Business Insurance | RIMS 2018 | Monday, April 16

San Antonio | April 15-18 MONDAY 20 18 SHOW DAILY APRIL 16, 2018Q&A: STEPHANIE MALISH RIMS gets set for conference to remember in San Antonio Stephanie Malish, director of risk BY GLORIA GONZALEZ management at NuStar Energy, The Risk & Insurance Man- Cyber risk management will tiple technology systems and and president of agement Society Inc.’s annual once again be a major topic of how various insurance policies the South Texas conference has arrived in the the RIMS conference, with ses- could apply. chapter of RIMS, home of the Alamo. sions outlining steps directorswhich is hosting this year’s event, and officers can take to protect Other cyber-themed sessionsdiscusses her expectations for the About 10,000 people are their organizations and them- will trace one organization’sconference and issues affecting risk expected to attend the RIMS cyber incident journey throughmanagers in Texas. 2018 conference and exhibition, Alex Sheen, founder of various stages such as breach PAGE 6 which is being held in San Anto- notification, class action law- nio, Texas, for the first time. The the nonprofit organization suit, regulatory investigation Time to ramp up conference has previously been and settlement negotiations,action on diversity: held three times in Texas — in “because I said I would,” while another will examine the RIMS president Houston in 1966, and in Dallas cyber risk posed by “trusted in 1975 and 1999. will deliver Monday’s insiders.” BY GLORIA GONZALEZ Alex Sheen, founder of Rocky opening keynote speech. The Innovation Hub will pro- The Risk & Insurance Man- River, Ohio-based nonprofit vide 20-minute educationalagement Society Inc.’s first Afri- “because I said I would,” will selves from cyber attacks and presentations on developmentscan-American president says deliver the opening keynote identifying new risks presented in emerging risks related todiversity and inclusion has to be speech at the conference on by the “internet of things” and technology such as drones andmore than just a conversation — Monday. Inspired by his father’s the interconnectedness of mul- autonomous vehicles on Mon-it has to be about action. battle with cancer, the organiza- tion delivers promise cards that See PREVIEW page 12 But diversity is not just about aim to ensure accountability forgender, race and social econom- meeting commitments.ic background — it’s also aboutdiversity of ideas and thoughts, Vernice “FlyGirl” Armour, America’s first African-Amer-RIMS President Robert Cartwright ican female pilot, will discussJr. and Liz Cole of Marsh L.L.C. her evolution from beat cop toRobert Cartwright Jr., Exton, combat pilot during the RIMSPennsylvania-based safety and award luncheon on Monday.health manager at BridgestoneRetail Operations L.L.C. and pres- RIMS “hot topic” conferenceident of the RIMS board of direc- sessions will discuss issuestors, said at the society’s first-ev- such as artificial intelligence,er diversity and inclusion meetup marijuana’s impact on the workers compensation sector See DIVERSITY page 12 and the workplace, opioid liti- gation and sexual harassment claims and risk management. GOLF TOURNAMENT PUERTO RICO PHOTO GALLERY Annual outing benefits The road to recovery Snapshots from RIMS Spencer Foundation after 2017 cats is long weekend events PAGE 3 PAGE 4 PAGE 8 Entire contents copyright by Business Insurance Holdings. All rights reserved.

