Archive for the ‘Media Control’ Category

Pest Control Market 2023 | Competitive Insights and Outlook 2030 … – Kalkine Media

PUNE, MAHARASHTRA, INDIA, August 5, 2023/EINPresswire.com/ -- End User (Residential, Commercial, Agricultural), Types (Bed Bug Extermination, Fly Control, Fruit Fly Control), By ""Pest Control Market -2023"" Region and Gain valuable insights from this Exclusive Data Report, Exploratory, Descriptive, Causal Research which provides qualitative and quantitative perspectives on SWOT and PESTLE analysis.

Number of Pages: 113

Global Pest Control market size was valued at USD 4509.0 million in 2022 and is expected to expand at a CAGR of 12.69% during the forecast period, reaching USD 9232.24 million by 2028.

Ask for Sample Report - https://www.marketgrowthreports.com/enquiry/request-sample/22382746

Pest Control Market Report Contains 2023: -

Complete overview of the global Pest Control Market Pest Control Market provides high-class data, info, vital statistics, trends, and competitive landscape details in this role sector. Top Country data and analysis for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Pest Control Markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa Description and analysis of Pest Control market potential by type, Deep Dive, disruption, application capacity, end use industry impact evaluation of most important drivers and restraints, and dynamics of the global Pest Control Market and current trends in the enterprise Pest Control industry forecast is offered along with info related to key drivers, restraints, and opportunities.

Inquire or Share Your Questions If Any Before the Purchasing This Report https://www.marketgrowthreports.com/enquiry/pre-order-enquiry/22382746

User Center of Pest Control Market 2023

Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Precious Metals market?

Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry.

Final Report will add the analysis of the impact of COVID-19 on this industry.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT - REQUEST SAMPLE - https://www.marketgrowthreports.com/enquiry/request-covid19/22382746

The Global Pest Control market is anticipated to rise at a considerable rate during the forecast period. the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Pest Control Market - Segmentation Analysis:

Report further studies the market development status and future Pest Control Market trend across the world. Also, it splits Pest Control market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects.

Segment by Type

Bed Bug Extermination Fly Control Fruit Fly Control

Which growth factors drives the Pest Control market growth?

Increasing use of is expected to drive the growth of the Pest Control Market.

Segment by Application

Residential Commercial Agricultural

Which market dynamics affect the business?

The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. With this information, stakeholders will be more capable of developing new strategies, which focus on market opportunities that will benefit them, making their business endeavors profitable in the process.

Get a Sample PDF of report https://www.marketgrowthreports.com/enquiry/request-sample/22382746

Pest Control Market - Competitive Analysis:

How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth. Please find the key player list in Summary.

Pest Control Industry leading players are the ones that have the biggest impact, the most market share 2023, the best reputation, or the highest revenue within their field they are

Who Are The Leading Players In Pest Control Market?

Harris Bayer Advanced Spectrum Brands Ortho Rollins BASF Ecolab Garden Tech Terminix SC Johnson Massey Services Anticimex Kill germs MGK Rentokil Initial Willert Home Products Bonide Products

Get a Sample Copy of the Report at https://www.marketgrowthreports.com/enquiry/request-sample/22382746

What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases. Please find a more complete list of data sources in Chapters

Get a Sample Copy of the Report at - https://www.marketgrowthreports.com/enquiry/request-sample/22382746

Major Points from Table of Contents

Global Pest Control Market Research Report 2023-2030, by Manufacturers, Regions, Types and Applications

1 Introduction

2 Key Findings of the Study

3 Market Dynamics

4 Value Chain of the Pest Control Market

5 Global Pest Control Market-Segmentation by Type

6 Global Pest Control Market-Segmentation by Application

7 Global Pest Control Market-Segmentation by Marketing Channel

8 Competitive Intelligence Company Profiles

9 Global Pest Control Market-Segmentation by Geography

10 Future Forecast of the Global Pest Control Market from 2023-2030

11 Appendix

And More

Browse Complete Table of Contents at - https://www.marketgrowthreports.com/enquiry/request-sample/22382746

Sambit kumar Market Growth Reports email us here

Read more:
Pest Control Market 2023 | Competitive Insights and Outlook 2030 ... - Kalkine Media

From Flood Control to Hydropower: Unveiling the Legacy of Dale … – lrn.usace.army.mil

CELINA, Tenn. (July. 20, 2023) A monumental feat of engineering and progress stands tall in the heart of the Cumberland River basin. Dale Hollow Dam and Lake, authorized by the Flood Control Act of 1938 and the River and Harbor Act of 1946, emerged to control the floodwaters of the Obey River and contribute to the reduction of flood levels at municipal, industrial, and agricultural areas along the Cumberland, lower Ohio, and Mississippi Rivers.

