And today we share the last part of our interview with Shalom Suniula, former professional athlete and now VP Property & Casualty at USI Insurance Services.
Q: How does USI support what you do in the sports industry?
A: There's a whole risk management department at USI, which thinks about things like abuse, concussion, assault & battery, vendor contracts, and other sports related risks.
And then there are emerging risks such as transgender and mental health to name a few. It’s about understanding where they are today from a claim’s perspective and working proactively with our clients to support their risk management frameworks to minimize future claims if any.
We also have a risk management center which can help bridge any technology efficiency gaps, like to support training for coaches, staff, and employees. How often do they have to complete? How do you track that? What is automation like? Underwriters’ biggest concern is oversight, especially for large national organizations this can be very critical.
We also have a dedicated claims department, who are former attorneys and/or adjusters. They are experts at managing each of those claims to either have lower reserves or actively making progress to settle. The impact on renewal year over year can be significant if not managed.
Q: How does USI intersect with professional teams and leagues?
A: On the professional side, worker's comp can be a potentially challenging area if not managed correctly, especially when teams/leagues are in the early start-up phase. Everything from coverage placement (depending on the sport), navigating statutory requirements for every state, compliance, education, training, medical provider relationships and more. We have dedicated team that works to support these areas.
Q: What are some of the trends in risk management that you are tracking?
A: Concussion management. What does the training look like? Everyone has a baseline test, right? What is your customized return to play protocol? In the event that something happens, how is that managed, documented, and streamlined? Who are the vendors out there and what kind of technology do they possess?
Then there are things like transgender, contract or agreement risk transfer strategies, and equipment/facility safety.
The scariest part of it all is the unknown. And so how do we make this known? Tough spot to be in not knowing it. Better to say, “Here's what we do know today and here are the steps we can put in place for now as things unfold, and then adapt and evolve.”
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