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CONFERENCE COVERAGE | MONDAY,APRIL16 San Antonio | April 15-18Golfers raise fundsfor risk managementeducation programs Ninety-three golfers teed off at amount of money raised in the Spencer/Gallagher golf outing winners are, from left, Nahua Maunakea,the start of the Risk & Insurance tournament was not available risk manager for IHS Markit; Jason Flaxbeard, captive practice leader atManagement Society Inc.’s annu- late Sunday, but one organiz- Beecher Carlson; George Ward, senior director risk of management foral conference Sunday during the er estimated that $35,000 was USA Swimming; and Tom Nix, insurance director for Vail Resorts.27th annual Spencer/Gallagher raised.Golf Tournament, held at the HillCountry Golf Club in San Anto- The first-place team includednio, Texas. Jason Flaxbeard, George Ward, Tom Nix and Nahua Maunakea. The annual outing raises In second place were Robertmoney for the Spencer Educa- Huxtable, RL Trailor and Robtional Foundation Inc., which Leitner. The team taking thirdprovides scholarships to college place included Butler Bourgeois,students studying risk manage- Ross Dowler, Bradley Schultzment and insurance. The exact and Peter Searson. BUSINESS INSURANCE RIMS 2018 3

San Antonio | April 15-18 CONFERENCE COVERAGE | MONDAY,APRIL16 Puerto Rico’s rebuilding experienceshines light on U.S. disaster preparednessBY GLORIA GONZALEZ SAN JUAN, Puerto Rico — Luis Luis Herrera, engineer for the city of Caguas, Puerto Rico, top left in hard hat, discusses the reconstruction ofHerrera, engineer for the city of the Bairoa Bridge during a recent tour. Rebuilding efforts across Puerto Rico are progressing slowly, hamperedCaguas in Puerto Rico, is literal- by a lack of timely funding.ly building bridges in the wake ofHurricane Maria. infrastructure tour organized for the allocation of the remain- PREPA power plant in Monacillo, by Zurich North America and der of the funds. Puerto Rico. “It’s going to be a big The Bairoa Bridge in Caguas Washington-based consultan- challenge if anything happens.”is both a professional and per- cy Fuentes Strategies L.L.C. in Mr. Herrera has estimatedsonal priority for Mr. Herrera, early April. about $62 million in damages The commonwealth’s powergiven that the original structure to 92 buildings and other struc- system plunged into darknessdestroyed by the storm was a While FEMA’s eastern federal tures in Caguas, which has so far when Maria struck, with themajor conduit for traffic in the lands highway division has done received only about $1 million to southern part of the islandarea and he lives just a few an “excellent job” on the Bai- date from Integrand. where its two key generatingblocks from where the bridge is roa Bridge project, rebuilding facilities are located sufferingbeing rebuilt. money has generally been slow “The insurance company has a direct hit, resulting in power to arrive, he said. not done their job,” he said. outages to about 70% of PREPA’s But the challenges he faces “They don’t want to sit and dis- roughly 1.5 million customersin rebuilding fallen parts of Between $40 billion to $50 bil- cuss the estimate with us.” at its height. While power wasCaguas, located due south of San lion will be funded for disaster restored to most customersJuan, are indicative of the strug- relief efforts in Puerto Rico, “The problems that I’m having, within weeks, thousands remaingles across the island of Puerto according to a FEMA spokesper- all the municipalities are having without power in some areas.Rico since it was devastated by son. More than $10 billion has them,” Mr. Herrera added.Maria in September — and in been funded to Puerto Rico for “That’s a very big setback if weother parts of the United States the disaster recovery efforts for Meanwhile, the 2018 hurricane had another situation like Mariastill trying to recover from the hurricanes Irma and Maria since season is fast approaching, and or even a small storm,” he said.catastrophes of 2017 and rebuild the disaster declaration was that terrifies Gary Soto, oper- “We’ve had storms that havein a resilient and sustainable signed for Irma on Sept. 10, but ations manager for the Puertomanner ahead of the next natu- there are no specific deadlines Rico Electric Power Authority. See PUERTO RICO page 13ral disasters. “For the next season, I’m very Caguas’ rebuilding efforts are scared,” he said during a tour of ahampered by the need to interactwith two key entities: the FederalEmergency Management Agen-cy and Integrand Assurance Co.,the local insurer that providesthe city’s insurance coverage,Mr. Herrera said during an “The insurance company has not done their job. They don’t want to sit and discuss the estimate with us.” Luis Herrera, Caguas, Puerto Rico4 RIMS 2018 BUSINESS INSURANCE

