Episode #173: Chris Krepcho - Managing Risk in Local Government

In this episode, Steve Vancore and FLC Chief of Insurance and Financial Services Chris Krepcho delve into the complexities of risk management within local government. They discuss how risk tolerance varies significantly based on factors like city size, financial reserves, and the unpredictability of certain risks like workers' compensation. The conversation highlights the importance of periodically reassessing risk strategies to adapt to changing costs and conditions.The duo also explores the role of leadership in shaping risk tolerance, noting that some city leaders are more willing to accept risks for potential gains, while others prefer to transfer risks entirely. They touch upon the challenges faced by municipalities in managing insurance rates influenced by global events and local disasters like hurricanes.