captive insurance - Reinsurance Focus
captive insurance - Reinsurance Focus
captive insurance - Reinsurance Focus
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
American Conference Institute presents<br />
CAPTIVE<br />
INSURANCE<br />
Strategies for Effective Risk Management<br />
Risk Management Strategies<br />
from Industry Leaders:<br />
American International Group<br />
Aon Re<br />
Archer Daniels Midland<br />
Integris Health<br />
Marsh<br />
Milliman<br />
Munich Re America<br />
Tillinghast-Towers Perrin<br />
Verizon<br />
Willis<br />
<br />
<br />
<br />
<br />
<br />
<br />
September 26-27, 2007<br />
The Princeton Club New York, NY<br />
Evaluate your exposure and identify coverages that can<br />
be assumed by a <strong>captive</strong><br />
Understand the range of <strong>captive</strong>s available and the benefits<br />
offered by each<br />
Locate the most suitable domicile for your <strong>captive</strong><br />
Maximize your access to re<strong>insurance</strong> through fronting arrangements<br />
Select the right law firm, actuary, fronting company and <strong>captive</strong> manager<br />
Prepare to sell a plan that includes <strong>captive</strong>s to the management<br />
and Board<br />
Media Partners:<br />
Compare Benefits of Key Domiciles including Vermont,<br />
Bermuda, Delaware, Washington DC and others!<br />
Pre-Conference Primer for Industry Newcomers:<br />
Fundamentals of Captive Insurance<br />
September 26, 2007<br />
EARN<br />
CLE<br />
CREDITS<br />
REGISTER NOW<br />
888-224-2480 • AmericanConference.com/<strong>captive</strong>ins
Businesses are improving their risk management<br />
programs through the use of <strong>captive</strong>s – is it time to<br />
reevaluate your <strong>insurance</strong> coverage?<br />
Effective risk management requires a thorough understanding of all your <strong>insurance</strong> and<br />
re<strong>insurance</strong> options. One option that continues to grow in popularity is <strong>captive</strong> <strong>insurance</strong>.<br />
While forming a <strong>captive</strong> may have once been considered an exotic venture, a growing number<br />
of businesses have found that their risk exposure can be better managed with the use of <strong>captive</strong>s. And as<br />
more states realize the benefits of having <strong>captive</strong>s domiciled within their boundaries, risk managers are<br />
presented with an increasingly attractive – and confusing – array of options.<br />
ACI’s Strategic Guide to Captive Insurance will provide you with valuable guidance on the mechanics of<br />
forming a <strong>captive</strong> <strong>insurance</strong> company. Experienced industry leaders will provide you with expert<br />
strategies on:<br />
<br />
<br />
<br />
<br />
Determining whether a <strong>captive</strong> would be beneficial for your circumstances<br />
Identifying what coverages could best be assumed by a <strong>captive</strong><br />
Finding the most appropriate domicile for your situation<br />
Recognizing what you need from consultants and <strong>captive</strong> management<br />
In addition, a special Fundamentals of Captive Insurance workshop will provide you with a thorough<br />
understanding of the complex rules and regulations that govern this area of the law. Don’t miss the<br />
opportunity to expand your knowledge through this valuable pre-conference tutorial.<br />
Take this opportunity to get practical, “real life” strategies for dealing with a difficult area. The conference<br />
will fill quickly – register now by calling 1-888-224-2480, or by faxing your registration to 1-877-927-1563.<br />
You can also register online at www.AmericanConference.com/<strong>captive</strong><strong>insurance</strong>.<br />
We look forward to seeing you in New York City in September.<br />
Who You<br />
Will Meet<br />
• Risk Managers<br />
• CFOs<br />
• Captive management<br />
• Attorneys specializing in <strong>insurance</strong><br />
and re<strong>insurance</strong><br />
• Consultants and actuaries<br />
• Insurance and re<strong>insurance</strong> brokers<br />
REGISTER NOW<br />
888-224-2480 • fax: 877-927-1563 • AmericanConference.com/<strong>captive</strong>ins
Wednesday, September 26, 2007<br />
10:00 Conference Registration<br />
