D&O Liability Insurance - C5

“The C5 D&O conference is “the place to be” ….For sure, one 

of the events of the year that cannot be missed ” 

Guillaume Deschamps, Senior Vice President, FINPRO Deputy Director, 

Continental Europe, D&O Practice Leader, Marsh (Delegate, 2011) 

Buy-side insights from a 

cross-industry selection of client 

speakers. Plus a limited number of 

complimentary seats for insurance 

buyers and risk managers 

Business Information 

In A Global Context 

21st Forum on 

D&O Liability 

Insurance 

Latest Underwriting, Claims and Coverage Strategies for Minimising Risk, 

Growing Your Business and Meeting Insurance Buyers’ Needs 

27 – 28 March 2012 | Grange Tower Bridge Hotel, London, UK 

Hear from Insurance industry experts, including: 

Zurich General Insurance 

Chartis 

Beazley Group 

Munich Re 

Swiss Re 

Zurich Financial Services 

ACE European Group 

ACE Bermuda 

QBE 

XL Insurance Company 

Aviva plc 

PLUS! Buy-side perspectives from: 

Julian Callow 

Managing Director/Head of 

International Economics and 

Co-Head of European Economics, 

Barclays Capital 

John Windsor 

Head of Insurance, 

Marks & Spencer 

Lars Gaute Østebø 

Head of Captive and 

Corporate Insurance, 

Corporate Risk Management, 

Statoil ASA 

Marsh FINPRO 

FINEX, Willis 

Aon 

Oakbridge Insurance Services 

Hartford Financial Products 

International 

AXIS Specialty London 

Travelers Insurance Company 

Aon Global Insurance Brokers 

India (Pvt) Limited 

Marsh Insurance Brokers ZAO 

Matthew McEwan 

Director, Risk Management, 

Coca Cola Enterprises 

Didier Vidal 

Corporate Risk Manager, 

Alcatel Lucent 

Established amongst industry professionals as the premier 

D&O Liability Insurance event in the European calendar, 

the 2012 London edition is your opportunity to extend your 

mastery on: 

• European Sovereign Debt: How can insurers maintain profitability 

during the crisis 

• The latest claims and notifications developments across the UK, 

Europe, Australia and Canada: adjust your policy structures to 

reflect looming threats 

• How to optimise coverage of D&O criminal and regulatory 

investigations claims: the 3 things you need to watch for 

• How are leading insurers meeting the challenge of covering fines, 

penalties and defence costs 

• Reviewing your US exposures in the face of new threats: how to 

factor in the Dodd Frank Act, FCIA enforcement actions and 

how other key developments across the pond 

• How can D&Os and their insurers safeguard against the rising tide 

of European class actions 

• How to capitalise on emerging D&O opportunities and overcome 

challenges when doing business in China, S.Korea, India, Brazil 

and Russia 

EARLY-RISER WORKSHOP 

No need to take extra time out of the office! 

The Most Contentious D&O Insurance Issues in 2011 and How 

They Should be Reflected in Your Insurance Policy Structures 

and Wording in 2012 and Beyond 

Associate Sponsor 

Media Partners 

Up to 

14.25CPD 

To register call +44 (0) 20 7878 6888 or register online at www.C5-Online.com/xxxxxxxxxxxxxx 

To register call +44 (0) 20 7878 6888 or register online at www.C5-Online.com/Directors

“Previously thought a luxury of large companies, D&O liability insurance in Europe is primed 

for robust growth across companies of all sizes, as it is increasingly viewed as essential ” 

(Advisen Report, 2011) 

The combined effect of the 2008 global recession and current economic pressures have ensured that Directors and Officers 

remain a focal point for both regulatory and shareholder scrutiny. With European Courts proving ever more receptive to group 

actions and increasingly proactive enforcement authorities stepping up investigations in a number of spheres including securities, 

anti-corruption and anti-trust, D&Os are more exposed than ever and may incur considerable costs in defending themselves, 

even when they feel the allegations are unfounded. 

