Barbara Goodwin, CPCU, ARM-E
Senior Vice President
Wells Fargo, San Carlos, Calif.
Jumping Into It
Barbara Goodwin, senior vice president with Wells Fargo Insurance Services Inc., jumps down into the risk management trenches right along with clients.
For Goodwin, that means more than placing clients' risks with insurers. For a public transit client that has made transferring risk to its contractors and vendors a central element of its operational and risk management strategy, Goodwin toiled last year on perfecting the process.
The client manages about 300 vendors annually and assumes only vicarious, rather than direct, liability for each contract through a contractual risk-transfer program.
"One of our organization's greatest risk management problems centers on assuring that vendors, contractors and funding recipients appropriately share risk by meeting the insurance requirements in the contracts we enter with them," the client said.
"This year, Barbara devoted an exceptional amount of time and applied extraordinary diligence to the organizational transition of our contract insurance compliance review program to a more efficient and accurate process in order to resolve our risk management problem through adequate, consistent applied and regularly monitored contractual risk sharing," the client said.
In addition, Goodwin helped her client launch a Web-based version of the contract management system, incorporating an insurance component coordinated with Wells Fargo Insurance Services.
February 21, 2012
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