The Future Is Now: Reinsurance in the Age of Superstorms, Cyber Loss and Other Emerging Risks
Fifth Annual Symposium
Date: October 3, 2013
Venue: Harvard Club (374 Commonwealth Avenue, Boston)
Registration and Continental Breakfast | 8:15 a.m. – 8:45 a.m.
Welcome | 9:00 a.m.
Michael Mullins, Symposium Chair
Day Pitney LLP
Keynote Address | 9:05 a.m. – 9:45 a.m.
Hon. Nancy Gertner (Ret.)
U.S. District Court Judge for the District of Mass. (1994 - 2011)
Judge Gertner is a highly respected jurist who authored many opinions concerning reinsurance, including her oft-cited decision in Commercial Union Ins. Co. v. Seven Provinces Ins. Co., Ltd. Judge Gertner will share insights into the reinsurance industry gleaned from her unique viewpoint as a former judge and current arbitrator.
Panel One | 9:50 a.m. – 11:00 a.m.
Today’s News, Tomorrow’s Claims: Challenges and Opportunities For Insurers
This Panel will identify and detail emerging risks that are in the headlines every day and present current challenges to insurers including: Climate Change; Supply Chain Risks; Cyber Liability And Terrorism; and, tomorrow’s risk, Nanotechnology. The Panelists will detail the exposures insurers face, the size of the market and describe the basic coverages and issues with respect to these emerging risks.
Sallie Kraus: Ernst & Young, Senior Consultant, Insurance & Actuarial Advisory Services
J. Gary Love: FM Global, Vice President, Operations Underwriting
Robert Whitney: Mass. Division of Insurance, Deputy Commissioner & General Counsel
Joseph Sano: Prince Lobel Tye LLP (Moderator / Panel Coordinator)
Break | 11:00 a.m. – 11:15 a.m.
Panel Two | 11:15 a.m. – 12:25 p.m.
Beyond the Headlines: Underwriting Emerging Risks
John Phillips: General Reinsurance Corporation, Senior Vice President
Tom Bredahl: Odyssey Reinsurance Company, Executive Vice President
Marnie Hunt: Aon Benfield, Senior Managing Director
John Harding: Morrison Mahoney LLP (Panel Coordinator)
This Panel will provide a "nuts and bolts" discussion of how new and emerging risks are being dealt with in the real world of reinsurance underwriting. Seasoned professionals will offer a frank discussion of how these risks are affecting the reinsurance placement process, including how purchasers and sellers of reinsurance go about analyzing the effect of existing wordings and the extent to which new wordings and approaches need to be developed to address risks that may not yet be clearly defined.
Luncheon Buffet | 12:25 p.m. – 1:30 p.m.
Interactive Workshop | 1:30 p.m. – 3:00 p.m.
William Erickson: Robins, Kaplan, Miller & Ciresi LLP (Workshop Coordinator)
Alexander Henlin: Edwards Wildman Palmer LLP (Workshop Coordinator)
Kristin Suga Heres: Zelle Hofmann Voelbel & Mason LLP (Workshop Coordinator)
Jessica Park: Sugarman, Rogers, Barshak & Cohen P.C. (Workshop Coordinator)
As in years past, the interactive workshop will kick off our afternoon session. Our coordinators will explore the different approaches and roles played by insureds, cedents, brokers, and reinsurers in the development and placement of reinsurance for emerging risks – and what happens when a claim that features those emerging risks becomes a reality. Our discussion will feature both a general session and small-group deliberation, and aims to impart a practical understanding of the issues developed during our morning program.
Panel Three | 3:00 p.m. – 4:00 p.m.
Adjudicating Uncertainty: An Inside Look at Panel Deliberations
Susan Grondine-Dauwer: SEG-D Consulting, LLC
Andrew Maneval: Chesham Consulting LLC
Anthony Vidovich: The Hartford, Senior Vice President & Associate General Counsel
This Panel of experienced reinsurance arbitrators will address a dispute arising out of damage caused by a named storm to a low-lying coastal region, and the potential implications to a wide array of coverages including cover for supply chain, cyber, and climate change risk. Parties to the (hypothetical) dispute will present brief arguments drawn from the interactive workshop, and the Panel will provide a “behind the curtain” view of deliberations in the context of these emerging risks.
Closing Remarks | 4:00 p.m. – 4:10 p.m.
John Harding: MReBA President, Morrison Mahoney LLP
Michael Mullins: Symposium Chair, Day Pitney LLP
Cocktail Reception | 4:10 p.m. – 6:15 p.m.
2013 MReBA Symposium Committee
Rachel Davison: Morrison Mahoney LLP
William Erickson: Robins, Kaplan, Miller & Ciresi LLP
John Harding: Morrison Mahoney LLP
Alexander Henlin: Edwards Wildman Palmer LLP
Kristin Suga Heres: Zelle Hofmann Voelbel & Mason LLP
John Love: Robins, Kaplan, Miller & Ciresi LLP
Michael Mullins: Day Pitney LLP (Chair)
Jessica Park: Sugarman, Rogers, Barshak & Cohen P.C.
Joseph Sano: Prince Lobel Tye LLP