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RIMS International Council Presents: Risk Management In Response To COVID-19 From Three Institutional Perspectives

Description

In this one-hour roundtable discussion, three members of the RIMS International Council will discuss their own experiences in response to COVID-19, from risk professionals’ perspectives, belonging to three distinct industrial sectors, separately from a multi-national manufacturing company, a university and a health insurer. The panelists will analyze the five (5) aspects of risk management and response, including people and community support, crisis management, enterprise risk management (ERM) and business continuity planning (BCP), insurance programs, and future risk and insurance strategies. These varied perspectives will inform and enlighten attendees on the methods used and decisions taken by global risk leaders.

Discussion Topics:

1. People and Community Support – Your people and their families are always the top priority. How do we manage this and support the communities?
2. Crisis Management – Virtual meetings, online educational programs, and shelter-in-place. What guidelines could we provide? How does new technology help crisis management? How do we manage global loss control for industries in alternative approaches? How do we maintain customer service?
3. ERM and BCP – ERM strategy from various aspects, including global supply chain strategy, and BCP documents related to pandemic, etc.
4. Insurance programs - Various insurance programs might be triggered. How will insurance transfer and claims management alter?
5. Future Risk and Insurance Strategy – How will risk strategies change? For example, enhancement of existing captives for coverage response and better benefits, business opportunities, use of statistical projections, etc.

Contributors

  • Deyna Feng

    Captive Program Director 
    Cummins Risk Insurance
    Mrs. Dan (Deyna) Feng is Director, Captive Programs with Cummins Inc., a global power leader, for over 5 years. Mrs. Feng is managing captives (both onshore and offshore), to insure or reinsure both property and casualty lines and all international employee benefits (IEB) of over 60 countries in the captives. Mrs. Feng also leads Cummins global risk mitigation, including global loss engineering, Business Continuity Planning (BCP) and supply chain resilience projects. Prior to this role, Mrs. Deyna Feng was Regional Risk Manager for Cummins Asia Pacific, based in China for 4.5 years. Before joining Cummins, Mrs. Feng was one of the lead loss adjusters with Crawford China for 4 years. Mrs. Feng is on the Board of Director of CICA (Captive Insurance Companies Association) and is chairing the RIMS International Council.

  • Luz Angela Fethers, MBA, RIMS-CRMP, ARM, PMP

    Mrs. Luz Angela Fethers is Enterprise Risk Management Principal in Blue Cross Blue Shield of Minnesota and has been responsible for Risk Management and Insurance programs in the USA, Canada, and Latin America. In her 25 plus years of experience in global organizations including Cargill, Wells Fargo, Target, and AIG, and other companies from the oil and gas and pharmaceutical industries, Mrs. Fethers has been involved in the risk management of large events, including the 2004 and 2005 hurricanes, the 2008 financial crisis, and the COVID-19 pandemic.

  • Dr. Puneet Prakash

    Dr. Puneet Prakash is an Associate Professor in the Department of Finance and General Business at Missouri State University. Dr. Prakash also holds the Baker Chair of Risk Management and Insurance there. Dr. Prakash has MS and MBA (International Business) degrees from India, where he worked with Indian Airlines Limited in a supply chain manager role before moving to the U.S. for his PhD in Risk Management and Insurance (RMI) from Georgia State University, Atlanta.

May 26, 2020
Tue 11:00 AM EDT

Duration 1H 0M

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