1:00 Conference Chairs’ Opening Remarks<br />
Phil Giovine<br />
Senior Vice President<br />
American International Group (New York, NY)<br />
P. Bruce Wright, Esq.<br />
Partner<br />
LeBoeuf, Lamb, Greene & MacRae LLP (New York, NY)<br />
1:15 Deternining Whether a Captive Will Further Your<br />
Financial and Risk Management Objectives<br />
Bill Wandel<br />
System Vice President, Risk Management<br />
Integris Health (Oklahoma City, OK)<br />
Thomas M. Hermes<br />
Managing Principal<br />
Tillinghast-Towers Perrin (Weatogue, CT)<br />
David Robertson<br />
Managing Director<br />
Willis (Atlanta, GA)<br />
• How to analyze and evaluate business considerations<br />
that may drive your decision:<br />
- cost and availability of commercial <strong>insurance</strong><br />
- desire and ability to retain risk<br />
- access to re<strong>insurance</strong> market<br />
- tax burden<br />
- control of claims process and overhead costs<br />
• Cost/benefit analysis of commercial <strong>insurance</strong> versus<br />
<strong>captive</strong> <strong>insurance</strong><br />
• Determining how coverage to place in a <strong>captive</strong><br />
2:45 Refreshment Break<br />
3:00 Identifying the Appropriate Captive Structure<br />
Arthur Koritzinsky<br />
Managing Director<br />
Marsh USA Inc. (New York, NY)<br />
• Advantages and disadvantages of:<br />
- pure <strong>captive</strong>s, including single-parent, branch and<br />
special purpose<br />
- group <strong>captive</strong>s, including association, industrial insured<br />
and risk retention groups<br />
- protected cell, separate account and sponsored <strong>captive</strong>s<br />
• Specific issues that may impact your choice of structure:<br />
- capitalization requirements<br />
- investment restrictions<br />
- limitations on types of <strong>insurance</strong> that can be written<br />
- tax objectives<br />
4:00 Feasibility and Funding: Establishing the<br />
Viability of Your Captive<br />
Joel Chansky<br />
Principal<br />
Milliman, Inc. (Wakefield, MA)<br />
Donald J. Riggin<br />
Practice Leader, Alternative Risk<br />
Albert Risk Management Consultants (Needham, MA)<br />
• What to expect from an actuarial feasibility study –<br />
and what records you will need to provide<br />
• Importance of loss history and prior commercial premiums<br />
• Beyond running the numbers: non-actuarial factors<br />
that can impact feasibility<br />
- legal and operational considerations<br />
- risk management strategy<br />
- long-term business objectives<br />
• Determining what lines of business would be appropriate<br />
for a <strong>captive</strong><br />
• Calculating initial capitalization amounts that meet<br />
regulatory requirements – and protect you from<br />
unexpected losses<br />
• Layering: what to fund in the <strong>captive</strong> versus the<br />
commercial market<br />
• Professionals to include in the decision making process<br />
5:00 Conference Adjourns for the Day<br />
Thursday, September 27, 2007<br />
8:30 Continental Breakfast Q<br />
9:00 Conference Chair Opening Remarks<br />
9:15 Domiciling a Captive: How to Choose<br />
the Appropriate Venue<br />
Dana Sheppard<br />
Associate Commissioner, Risk Finance Bureau<br />
Department of Insurance, Securities and Banking<br />
(Washington, DC)<br />
REGISTER NOW<br />
888-224-2480 • fax: 877-927-1563 • AmericanConference.com/<strong>captive</strong>ins
CAPTIVE INSURANCE<br />
Derick White<br />
Director of Captive Insurance<br />
Vermont Department of Banking, Insurance, Securities<br />
& Health Care Administration (Montpelier, VT)<br />
William P. White<br />
Captive Insurance Program Administrator<br />
Delaware Insurance Department (Wilmington, DE)<br />
Speaker To Be Announced<br />
Bermuda Monetary Authority (Hamilton, Bermuda)<br />
One of the most crucial steps in the process of setting up<br />
a <strong>captive</strong> is determining where it should be domiciled.<br />
The number of venues continues to increase and these<br />
domiciles are becoming more aggressive in their quest for<br />
<strong>captive</strong> <strong>insurance</strong> business. Why does your choice of venue<br />
make a difference? What considerations can really impact your<br />
business? This panel will feature representatives from leading<br />
