Marty Rhodes, President and CEO of Stephens Insurance, continues the conversation with Frank Thomas in this episode of Stephens Viewpoints. Frank and Marty discuss insurance capacity, loss control, risk management, and how Stephens builds its teams of loss control engineers, and the loss control services they provide.
Listen in to hear more.
[:34] Marty talks about insurance capacity, in relation to recent storms. Even a Katrina-sized event would not ‘move the needle,’ in the property marketplace today.
[2:13] Marty contrasts individual loss catastrophes against large area catastrophes. While Katrina certainly qualified as a large catastrophe, the current policyholder surplus is more than ample for anything less than multiple major events throughout the year.
[3:58] Stephens brokers communicate frequently with clients, giving recommendations for preventive measures, loss control, and response action items for catastrophes.
[4:51] Stephens loss control engineers help educate clients on construction codes for Tier 1 coastal areas subject to hurricanes.
[5:31] Loss control engineers educate workplace clients. Middle market and smaller business use this service. Stephens loss control engineers are qualified to give mock OSHA inspections, so clients can correct deficiencies, and work to prevent incidents.
[7:41] Marty talks about how much time loss control engineers spent in visiting and educating the first client of the Risk Management Unit in 2009. Loss control is essential.
[9:15] Depending on the complexity of the account, Stephens loss control engineers schedule visits to the various sites, and also communicate with clients, between visits.
[10:26] Loss control engineers understand OSHA regulations, and the issues of the client sector they serve. Stephens loss control engineers are highly experienced.
[11:06] Stephens Insurance is relationship-driven. Stephens builds teams of experts in the sectors they cover. Last year transportation was their fastest-growing client sector; oil and gas, and public utilities are major sectors, and hospitality is quickly growing. They have teams of risk management experts in each of these sectors.
[13:18] In our next episode, we’ll be discussing notable upcoming changes in the insurance industry businesses should watch for.
[13:27] For more information, please contact Stephens Insurance at (501) 377-2000.
Mentioned in This Episode:
Insurance products offered through Stephens Insurance, LLC., National Producer Number 8844362. Securities offered through Stephens, Inc., Member NYSE, SIPC.
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