2017 Risk All Star: Faith Cring

Seeking Clarity

As the risk manager for an agricultural cooperative that sprays pesticides, plants genetically modified crops and sells propane and other explosive materials, Faith Cring knows that there are few underwriters who want any part of her business.

Faith Cring, director, Engineering, Environmental, Safety and Insurance, Growmark Inc.

“In agriculture, we deal with everything that the underwriter doesn’t like,” she said.

Cring also recognizes that excess underwriters tend to be city dwellers, not immediately comfortable with agriculture, or its risks.

“We’re not the hamburger joint on the corner,” she said. “We’re not typical.”

So Cring, herself a former underwriter with an MGA, took a wise approach to helping underwriters get more comfortable with her cooperative’s risk. So comfortable in fact, that Growmark is now considered a benchmark organization, one that underwriters refer to when asking other firms to step up their game.

“Growmark has embraced enterprise risk management across the board. They want to bear risk, they don’t want to just trade dollars with insurance companies,” said Dan Real, the president of ECC Insurance Brokers in Oak Terrace, Ill., which services Cring’s account.

One of Cring’s key programs brings urban-based underwriters out to the country to educate them about pesticide drift claims, grain siloes, and other realities of the agriculture business. When Cring conducts tours of Growmark facilities, she insists on complete transparency.

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For example, she doesn’t coach location managers on what to say to underwriters.

“She wants full and total transparency on the exposure,” said Real. “The last thing she wants to hear from an underwriter is ‘Oh, I didn’t know you did that.’ ”

And rather than just seeing the underwriters at renewal time or once or twice a year, Cring visits with some underwriters four or five times per year. She lets her broker, Dan Real, handle the renewal negotiations.

“No insurance company makes any money that first year they put an insured on the books; they don’t. The only way they are making money is if they keep and maintain relationships, and that is what we’re looking for.”  — Faith Cring, director, Engineering, Environmental, Safety and Insurance, Growmark Inc.

What she’s after is a much more thorough understanding of the insurance companies she is working with.

In turn, she wants the underwriters to fully understand her company’s business, and where the risk lies.

Cring seeks long-term relationships with her carriers, some of which she has been working with for more than 20 years, others closer to 30.

As a former underwriter, she knows that’s the way she can get tailored coverage for her business, and make sure that her underwriting partners make enough money to want to keep her business.

“I always tell them, I’m here to see you make money, but that you don’t make too much money,” Cring said. “No insurance company makes any money that first year they put an insured on the books; they don’t.

“The only way they are making money is if they keep and maintain relationships, and that is what we’re looking for,” she said. &

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Risk All Stars stand out from their peers by overcoming challenges through exceptional problem solving, creativity, perseverance and passion.

See the complete list of 2017 Risk All Stars.

More from Risk & Insurance

More from Risk & Insurance

2017 Risk All Stars

Immeasurable Value

The 2017 Risk All Stars strengthened their organizations by taking ownership of improved risk management processes and not quitting until they were in place.
By: | September 12, 2017 • 3 min read

Being the only person to hold a particular opinion or point of view within an organization cannot be easy. Do the following sound like familiar stories? Can you picture yourself or one of your risk management colleagues as the hero or heroine? Or better yet, as a Risk & Insurance® Risk All Star?

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One risk manager took a job with a company that was being spun off, and the risk management program, which was built for a much larger company, was not a good fit for the spun-off company.
Rather than sink into inertia, this risk manager took the bull by the horns and began an aggressive company intranet campaign to instill better safety and other risk management practices throughout the organization.

The risk manager, 2017 Risk All Star Michelle Bennett of Cable One, also changed some long-standing brokerage relationships that weren’t a good fit for the risk management and insurance program. In her first year on the job she produced premium savings and in her second year is in the process of introducing ERM company-wide.

Or perhaps this one rings a bell. The news is trickling out that a company is poised to dramatically expand, increasing the workforce three- or four-fold. Having this knowledge with certainty would be a great benefit to a risk manager, who could begin girding safety, workers’ comp and related programs accordingly. But things sometimes don’t work that way, do they? Sometimes the risk manager is one of the last people to know.

The Risk All Star Award recognizes at its core, creativity, perseverance and passion. The 13 winners of this year’s award all displayed those traits in abundance.

In the case of 2017 Risk All Star winner Steve Richards of the Coca-Cola Bottling Company, the news of an expansion spurred him to action. He completely overhauled the company’s workers’ compensation program and streamlined its claim management system. The results, even with a much higher headcount, were reduced legal costs, better return-to-work experiences for injured workers and a host of other improvements and savings.

The Risk All Star Award recognizes at its core, creativity, perseverance and passion. The 13 winners of this year’s award all displayed those traits in abundance. Sometimes it took years for a particular risk solution, as promoted by a risk manager, to find acceptance.

In other cases a risk manager got so excited about a solution, they never even considered getting turned down. They just kept pushing until they carried the day.

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Butler University’s Zach Finn became obsessive about what he felt was a lackluster effort on the part of the insurance industry to bring in new talent. The former risk manager for the J.M. Smucker Co. settled on the creation of a student-run captive to give his risk management students the experience they would need to get hired right out of college.

The result was a better risk management program for the university’s College of Liberal Arts and Sciences, and immediate traction in the job market for Finn’s students.

A few of our Risk All Stars told us that the results they are achieving were decades in the making. Only by year-in, year-out dedication to gaining transparency about her co-op’s risks and learning more and more about her various insurance carriers, did Growmark Inc.’s Faith Cring create a stalwart risk management and insurance program that is the envy of the agricultural sector. Now she’s been with some of her insurance carriers more than 20 years — some more than 30 years.

Having the right idea and not having a home for it can be a lonely, frustrating experience. Having the creativity, the passion and perhaps, most importantly, the perseverance to see it through and get great results makes you a Risk All Star. &

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Risk All Stars stand out from their peers by overcoming challenges through exceptional problem solving, creativity, perseverance and passion.

See the complete list of 2017 Risk All Stars.

Dan Reynolds is editor-in-chief of Risk & Insurance. He can be reached at [email protected]