domiciles, both within and outside of the United States.<br />
The moderator will engage them in a discussion addressing the<br />
factors you need to consider when selecting a domicile, including:<br />
• Regulatory and business climate<br />
• Existing infrastructure for <strong>captive</strong>s<br />
• Premium tax issues<br />
• Startup and operational costs<br />
• Industry-specific benefits<br />
10:30 Coffee Break Q<br />
10:45 Obtaining Re<strong>insurance</strong> Through the<br />
Use of Fronting Arrangements<br />
John E. Iannotti<br />
Executive Vice President<br />
American International Group, Inc. (New York, NY)<br />
• How and why fronting arrangements are being utilized<br />
to reinsure specific lines of business:<br />
- medical malpractice<br />
- construction defect<br />
- commercial automobile<br />
- professional liability<br />
- workers’ compensation<br />
- TRIA<br />
• Meeting collateral requirements<br />
• Current state of the market for fronting arrangements<br />
12:15 Networking Luncheon<br />
1:30 Onshore Versus Offshore: Tax Implications<br />
P. Bruce Wright, Esq.<br />
Partner<br />
LeBoeuf, Lamb, Greene & MacRae LLP (New York, NY)<br />
• Comparisons of onshore and offshore tax consequences<br />
• Deduction for premiums<br />
• State direct procurement taxes<br />
• Review of relevant regulatory and enforcement actions<br />
2:30 Refreshment Break<br />
2:45 Best Practices for Operating a Captive<br />
Michael Scott<br />
Manager of International Insurance<br />
Archer Daniels Midland Company (Decatur, IL)<br />
Sheila Small<br />
Assistant Treasurer – Risk Management and Insurance<br />
Verizon (Basking Ridge, NJ)<br />
• Essentials of running a successful <strong>captive</strong><br />
• Director responsibilities when the <strong>captive</strong> is underway<br />
• Ensuring your board meets reporting requirements<br />
• Supporting evidence that you are pursuing your stated<br />
business objective<br />
• Documenting the underwriting process<br />
• Establishing recordkeeping policies and procedures<br />
• Determining when to fund other coverages not funded<br />
at the time of startup<br />
3:45 Ask the Experts: Q&A on Current<br />
Strategies for Captives<br />
Phil Giovine<br />
Senior Vice President<br />
American International Group (New York, NY)<br />
Gregory Lang<br />
Director of Business Development<br />
Munich Re America (Princeton, NJ)<br />
Michael Scott<br />
Manager of International Insurance<br />
Archer Daniels Midland Company (Decatur, IL)<br />
Bill Wandel<br />
System Vice President, Risk Management<br />
Integris Health (Oklahoma City, OK)<br />
REGISTER NOW<br />
888-224-2480 • fax: 877-927-1563 • AmericanConference.com/<strong>captive</strong>ins
Strategies for Effective Risk Management<br />
Take advantage of this opportunity to interact with experienced<br />
risk managers, brokers, attorneys, and <strong>insurance</strong>/re<strong>insurance</strong><br />
professionals. They will discuss some of the latest trends in the<br />
<strong>captive</strong> <strong>insurance</strong> industry and will address other topics at your<br />
request. Among the issues raised will be:<br />
• How to sell your plan to use a <strong>captive</strong> to management<br />
and the Board<br />
• Who should handle supervision of the <strong>captive</strong> in<br />
your risk management group?<br />
• Placing employee benefit plans in <strong>captive</strong>s<br />
- ERISA v. non-ERISA<br />
- pension plans<br />
5:00 Conference Adjourns<br />
Wednesday, September 26, 2007<br />
9:00 a.m. – 12:00 p.m.<br />
(Registration opens at 8:30 a.m.)<br />
Workshop:<br />
Fundamentals of Captive Insurance<br />
Phil Giovine<br />
Senior Vice President<br />
American International Group (New York, NY)<br />
P. Bruce Wright, Esq.<br />
Partner<br />
LeBoeuf, Lamb, Greene & MacRae LLP (New York, NY)<br />
Single <strong>captive</strong>s, cell <strong>captive</strong>s, re<strong>insurance</strong> domiciles…Captive<br />
<strong>insurance</strong> can be extremely confusing to navigate – especially<br />
for risk managers, treasurers, CFOs and attorneys who are new<br />
to the area. In this special workshop you will get a firm grasp of<br />
the basic of <strong>captive</strong> <strong>insurance</strong> and be thoroughly prepared for<br />
