RiskCellar

RiskCellar
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Join Brandon Schuh and Nick Hartmann on RiskCellar where they uncork the latest insurance headlines with a dash of sophistication and a sip of wine. From industry trends to policy updates, we blend insurance insights seamlessly with the nuanced flavors of different wines. Tune in for a captivating podcast that elevates your insurance knowledge while indulging your palate in the world of fine wines. Get ready to unwind, sip, and stay informed in a delightful fusion of insurance and oenophilic exploration.

  1. JAN 8

    Howden’s Holiday Hijinks and a Jury Consultant Walk Into a Bar

    This episode of RiskCellar features a deep dive into the psychology behind jury decisions, covering why verdicts have surged 116% in just one year, alongside a breakdown of the shocking 200-person overnight raid by Howden on Brown & Brown's Minneapolis operations. Host Brandon Schuh and co-host Nick Hartmann examine the litigation chaos while interviewing Christina Marinakis, CEO of Verdict Insight Partners, who reveals how jury composition has fundamentally shifted toward anti-corporate sentiment, particularly among millennial jurors. The conversation exposes the data-driven science of jury selection, the rise of polarized deliberation rooms, and what defense counsel must understand about modern juror psychology in an era where median verdicts have jumped from $21 million to $51 million in just four years. Chapters 00:00 - Introduction 05:00 - The Howden Raid Breakdown: Brown & Brown Story 14:00 - Hayes Companies History & $750M Acquisition Details 15:00 - Jim Hayes' Journey & Relationship with Howden 18:00 - Minneapolis Benefits Exodus & Covenants Discussion 22:00 - Court Victory & Temporary Restraining Order 25:00 - Settlement Values & Account Damages 28:00 - Howden's Strategy Backfire & Client Relationships 35:00 - Guest Introduction: Christina Marinakis 36:00 - Jury Consultant Background & Gene Hackman Comparison 40:00 - Mock Trials vs. Real Trials & Shadow Juries 45:00 - Verdict Inflation Trends: $21M to $51M in Four Years 50:00 - Locus of Control: Core Predictor of Juror Bias 58:00 - Anti-Corporate Millennial Generation & COVID Impact Takeaways 1. Nuclear Verdicts Are Accelerating: 135 nuclear verdicts ($10M+) in 2024 represent a 52% increase over 2023, with the median verdict jumping to $51 million from $21 million in 2020, driven by advertising, social media anchoring, and third-party litigation funding. 2. Locus of Control Is the Strongest Predictor: The most reliable indicator of a plaintiff vs. defense juror is internal vs. external locus of control, whether jurors believe individuals or external factors determine outcomes, more predictive than demographics or experience. 3. Millennials Are the Anti-Corporate Generation: Millennials experiencing economic hardship (home ownership, debt) and exposed to corporate scandals (Enron, Wells Fargo) now dominate juries with significantly higher anti-corporate bias than prior generations. 4. COVID Destroyed Government Credibility Defense: Pre-COVID, "FDA/EPA approved" arguments worked; post-COVID, jurors distrust government agencies and dismiss regulatory compliance as a defense strategy due to shifting messaging around masks, vaccines, and guidance. 5. Jury Polarization Is Creating Contentious Deliberation Rooms: Hung juries increased from 2-3 annually (pre-2022) to 12 in 2022 alone, with escalating incidents of jurors being excused due to verbal conflict, reflecting broader societal polarization bleeding into the jury box. Connect with RiskCellar: Website: https://www.riskcellar.com/ Christina Marinakis CEO, Verdict Insight Partners Email: christina.marinakis@verdictinsight.com Website: verdictinsight.com LinkedIn: https://www.linkedin.com/in/christina-marinakis-18328410 Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/

    1h 2m

  2. 12/22/2025

    Optimized for EBITDA, Not Clients: What Brokerage Consolidation Gets Wrong with Dean Hildebrandt

