Column: Roger's Soapbox

A Sobering Step Too Far?

By: | June 1, 2017 • 3 min read
Roger Crombie is a United Kingdom-based columnist for Risk & Insurance®. He can be reached at [email protected]

Puritanism was a religious reform movement that arose in England in the late 16th century. Agents sent to the northern colonies in the New World laid the foundations for the religious, intellectual, and social order of the nascent United States.


The British got over the idea, and became instead stoics, who regulate themselves, whereas puritans know what’s best for everyone else.

The new puritanism had, until recently, limited itself to sex and smoking.

In matters sexual, swains at UK universities are advised to receive written permission from the objects of their desire 24 hours ahead of an intended union, to head off the potential for misunderstanding.

Smoking, of course, has replaced blasphemy as the ultimate depravity. Beastly smokers — of which I am one — are now considered akin to terrorists. We hateses them. Where there’s smoke, there’s puritans. Before becoming the most hated man in Europe, Tony Blair wanted to ban smoking everywhere. Instead, everywhere banned Tony Blair.

By all means punish those who practice excess. But dictate moral behavior to those who don’t? Not on your life.

Lloyd’s of London had its genesis in a drinking environment (coffee), not long after the old puritanism held sway. Lloyd’s has now banned its 800 employees from drinking alcohol of any sort before 5:00pm, and would probably prefer them to not drink thereafter. Gross misconduct charges and possible termination will follow for those who break the rules.

Here I must also declare an interest. I haven’t had an alcoholic beverage since 1986, because I was, and doubtless still am, an alcoholic. It never affected my work, mind you, and thereby hangs a tale. As drunk as I was each night, I am an adult, and understood that work mattered.

Lloyd’s apparently regards its employees as children. No smoking; no drinking; no sex please (they’re British); and no enjoyment of any kind whatsoever at work.

Puritans were often represented dramatically as “secretly lascivious purveyors of feigned piety.” I don’t know how well that description suits the Lloyd’s people, but the term “condescending” fits nicely.

Lloyd’s wants its workplace to be a drab, joyless environment. It fails to see the benefit of employees networking over a lunchtime pint, as they have for 300 years. A glass of wine or a pint of beer with lunch is no worse for most people than a Diet Coke.

By all means punish those who practice excess. But dictate moral behavior to those who don’t? Not on your life. Many of the brightest, hardest-working insurance people I know enjoy a glass of wine with lunch. One imagines they will seek employment in industries that respect their intelligence and self-control.


Until now, I had thought of insurance as one such industry. A spot of alcohol need not ruin a day’s work or a person’s career. But a ban on lunchtime drinking will damage Lloyd’s, because most adults hate being told what to do by people whose moral compass is set on stun.

Insurance underwriting was recently rated by Oxford University as the job most likely to be susceptible to automation, with 98.9 percent of its practitioners at risk. I’d bet Lloyd’s is bursting to introduce the idea of underwriting by robots. To ease their arrival, Lime Street is already treating its human resources as automatons. &

More from Risk & Insurance

More from Risk & Insurance

Risk Management

The Profession

Maila Aganon is the personification of the American dream. The vice president of treasury and risk for Caesars Entertainment Corp. immigrated from the Philippines and worked her way to the top.
By: | October 12, 2017 • 4 min read

R&I: What was your first job?

I actually had three first jobs at the same time at the age of 16. I worked as a cashier in a fast-food restaurant, a bank teller and a debt collector for an immigration law firm.

R&I: Who is your mentor and why?

I have a few. The first one would be the first risk manager I reported to. He taught me the technical part of the job, risk financing, captives and insurance. I am also privileged to be mentored by Lori Goltermann (CEO of U.S. Retail for Aon Risk Solutions).  From her I learned to be resilient and optimize life/work balance. Then of course I also have a circle of ladies at work who I lean in to!

R&I: How did you come to work in this industry?


I was once a bank teller and had a client who was an insurance agent. He would come in every day to make deposits. One day, he offered me a job. He said, “How would you like to have your own desk, your own phone and your own computer?” And I said, “When do I start?” I worked for this personal lines insurance company for six years.

R&I: Did you take to it immediately?

Yes, I did sales, claims and insurance accounting. I left for a couple years and that is when AAA came calling, which was my first introduction to risk management. I didn’t know there was such a thing as commercial insurance. They called me and the pitch was “how would you like to run a captive insurance company?”

R&I: What have you accomplished that you are proudest of?

It is not so much the job but I say that I am the true product of the American Dream. I came to the U.S. when I was 16. I worked three jobs because I didn’t want to go to high school (She’d already graduated high school in the Philippines.) I spoke very little English, and due to hard work, grit and a great smile I’m now here working with all of you!

R&I: What is your favorite book or movie?

In movies, it is a toss-up between Gone with the Wind and Big Daddy.

R&I: What is your favorite drink?


I like anything sweet. If you liquify a dessert that’s my perfect drink.

R&I: What is the most unusual/interesting place you have ever visited?

This is easy because I just got back from Barcelona on a side trip. I visited the Montserrat Monastery, which is a thousand-year old monastery. It was raining and foggy. I hiked for three hours and I didn’t see a single soul. It was a very peaceful place.

R&I: What is the riskiest activity you ever engaged in?

This is going back to working at a fast food chain when I was young. I worked in a very undesirable location in San Francisco. At 16 I used to negotiate with gang members so they wouldn’t rob me during my shift. I had to give them chicken so they wouldn’t rob me.

Maila Aganon, VP, Treasury and Risk, Caesars Entertainment Corp.

R&I: If the world has a modern hero, who is it and why? 

I can’t say me. They have to be my kids Kyle and Hailey. They can make me laugh and cry within a half-minute of each other. Kyle is 10, a perfect Mama’s boy. Hailey is seven going on 18.

R&I: What about this work do you find the most fulfilling or rewarding?

I think the most fulfilling part is how you build relationships with people and then after a while they become your friends.

R&I: What is the risk management community doing right?

Risk managers do a great job of networking. They are number one. Which is not a surprise because the pillar of our work is building a relationship with underwriters, clients and brokers.

R&I: What could the risk management community be doing a better job of? 


I am experiencing that right now; talent.  We need to a better job in attracting and retaining talent. Nobody knows about what we do. You tell someone ‘I’m as risk manager’ and they give you a blank look. What does that mean?

We’re great marketers and we should use this skill set in attracting talent. We should engage our universities, our communities, even our yoga groups and talk to them about the exciting world of risk. It is an exciting career because there is nothing like it.

R&I: What emerging commercial risk most concerns you? 

It would have to be the increasing cyber risk and the interdependency of systems.

R&I: What does your family think you do? 

I took my seven year old daughter once to an insurance event that had live music, dancing and drinks. She thinks that whenever I go to an insurance meeting, I’m heading to a party.

Katie Siegel is an associate editor at Risk & Insurance®. She can be reached at [email protected]