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San Antonio | April 15-18 CONFERENCE COVERAGE | MONDAY,APRIL16 Stephanie Malish NUSTAR ENERGY Stephanie Malish is director of risk management at NuStar Energy L.P. in Helotes, Texas, and president of the South Texas chapter of the Risk & Insurance Management Society Inc., which is the host chapter of the 2018 RIMS conference and exhibition. She recently spoke with Business Insurance Reporter Rob Lenihan about her expectations for the conference and issues affecting risk managers in Texas. Edited excerpts follow. “To me, the greatest Q What was your reaction Q What are you most Q What are some of theadvantage of the conference when you heard that RIMS concerned about in things that come to mind was coming to San Antonio? hosting the conference? when you say cyber? is that it provides access to the insurance industry, A I was very excited. San Anto- A The weather. It’s the one A Number one, it’s determin- nio is a great convention city thing we can’t control. While ing what your exposure is. whether it’s insurers, that the majority of the attend- San Antonio is always very We’re risk managers, we’re brokers, vendors, peers. ees probably have never visit- thankful for any rain that we not IT people, so partnering So the conference allows ed. So this will be a great oppor- can get, I’m crossing my fingers with the IT folks to sit down tunity to show off our city. that we’ll just experience the and figure out what are the us to discuss these typical near-perfect weather exposures and then figuring topics with an array of Q And what does it mean and no rain. out what are the solutions. Are different perspectives.” for the local chapter they realistic? Do they really when the annual conference Q What are the risk cover what the exposures are? comes to your area? management issues that Just getting your arms around you deal with? that, because it’s not very new A It does mean a little more but many companies still don’t work and attendance at A The past year, we’ve expe- have risk or cyber policies. RIMS functions than in the rienced record-breaking past, when we’re just a guest. catastrophic events. The Q How will the RIMS It’s also an opportunity for our majority of risk managers are conference help you chapter to gain national expo- having to deal with the effects in addressing the risk sure and interact with the key of those catastrophes on their management issues that leaders within the RIMS organi- insurance programs. The we’re discussing here? zation whom we don’t typically other elephant in the room is get to see. cyber. It receives more and A To me, the greatest advan- more attention each year from tage of the conference is Q What are your goals our executives, and it filters that it provides access to the for the conference? down to risk managers to insurance industry, whether analyze that risk and possible it’s insurers, brokers, vendors, A I would like to get as many solutions to respond back to peers. So the conference allows of our local chapter members those executives. us to discuss these topics involved with the conference as with an array of different possible, because many of them perspectives to gain some don’t get to attend when it’s additional knowledge that not in San Antonio. I think it’s you don’t typically get. And important for them to get the of course, there’s multiple full RIMS conference experi- educational opportunities ence to solidify their local RIMS throughout the conference to memberships, so they know learn more about these risks. what the value really is. As a One thing I think RIMS does a chapter, we hope to show our great job of is selecting educa- Texas hospitality and ensure tional topics that are relevant everyone has a great RIMS and fresh that matter to risk experience. managers.6 RIMS 2018 BUSINESS INSURANCE

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San Antonio | April 15-18 CONFERENCE COVERAGE | MONDAY,APRIL16Community project aids service members, veteransBY ROB LENIHAN The Risk & Insurance Man- working with the RIMS staff.” participate in the projects really PHOTOS PROVIDED BY SOLDIERS’ ANGELSagement Society Inc. will give Conference attendees can drop enjoy it. They would go to theirrisk professionals attending the sessions and then come back on astated by the natural disaster.RIMS 2018 conference and exhi- in to help with activities such as break. They were super-excited Now, in its 12th year, RIMS Com-bition in San Antonio, Texas, an crafting no-sew blankets, assem- about it.” munity Service Day projects haveopportunity to support Soldiers’ bling care packages and prepar- become a RIMS Annual Confer-Angels, a local charity that helps ing meals. The project includes a ESIS President Joe Vasquez ence & Exhibition tradition.members of the U.S. armed forc- letter writing campaign for mili- said in a statement that “Soldier’ses, through the 12th annual Com- tary personnel overseas, those in Angels is such an