    Brandon Schuh sits down with Dean Hildebrandt, President and CEO of Assurex Global, to explore how mega-broker consolidation is reshaping the insurance brokerage landscape. As consolidation accelerates in 2025, with mega-brokers absorbing smaller firms through billion-dollar acquisitions, including Willis Towers Watson's $1.3 billion purchase of Newfront and Baldwin Group's $1 billion acquisition of CAC Group, the conversation reveals how private equity is driving transactions that, while profitable for financial sponsors, leave clients, carriers, and employees bearing the costs. Dean brings two decades of expertise from his leadership at Associated Benefits and Risk Consulting and his pivotal role at Ahmann-Martin before joining Assurex. Dean challenges the prevailing narrative around these mega-deals, arguing that the real winners aren't clients or carriers but private equity firms extracting value through EBITDA portfolio plays. Throughout the episode, he details how consolidation is accelerating talent acquisitions and market share gains for independent, regionally-focused brokers like those in the Assurex network, firms that prioritize relationships, client service, and stability over spreadsheet metrics. The discussion also highlights Assurex's structural innovation: the launch of AG London, a first-of-its-kind London wholesale broker owned by 30 Assurex firms that operates under perpetual independence and cannot be acquired or sold. As the industry looks ahead to 2026-2027, Dean and Brandon examine how technology and AI will reshape brokerage operations while emphasizing that true competitive advantage lies in understanding the full value chain. The episode underscores a fundamental tension in modern insurance. Whether consolidation will create better client outcomes or simply enrich financial sponsors while destabilizing the very firms and relationships that hold the industry together. For independent brokers navigating this landscape, the conversation offers both cautionary lessons and a compelling vision of an alternative future. Chapters 02:30 – Wine recommendations and AI tool comparisons 07:00 – Introduction to Dean Hildebrandt and his background 10:00 – Dean's entry into brokerage and early career with Ahmann-Martin 14:00 – Overview of 2025 consolidation trends and mega-broker activity 16:30 – Willis Towers Watson acquires Newfront for $1.3 billion 19:00 – Baldwin Group purchases CAC Group for $1 billion 22:00 – Private equity's role in driving M&A transactions 26:00 – How consolidation impacts clients, carriers, and employees 31:00 – The absence of client perspective in private equity discussions 35:00 – Deal sizing and EBITDA economics in mega-acquisitions 39:00 – Why independent brokers are thriving amid consolidation 42:00 – Introduction to Howden's US market entry strategy 46:00 – Assurex's strategic response: AG London launch and structure 51:00 – Dean's journey to Assurex Global leadership 54:00 – Technology, AI, and automation in brokerage operations 58:00 – How carriers are adapting to industry transformation 61:00 – Conclusion and future outlook for independent brokerage Connect with RiskCellar: Website: https://www.riskcellar.com/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartma nn/ Dean Hildebrandt - President & CEO, Assurex Global Website: https://www.assurexglobal.com/ LinkedIn: https://www.linkedin.com/in/dean-hildebrandt-09810ba About Assurex Global: Founded in 1954, Assurex Global is the world's largest privately held commercial insurance, risk management, and employee benefits brokerage group, combining local expertise with global reach across more than 600 partner office

    55 min

  3. 12/08/2025

    Baldwin Goes Big, Lloyd’s Goes Investigative: The Drama Behind the Headlines

    RiskCellar is back with episode 70, marking a major milestone for hosts Brandon Schuh and Nick Hartmann as they dive into the most pressing insurance broker consolidation trends shaping 2025. The episode kicks off with major industry news on the Baldwin and CAC merger, a billion-dollar deal that reflects ongoing consolidation in the insurance brokerage space. While the acquisition comes in smaller than recent mega-deals, the merger creates what Baldwin calls the largest majority colleague-owned publicly traded insurance broker, signaling continued market consolidation and M&A activity that benefits independent brokers. The hosts explore critical developments in insurance technology and autonomous vehicle safety, including Tesla's recent sensor and camera upgrades designed to improve their self-driving system performance in challenging conditions. The conversation reveals how insurance industry players are monitoring autonomous vehicle advancements, telematics driver monitoring programs, and commercial auto liability trends, including the growing use of cameras and driver scoring to reduce claims. They also discuss the implications of unlimited liability insurance in the UK market and significant pricing differences in Canadian insurance, where casualty risk pricing can be 40% lower than US market rates. A major highlight involves the Rad Power bike battery recall and CPSC safety concerns, where the federal agency issued a unilateral opinion declaring all RAD batteries defective without conducting independent testing. The hosts debate the fairness of this regulatory action, noting that Rad Power faces potential bankruptcy from a million-unit recall despite only 31 documented incidents causing $750,000 in cumulative damage. The episode also covers Lloyd's of London CEO John Neal's resignation following an inappropriate workplace relationship scandal, insurance industry news on Ryan Specialty's new public sector MGU launch, Howden's aggressive hiring expansion, and a playful segment on insurance truths and lies featuring alien abduction coverage. Tesla's autonomous vehicle technology still lacks adequate camera systems compared to competitors like Waymo, delaying full self-driving capability Telematics and driver monitoring are becoming essential risk management tools for commercial auto liability, despite employee privacy concerns CPSC regulatory actions can devastate companies without scientific testing, raising questions about fairness and due process in product safety decisions International insurance markets show dramatic pricing variations, with Canadian and UK markets offering 02:00 Thanksgiving Turkey Cooking Methods & Holiday Stories  03:30 Episode Celebration & Drinking Toast  04:35 Baldwin & CAC Merger: $1B Insurance Broker Consolidation  09:25 Ryan Specialty's Public Sector MGU Launch 10:00 Public Sector Insurance Competition & School Bidding Challenges  11:15 Canadian Insurance Market & International Pricing Differences  14:15 Tesla Autonomous Vehicle Camera Upgrade Challenges  16:00 Chevrolet Diesel Truck & Frank Cruz Shout Out  16:30 Howden Hiring Expansion & Legal Costs Impact  8:50 John Neal Lloyd's CEO Scandal & AIG Withdrawal  21:40 New Zealand Kiwi Cultural Reference & Gender Diversity in Insurance  23:25 Rad Power Battery Recall & CPSC Regulatory Overreach  26:00 Battery Incident Statistics & Scientific Method Concerns  28:15 Dog Interruption & Personal Stories 29:10 Don Julio Tequila & Podcast Memorabilia  31:30 Alien Abduction Coverage Predictions for 2026  32:50 Recall of the Week: Ozark Trail Camping Stove  35:25 Upcoming Guests & Litigation Funding Panel Discussion  Connect with RiskCellar: Website: https://www.riskcellar.com/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/