It is therefore critical that D&O insurers anticipate the challenges looming on the horizon and take immediate mitigatory steps 

to avoid potentially extensive losses. At the same time, there are profits to be made - the insurance industry must exploit the 

opportunity to meet growing and emerging coverage needs across a number of jurisdictions and carve out an edge for themselves 

in today’s highly competitive market. 

Every Spring, over 100 underwriters and brokers, together with expert advisors, attend C5’s D&O Liability Insurance event in 

London. Now in its 21st edition, this conference is firmly established as THE essential industry gathering for anyone working 

in D&O insurance. 

Like hundreds of D&O professionals before you, attending this conference will ensure you are: 

❯ Up to the minute on D&O insurance industry developments in the UK, US, Europe and beyond, as well 

as macro-economic and legal issues affecting D&O insurance 

❯ Equipped to exploit the latest trends and statistics and market best practices for maximising profits 

❯ Geared to capitalise on growth opportunities in emerging markets 

❯ On top of claims trends world over whilst adapting your policies and client procedures to minimise exposures 

❯ Ahead of the game by benchmarking your practices and policies against your competitors 

Be sure to also attend the practically focused and interactive early-riser workshop. 

The Most Contentious D&O Insurance Issues in 2011 and How They Should be 

Reflected in Your Insurance Policy Structures and Wording in 2012 and Beyond 

28th March 2012 | 8.00–10.15 a.m 

There is no other event in Europe that focuses exclusively on D&O Liability Insurance. So don’t miss this unparalleled opportunity 

to meet, hear from and share ideas with those at the forefront of your industry. 

Book your place today, by calling us on +44 (0) 20 7878 6888, faxing your registration form to +44 (0) 20 7878 6885 or 

registering online at www.C5-Online.com/Directors 

WHO SHOULD ATTEND 

C5’s 21st D&O Liability Insurance is a must for: 

• D&O Insurance Underwriters 

• Brokers 

• Claims Personnel 

• Reinsurers 

• Product Leaders 

• Insurance buyers, risk managers, compliance personnel 

and in-house lawyers 

• Insurance/reinsurance lawyers in private practice 

GLOBAL SPONSORSHIP OPPORTUNITIES 

C5 Group, works closely with sponsors to create the perfect business 

development solution catered exclusively to the needs of any practice 

group, business line or corporation. With over 500 conferences held 

in Europe, Russia and the CIS, China, India, the US and Canada, C5, 

ACI and CI provide a diverse portfolio of first-class events tailored to 

the senior level executive. 