important Service Day activities include:munity Service Project. medical facilities, their families organization, and we are honored n No-sew blankets on Monday, and homeless veterans. to partner with RIMS in support- Tuesday and Wednesday: Stop The project will be held each ing their efforts to provide for the by the Soldiers’ Angels center today of the conference in the main The project is sponsored by men, women, as well as their fam- help craft blankets for militarylobby of the Henry B. Gonzalez ESIS Inc., a Chubb Ltd. unit. ilies who have made tremendous personnel overseas and in med-Convention Center. sacrifices for our freedom.” ical facilities. “Each of the days of the confer- n Letter-writing campaign on Soldiers’ Angels, founded in ence we’re going to do different “The strength of a community Monday, Tuesday and Wednes-2003 by the mother of two Amer- projects,” Ms. Palmer said. “The is defined by our willingness to day: Share good wishes with mil-ican soldiers, provides aid and volunteers, as they come to the share, empathize and support itary personnel overseas, thosecomfort to the men and women conference, will be able to stop each other,” RIMS CEO Mary in medical facilities and theirof the U.S. Army, Marines, Navy, at our booth. The people who Roth said in a statement. “It is families.Air Force and Coast Guard, along without question that the men and n Care packages on Monday:with their families and a growing women who serve in our armed Help pack care packages filledveteran population. forces are an important part of with ready-to-eat food, activities, our communities. We honor their games and other items to be sent Since its inception, the charity service and proudly welcome the to military personnel overseas.has provided over $100 million in opportunity to give back through n Box lunches on Tuesday:support. Soldiers’ Angels deliv- this Community Service Project Fill boxed lunches with a varietyers over 150,000 volunteer hours to Soldiers’ Angels.” of nonperishable foods to feedto this in-need community each homeless veterans and militaryyear. RIMS said it was one of the first personnel in medical facilities. entities in 2007 to host a large n Hygiene kits on Wednes- Amy Palmer, president and convention in post-Katrina New day: Help assemble kits filledCEO of Soldiers’ Angels, said the Orleans. RIMS’ first Community with travel-sized toiletries to beorganization is honored to part- Service Day was held at that con- delivered to military personnelner with RIMS for the community ference to support local families in medical facilities and homelessservice project. and rebuild infrastructure dev- veterans. “We’ve worked with RIMS previ-ously,” said Ms. Palmer, a disabledAir Force veteran. “It’s a greatrelationship; we’ve really enjoyed10 RIMS 2018 BUSINESS INSURANCE

CONFERENCE COVERAGE | MONDAY,APRIL16 San Antonio | April 15-18HEARD ON THESTREET What’s your top DAWN WATKINS MOIRA MOONEY STEVEN CATALDOrisk management Director of integrated disability Vice president for risk and insurance Senior managing director of risk concern this management The Nielson Co. (US) L.L.C. Greystar Real Estate Partners L.L.C. year? Los Angeles Unified School District Wilton, Connecticut Irving, Texas Los Angeles “Cyber. The overall privacy “The impact on claims from “How to reduce the costs and and security issues because 2017 and how they affect severity of claims while advocating it is always evolving.” 2018 insurance rates.” for the injured worker.”ROUNDTABLES / RESEARCH / NEWSLETTER / WEBINARS / WHITE PAPERS / ANNUAL MEETING DIVERSITY + INCLUSION INSTITUTEThe Business Insurance Diversity & Inclusion Institute is dedicated to promoting and advancingdiversity and inclusion in every facet of the commercial insurance industry. Working in concertwith member companies, the Institute provides a forum for insurance executives and focuses oninitiatives that develop and further diversity and inclusion in the insurance industry. LEARN MORE AND JOIN OUR MISSION www.DiveristyInclusionInstitute.com CHANGE BROUGHT TO YOU BY: MEMBERS ADVOCATES Automotive Group BUSINESS INSURANCE RIMS 2018 11

San Antonio | April 15-18 CONFERENCE COVERAGE | MONDAY,APRIL16 PREVIEW the Year and Risk Management president and chief risk officer of time host of NBC’s “The Tonight Honor Roll awards will also be the Children’s National Medical Show,” performing a set entitled Continued from page 1 presented on Tuesday morning. Center in Washington. Laugh Until You Cry, on Wednes- This year’s RIMS Risk Manager day afternoon.day, claims management issues of the Year is Rebecca Cady, vice The conference finale will fea-such as catastrophic business ture comedian Jay Leno, long- The RIMS-Sedgwick Officialinterruption losses on Tuesday, Closing Party will occur onand cyber risks such as smart Wednesday evening at the Tobinbuildings and social media in the Center for the Performing