Self-Insurance Podcast with Kaya Stanley
Gain practical insights for safeguarding your restaurant's financial health and profitability on the Self Insurance Podcast. Hosted by Kaya Stanley, seasoned attorney and CEO of CRMBC, this series features insightful discussions with industry leaders and experienced operators.
Learn how to navigate work comp challenges, optimize insurance strategies, and implement best practices from top performers and advisors in the restaurant industry.
Success leaves clues, and this podcast is designed to uncover them for you.
Self-Insurance Podcast with Kaya Stanley
Handling a Hardening Market: Insights from Mike McDonough
In this episode of the Self-Insurance Podcast, hosted by CRMBC, we tackle the intricacies of workers' comp self-insurance with Mike McDonough, the broker principal of McDonough Insurance Services.
Drawing from his 30 years of experience, Mike offers a deep dive into the advantages of self-insurance over traditional insurance carriers. Key topics include the concept of a hardening market, criteria for joining a self-insured group, the importance of managing claims, and how self-insurance provides more control and financial benefits for employers.
Get valuable tips on how restaurant owners can protect themselves in a hardening market and much more. Don't miss Mike's expert insights and practical advice!
00:00 Introduction to Self-Insurance Podcast
00:33 Meet Mike McDonough, Industry Expert
03:04 Understanding the Hardening Market
05:31 Differences Between Self-Insurance and Traditional Carriers
08:44 Criteria for Joining a Self-Insured Group
12:44 Benefits of Self-Insurance for Restaurant Owners
14:16 Closing Advice for Navigating a Hardening Market
17:15 Final Thoughts and Farewell
Please visit CRMBC for our latest news.
Follow us on LinkedIn for content highlights.
See the latest videos on YouTube to see us in action.
And connect with CEO Kaya Stanley on LinkedIn.