A Conversation With ... Ben Volner

Tell us about Ollis & Co., an independent risk, benefit and insurance agency.

It's been in business since 1885 and ... Richard Ollis is a fourth-generation CEO. We are now 100 percent owned through an (employee stock ownership plan) so all employees have an ownership stake in the company's profitability and success. We have about 33 total employees, with (about a third) in the commercial risk department.

I've been with Ollis & Co. a little more than a year and a half.

What's your job?

We help our clients design and implement long-term plans to manage their total costs of risk. First, we'll look at their assets, from their buildings to equipment and business contents, making sure they've got adequate insurance-to-value (ratios). We go through a risk-audit process (to) look at liability exposures, whether it's products, operations (or) partnerships that might pose a liability exposure. We look at things like protecting the business' income in the event of a loss, with assessment or analysis of protecting their revenue streams. We look at things like disaster recovery and business continuity planning.

Beyond insurance coverage, how can businesses lower risk?

Insurance policies are probably the last part in our process. (With risk audits) we determine a baseline where a business is in terms of exposure, and then we help them implement plans to either eliminate or transfer that risk. The transfer comes through the insurance policy process. The other part is through planning, whether it's loss-safety policies and procedures for ... human resources, or disaster planning or business continuity planning. (There's also) workers' compensation planning - how to prevent losses in the first place - and then, how to effectively manage the claim to reduce the impact.

Describe the relationship between Ollis and a company that enlists its help.

It's an ongoing cycle. We have what we call the implementation and the monitoring process, so once we develop the risk management plan, we set up a calendar for that year and set goals with timelines (and) evaluate the process and progress.

What are some common misperceptions about business risks?

One is (having) adequate insurance-to-value (coverage) on your properties and assets. In a real estate market that's soft, like we're in today, market value is going to be less than a replacement cost appraisal, typically. If a building were to be destroyed by a tornado, (we look at) how much would it cost to replace it in like kind and quality. Another is business interruption planning. Most (companies) don't seem to go through the process of determining the impact of an event like a tornado or a destroyed building would have on their cash flows, or how to specifically insure that revenue stream. That insurance is called business income and extra expense, and it's part of business interruption planning.

How do you work to spread awareness of these issues to business leaders?

We do get asked to speak at various events like (one in March for the Springfield Area Chamber of Commerce.) We've partnered with Convoy of Hope for its annual Hope Begins Here disaster preparedness seminars. That's one way to get businesses together to hear about how to be prepared in the event of any kind of disaster, natural or other.

Tell us about your career and what brought you to Ollis?

Prior to Ollis, I was with an insurance carrier called Unum, a carrier for disability, life and long-term care for employers. Before that, I was with the Catholic Health Association in St. Louis for seven years, and I was director of program development. My wife, Laura, is from Kimberling City, and she went to Drury also, and we just had a plan to raise the family down here. We have a son, Garrett, 7, and a 4-year-old girl named Lydia.Interview by Features Editor Maria Hoover.