Arts.workplace on Wednesday. Anyone wanting a break from The fourth annual Spencer 5K the conference can visit theFun Run presented by Sedgwick famed Alamo, where over aClaims Management Services 13-day period in February andInc. will take place on Tuesday March 1836, a group of 200 Texasmorning along the famous San volunteer soldiers defended theAntonio River Walk to raise fort against a siege by a forcemoney for the Spencer Educa- commanded by Mexican Presi-tional Foundation, with a goal of dent and General Antonio Lópezraising $100,000 this year. de Santa Anna in the fight for independence from Mexico. The The RIMS Risk Manager of 15-mile River Walk is also a top San Antonio attraction. DIVERSITY together, taking the next step to “You can have a diverse group ue to have to ensure women are make risk management effective of people in the room, but if that fairly represented in top manage- Continued from page 1 and relevant in the 21st century.” diverse group of people doesn’t ment. It cited a 2017 McKinsey & feel like they have a safe place to Co. report called Reinventingat the RIMS annual conference in RIMS has put together a diver- actually express a diverse opin- the Workplace to Unlock theSan Antonio on Sunday. sity and inclusion task force, ion, you’ve lost, everybody’s lost Potential of Gender Diversity led by Jennifer Santiago, RIMS — not just the person, but the that found only 17% of executive “My belief is that we’re in the board member and director of company,” she said. committee members in Western21st century, and 21st-century risk management for Novartis Europe are women and womenrisk management has to be totally Pharmaceutical Corp. in East “When I think about what will account for only 32% of corporatedifferent than what we’ve known Hanover, New Jersey. make us successful, I completely boards. In the United States, thein the 20th century,” he said. “It’s believe in my heart that we’ve got figures are 17% for executive com-not just about people who buy “My passion is about diversity,” to get different people at the table mittees and just under 19% forinsurance. It’s people who use it. Mr. Cartwright said. “Let’s use to solve unique problems, and boards. The study also found thatThe end user. The folks who are this opportunity to really get this we’ve got to listen to every single there could be a 3.5% increasemaking the change and looking at thing moving forward.” voice,” Ms. Cole continued. “And in gross domestic product, withinnovation, this generation (and) that’s why I think this is such an every 10% increase in genderthe next generation that under- Liz Cole, chief human resourc- important conversation that we diversity within senior executivestands and embraces technolo- es officer for Marsh L.L.C. in New need to be having. I’ve been in teams leading to a potential glob-gy — we have to put those two York, discussed the importance human resources for a long time, al GDP increase of $28 trillion. of having not just a diverse work- and I’m disappointed in us. I think force, but an inclusive environ- that we should have made more Other groups focused on LGBT ment. progress. I’m a little bit tired of diversity issues, emphasizing the talking about it. I really want importance of not just havingLiz Cole of Marsh L.L.C. discusses diversity concerns. more action.” diversity conversations occur once a year and having those con- Attendees of the meetup broke versations led by members of the into small groups to discuss a LGBT community. variety of diversity and inclusion topics, including how a lack of “It has to be part of the fabric,” diversity could result in negative said Christine Shimasaki, moder- impacts such as the loss of valu- ator and president of 2Synergize able insights and perspectives Inc., a San Diego-based consul- and the loss of talent, while a tancy working with convention diverse workforce has economic and visitor bureaus on sales and and other benefits. marketing solutions. “It has to be part of the culture. It can’t just be For example, one group dis- an initiative that you break out cussed a case study focused on once a year.” the struggles companies contin-12 RIMS 2018 BUSINESS INSURANCE

