With Jeff Caudill as its director over the past three years, Haskell’s Risk Management department has grown in scope and sophistication. With his promotion to Vice President, he envisions even more expansion and adaptation.
“With no VP position precedent, I was quite pleased to find that our Executive Leadership Team views this as a Vice President-level type of role,” Caudill said. “It gives me the indication that we can grow this in a lot of different ways, and we can expand what we do within our captive. We're only just beginning to touch what we will hopefully be able to do in the future.”
Risk management in construction is designed to plan, monitor, mitigate and control those measures needed to prevent clients’ and Haskell’s financial exposures. Because of its history of impeccable safety, project diversity and financial stability, Haskell maintains excellent relationships with its sureties, insurance carriers and brokers. For clients, this translates to an assurance that their investment to work with Haskell will ultimately be safe and subject to lower insurance rates than they could typically obtain on their own.
Caudill brought more than 25 years of insurance and risk-management experience when he joined Haskell in 2020, and he and his team immediately began more than a year of research into the company’s risk needs, program coverage parameters and the establishment of partnerships for actuarial, legal and captive management services.
Based on their findings, Haskell created AEC Diamond Casualty LLC, a single-parent captive, which is a form of insurance controlled by one entity to insure some or all of the risks of the parent company and its affiliates. This approach offers advantages in insurance coverage and pricing stability, improved services and additional avenues for capital growth.
Currently, AEC Diamond Casualty covers several casualty lines of insurance plus some benefit lines for Haskell. Caudill foresees expanding and adapting the Risk Management department to become more market project-specific and comprising risk management team members overseeing specific but different market areas.
“We're looking to grow this department into a project-level market risk management type,” he said. “There might be an opportunity for us to grow to the level where we have specific risk managers that maintain management function over a group of our markets. It’s a chance to grow and deepen our commitment to risk management within Haskell.”
Haskell assures clients that their projects will be completed safely, on time, within budget and with the least possible risk exposure. Contact us to discuss your facilities needs.
