open!

RISKWORLD 2025 will be in Chicago! May 4‒7

RIMS DEI Council

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS Strategic & Enterprise Risk Center

NEW FOR MEMBERS! RIMS Mobile App

Spencer Educational Foundation — Funding Their Future Gala 2024

RIMS Webinars:

Hurricane Preparedness in 2024: Innovations and Strategies | Sponsored by ServPro | Aug. 8, 2024

How to Successfully Deploy AI in Risk Management | Sponsored by Riskonnect | Aug. 27, 2024

HUB Ready for Tomorrow Series: Pivot and Swerve — Staying Agile During Shifting Market Dynamics | Sept. 12, 2024 RIMS.org/Webinars

Upcoming Virtual Workshops:

Leveraging Data and Analytics for Continuous Risk Management (Part I) 2024 — Aug 15

See the full calendar of RIMS Virtual Workshops

RIMS-CRMP Prep Workshops

Sponsored RIMScast Episodes:

"Partnering Against Cyberrisk" | Sponsored by AXA XL (New!)

"Harnessing the Power of Data and Analytics for Effective Risk Management" | Sponsored by Marsh

"Accident Prevention — The Winning Formula For Construction and Insurance" | Sponsored by Otoos

"Platinum Protection: Underwriting and Risk Engineering's Role in Protecting Commercial Properties" | Sponsored by AXA XL

"Elevating RMIS — The Archer Way" | Sponsored by Archer

"Alliant's P&C Outlook For 2024" | Sponsored by Alliant

"Why Subrogation is the New Arbitration" | Sponsored by Fleet Response

"Cyclone Season: Proactive Preparation for Loss Minimization" | Sponsored by Prudent Insurance Brokers Ltd.

"Subrogation and the Competitive Advantage" | Sponsored by Fleet Response

"Cyberrisk Outlook 2023" | Sponsored by Alliant

"Chemical Industry: How To Succeed Amid Emerging Risks and a Challenging Market" | Sponsored by TÜV SÜD

"Insuring the Future of the Environment" | Sponsored by AXA XL

"Insights into the Gig Economy and its Contractors" | Sponsored by Zurich

"The Importance of Disaster Planning Relationships" | Sponsored by ServiceMaster

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interviews featuring RIMS Risk Management Honor Roll Inductee Mrunal Pandit!

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.

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About our guests:

Stephen Volbrecht, Executive Director for the State Office of Risk Management (SORM)

James Cox, Division Chief of Strategic Programs (SORM)

Gerald Ladner, Sr., Chairman of the Board of Directors (SORM)

Penni Chambers, former DFW RIMS president and RIMS Board Chairperson

Tweetables (Edited For Social Media Use):

The cheapest injury that you ever have is the one that doesn't happen. — Stephen Volbrecht

Our approach is never to underestimate what can happen. Uncertainty is at the basis of all risk; not understanding what the consequences may be. So what you do is you anticipate the worst-case scenario, you prepare for that, and then you go from there. — Stephen Volbrecht

No matter the specialization in the military, the military does very well operating in high- or higher-risk environments. They drill mission and safety in equal parts. — James Cox

We're in a world where change is increasing and the ability to get fresh, insightful information allows organizations like SORM to think through the next round of strategies so that we can manage the risks. — Gerald Ladner, Sr.

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