CONFERENCE COVERAGE | MONDAY,APRIL16 San Antonio | April 15-18PUERTO RICO Continued from page 4not entered the island and have Gary Soto, operations manager for the Puerto Rico Electric Power Authority, bottom right, conducts a tour atcaused blackouts.” a power plant in Monacillo. He has concerns about preparations for the upcoming hurricane season while still recovering from 2017’s Irma and Maria. The ongoing challenges torebuild in Puerto Rico are indic- severe weather,” Mr. Horgan Thomas Lewis, adviser to the attracting investors, accordingative of what the rest of the said, citing not just the 2017 hur- Zofnass Program for Sustain- to a deep dive into a World BankUnited States will continue to ricanes, but winter storms in able Infrastructure at Harvard report on the ease of doing busi-contend with: an aging infra- the Northeast and droughts and University and president of Mor- ness in 190 jurisdictions aroundstructure that will repeatedly be wildfires in other parts of the ristown, New Jersey-based engi- the world. The commonwealthchallenged by more frequent and country, which he said under- neering and consulting services scored 64th overall, but muchintense natural catastrophes, score the need for resiliency. company Louis Berger. lower on key metrics such asexperts say. dealing with construction proj- “Talking sustainability often “Even if Maria never happens ects, protecting minority inves- “Puerto Rico’s infrastructure is sounds expensive to people, but again in Puerto Rico, if you build tors and enforcing contracts.an example of what’s happening the reality is it’s not,” Mr. Hor- back to a sustainable level, aacross the entire United States, gan said. “The additional costs more resilient level, it will pay Institutional investors mightwhere there’s been a history on the front end are usually min- for itself in lower operations and prefer double-digit rates ofof a lack of investment in our imal to build something back or maintenance costs through its return, which are harder to getinfrastructure and having a lot build something in a sustainable life cycle,” Mr. Lewis said. “But in some aspects of infrastruc-of infrastructure becoming out- way. Rebuilding to a resilient it takes a longer view. It takes ture, but green bond and socialdated and coming to the end of standard doesn’t automatically that discipline.” impact investors are willing toits useful life,” said Paul Horgan, translate into substantially high- accept a low rate of return, Mr.head of North America commer- er costs. It really translates into Investors want two key things Lewis said.cial insurance for Zurich North thoughtful rebuilding (and) pre- when considering potentialAmerica in New York. planning.” opportunities: simplicity of “These other (infrastructure) doing business and certainty areas that have historically not In 2017, the American Society The impact of climate change of returns, said Robert Murray, seen as much private investmentof Civil Engineers assigned a should be one of the factors Zurich’s global head of surety, interest … need to be part of theD-plus grade to the U.S. infra- taken into consideration when based in Owings Mills, Maryland. toolbox, especially in a place likestructure and estimated it rebuilding infrastructure, said Puerto Rico,” he said.would cost about $4.59 trillion Puerto Rico faces challenges into improve the country’s infra-structure. “Talking sustainability often sounds expensive to people, but the reality is it’s not. The additional costs on the front end are usually minimal.” Paul Horgan, Zurich North America The insurer released a paperin April called Rebuilding Infra-structure: The Need for Sustain-able and Resilient Solutions,which emphasizes the impor-tance of sustainable planningand resilient building as theseverity and frequency of severeweather events increase. “There is no part of the Unit-ed States that is not exposed to BUSINESS INSURANCE RIMS 2018 13

San Antonio | April 15-18 CONFERENCE COVERAGE | MONDAY,APRIL16 AROUND THE HALL CEO Adam Potter RIMS COVERAGE ONLINE PUBLISHER Business Insurance is delivering online Peter Oxner daily news reports from the Risk & Insurance Management Society Inc. (Chicago) annual conference in San Antonio. [email protected] www.businessinsurance.com EDITOR14 RIMS 2018 BUSINESS INSURANCE Gavin Souter (Chicago) [email protected] DEPUTY EDITOR Gloria Gonzalez (Washington) [email protected] SENIOR REPORTER Judy Greenwald (San Jose) [email protected] REPORTER Louise Esola (New Orleans) [email protected] REPORTER Rob Lenihan (New York) [email protected] REPORTER Matthew Lerner (New York) [email protected] COPY CHIEF Katherine Downing (Chicago) [email protected] COPY EDITOR Brian Gaynor (Portland) [email protected] ART DIRECTOR Jeremy Werling (Cincinnati) [email protected] DIRECTOR OF RESEARCH, PLANNING AND INSIGHTS Andy Toh (Chicago) [email protected] MAJOR ACCOUNTS DIRECTOR - MIDWEST & WESTERN U.S. Keith Kenner (Chicago) [email protected] MAJOR ACCOUNTS DIRECTOR - NORTHEASTERN U.S. & INTERNATIONAL Ron Kolgraf (Boston) [email protected] HEAD OF SALES - EVENTS & WORKERS COMPENSATION MAGAZINE Jeremy Campbell (Cincinnati) [email protected] DIGITAL OPERATIONS MANAGER Kate Lichnerska (Chicago) [email protected] MARKETING MANAGER Katie Kett (Portland) [email protected] REPRINT SALES MANAGER Lauren Melesio (New York) [email protected] SUBSCRIPTIONS & SINGLE COPY SALES [email protected] 954-449-0736 Copyright © 2018 by Business Insurance Holdings, 4100 S. Hospital Drive, Suite 209, Plantation, FL 33317. PHOTOS BY MICHAEL MARCOTTE

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