Managing Risk for Tomorrow, Today

Jeff Kleid, Founder of VCL Risk, dives into the critical role of collaboration among stakeholders in crafting alternative risk programs. He outlines the challenges business owners face in team alignment, especially with varied management styles. Kleid emphasizes the need for education on captive insurance to improve CPAs' understanding. He discusses how transparency in risk management can foster strategic buy-in and prevention of future challenges. By highlighting client fears, he advocates for effective communication and strong broker-client relationships.

Bruce and Adam discuss the importance of thoroughly reading and understanding business insurance agreements, emphasizing that many people often skip this step, leading to potential legal issues. They highlight the need for trusted advisors to guide clients through the details of engagement letters and management agreements, ensuring clarity on terms and exit clauses before signing and stressing the value of asking questions and being well-informed to avoid future complications. Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

 Adam Perea, Vice President of Elite Risk Insurance, discusses the crucial factors in selecting a captive manager. Adam highlights the importance of understanding the manager's expertise, asking the right questions, and ensuring alignment with the business's goals. He covers key considerations such as price, location, domicile, and the types of captive programs available. Adam emphasizes the need for thorough research and due diligence to avoid limitations and ensure the chosen manager can meet all risk management needs effectively. Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

In this episode of "Managing Risk for Tomorrow Today" with Henry Laville, the focus is on mitigating risks in the trucking industry. Henry emphasizes the importance of hiring and retaining the best drivers, highlighting that competitive pay and a supportive work environment can reduce turnover and enhance safety. He also discusses the significance of safety programs, regular vehicle maintenance, and the use of technology such as cameras and GPS systems to prevent accidents and fraudulent claims. By implementing these strategies, trucking companies can protect their assets, improve their marketability to insurers, and ensure their drivers return home safely.Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

In this podcast, Bruce and Henry discuss how franchise and association businesses can team up for better insurance deals. Joining forces helps them get customized coverage and lower premiums. Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

In this podcast, Bruce Silverman and Henry Laville discuss challenges faced by businesses in industries like concrete pumping and waste management, known as the "créme of the crap," and Henry offers creative solutions and a unique model to address insurance challenges for these high-risk operations, emphasizing the importance of hiring quality drivers.Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

The podcast discusses managing risks in a tough market, with a focus on risk retention groups offering cost savings. It emphasizes tailoring solutions to each client's needs and explores a case study of a company benefiting from decreased premiums. The importance of finding solutions, building relationships, and navigating hard market conditions is also highlighted.

Jeff Kleid, FounderVCL Risk, discusses the impact of increasing rates in the excess liability market on business owners. The podcast explores the evolution of the excess market and the shift from a mathematical-based business to a creative industry. It also highlights the effects of inflation on the insurance industry and emphasizes the importance of managing risk creatively.

In this podcast episode, Adam Perea, VP of Elite Risk Insurance, discusses relationships, partners, and clients in the insurance industry. The episode underscores Elite Risk's ability to serve all three categories. Open communication is key, and they evaluate and provide solutions for diverse insurance needs. The host, Bruce Silverman, appreciates Elite Risk's expertise.Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com

In this episode of "Managing Risk Tomorrow," Bruce and Adam discuss the challenges and changes in the insurance industry. They delve into the concept of "bandaids" as temporary solutions for insurance challenges, particularly in a hardening market. They explore how businesses can navigate rising insurance costs and find creative solutions to meet their coverage needs.Jeff Kleid, FounderVCL Risk800-979-0176jdkleid@eliterisk.com