Contractors completed the flood control project in 1943 but suspended the construction of the powerhouse during World War II. In July 1946, construction of the powerhouse resumed, and Dale Hollow Dam became the first of nine U.S. Army Corps of Engineers power plant erected within the Cumberland River basin.

Stanley Carter, power plant superintendent, described the planning of Dale Hollow Dam and the subsequent dams as a "holistic" approach to taming the Cumberland River system. "The Corps created each of the dam sites to work in harmony with each other," he explained, pointing out the distinct roles played by non-river run plants like Dale Hollow, Wolf Creek, Center Hill, and J. Percy Priest, which primarily served as storage facilities for flood control. In contrast, the run of the river plants along the Cumberland and Tennessee Rivers focused on navigation as their primary mission, with minimal water storage capacity.

From 1948 to 1953, contractors added three Francis power-generating turbine units to the Dale Hollow Dam Power Plant. Each unit can produce 16-18 megawatts of power. Together, the turbines generate up to 54 megawatts of power, enough to supply the needs of a town with approximately 45,000 people.

For the town of Celina, with a population of 1,400, that's enough power to keep the entire town powered in the event of a complete or partial energy loss.

The powerplant does more than generate power. Since hydropower is an immediate source of energy, hydropower turbines work as backup generators. Dale Hollow's turbines stabilize the 69-kilovolt electrical grid system it connects to, providing a reliable and steady electricity source during increased demand or emergencies.

By increasing the voltage on the turbine units, the voltage on the entire electrical grid system receives a boost.

"We're like the Red Roof Inn. We keep the lights on," said Steven Crawford, journeyman electrician.

To keep the lights on, Carter relies on a strong, highly competent, and professional team to maintain the aging equipment. The team includes Office Attendant Amanda Matheny, Senior Electrician Paul Drinkard, Journeyman Electricians Waylon Hackett, Steve Crawford, Stanley Theisen, Senior Mechanic Brian Perry, Journeyman Mechanics Kyle Cross, Josh Marcum, Chris Boone, and Maintenance Workers Jeremy Bilbrey and Elijah Garrett.

Mechanics and electricians must complete a rigorous four-year training program in addition to the education they receive before coming to the Corps.

Carter described the training program as a testament to the field's commitment to safety. "We have a great responsibility to intimately know every aspect of our job and the equipment so we can operate in a safe environment while ensuring the safety of those around us," he said.

The highly skilled maintenance staff work hard to keep the equipment operating at the same efficiency it did 80 years ago but go above and beyond. "They're innovative thinkers who find creative ways to do more with less," said Crawford.

At the power plant, creativity and innovation are on display. Garrett and Bilbrey have spent time applying fresh and updated coats of paint around the plant, giving it that 'new plant' glow. Marcum, a multi-talented individual, inspires a sense of pride and professionalism within the plant through his work. He has created custom light features projecting the 'Essayons' logo and a wood-framed elevator car shaft with the Corps Castle.

Creativity and innovative problem-solving are a theme at Dale Hollow. For 80 years, the generator turbine floor has been without a restroom. Maintenance workers have had to traverse the plant to clean themselves up after a job or utilize the bathroom. Additionally, access to drainage from a toilet was non-existent. Employees found an area on the turbine floor where they could create a washroom and install a toilet that can pump drainage to the existing sewer and assist in pumping the sink drain water to the sewer. When it's finished, employees will be able to use the sink for clean up and direct the wastewater to an appropriate method to be treated.

Carter said how mechanics and electricians recently rehabilitated the drive component of the tail deck crane for a fraction of the cost and now have another skillset. "Dale Hollow has become a reliable source of sustainability and reliability due to the professionalism of these people," said Carter.