    39 min

  4. 11/10/2025

    SEO, AI, and the Lawsuit Supply Chain: How Litigation Harvesting Took Over

    Let’s explore insurance litigation’s new terrain. This week, Brandon Schuh leads a sharp conversation with Matt Monson of The Monson Law Firm and Todd Kozikowski, CEO and Co-Founder at 4WARN. Delving into topics like mass torts, nuclear verdicts, and litigation harvesting, the episode unpacks aggressive trends driving major changes in claims and coverage, highlighting how private capital, marketing tech, and regulatory gaps are remaking the insurance landscape. The discussion details how litigation harvesting has become a well-oiled pipeline, fueled by third-party investments and digital lead generation mechanisms. Matt Monson elaborates on law firms' multimillion-dollar deals with hedge funds while Todd Kozikowski exposes 4WARN’s data-driven risk analysis and the ways claims are mass-produced through AI-powered advertising and direct outreach. Social inflation and nuclear verdicts are dissected as top factors raising premiums and challenging the survival of insurance carriers. Monson and Kozikowski call for smarter oversight and risk management, stressing the urgency for insurers to adapt tactics and regulatory bodies to rein in unscrupulous lead generation. The episode also highlights innovations like parametric-triggered cat bonds after disasters, underscoring the growing complexity of risk mitigation facing carriers today as digital and financial disruptions reshape both litigation and underwriting norms. Takeaways: Litigation harvesting is driving record claim volumes across insurance sectors. Third-party funding and hedge funds are key engines of mass torts. Digital ads, AI, and direct messaging redefine claims acquisition. Nuclear verdicts and social inflation sharply raise costs for insurers. Lead generation companies are bypassing traditional legal ads. Parametric cat bonds are key for catastrophic risk transfer. New regulatory oversight is needed to stabilize litigation risk. Data analytics solutions like 4WARN inform risk management for carriers. Chapters: 00:00 Introduction 01:00 Fast publishing & market turbulence update 03:00 Litigation harvesting mechanics: investment & marketing 07:30 Introducing guests: Matt Monson and Todd Kozikowski 09:00 The effect of nuclear verdicts on premiums 13:00 Third-party funding in mass torts 16:30 Catastrophic events and insurance innovations 20:00 Digital targeting and AI-powered claims lead generation 22:30 4WARN’s analytics: Risk assessment for carriers 26:00 Policy, regulation, and future outlook Connect with RiskCellar: Website: https://www.riskcellar.com/ Matt Monson Founder and Manager, The Monson Law Firm Website: monsonfirm.com  LinkedIn: https://www.linkedin.com/in/matthewdmonson/  Todd Kozikowski CEO & Co-Founder, 4WARN Website: 4warn.com   LinkedIn: linkedin.com/in/toddkozikowski  Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/

    1h 12m

  5. 10/31/2025

    The Louvre Heist: A ladder break-in & Scooter Getaway (it wasn't me)