For more information about this program or our global portfolio, 

please contact: Dan Capel on +44 (0)20 7878 6870 

or email d.capel@C5-Online.com

Distinguished Speakers 

Conference Co-Chairs 

Chris Magee 

Managing Director, Hartford Financial Products 

International Limited 

Glaucia Asvolinsque D. de Faria Smithson 

Chief Underwriting Officer, 

Commercial Executive Risks Europe 


Julian Callow 

Managing Director/Head of International 

Economics and Co-Head of 

European Economics, 


John Windsor 

Head of Insurance, 

Marks & Spencer 


Head of Captive and Corporate Insurance, 

Corporate Risk Management, 

Statoil ASA 

Matthew McEwan 

Director, Risk Management, 


Didier Vidal 

Corporate Risk Manager, 

Alcatel Lucent 

Kevin LaCroix 

Partner, 

Oakbridge Insurance Services 

Stephanie P Manson 

Claims Advocate, 

UK FSG Legal & Claims Practice 

Agenda at a glance 

Francis Keane 

Executive Director FINEX, 

Willis 

Christoph Leuzinger 

Global Deputy Chief Underwriter, 

Management Liability, 


Mark Baily 

Head of Financial Lines Claims, 

Ace European Group 

Michael Rieger-Goroncy 

International Large Risks, 

Underwriter, Specialty Lines, 

Beazley Group 

Elisabeth Spann 

Head of Financial Lines, Global Clients/ 

North America, 

Casualty Facultative, Munich Re 

Marcel Fischer 

Senior Underwriter, Facultative Casualty/ 

Vice President - Europe, Middle East & Africa, 

Swiss Reinsurance Company Ltd 

Geraud Verhille 

European Commercial D&O and 

Crime Manager, Chartis 

Nepomuk Loesti 

European Financial Institutions, 

Underwriting Manager, Chartis 

Suresh Ellawala 

Professional & Financial Lines, QBE 

Cristiana Báez-Safa 

Chief Underwriting Officer 

Commercial Risks, International Professional 

XL Insurance Company Limited 

Guillaume Deschamps 

FINPRO CEMEA D&O Practice Leader, 

Marsh S.A., Continental Europe, 

D&O Practice Leader, Marsh 

Dax Gulmohamed 

Executive Vice President, 


Nick Allen 

Management Liability Product Manager, 

Travelers Insurance Company Limited 

Carsten Keune 

Chief Underwriting Officer Professional 

Emerging Markets 

XL Insurance Company Ltd 

Uttara Viad 

COO & Executive Director, 

Aon Global Insurance Brokers (Pvt) Limited 

Vladimir Kryuchkov 

Senior Vice President, Finpro Practice Leader, 

Marsh Insurance Brokers ZAO 

David Gutteridge 

Vice President, 

ACE Bermuda 

Matthew Doherty 

Underwriting Manager, 

Arch Insurance Europe 

John Batch 

Senior Vice President, D&O Product Leader, 

FINPRO CEMEA 

Douglas Robare 

Head of Financial and Professional Lines, Aviva plc 

Conference Day One: 27 March 2012 

8.30 Registration and Coffee 

9.00 Chairman’s Opening Remarks 

9.15 How to Find Profits in a Challenging D&O Insurance 

Market: Your Guide to the Next 12 Months 

10.30 Morning Refreshments 

10.45 European Sovereign Debt: How Can D&O Insurers 

Maintain Profitability During the Crisis 

Part 1 – Macroeconomic analysis 

Part 2 – D&O insurance analysis 

12.15 What is the Potential for Claims Arising From Action 

Against D&Os Under Anti-Corruption Legislation in 

the UK, US and Beyond 

1.00 Networking Lunch 

2.00 Claims Flowing from Criminal and Regulatory Investigations 

and Coverage of Fines, Penalties and Defence Costs: 

Experience to Date, What to Cover and What to Exclude 

3.00 Afternoon Refreshments 

3.15 Ensuring Your Policies Can Withstand the Latest US D&O 

Legislative, Case Law and Enforcement Developments 

4.00 UK and European D&O Claims, Settlements, Class Actions 

and Other Litigation: How to Factor the Latest Developments 

into Your D&O Insurance Strategy 

Part 1 – Claims update 

Part 2 – European class actions and other litigation 

Part 3 – Australia, Canada and other D&O Claims hotspots 

5.30 Conference Adjourns 

Conference Day Two: 28 March 2012 

8.00 Early Riser Workshop: The Most Contentious D&O 

Insurance Issues in 2011 and How They Should be Reflected 

in Your Insurance Policy Structures and Wording in 2012 

and Beyond 


10.15 Workshop Ends 

10.20 Chairman’s Opening Remarks 

10.30 What Current Exposures Are Keeping D&Os and Risk 

Managers Awake at Night and What Solutions Are Being 

Sought by Their Insurance Buyers 

11.30 The Key Policy Amendments and Coverage Issues You 

Need to Be Aware of to Provide Profitable Coverage in a 

Turbulent Market 


1.30 How to Take Advantage of D&O Opportunities in Emerging 

Markets: China, India, Brazil and Russia 


3.45 How to prepare for a Potential Rise in Corporate Insolvency 

– and What That Means for Your Business 

4.45 Reinsurance Market Leaders’ Perspective on Current Market 

Conditions and Strategies for Risk Minimisation 

5.30 Chairman’s Closing Remarks and End of Conference 

Very practical and up to date information, as usual 

Remi Passemard, Partner, 

Bouckaert Ormen Passemard Sportes (Delegate, 2011) 

