Monday Midday Learning Opps

The Naked CFO: How Insurance Can Leave You Unexpectedly Exposed

  • Monday, July 15
  • 02:15 PM - 03:30 PM
  • Austin Conv Center
  • Level 4, 17A
  • BMO

Speakers

D. Jean Demchak

Managing Director

Marsh

Hartford, Connecticut

Chauncey Fagler

Executive Director & Chief Risk Officer

Florida College System Risk Management Consortium

Gainesville, Florida

Luke Figora

Senior AVP, Risk Management & Chief Risk and Compliance Officer

Northwestern University

Evanston, Illinois

Kathy Hargis

Associate Vice President of Risk Management & Compliance

Lipscomb University

Nashville, Tennessee

Jenny Whittington

Executive Director

University Risk Management & Insurance Association (URMIA)

Bloomington, Indiana

Description

Each institution, whether it serves 500 or 50,000 students, must carry insurance. Recent developments, however, have some CBOs wondering why they buy insurance when claims are excluded due to catastrophic situations. This session’s speakers will highlight the importance of insurance for small and mid-size schools, plus the huge financial impact a large non-insured loss could have on any institution’s bottom line. They will address questions the CFO should ask risk managers about insurance coverage, the problem of insurance exclusions in general, insurance company financial failure risk, and claims that limit insurance recovery. The panelists will also talk about coverage for serial events over multiple years and the role of cybersecurity and insurance in protecting an institution. In addition, the speakers will cover FEMA-eligible applicant issues, FEMA operations and maintenance requirements, and FEMA federal purchasing guidelines as hurdles to qualify for and/or eventually receive reimbursements in the context of analyzing big losses not wholly covered by insurance.

Learning Objectives

  • Assess insurance coverage concerns from the perspective of higher education risk managers
  • Recognize the developments changing the risk profile of higher education institutions and how your risk management solution must evolve in response
  • Assemble strategies to manage emerging risks, including use of the URMIA risk inventory