Risk and Solvency – Internal Tools for an Insurance Company

This podcast will discuss insurance company requirements in conducting internal risk management reviews and systems for measuring, monitoring and mitigating that risk. This process is called an Own Risk and Solvency Assessment (ORSA); it assesses the adequacy of a company’s risk management and the current and prospective solvency positions under normal and severe stress scenarios. Utilizing ORSA, an insurer will analyze reasonably, foreseeable and relevant material risks (i.e., underwriting, credit, market, operational, liquidity risks, etc.) that could impact its ability to meet its obligations, and then will report those findings to regulators.

Featuring: Robert Marshall, Vice-President & Chief Risk Officer, Chesapeake Employers’ Insurance Company

Hosted by: Dan Cotter, Attorney, Howard & Howard Attorneys PLLC

Robert Marshall was appointed Vice President and Chief Risk Officer in September 2011 after holding several different positions within Chesapeake Employers’ Insurance Company since 1993.  His responsibilities include leading the Enterprise Risk Management initiatives around identifying, quantifying, and correlating major risks affecting the company, and utilizing them as catalysts for ongoing strategic planning.  A summa cum laude graduate of the Pennsylvania State University, Mr. Marshall has also completed several graduate courses in information systems and business.  Throughout his career he has spoken on numerous topics at several national and regional insurance and technology conferences.

Daniel A. Cotter is Attorney and Counselor at Howard & Howard Attorneys PLLC. Dan focuses his practices in a variety of areas of corporate law and litigation, primarily on insurance law, including complex business disputes and counseling, employment law, corporate transactions, corporate governance and compliance, and cybersecurity and privacy law. His clients benefit from his diverse professional experience, which – in addition to his years serving as trusted outside counsel – includes positions as a corporate accountant and an in-house attorney. He spent almost 17 years in-house at insurance organizations, where he focused on insurance, regulatory, technology, IT, compliance and transactional matters. Dan served as President of The Chicago Bar Association for the 2014-2015 bar year and is former Chair of The Young Lawyers Section of The CBA.

Dan was an adjunct professor at The John Marshall Law School, and has taught Insurance Law, Accounting for Lawyers and SCOTUS Judicial Biography. Dan graduated summa cum laude from The John Marshall Law School and received his B.A. in Accounting from Monmouth College, magna cum laude. Dan is a frequent writer and presenter on various substantive topics, including technology and privacy, and in 2019, his book, “The Chief Justices,” was published.