    We deep dive into the latest insights in commercial insurance on RiskCellar, uncovering Q3 2025's leading market developments. We spotlight Chubb's record-setting $2.26 billion underwriting profit and 81% combined ratio, a testament to disciplined underwriting and strategic focus on high-value home insurance, especially in competitive states like Texas. With property insurance rates stabilizing and sector appetites opening, the discussion highlights cautious optimism while navigating the turbulence of today's market. The conversation turns to the evolving landscape of casualty insurance, where nuclear verdicts and third-party litigation financing present unprecedented challenges for carriers. We weigh in on the controversial cyber insurance space, particularly the ethical dilemma of paying ransomware, referencing the massive Land Rover supply chain hack that cost the UK economy $2.5 billion. Concerns over the insurance industry's role in possibly funding fraudulent and criminal activity remind listeners that risk extends far beyond underwriting spreadsheets. Rounding out the episode, we examine industry consolidation, cat bond alternatives to reinsurance, and the push for state cost sharing to fight climate-driven disasters. Upcoming guests, defense attorneys Matthew Monson and Todd Kozakowski, will join future conversations to debate the impact and ethics of third-party litigation financing. Coupled with candid wine reviews and a preview of the London market's expansion, This is a must-listen episode for professionals seeking clarity in a complex commercial insurance world. Takeaway List (6–8): Chubb achieved $2.26B underwriting profit & an 81% combined ratio in Q3 2025.Property insurance rates are stabilizing, with rising appetite in select regions.Nuclear verdicts and litigation financing continue to disrupt casualty markets.Cyber insurance faces scrutiny after the $2.5B Land Rover supply chain hack.Third party litigation financing raises ethical and legal questions.Wholesale brokers like RT Specialty are exploring London market expansion.Cat bonds and state-level cost sharing models are gaining traction as disaster solutions.Insurance tech firms like FreeFlow AI automate servicing and back-office work. Chapters: 00:00 FreeFlow AI sponsor message 00:43 Episode start, hosts Brandon Schuh & Nick Hartmann 01:30 Wine reviews and insurance banter 03:00 Chubb Q3 2025 profits and combined ratio breakdown 06:00 Texas property insurance and market trends 09:00 Casualty insurance, nuclear verdicts, litigation financing 14:00 RT Specialty & London market speculation 16:30 Cyber insurance, Land Rover hack, criminal funding 21:00 Cat bonds & reinsurance alternatives 24:00 Climate disaster, state cost sharing 28:00 Upcoming defense attorney guests preview 32:00 Closing thoughts & wine recap Connect with RiskCellar: Website: https://www.riskcellar.com/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/

    37 min

  6. 10/27/2025

    Ampersandless: Marsh’s Minimalism Meets Acrisure’s Max Pain

    We dive deep into the seismic shifts reshaping the insurance brokerage landscape, from unprecedented jury verdicts to transformative AI automation. The duo unpacks how California legislation is changing the legal landscape, following Governor Gavin Newsom's decision to shut down fee-sharing arrangements between attorneys and non-lawyer investors through AB 931. This regulatory move comes as Johnson & Johnson faces a staggering $966 million talc powder verdict, raising critical questions about the role of litigation funding in driving thermonuclear verdicts that threaten to destabilize traditional insurance risk transfer mechanisms. The episode tackles Acrisure insurance layoffs affecting 400 employees, with the global brokerage citing AI and automation as primary drivers for workforce reduction. This development reflects broader insurance industry AI job displacement trends, as approximately 17,375 positions were eliminated between January and September 2025 according to the hosts. Brandon and Nick explore whether these cuts represent genuine technological efficiency gains or mask deeper margin pressures facing private equity-backed insurance consolidators who may have overpaid during aggressive acquisition sprees. From First Brands' mysterious missing $2.3 billion in the auto parts distribution sector to Marsh McLennan's stripped-down rebranding as simply "Marsh," the hosts examine how credit insurance and operational risk management practices are being tested in an era of fast-and-loose lending. The conversation weaves through Halloween planning and golf tournaments while delivering sharp insights into mass tort litigation funding disclosure requirements, contingency fee sharing regulations, and why credit insurance remains one of the insurance industry's most underutilized products despite mounting wholesale distributor bankruptcies. Key Takeaways: Acrisure announced 400 layoffs citing AI automation, representing significant workforce reduction in the insurance brokerage industry amid private equity margin pressuresCalifornia Governor Gavin Newsom signed AB 931 banning contingent fee sharing between attorneys and non-lawyer investors, effectively restricting third-party litigation funding arrangementsJohnson & Johnson hit with $966 million verdict in California talc cancer case backed by third-party litigation funding from Salton Lodge investment fundsFirst Brands Group filed bankruptcy with $2.3 billion mysteriously vanishing from the major auto parts distributor's balance sheet, exposing risks in private credit lendingMarsh McLennan rebranding to simply "Marsh" effective January 2026, consolidating Guy Carpenter and other subsidiaries under unified brand identityCredit insurance remains severely underutilized despite mounting wholesale distributor bankruptcies exposing significant gaps in risk management strategies Chapters: 00:00 Introduction 00:39 Welcome Back to RiskCellar with Brandon and Nick 00:57 Halloween Planning and Family Updates 03:41 Episode Overview: Industry News Breakdown 04:24 Marsh McLennan Rebranding Discussion 06:25 First Brands Bankruptcy and Missing Billions 07:53 Credit Insurance Conversation and Market Gaps 09:28 Acrisure Layoffs and AI Automation Impact 14:45 California Third-Party Litigation Funding Law 18:07 Johnson & Johnson $966 Million Talc Verdict 20:50 Two Truths and a Lie: Astronomy Edition 22:59 RiskCellar Recognition and Cross-Promotion Plans 24:30 Wine and Tequila Chat 27:47 Closing Remarks and Newsletter Subscription Connect with RiskCellar: Website: https://www.riskcellar.com/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann: LinkedIn: https://www.linkedin.com/in/nickjhartmann/ Sponsor: FreeFlow AI Website: https://www.freeflow.ai Email: sales@freeflow.ai

