Insurance policies help manage the costs of damage. This can be from severe weather events, wildfires, earthquakes, lightning strikes, and so many other perils. Still, there are situations where insurance may not cover a loss or only part of it. Consider:

• Deductibles: A portion of the loss is paid by the policyholder.
• Underinsured losses: Losses where there is insufficient coverage.
• Uninsurable and/or unidentifiable risks: Think about COVID-19.

The impacts of COVID-19, a peril not covered under many policies, was particularly impactful on businesses. Damages included loss of business income, potential worker compensation issues, extra costs for safety measures, and ongoing expenses with no corresponding benefits (such as rental costs for unused office space).

By adopting a proactive and comprehensive approach to risk management, businesses can better navigate uncertainties and business risks. Van Carlson has built a company around helping businesses survive after disasters and thrive in some of the most challenging insurance markets seen in many years.

Van is the founder and manager of SRA Admin, a company that focuses on risk assessment for businesses and utilizes Section 831(b) of the Internal Revenue Code to help businesses plan for the unexpected. An 831(b) plan can provide businesses with a financial buffer for many situations – think of kind of like a 401k plan where it’s okay to take some money out for emergencies, before you retire.

So, come and explore some of the challenges business face in managing risks and some of the creative solution available.

SRA 831(b) Micro Captives for Business Owners - SRA 831(b) ADMIN

Van Carlson Biography

Weather Heroes explores the world of planning for and responding to disasters. We visit with key weather players from a wide range of backgrounds and today, we have the pleasure of meeting Raya Maday, a dedicated meteorologist and a key figure in organizing emergency responses to natural disasters.

Growing up in Florida, Raya’s fascination with weather and disasters began in 2004 when Hurricane Charley swept over her home. This event ignited a lifelong passion that has taken her on an incredible journey across various regions and weather phenomena.

Throughout her career, Raya has worked as a meteorologist in multiple locations. Quickly realizing the critical importance of effectively communicating the potential impacts of weather forecasts she developed innovative communication protocols and guidelines that have significantly improved how meteorologists share their forecasts with the public.

Recently, Raya played a crucial role in assisting with the aftermath of Hurricane Helene, which devastated western North Carolina and parts of eastern Tennessee. Her efforts in helping coordinate response strategies made a substantial difference in these affected communities.

Raya Maday is a shining example of the new generation of Weather Heroes, paving the way for future meteorologists and emergency responders. Her dedication and expertise continue to inspire and lead the way.

Every day, businesses and organizations face the potential for reputational damage. Severe weather events and other catastrophes can create a sudden onslaught of challenges that can significantly increase the likelihood of something going wrong. In addition to a disaster plan, potential threats to a business’s reputation and brand should be included in their business continuity plan. After a catastrophe, the potential pitfalls from unexpected events are greatly magnified.

With these challenges in mind, we speak with Stephanie Craig, President of Kith, an elite crisis management firm that works closely with business partners to ensure they are ready to respond to reputation and brand challenges. Kith’s approach is very similar to that of disaster planning and response organizations everywhere—it all begins with a plan.

Join me as Stephanie shares her own disaster experiences and how they prepared her for her current role. Listen as she outlines both the macro and micro aspects of preparing for a reputational crisis, likening it to preparing for a natural disaster. She does an excellent job of detailing the challenges and responses. I think you’ll learn something. I certainly did. Give it a listen!

Kith Website

Stephanie Craig’s Biography