About the Speaker John Dohn
John Dohn has over 20 years experience helping manage risks that had previously kept his clients up at night. He has successfully advised hundreds of clients and their companies regarding their insurance and risk management needs.
Watch "Business Risk made Profitable"
on BBSE
Listen to business experts and the blinds spots they see.
Hear the blind spots and understand how, through data and analytics, you can eliminate those blind spots.
Podcast Bullet points
- Concept of Business Blind Spots: The podcast starts by discussing the idea that business owners often have "blind spots" that they are unaware of, which could be limiting their success. These blind spots relate to various risks in the business, and understanding them is crucial for growth.
- Role of Captive Insurance: The podcast introduces the concept of Captive Insurance as a strategic way for business owners to manage risks. A captive insurance company is owned by the business itself and can be tailored to its unique risks, providing a customized approach to insurance coverage.
- Comparison with Traditional Insurance: The hosts argue that traditional insurance policies are often one-size-fits-all and may not cover all the specific risks a business might face. They liken captive insurance to a tailor-made suit, emphasizing its adaptability and specific fit for each organization.
- Risk Management and Internal Processes: Captive insurance not only provides tailored coverage but also rewards businesses for effective risk management. Companies that have streamlined internal processes and manage risks well can benefit significantly from captives.
- Regulatory Landscape and Getting Started: The United States has 36 states with captive laws, making it easier for businesses to start their own captives domestically rather than going offshore. The initial capital contribution can vary, and it's important to work with an experienced captive manager.