    29 min

  7. 10/02/2025

    The British Are Coming — And So Is Freeflow

    RiskCellar

    1h 5m

  8. 09/05/2025

    Conflicted Capital: The Price of Justice with Nick Rowles-Davies

    In this insightful episode of RiskCellar, hosts Brandon and Nick delve deep into the evolving world of litigation finance with special guest Nick Rowles-Davies, CEO of Lexolent. Nick shares his extensive experience across the UK and international litigation finance landscape, highlighting the industry's foundational purpose: enabling access to justice for those who otherwise could not afford to pursue valid claims. The conversation covers the broad spectrum of litigation finance, from consumer funding and law firm lending to high-stakes commercial disputes, and the stringent underwriting processes that ensure careful risk management. The discussion compares the UK and US legal systems, exploring the impact of adverse cost rules in the UK versus juries and nuclear verdicts in the US. Recent regulatory developments, including Arizona's pioneering mandatory disclosure requirement for litigation funding, are considered. The episode also highlights how technology and AI are transforming case identification and underwriting. Listeners gain balanced perspectives on litigation finance's role as a driver of fairness and disruption within the legal and insurance landscapes. Key Takeaways: Litigation finance began as a vehicle for access to justice. Multiple types exist: consumer, law firm, and commercial funding. Rigorous due diligence leads to funding very few cases. UK’s “loser pays” deters frivolous lawsuits, unlike US approach. Arizona’s disclosure rule promotes funding transparency. Litigation finance in US is a small but growing industry. AI and tech play increasing roles in deal sourcing and assessment. Collaboration with insurers aligns interests. Litigation finance can facilitate fairer outcomes and longer negotiations. Transparency and regulation are essential for credibility. Social and legal differences affect litigation finance globally. Legal technology promises further evolution. Challenges remain regarding lawsuit inflation and insurance impacts. Episode Chapters: 00:00 Intro & sponsor message 05:00 Origins and purposes of litigation finance 15:00 Types of funding and underwriting approach 25:00 UK vs US legal system differences 35:00 Arizona’s funding disclosure and regulation trends 45:00 Technology & AI in litigation finance 55:00 Case examples and insurance ecosystem effects 65:00 Social influences & nuclear verdict concerns 75:00 Closing thoughts & outro Connect with RiskCellar: Website: https://www.riskcellar.com/ Guest: Nick Rowles-Davies Lexolent Website: https://www.lexolent.com/nick-rowles-davies Nick Rowles-Davies LinkedIn: https://www.linkedin.com/in/nick-rowles-davies/ Brandon Schuh: Facebook: https://www.facebook.com/profile.php?id=61552710523314 LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/ Instagram: https://www.instagram.com/schuhpapa/ Nick Hartmann:LinkedIn: https://www.linkedin.com/in/nickjhartmann/

    1h 23m
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Ratings & Reviews

5
out of 5
10 Ratings

About

Join Brandon Schuh and Nick Hartmann on RiskCellar where they uncork the latest insurance headlines with a dash of sophistication and a sip of wine. From industry trends to policy updates, we blend insurance insights seamlessly with the nuanced flavors of different wines. Tune in for a captivating podcast that elevates your insurance knowledge while indulging your palate in the world of fine wines. Get ready to unwind, sip, and stay informed in a delightful fusion of insurance and oenophilic exploration.

Information

  • Creator
    RiskCellar
  • Years Active
    2020 - 2026
  • Episodes
    72
  • Rating
    Clean
  • Copyright
    © RiskCellar
  • Show Website
    RiskCellar

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