To register call +44 (0) 20 7878 6888 OR fax +44 (0) 20 7878 6885

DAY 1, TUESDAY, 27 MARCH 2012 

8.30 Registration and Coffee 

9.00 Conference Co-Chair’s Opening Remarks 

Chris Magee, Managing Director, 

Hartford Financial Products International Limited 

9.15 How to Find Profits in a Challenging D&O 

Insurance Market: Your Guide to the Next 

12 Months 

Christoph Leuzinger, Global Deputy Chief Underwriter, 

Management Liability, Zurich General Insurance 

Geraud Verhille, European Commercial D&O and 

Crime Manager, Chartis 

Mark Baily, Head of Financial Lines Claims, 

Ace European Group 

Michael Rieger-Goroncy, International Large Risks 

Underwriter, Specialty Lines, Beazley Group 

Enrico Nanni, Managing Director, Aon 

• What are the macro trends affecting the D&O market 

• Where are the main global exposures 

• How much D&O capacity is there in the market currently 

What changes are expected in the coming 12 months 

• What are the main areas of growth Where are insurers 

seeing opportunities to get an edge over competitors 

- to what extent is there a market for transactional liability 

products, given mergers are expected to increase 

- where has D&O cover been deemed mandatory 

or prescribed as best practice 

• What emerging risks must the market factor in 

- to what extent are D&Os likely to be targets for losses 

stemming from the sovereign debt crisis 

- losses caused by rogue traders at banks: what are 

shareholders doing by way of taking against officers 

responsible 

- how has the market reacted to such emerging risks 

and what migratory steps are being taken right now 

• Pricing trends: are rates reflective of risks 

• Overview of recent D&O purchasing: what products are 

clients buying and where does Excess cover come in 

• How much broader will or should coverage become What 

are the implications of ever-broadening of primary coverage 

• New products and extensions 

• Availability of reinsurance and terms 

• Opportunities for profit, loss drivers and D&O insurance 

developments in SMEs, large accounts and financial 

institutions 

- claim trends 

- claims from privately held vs listed companies 

- pricing developments 

- P&L dynamics 

- acquisition and transactions costs 

- innovation 

• What factors are most important to brokers when deciding 

which insures to work with 

- pricing 

- coverage 

- ratings 

- financial security 

- new products capacity 

- internal resources, including for claims handling 


10.45 European Sovereign Debt: How Can D&O 

Insurers Maintain Profitability During the Crisis 

Part 1 – Macroeconomic analysis 

Julian Callow, Managing Director/Head of International 

Economics and Co-Head of European Economics, 


• How is the 2008 economic crisis different from the 

current situation 

• How is economic growth being impaired How are 

on-going economic conditions impacting on business 

• Who is most significantly impacted by sovereign debt 

exposure and what is the wider impact 

• To what extent do entities exposed to sovereign debt 

also have US exposure 

• Outlook for the coming 12-18 months 

Part 2 – Impact on D&O insurance 

Geraud Verhille, European Commercial D&O 

and Crime Manager, Chartis 

Nepomuk Loesti, European Financial Institutions 

Underwriting, Manager, Chartis 

• Impact on the financial institutions D&O 

- what were the main insurance implications of the 2008 

vs current crisis What is different today 

- how does the performance of insurance products in 

2008 compare with their current response to economic 

conditions 

- varying impact for banks, assets managers, insurance 

companies and other players 

- claims experience so far and potential claims scenarios 

• Impact on the commercial companies D&O 

- most impacted industry sectors from an insurance 

perspective 

- recession related claims scenarios and experience 

• US exposure for both financial institutions and 

commercial products/lines in 2008 vs projected exposures 

in the coming months 

• Assessing likely impact on insurers’ profitability 

12.15 What is the Potential for Claims Arising From 

Actions Against D&Os Under Anti-Corruption 

Legislation in the UK, US and Beyond 

Vivian Robinson QC, Partner, McGuireWoods London 

LLP/Formerly General Counsel, the Serious Fraud 

Office (SFO), 

Suresh Ellawala, Professional & Financial Lines, QBE 

• Recent prosecutions and enforcement priorities under 

the FCPA 

• The UK Bribery Act in practice: early complaints, 

investigations and prosecutions 

• Understanding the full scope of the law: what offences 

by D&Os will qualify for scrutiny under key bribery/anticorruption 

legislation and as interpreted by the relevant 

authorities 

• Ascertaining the full territorial reach of the acts beyond 

the US and UK: when will your clients in other 

jurisdictions be impacted and how 

• 8 out of 10 largest recent FCPA fines are related to UK 

or European companies: how is this reflected in D&O 

claims 

• What provisions should insurers insist on to limit their 

own exposures viz. the individual D&Os/the business 

entity What questions must insurers ask their insureds 



2.00 Claims Flowing from Criminal and Regulatory 

Investigations and Coverage of Fines, Penalties 

and Defence Costs: Experience to Date, What to 

Cover and What to Exclude 

Cristiana Báez-Safa, Chief Underwriting Officer 

Commercial Risks, International Professional 

XL Insurance Company Limited 

Guillaume Deschamps, FINPRO CEMEA D&O 

Practice Leader, Marsh S.A., Continental Europe 

D&O Practice Leader, Marsh 

Dr Alexander Mahnke, CEO Insurance, 

Siemens Financial Services, GmbH 

• In which areas are investigations against D&Os especially 

prevalent and which authorities are the most proactive 

- securities exposures 

- competition authorities 

- anti-corruption 

- money laundering 

• How are investigation costs normally covered 

- formal regulatory investigations vs internal investigations 

- cover for civil fines and penalties 

- sub-limited cover 

• Current views on coverage for fines and penalties–Legally 

permissible/not permissible 

- UK and US approach 

- varying approaches in different European countries 

• Defence costs: what costs are considered ”reasonable” 

Which standard prevails: “necessary”/“required” 