Thanks in part to the pioneering efforts of Dale Hollow Dam and the people who keep it running, the Cumberland River Basin has been a steadfast provider of sustainable power to Tennessee and Kentucky for the past 80 years and will continue to provide power well into the future.

The public can obtain news, updates and information from the U.S. Army Corps of Engineers Nashville District on the districts website atwww.lrn.usace.army.mil, on Facebook athttp://www.facebook.com/nashvillecorpsand on Twitter athttp://www.twitter.com/nashvillecorps.

Follow us on LinkedIn for the latest Nashville District employment and contracting opportunities at https://www.linkedin.com/company/u-s-army-corps-of-engineers-nashville-district. #Jobs #Contracting

More:
From Flood Control to Hydropower: Unveiling the Legacy of Dale ... - lrn.usace.army.mil

A systematic review of the strength of evidence for the most … – Nature.com

How to be happy, how to get rich - Explore. Google Trends (2021); https://trends.google.com/trends/explore?geo=CA&q=how to be happy,how to get rich

Nelson, L. D., Simmons, J. & Simonsohn, U. Psychologys Renaissance. Annu. Rev. Psychol. 69, 511534 (2018).

Article PubMed Google Scholar

Simmons, J. P., Nelson, L. D. & Simonsohn, U. False-positive psychology: undisclosed flexibility in data collection and analysis allows presenting anything as significant. Psychol. Sci. 22, 13591366 (2011).

Article PubMed Google Scholar

Nuzzo, R. Scientific method: statistical errors. Nature 506, 150152 (2014).

Article CAS PubMed Google Scholar

Wagenmakers, E.-J., Wetzels, R., Borsboom, D., van der Maas, H. L. J. & Kievit, R. A. An agenda for purely confirmatory research. Perspect. Psychol. Sci. 7, 632638 (2012).

Article PubMed Google Scholar

Nosek, B. A., Ebersole, C. R., DeHaven, A. C. & Mellor, D. T. The preregistration revolution. Proc. Natl Acad. Sci. USA 115, 26002606 (2018).

Article CAS PubMed PubMed Central Google Scholar

Fraley, R. C. & Vazire, S. The N-pact factor: evaluating the quality of empirical journals with respect to sample size and statistical power. PLoS ONE 9, e109019 (2014).

Article PubMed PubMed Central Google Scholar

John, L. K., Loewenstein, G. & Prelec, D. Measuring the prevalence of questionable research practices with incentives for truth telling. Psychol. Sci. 23, 524532 (2012).

Article PubMed Google Scholar

Collaboration, O. S. Estimating the reproducibility of psychological science. Science 349, aac4716 (2015).

Article Google Scholar

Wagenmakers, E. J. et al. Registered Replication Report: Strack, Martin, & Stepper (1988). Perspect. Psychol. Sci. 11, 917928 (2016).

Article PubMed Google Scholar

Myers, D. G. & Diener, E. The scientific pursuit of happiness. Perspect. Psychol. Sci. 13, 218225 (2018).

Article PubMed Google Scholar

Diener, E. et al. Findings all psychologists should know from the new science on subjective well-being. Can. Psychol. 58, 87104 (2017).

Article Google Scholar

Hunt, J. T., Howell, A. J. & Passmore, H.-A. In vivo nature exposure as a positive psychological intervention: a review of the impact of nature interventions on wellbeing. Nat. Health https://doi.org/10.4324/9781003154419-12 (2021).

Funder, D. C. et al. Improving the dependability of research in personality and social psychology: recommendations for research and educational practice. Pers. Soc. Psychol. Rev. 18, 312 (2014).

Article PubMed Google Scholar

Carr, A. et al. Effectiveness of positive psychology interventions: a systematic review and meta-analysis. J. Posit. Psychol. 16, 749769 (2021).

Article Google Scholar

Bolier, L. et al. Positive psychology interventions: a meta-analysis of randomized controlled studies. BMC Public Health 13, 119 (2013).

Article PubMed PubMed Central Google Scholar

Simonsohn, U., Simmons, J. & Nelson, L. D. Above averaging in literature reviews. Nat. Rev. Psychol. 1, 551552 (2022).