the more advanced discussions to follow in the main conference.<br />
Topics will include:<br />
• How a <strong>captive</strong> operates and why it is utilized<br />
• What kinds of businesses are forming <strong>captive</strong>s<br />
• Types of <strong>insurance</strong> that are being placed into <strong>captive</strong>s<br />
• Different <strong>captive</strong> structures and what criteria will determine<br />
your choice of structure<br />
• Domiciles and what impact they have on your <strong>captive</strong><br />
• Role of the professionals involved in the creation and<br />
management of a <strong>captive</strong><br />
• Legal, regulatory and tax issues you need to be aware<br />
of before forming a <strong>captive</strong><br />
Continuing Legal Education Credits<br />
Accreditation will be sought in those jurisdictions requested<br />
by the registrants which have continuing education<br />
requirements. This transitional course is appropriate<br />
for both experienced and newly admitted attorneys.<br />
To request credit, please check the appropriate box on the<br />
Registration Form.<br />
ACI certifies that the activity has been approved for CLE credit<br />
by the New York State Continuing Legal Education Board in the<br />
amount of the 11.0 hours. An additional 3.5 hours will apply to<br />
workshop participation.<br />
ACI certifies that this activity has been approved for CLE credit by<br />
the State Bar of California in the amount of 9.5 hours. An additional<br />
3.0 hours will apply to workshop participation.<br />
Global Sponsorship Opportunities<br />
CLE<br />
CREDITS<br />
ACI, along with our sister organization based in London,<br />
C5 Conferences, works closely with sponsors in order to create<br />
the perfect business development solution catered exclusively to<br />
the needs of any practice group, business line or corporation.<br />
With over 350 conferences in the United States, Europe,<br />
the Commonwealth of Independent States (CIS) and China,<br />
ACI/C5 Conferences provides a diverse portfolio of first-class<br />
events tailored to the senior level executive spanning multiple<br />
industries and geographies.<br />
For more information about this program or our global portfolio<br />
of events, please contact:<br />
Benjamin Greenzweig<br />
Regional Sales Director,<br />
US, Europe, CIS and China,<br />
American Conference Institute/C5 Conferences<br />
(646) 520-2202 • bg@AmericanConference.com<br />
American Conference Institute:<br />
The leading networking and information resource for counsel and senior executives.<br />
Each year more than 21,000 in-house counsel, attorneys in<br />
private practice and other senior executives participate in ACI<br />
events – and the numbers keep growing.<br />
Guaranteed Value Based on Comprehensive Research<br />
ACI’s highly trained team of attorney-producers are<br />
dedicated, full-time, to developing the content and scope of<br />
our conferences based on comprehensive research with you and others<br />
facing similar challenges. We speak your language, ensuring that our<br />
programs provide strategic, cutting edge guidance on practical issues.<br />
Unparalleled Learning and Networking<br />
ACI understands that gaining perspectives from – and building relationships<br />
with – your fellow delegates during the breaks can be just as valuable as the<br />
structured conference sessions. ACI strives to make both the formal and<br />
informal aspects of your conference as productive as possible.<br />
© American Conference Institute, 2007<br />
REGISTER NOW<br />
888-224-2480 • fax: 877-927-1563 • AmericanConference.com/<strong>captive</strong>ins
American Conference Institute presents<br />
CAPTIVE<br />
INSURANCE<br />
Strategies for Effective Risk Management<br />
September 26-27, 2007<br />
New York, NY<br />
Pre-Conference Primer for<br />
Industry Newcomers:<br />
Fundamentals of Captive Insurance<br />
September 26, 2007<br />
PRIORITY SERVICE CODE:<br />
782I08.WEB<br />
REGISTRATION FORM<br />
ATTENTION MAILROOM: If undeliverable to addressee,<br />
please forward to: Risk Management Department, Insurance/Re<strong>insurance</strong> Practice Group<br />
5 Easy Ways to Register<br />
<br />
℡<br />
<br />
<br />