• Challenges in providing effective cover and insurance 

industry responses 

- expanding current D&O policy to include it 

vs developing dedicated policies 

- implications for shared limits/sub-limits 

- practical experience so far 

• Recent examples of claims and policy responses 


3.15 Ensuring Your Policies Can Withstand the 

Latest US D&O Legislative, Case Law and 

Enforcement Developments 

Kevin LaCroix, Partner, Oakbridge Insurance Services 

• Impact of the Morrison decision on securities litigation 

Involving non-U.S. companies 

• What was the rationale for even broader coverage seen 

in the past 12 months 

• D&O implications flowing from the implementation 

of the Dodd Frank Act 

• The impact of the new whistle-blower provisions: to what 

extent is this expected to result in a rise in shareholder 

litigation 

• Rise in SEC and other investigation claims and insurance 

coverage by the US market 

• What implications flow for D&Os from the rising tide 

of FCIA enforcement actions against banks 

• Increase in M&A related litigation: frequency, severity 

and coverage Implications 

• Emerging and future exposures 

4.00 UK and European D&O Claims, Settlements, 

Class Actions and Other Litigation: How to 

Factor the Latest Developments into Your D&O 

Insurance Strategy 

Part 1 - Claims update 

Stephanie P Manson, Claims Advocate, 

UK FSG Legal & Claims Practice 

• Round up of key claims and notifications in the past 

12-18 months 

- nature and basis 

- how did the claims arise 

- amounts involved 

- how did the policy respond/what aspects didn’t and why 

- what were the insurance buyer’s expectations 

• What types of D&O behaviours have commonly led 

to common claims 

• Threatened claims from the previous recession 

- how many threatened financial crisis claims have come 

to fruition 

- what is the rationale behind the relatively low proportion 

of recession claims to date in the UK and Europe 

- why did cases such as the Northern Rock scenario 

not result in the expected claims 

- can insurers feasibly expect this trend to be replicated 

in a further recession 

• What is the true potential for lenders’ claims as a second 

recession looms and what are the early claims indications 

Part 2- Litigation update 

Hans Londonck Sluijk, Partner, Houthoff Buruma 

• In which areas are D&Os most vulnerable going forward 

• Cases of note in Europe and potential implications 

for D&O insurers 

• European class actions: one-off or trend 

- Dutch group action system – cases so far and impact 

on D&Os 

- Italian Intersa Sao Paulo case: on what basis was this 

class action approved and what is the likely impact on 

D&Os of the bank 

- what are the wider implications of these decisions for 

European class actions 

- how can developments in the Netherlands and Italy be 

expected to drive demand for insurance cover amongst 

D&Os 

- to what have recent French decisions thwarted the 

potential for class actions against D&Os in France 

Part 3 - Australia, Canada and other D&O claims hotspots 

Suresh Ellawala, Professional & Financial Lines, QBE 

• Class actions/securities class actions 

• Litigation funding trends and correlation with class action 

trends 

• Canadian dual traded companies: why are they so 

vulnerable to litigation 

• Other types of litigation against D&Os 

• The regulatory environment 

• The oppression remedy; what is it, and what does it mean 

for boards of directors 

5.30 Conference Adjourns 

Associate Sponsor 

Holman Fenwick Willan is a leading insurance 

and reinsurance law firm. HFW advises on 

all the types of protection available under 

management liability policies including Directors and Officers liability 

(“D&O”), Employment Practices Liability (“EPL”) Corporate Legal 

liability insurances and Pension Trustees liability insurance (“PTL”). 

HFW advise on coverage issues and defend insureds against third party 

liabilities. HFW also advise on wordings and new products including the 

definition and scope of terms and exclusions. We can also draw on our 

Regulatory and Employment teams on related issues, where necessary. 

Fax order form to +44 (0) 20 7878 6885 or register online at www.C5-Online.com/Directors

Day 2, WEDNESDAY, 28 March 2012 

Early Riser Workshop | 8.00 – 10.15 am 

The Most Contentious D&O Insurance Issues in 

2011 and How They Should be Reflected in Your 

Insurance Policy Structures and Wording in 2012 

and Beyond 

Douglas Robare 

Head of Financial and Professional Lines, Aviva Plc 

Costas Frangeskides 

Partner, Holman Fenwick Willan 

Led by a seasoned industry insider and an experienced legal expert, 

this workshop will draw on some of the most contentious and complex 

D&O issues encountered by the workshop presenters. With reference 

to case studies and examples which regularly arise in the D&O arena 

and common wording scenarios, the workshop leaders will analyse the 

significant coverage considerations each of those issues raise and guide 

participants on how these considerations should be refl ected in policy 

structures and wordings in the coming months. Topics for dicussion include: 