Article Google Scholar

Kvarven, A., Strmland, E. & Johannesson, M. Comparing meta-analyses and preregistered multiple-laboratory replication projects. Nat. Hum. Behav. 4, 423434 (2019).

Article PubMed Google Scholar

Richard, F. D., Bond, C. F. & Stokes-Zoota, J. J. One hundred years of social psychology quantitatively described. Rev. Gen. Psychol. 7, 331363 (2003).

Article Google Scholar

Diener, E. Subjective well-being. Psychol. Bull. 95, 542575 (1984).

Article CAS PubMed Google Scholar

Watson, C., Clark, L. A. & Tellegen, A. Development and validation of brief measures of positive and negative affect: the PANAS scales. J. Pers. Soc. Psychol. 54, 10631070 (1988).

Article CAS PubMed Google Scholar

Diener, E., Emmons, R., Larsen, R. & Griffin, S. The satisfaction with life scale. J. Pers. Assess. 49, 7175 (1985).

Article CAS PubMed Google Scholar

Lyubomirsky, S. & Lepper, H. A measure of subjective happiness: preliminary reliability and construct validation. Soc. Indic. Res. 46, 137155 (1999).

Article Google Scholar

Diener, E. & Ryan, K. Subjective well-being: a general overview. South Afr. J. Psychol. 39, 391406 (2009).

Article Google Scholar

Nelson-Coffey, S. K., Johnson, C. & Coffey, J. K. Safe haven gratitude improves emotions, well-being, and parenting outcomes among parents with high levels of attachment insecurity. J. Posit. Psychol. https://doi.org/10.1080/17439760.2021.1991454 (2021).

Article Google Scholar

Walsh, L. C., Regan, A., Twenge, J. M. & Lyubomirsky, S. What is the optimal way to give thanks? Comparing the effects of gratitude expressed privately, one-to-one via text, or publicly on social media. Affect. Sci. https://doi.org/10.1007/s42761-022-00150-5 (2022).

Article PubMed PubMed Central Google Scholar

Atad, O. I. & Russo-Netzer, P. The effect of gratitude on well-being: should we prioritize positivity or meaning? J. Happiness Stud. 23, 12451265 (2022).

Article Google Scholar

Toepfer, S. M., Cichy, K. & Peters, P. Letters of gratitude: further evidence for author benefits. J. Happiness Stud. 13, 187201 (2012).

Article Google Scholar

Shin, L. J. et al. Gratitude in collectivist and individualist cultures. J. Posit. Psychol. 15, 598604 (2020).

Article Google Scholar

Titova, L., Wagstaff, A. E. & Parks, A. C. Disentangling the effects of gratitude and optimism: a cross-cultural investigation. J. Cross-Cult. Psychol. 48, 754770 (2017).

Article Google Scholar

Walsh, L. C., Regan, A. & Lyubomirsky, S. The role of actors, targets, and witnesses: examining gratitude exchanges in a social context. J. Posit. Psychol. 17, 233249 (2022).

Article Google Scholar

Fritz, M. M., Armenta, C. N., Walsh, L. C. & Lyubomirsky, S. Gratitude facilitates healthy eating behavior in adolescents and young adults. J. Exp. Soc. Psychol. 81, 414 (2019).

Article Google Scholar

Armenta, C. N., Fritz, M. M., Walsh, L. C. & Lyubomirsky, S. Satisfied yet striving: gratitude fosters life satisfaction and improvement motivation in youth. Emotion 22, 10041016 (2020).

Article PubMed Google Scholar

Lyubomirsky, S., Dickerhoof, R., Boehm, J. K. & Sheldon, K. M. Becoming happier takes both a will and a proper way: an experimental longitudinal intervention to boost well-being. Emotion 11, 391402 (2011).

Article PubMed PubMed Central Google Scholar

Oltean, L. E., Miu, A. C., oflu, R. & Szentgotai-Ttar, A. Tailoring gratitude interventions. How and for whom do they work? The potential mediating role of reward processing and the moderating role of childhood adversity and trait gratitude. J. Happiness Stud. https://doi.org/10.1007/s10902-022-00530-5 (2022).

