Insurance experts unite to launch Inherent Risks

Insurance experts unite to launch Inherent Risks | Insurance Business Canada

Insurance experts unite to launch Inherent Risks

Several seasoned insurance industry professionals have teamed up to launch a global risk advisory firm, specializing in medical assistance and crisis response.

Inherent Risks, LLC “aims to meet the demand for reliable service, rapid problem resolution, and improved outcomes for its clients,” the group said in a statement.

The firm’s executive board and leadership team consist of well-respected industry experts with decades of experience, including:

  • Dawn Page, director at the Hong Kong Tourism Board
  • Daryl Trawick, president of Trawick International
  • Dan Tuman, former president of Clements Worldwide
  • Mark Butler, former chief executive officer at Europ Assistance
  • Dan Kaine, former head of global assistance at Traveller Assist

These professionals will focus on practices and regions where they have a competitive advantage, the group said, with further key hires to be announced in the future.

“This launch announcement is a culmination of 12-months of hard work, behind the scenes, listening to the market, refining our products, and ensuring the right people, processes and technologies are in place to provide outstanding and cost-effective services that our clients actually want and need,” said Dan Kaine, who heads the firm’s risk and crisis advisory group.

The group also revealed that Inherent Risks has been operating in the past 12 months and has already achieved success in resolving complex crisis worldwide, including:

  • Setting up and operating a crisis response centre to locate, coordinate transportation, and identify safe havens for more than 200 expatriates and local staff in Afghanistan in the wake of the Taliban takeover.
  • Developing a COVID-19 compliance program for the recently concluded Olympic Games in Japan.
  • Delivering critical medical supplies to Liberia and the Democratic Republic of Congo during an Ebola outbreak.
  • Resolving kidnap, extortion and threat cases in Haiti, Venezuela, Nigeria, and the Philippines.

“I understand the importance of partnering with a company with excellent networks, particularly in remote and even hostile regions, who can actually do what they say they can do, because lives, and the promise we have made to our travellers, depend on it,” said Mark Butler, head of strategy and development at Inherent Risks. “This opportunity just made sense. It fits seamlessly with our growth strategy and future plans.”

The group is also developing new products for Inherent Risks, including an insurtech solution for the travel industry, international private medical insurance (iPMI), and employee benefits spaces.