• Does your D&O insurance provide global cover What 

programme structures allow for optimal coverage 

• Do directors want their own ring-fenced insurance cover that 

will not be eroded by the companies’ claims Why would they 

need that and how do you achieve that 

• Insuring clauses: what is the scope of the insurance offered 

Does it cover all those risks you want it to cover 

• Current and emerging exclusion: how do these limit the cover 

Is it too limited What issues have recently arisen 

• Presumption of Indemnity: what are the consequences if a 

company wrongly refuses to indemnify a director How can 

they be prevented 

• What issues can develop from outside directorship extensions 

to the policies 

There will be plenty of Q&A opportunities and participants may also 

raise any specific questions they have for the workshop leaders ahead 

of the conference, via the conference organisers 

Main Conference 


10.20 Conference Co-Chair’s Opening Remarks 





10.30 What Current Exposures Are Keeping D&Os 

and Risk Managers Awake at Night and What 

Solutions are Being Sought by Their Insurance 

Buyers 

John Windsor, Head of Insurance, Marks & Spencer 


Head of Captive and Corporate Insurance, Corporate 

Risk Management, Statoil ASA 

Didier Vidal, Corporate Risk Manager, Alcatel Lucent 

Matthew McEwan, Risk Management Director, 


Douglas Robare, Head of Financial and Professional 

Lines, Aviva plc - moderator 

• What risks and exposures are currently on company 

secretaries’/risk managers’ radar 

- what legislative changes are being monitored 

- what directors’ duties are being highlighted by 

shareholders currently 

• How have exposures changed in the past 6-12 months 

• How do risk managers assess their exposure to sovereign 

debt, what is the projected impact and what is being done 

to address adverse implications 

• What primary risk management measures are in place to 

address such risks 

• What are the cutting edge strategies corporate boards 

and risk managers have in place to protect their D&Os 

from liability 

• Who decides on insurance coverage needs 

• What are the drivers for purchasing cover 

• International programmes 

- is there a rise in demand for international programmes 

amongst risk managers 

- what adjustments would buyers suggest to improve the 

process of implementing a multi-national programme 

- are there any challenges in this area that the insurance 

industry has not addressed 

• Risk exposures anticipated for the future and emerging 

gaps in coverage 

11.30 The Key Policy Amendments and Coverage 

Issues You Need to Be Aware of to Provide 

Profitable Coverage in a Turbulent Market 

Graham Denny, Solicitor, Holman Fenwick Willan 

Francis Keane, Executive Director FINEX, Willis 

Dax Gulmohamed, Executive Vice President, 


Nick Allen, Management Liability Product Manager, 

Travelers Insurance Company Limited 

• Overview and analysis of key coverage issues arising in 2011 

• How are D&O underwriters addressing potential losses 

arising from current economic conditions 

- what adjustments are being make to policy wordings 

- what exclusionary language is being used Will 

underwriters introduce exclusions akin to the 

“deliberate corporate acts” and Ponzi scheme exclusions 

added during the previous crisis 

- will these changes result in changes to the actual 

coverage offered 

- are price buffers being built in 

• How will existing standard wordings respond to new 