Article Google Scholar

Oishi, S., Koo, M., Lim, N. & Suh, E. M. When gratitude evokes indebtedness. Appl. Psychol. Health Well-Being 11, 286303 (2019).

Article PubMed Google Scholar

Oliveira, R., Bald, A., Madeira, M., Ribeiro, T. & Arriaga, P. The impact of writing about gratitude on the intention to engage in prosocial behaviors during the COVID-19 outbreak. Front. Psychol. 12, https://doi.org/10.3389/fpsyg.2021.588691 (2021).

Layous, K. et al. The proximal experience of gratitude. PLoS ONE 12, 126 (2017).

Article Google Scholar

Asebedo, S. D., Seay, M. C., Little, T. D., Enete, S. & Gray, B. Three good things or three good financial things? Applying a positive psychology intervention to the personal finance domain. J. Posit. Psychol. 16, 481491 (2021).

Article Google Scholar

Neumeier, L. M., Brook, L., Ditchburn, G. & Sckopke, P. Delivering your daily dose of well-being to the workplace: a randomized controlled trial of an online well-being programme for employees. Eur. J. Work Organ. Psychol. 26, 555573 (2017).

Article Google Scholar

Manthey, L., Vehreschild, V. & Renner, K. H. Effectiveness of two cognitive interventions promoting happiness with video-based online instructions. J. Happiness Stud. 17, 319339 (2016).

Article Google Scholar

Cunha, L. F., Pellanda, L. C. & Reppold, C. T. Positive psychology and gratitude interventions: a randomized clinical trial. Front. Psychol. 10, https://doi.org/10.3389/fpsyg.2019.00584 (2019).

Regan, A., Walsh, L. C. & Lyubomirsky, S. Are some ways of expressing gratitude more beneficial than others? Results from a randomized controlled experiment. Affect. Sci. 4, 7281 (2022).

Article PubMed PubMed Central Google Scholar

Layous, K., Kumar, S. A., Arendtson, M. & Najera, A. The effects of rumination, distraction, and gratitude on positive and negative affect. J. Pers. Soc. Psychol. 124, 10531078 (2022).

Article PubMed Google Scholar

Baumeister, R. F. & Leary, M. R. The need to belong: desire for interpersonal attachments as a fundamental human motivation. Psychol. Bull. 117, 497529 (1995).

Article CAS PubMed Google Scholar

Dunbar, R. I. M. & Shultz, S. Evolution in the social brain. Science 317, 13441347 (2007).

Article CAS PubMed Google Scholar

Ryan, R. M. & Deci, E. L. Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being. Am. Psychol. 55, 6878 (2000).

Kardas, M., Schroeder, J. & Brien, E. O. Keep talking: (mis)understanding the hedonic trajectory of conversation. J. Pers. Soc. Psychol., 123, 717740 (2022).

Schroeder, J., Lyons, D. & Epley, N. Hello, stranger? Pleasant conversations are preceded by concerns about starting one. J. Exp. Psychol. Gen. 151, 11411153 (2022).

Article PubMed Google Scholar

Jacques-Hamilton, R., Sun, J. & Smillie, L. D. Costs and benefits of acting extraverted: a randomized controlled trial. J. Exp. Psychol. Gen. 148, 15381556 (2018).

Article PubMed Google Scholar

Margolis, S. & Lyubomirsky, S. Experimental manipulation of extraverted and introverted behavior and its effects on well-being. J. Exp. Psychol. Gen. 149, 719731 (2020).

Article PubMed Google Scholar

Gunaydin, G., Oztekin, H., Karabulut, D. H. & Salman-Engin, S. Minimal social interactions with strangers predict greater subjective well-being. J. Happiness Stud. Interdiscip. Forum Subj. Well-Being 22, 18391853 (2021).

Google Scholar

Van Dam, N. T. et al. Mind the hype: a critical evaluation and prescriptive agenda for research on mindfulness and meditation. Perspect. Psychol. Sci. 13, 3661 (2018).

