Exploring the Growth and Innovation of a Captive Insurance Program in Construction with Andy Stoelting

In this episode of The Edge of Risk Podcast by IRMI, host Joel Appelbaum sits down with Andy Stoelting, senior director of insurance and risk management at Webcor, to discuss the evolution of Webcor's captive insurance company, Paramount Insurance, Inc. Andy shares how the captive transitioned from a pure structure to a sponsored model with protected cells, enhancing flexibility and risk management capabilities. 

The conversation covers key innovations, including how the captive was leveraged to manage a 10-year performance obligation at a major university project, the benefits of domiciling in Hawaii, and the strategic influence of Japanese governance. Andy also provides insights into balancing captive utilization with commercial market opportunities and how a well-structured captive can drive financial performance. Whether you're in construction or exploring captives for risk management, this episode offers valuable takeaways on optimizing risk strategies for long-term success.