pressures in the current climate Which provisions are 

particularly vulnerable or inadequate 

• To what extent are risks stemming from broadening cover 

being redressed through wordings 

• Broker specific products: how do new wordings used in 

products by Willis, Marsh, JLT etc. differ from traditional 

products 


1.30 How to Take Advantage of D&O Opportunities 

in Emerging Markets: China, India, Brazil and 

Russia 

Carsten Keune 

Chief Underwriting Officer Professional Emerging Markets 

XL Insurance Company Ltd 






E m e r g i n g M a r k e t s F o c u s 

Uttara Viad, COO & Executive Director, 

Aon Global Insurance Brokers (Pvt) Limited (India) 

Vladimir Kryuchkov, Senior Vice President, 

Finpro Practice Leader, 

Marsh Insurance Brokers ZAO (Russia) 

Ed Smerdon, Partner, Sedgwick LLP – moderator 

Expert speakers with country specific experience in the markets 

covered will guide you through the main opportunities, risks and 

challenges in each jurisdiction. They will also cover questions every 

insurer looking to enter or consolidate their presence in these 

jurisdictions should ask their insurds, red fl ags to watch out for, 

common mistakes made by underwriters, mitigatory action you can 

take and share their lessons learned. 

• Overview of market conditions 

• What are the theoretical exposures for directors 

- are there any recent developments or trends in actual 

cases brought 

- how long do cases take to reach court 

• Update on recent claims and emerging trends 

• What are the drivers for future civil claims against directors 

- claims culture 

- procedural issues 

- commercial imperatives 

- funding/loser pays rules 

• What is the criminal investigations/regulatory environment 

affecting directors 

- what are the most common offences 

- is fraud/insider dealing/bribery a significant issue 

• Beyond the territorial limits, how are local companies 

being targeted in other jurisdictions 

- where are they being targeted 

- what for 

- by whom 

• What is the position on indemnification by companies 

- is it permitted 

- if so, how 

- are there specific rules governing it 

• What is the regulatory environment for insuring local 

based risks 

- do insurers need to be admitted 

- what methods do foreign insurers use to enable them 

to write local risks 

• What does the locally issued D&O product look like 

What are the developments, trends and issues in the product 

• Reinsurance market conditions 

• What are the recent laws or developments affecting 

the local insurance industry 

• What are the particular underwriting issues facing insurers 

of local based companies 

• Are there any other cultural or legal factors insurers from 

outside should take into account when doing business there 


3.45 How to prepare for a Potential Rise in 

Corporate Insolvency – and What That 

Means for Your Business 

David Gutteridge, Vice President, ACE Bermuda 

Matthew Doherty, Underwriting Manager, 

Arch Insurance Europe 

John Batch, Senior Vice President, 

D&O Product Leader, FINPRO CEMEA 

• Trends in insolvency across UK, the US and Continental 

Europe – when can we expect the predicated tide to hit and 

how What types of litigation can we expect in its wake 

• Liability of directors in bankruptcy situations and when 

the company is entering the zone of insolvency 

• Differences in liability in different European states 

and insurance implications that follow 

• How do policy exclusions such as “insured vs insured” 