Article PubMed Google Scholar

Read more:
A systematic review of the strength of evidence for the most ... - Nature.com

U.S. Navy to Commission Littoral Combat Ship Canberra in Australia – Department of Defense

The U.S. Navy will commission its newest Independence-variant littoral combat ship (LCS), the future USS Canberra (LCS 30), during an international commissioning ceremony, at 10:00 a.m. AEST on Saturday, July 22 (8:00 p.m. EDT on Friday, July 21) at the Royal Australian Navy Fleet Base East in Sydney, Australia.

The Honorable Carlos del Toro U.S. Secretary of the Navy, will deliver the commissioning ceremony's principal address. Remarks will also be provided by His Excellency General the Honourable David Hurley, AD, DSC, Governor-General of the Commonwealth of Australia; the Honourable Richard Marles, MP, Deputy Prime Minister of Australia; the Honorable Caroline Kennedy, U.S. Ambassador to Australia; Adm. Michael Gilday, U.S. Chief of Naval Operations; Vice Adm. Mark Hammond, Royal Australian Chief of Navy; and Mr. Larry Ryder, Vice President of Business Development and External Affairs, Austal USA.The ship's sponsor is Australian Senator, the Honourable Marise Payne, the former Australian Minister of Foreign Affairs who attended the ship's keel laying ceremony at Austal USA's shipyard in Mobile, Alabama, in 2020.

Independence-variant LCS are fast, optimally-manned, mission-tailored, surface combatants that operate both close to shore and in open-ocean environments. LCS integrate with joint, combined, crewed, and unmanned systems to support forward-presence, maritime security, sea control, and deterrence missions around the globe. The USS Canberra's sister ships, USS Jackson (LCS 6), USS Gabrielle Giffords (LCS 10), USS Manchester (LCS 14), and USS Mobile (LCS 26) are all currently on deployment in the Indo-Pacific.

LCS 30 will be the 16th commissioned Independence-variant LCS. It is the second ship named in honor of the city of Canberra, and commemorates the more than 100 years of mateship between the U.S. and Australian allies. The first USS Canberra (CA 70) was named in remembrance of the Australian heavy cruiser HMAS Canberra that sank during the Battle of Savo Island while fighting side-by-side with U.S. naval forces. CA 70 was the first U.S. Navy ship named for a foreign capital.

The first USS Canberra (CA 70) received seven battle stars for her service in World War II. In May 1958, Canberra served as the ceremonial flagship for the selection of the Unknown Serviceman of World War II and Korea. Canberra was decommissioned in a ceremony on Feb. 2, 1970, at the San Francisco Bay Naval Shipyard. One of her propellers is preserved at the Los Angeles Maritime Museum, while the ship's bell is on display at the Australian National Maritime Museum.

Media may direct queries to the Navy Office of Information at (703) 697-5342. More information on the Littoral Combat Ship Program can be found at: https://www.navy.mil/Resources/Fact-Files/Display-FactFiles/Article/2171607/littoral-combat-ship-class-lcs/ The ceremony will be live streamed at: https://www.dvidshub.net/webcast/32033. The link becomes active approximately ten minutes prior to the event at 10:00 a.m. AEST on Saturday, July 22 (8:00 p.m. EDT on Friday, July 21).

Link:
U.S. Navy to Commission Littoral Combat Ship Canberra in Australia - Department of Defense

Here’s how captive insurance can boost your bottom line and control … – Arizona Big Media

Weve all probably heard the phrase captive insurance.

But in case you think its to cover losses if you are taken hostage in a third-world country, captive insurance is actually when a company creates its own insurance company to provide coverage for its own risks. Instead of relying on traditional insurance companies, the company forms its own subsidiary to handle its insurance needs. This allows the company to have more control over its insurance costs, coverage, and claims. The captive insurer can also generate investment income from the premiums it collects. Its like creating an in-house insurance company tailored specifically to the needs of the parent company, providing greater financial flexibility and potential cost savings.

AZ BIG Podcast: Cathleen Walker of PNC talks captive insurance

To explain everything you need to know about captive insurance and how it may boost your bottom line, Az Business sat down with two experts, Cathleen Walker, regional president for Phoenix and Northern Arizona for PNC Bank and one of Az Business former Most Influential Women in Arizona and Anjanette Fowler, managing director of institutional and asset management for PNC Bank.

