The MRIMS Fall Conference 

 

47th Fall Educational Conference

“A Changing America – Changing Risks”

9:30 – 10:00 AM

REGISTRATION

10:00 – 11:15 AM

HOT TOPICS FOR GLOBAL CAPTVE PROGRAMS

Speaker:          Sean B. Rider, Executive Vice President, Willis Watson Towers

Companies are finding increasingly sophisticated ways to use captives across different geographies and regulatory regimes.  As these organization continue to evolve, and their captives mature, it is important to periodically reassess captive strategy to see whether changes are necessary to deliver maximum value.  There are a number of emerging issues and trends worthy of note:

• capital optimization through the accumulation of non-correlated risks;
• accessing a broadening marketplace for ART solutions; and
• assessing and managing new compliance priorities.

The presentation will provide highlights on each of these topics, delivering to attendees a sense of the possibilities and urgency to optimally deploy their captive in the context of these factors.

The presentation will explain the following:

• What are the benefits of periodic captive re-evaluation and captive optimization studies?

1. Necessary adjustments for positive or negative experience;
2. Improved financial efficiency – surplus release or additions, optimized re-insurance;
3. Enhanced protection – i.e. opportunities to add new exposures (e.g. Cyber Liability).

• What is the process for Captive Review and Optimization?

1. Reconfirmation of Goals/ Objectives;
2. Detailed program analysis and stress testing – during this phase the captive’s performance metrics are analyzed against industry benchmarks:

• actuarial loss forecasting;
• retention analysis;
• reserve assessments;
• exposure modelling;
• premium allocations.

1. Strategic Review – facilitated decision-making process to help ensure optimization of capital and key regulatory and compliance considerations including:

• assessment of compliance consideration – for example BEPS analysis;
• new product development;
• uninsured risk reviews and additional line of business analysis;
• assessment of fronting programs;
• evaluation of investment strategies and collateral structure.

1. Implementation Stage:

• develop implementation plans for recommended actions;
• establish benchmarks for future performance.

1. A new world of possibilities – accessing a broadening marketplace for new program structures and innovative solutions.
2. Q&A

11:15 - 12:30 AM

EMERGING LEGAL ISSUES IN RISK MANAGEMENT

Speaker:          Marshall Gillinsky, Esq., Shareholder Anderson Kill

The presentation will explain the following:

1. Forfeiture of coverage under Directors & Officers and Professional Liability Policies:

• Your Liability Insurance (CGL, D&O, Coverage Towers):
• Settlement;
• Example
• Traditional Rule – Zeig v. Mass Bonding & Ins. Co.;
• Applying Traditional Rule;
• Getting Around Traditional Rule
• Cases;
• The New Landscape.

1. Anti-concurrent Causation Clauses;

• Proximate Cause and the General Rule

1. Developments in Product Liability Insurance;

• Incorporation Doctrine;
• Products Completed Operations Hazard;
• Key Exclusions;
• Recent Significant Cases.

1. Q&A

12:30 - 1:15 PM

LUNCH

Speaker:          Karen Valanzano, Sr VP, Federal Government Affairs at Chubb will present

“What to Expect from Washington”  

1:15 - 2:30 PM

CYBER LIABILITY

Speaker:          Stephen Quintana, Sr. Broker, Aon Professional Risk Solutions

 

The presentation will explain the following:

1. Evolution of Cyber Liability Exposures
   1. Changing Technology Landscape:
      1. Automation;
      2. Connectivity.
      3. Common Attacks:
         1. Phishing/ Spear Phishing / Whaling;
         2. W-2 Phishing Schemes;
         3. Social Engineering;
         4. Ransomware.
2. Claim Trends and Impact:
   1. Frequent Claims/ Incidents;
   2. Potential Coverage Under Traditional Lines of Coverage;
   3. Impact on the Insurance Marketplace.
3. State of the Cyber Liability Insurance Marketplace:
   1. Significant Competition;
   2. Expanding Coverages;
   3. Concerns About Aggregation (Contingent Business Interruption, Contingent System Failure);
   4. Competitive Pricing;
   5. Underwriting Considerations – Comprehending diverse risk profiles.
4. Best Practices in Network Security:
   1. Ownership and Accountability.

2:30 – 2:45 PM

BREAK

2:45 – 4:00 PM

MARIJUANA LEGALIZATION AND THE IMPACT ON THE WORKPLACE

 Speakers:         James Wilson, Sr. Risk Engineering Consultant, Zurich

Ryan Smith, Trial Attorney, Zurich

Henry Batcher III, Chief Trial Attorney, Zurich

 The presentation will explain the following:

• Background on the Marijuana Legalization Landscape in the U.S.  – R. Smith – Legal Perspective

1. Closer Focus on Massachusetts Specifically;
2. Initiatives to legalize both medical and recreational use of marijuana over the last decade and how to navigate through various issues:
   1. Voter Referendum vs. FDA Approval;
   2. State by State, Crossing Borders;
   3. Federal Laws vs. State Laws.

• Today’s Marijuana – J. Wilson – Perspective

1. Potency;
2. Types, Formats;
3. Distribution:
   1. Dispensaries
   2. Grow Labs.

• Concerns Impacting the Workplace, Considerations on How to Mitigate Around those Risk -  R. Smith – Legal Perspective, J. Wilson – Perspective

1. The differing state and federal landscape and its impact on workplace safety;
2. Issues related to a Zero Tolerance Policy;
3. Issues related to treating marijuana like other DEA scheduled medications;
4. Workplace implications, including OSHA and drug testing;
5. Zero Tolerance vs. Impairment.

4:00 – 5:00 PM

CHANGING DEMOGRAPHICS

 Speaker:          Cindy Slubowski, Head of Manufacturing, Zurich North America

 The presentation will explain the following:

1. Recent Trends with today’s workforce and the workforce of the future.
2. Emerging technologies and the co-existence of humans:
   1. AI (Artificial Intelligence) – successfully integrating into the workforce and how AI works in conjunction with human labor, complimenting vs. replacing workforce;
   2. Robotics – changing skillsets in manufacturing, healthcare and technology.
   3. Skills Mismatch
      1. Aging and retiring population, lack of workforce to backfill, skills mismatch;
      2. Technological advancements require additional training, skillsets.
      3. Case Studies – Population changes, decreased/changing workforce, finding skill based labor challenges.
         1. Construction Initiative in Junior High Schools for future Recruitment/ Education;
         2. Insurance Case Study – Zurich Apprenticeship Program for Underwriting Skills.

5:00 – 6:00 PM

COCKTAIL RECEPTION AND NETWORKING

 

Register Now!