<br />
MAIL<br />
American<br />
Conference Institute<br />
41 West 25th Street<br />
New York, NY 10010<br />
PHONE 888-224-2480<br />
FAX 877-927-1563<br />
ONLINE<br />
AmericanConference.com/<strong>captive</strong>ins<br />
EMAIL<br />
CustomerCare<br />
@AmericanConference.com<br />
CONFERENCE CODE: 782I08-NYC<br />
YES! Please register the following delegate(s) for the<br />
THE STRATEGIC GUIDE TO CAPTIVE INSURANCE<br />
NAME ___________________________________________ POSITION _________________________<br />
APPROVING MANAGER ____________________________ POSITION _________________________<br />
ORGANIZATION _____________________________________________________________________<br />
ADDRESS __________________________________________________________________________<br />
CITY ____________________________ STATE ________________ ZIP CODE __________________<br />
TELEPHONE ________________________________ FAX ___________________________________<br />
EMAIL _________________________________TYPE OF BUSINESS __________________________<br />
I wish to receive CLE Credits in ______________________ (state)<br />
Register and Pay on or before July 15, 2007 — SAVE $200<br />
Conference Only $1695 $1895<br />
Conference and Workshop $2295 $2495<br />
<br />
<br />
<br />
I would like to add__copies of the conference materials on CD-ROM to my order - $299 each<br />
I cannot attend but would like information regarding conference publications<br />
Please send me information about related conferences<br />
PAYMENT<br />
Please charge my ❏ VISA ❏ MasterCard ❏ AMEX ❏ Please invoice me<br />
Number __________________________________________ Exp. Date _______________________<br />
Signature _________________________________________________________________________<br />
(for credit card authorization and opt-in marketing)<br />
❏ I have enclosed my check for $___________________ made payable to<br />
American Conference Institute (T.I.N.—98-0116207)<br />
After July 15<br />
PAYMENT MUST BE RECEIVED PRIOR TO THE CONFERENCE<br />
<br />
Hotel Information<br />
VENUE: The Princeton Club<br />
ADDRESS: 15 W 43rd St<br />
New York, NY 10036<br />
A limited number of rooms are available at a discounted rate.<br />
To make your hotel reservation please visit<br />
www.globalexec.com/aci. If you need assistance please call<br />
Global Executive on 800-516-4265 or email aci@globalexec.com.<br />
The hotel will not be able to make or change your reservation directly.<br />
Registration Fee<br />
The fee includes the conference, all program materials,<br />
continental breakfasts, lunches and refreshments.<br />
Cancellation and Refund Policy<br />
Substitution of participants is permissible without prior notification.<br />
If you are unable to find a substitute, please notify American<br />
Conference Institute (ACI) in writing up to 10 days prior to the<br />
conference date and a credit voucher will be issued to you for the<br />
full amount paid, redeemable against any other ACI conference.<br />
If you prefer, you may request a refund of fees paid less a 15%<br />
service charge. No credits or refunds will be given for<br />
cancellations received after 10 days prior to the conference date.<br />
ACI reserves the right to cancel any conference it deems necessary<br />
and will, in such event, make a full refund of any registration fee, but<br />
will not be responsible for airfare, hotel or other costs incurred by<br />
registrants. No liability is assumed by ACI for changes in program<br />
date, content, speakers or venue.<br />
Incorrect Mailing Information<br />
If you would like us to change any of your details please fax<br />
the label on this brochure to our Database Administrator at<br />
1-877-927-1563, or email data@AmericanConference.com.<br />
CONFERENCE PUBLICATIONS<br />
To reserve your copy or to receive a catalog<br />
of ACI titles go to www.aciresources.com<br />
or call 1-888-224-2480.<br />
SPECIAL DISCOUNT<br />
We offer special pricing for groups and government<br />
employees. Please email or call for details.<br />
Promotional Discounts May Not Be Combined. ACI<br />
offers financial scholarships for government employees,<br />
judges, law students, non-profit entities and others. For<br />
more information, please email or call customer care.