Az Business: What do business leaders need to know about captive insurance?

Anjanette Fowler: There are some complexities to it and certain considerations to think about before heading down this path. It is a regulated entity. But it is a risk financing tool that organizations from nonprofits to large publicly traded organizations and everything in between can utilize to help manage the cost of their risk, which has become a real challenge.

Cathleen Walker: Weve heard from many clients seeing 25% to 50% increases in their insurance premiums and in some cases not even able to get certain coverages.

AF:We are busier than weve ever been in helping clients connect the dots with how they can find some relief from the insurance premium pressures that theyre experiencing. Ive been helping companies invest the assets that accumulate in these captive structures for more than 25 years and this is probably the busiest Ive ever seen it when it relates to the cost of financing your risk.

AB: How tough is it for a company to set up captive insurance?

AF: I think most organizations might feel a little bit overwhelmed with the thought of starting an organization that is regulated. But its important to understand that these are useful tools and there are guardrails for you in the regulatory environment and its not overly burdensome. Its a very friendly regulator environment. It makes sure that whatever structure you put in place to create and and manage your risk, its done in a prudent fashion.

AB: How is captive insurance managed for a company?

AF:Its very rare that you would have your in-house personnel overseeing these organizations. You typically see it outsourced to specialists who report to stakeholders within the organization. The regulator really is a member of that team. Its not an adversarial type relationship.

CW:Can you talk a little bit more about the process and how you go about forming a captive if you dont have one?

AF: PNC prides itself on being a valued partner to our clients and prospective clients. While were not the lead quarterback of the captive insurance team that you put on the field, were involved and entrenched in the solution. We are knowledgeable as to how to go about fielding that team and making those connections. The player that youre going to draft for your team your quarterback is the captive manager. The responsibility of that organization is to do a cost-benefit analysis to determine the risk tolerance and decide if a captive self-insurance structure is going to pay off for you.

AB: Whos the ideal candidate to go to the captive structure?

AF:Weve seen some big changes in the last few years. COVID was a little bit of gasoline on the fire. When we think about risk management, we had a lot of business interruption, supply chain disruption. Folks thought they had coverage in the traditional commercial market, but found out when they read the fine print, there were lots of exclusions. So, the ideal candidate for captive insurance has changed tremendously. Were seeing smaller and smaller organizations, even nonprofits, being forced to go down this path. There are some rule-of-thumb metrics and other considerations. But if youre paying $1 million or more in annual premiums, captive insurance might be something you want to consider for your organization.

CW:What are some of the things driving the increased interest in captive insurance?

AF: Business interruption. COVID kind of pulled back the curtain on that. Supply chain disruption is another issue. What weve seen transpire, with hurricanes, wildfires, floods. Even if we didnt experience that loss directly, our premiums are impacted. But one of the things that were all seeing on both a personal level and on a business level is cyber risk. Its so huge right now. Its almost unquantifiable. A lot of experts in this space feel like cyber will eventually become much like a terrorism-risk-type coverage, where the government is going to have to come kind of form a backstop there. But thats one thats certainly driving a lot of the consideration. It wouldnt be the only risk you would put into a captive, but its one that we see go into captives a lot just because of the ransomware.

AB: Other than having more control over coverage, what are other benefits of going with captive insurance?

CW:One of the key benefits of captive insurance is youre paying the premium to yourself, so you can invest those assets and you have control over how youre investing those assets through your own investment policy and other risk tolerance applications.

AF: That is one of the great features of captives. It does give you greater control. When youre doing your budget as an organization, you want to be able to project costs. But when you or someone else has some sort of catastrophic event, it impacts your premiums and you see these spikes. Youre never able really to ever be able to effectively project what those costs are going to be. Utilizing a captive structure allows you to smooth those costs out and be able to project and control how those roll through and impact your parent company, and thats a great benefit.

AB: If business leaders want to learn more about captive insurance and how PNC can help them, how do they learn more?

CW: The best thing to do is to reach out via our website pnc.com/iam and we can get them in touch with the right folks within our organization. Its a very complex category of insurance and a lot of education and other resources are available to help walk people through that.

View original post here:
Here's how captive insurance can boost your bottom line and control ... - Arizona Big Media