work in insolvency 

• What are the current gaps in coverage 

• Link up between the principal policy, Side A and Run off 

policies in insolvency situations: overlaps and potential gaps 

• Impact on Side A market 

- to what extent has there been an increase in the purchase 

of Side A cover in response to rising bankruptcies 

- how can Side A products be differentiated in terms of 

how they are likely to respond to emerging demands 

- how would the cost of Side A products be impacted 

and how will deductibles be treated 

4.45 Reinsurance Market Leaders’ Perspective on 

Current Market Conditions and Strategies 

for Risk Minimisation 

Elisabeth Spann, Head of Financial Lines, 

Global Clients/North America, Casualty Facultative, 

Munich Re 

Marcel Fischer, Senior Underwriter Facultative 

Casualty/Vice President -Europe, Middle East 

& Africa, Swiss Reinsurance Company Ltd 

• How do reinsurers view their participation in this market 

to date and what changes do they anticipate in the 

coming months 

• How do reinsurers view their exposure in this arena and how 

do they calculate their risks in current market conditions 

• Reinsurance industry response to decreasing prices/increase 

in capacity 

• Reinsurance claims: what coverage issues have arisen and 

how are reinsurers approaching claims handling Are claims 

increasing 

• What are reinsurers doing to prepare for the next wave 

of claims 

• Reinsurance in emerging markets: how do reinsurers 

ensure there is no mismatch when local wordings are used 

- using local insurer/s 

- working through a global programmes 

5.30 Chairman’s Closing Remarks 

and End of Conference 

“ 

Very good presentations, great opportunity for networking 

Thomas Lange, Underwriter, Financial Lines, Munich Re (Delegate, 2011) 

I found it very useful for my day-to-day business, (to) keep up to date on new hot topics in the market, issues of 

concern that I can communicate to clients and work together with them to find a solution which best suits their needs 

Lot Goris, Client Advisor, Aon (Delegate, 2011) 

Fax order form to +44 (0) 20 7878 6885 or register online at www.C5-Online.com/Directors 

Interesting to pick up issues in the field of D&O, looking at the topic from a client perspective 

Gunnel Lagerstedt, Manager Casualty Business, Skanska (Delegate, 2011) 

©C5, 2011

21st Forum on 

D&O Liability Insurance 

Latest Underwriting, Claims and Coverage Strategies for Minimising Risk, Growing Your Business 

and Meeting Insurance Buyers’ Needs 

Business Information 

In A Global Context 

Priority Service Code 

672I12.E 

FEE PER DELEGATE Register & Pay by 28 February, 2012 Register & Pay after 28 February, 2012 

ELITEPASS*: Conference & Workshop £1998 £2098 

Conference Only £1499 £1599 

DELEGATE DETAILS 

NAME 

TEAM DISCOUNTS: Booking 3 or more delegates Call +44 (0) 20 7878 6888 for details 

PLEASE ADD VAT TO ALL ORDERS 

*ELITEPASS is recommended for maximum learning and networking value. 

POSITION 

5 EASY WAYS TO REGISTER 

 

℡ 

 

 

 

WEBSITE: www.C5-Online.com/Directors 

REGISTRATIONS & ENQUIRIES 

+44 20 7878 6888 

EMAIL: registrations@C5-Online.com 

FAX: +44 20 7878 6885 

PLEASE RETURN TO 

C5, Customer Service 

6th Floor, Trans-World House, 100 City Road 

London EC1Y 2BP, UK 

ADMINISTRATIVE DETAILS 

Date: 27 – 28 March, 2012 

Time: 8.30 – 5.30 

Venue: Grange Tower Bridge Hotel, London 

Address: 45 Prescot Street, London, E1 8GP, United Kingdom 

Telephone: +44 (0)20 7959 5000 

APPROVING MANAGER 

ORGANIZATION 

ADDRESS 

POSITION 

An allocation of bedrooms is being held for delegates at a negotiated rate until 

24 February 2012. To book your accommodation please call Venue Search on tel: 

+44 (0) 20 8541 5656 or e-mail beds@venuesearch.co.uk. Please note, lower 

rates may be available when booking via the internet or direct with the hotel, 

but different cancellation policies will apply. 

CITY 

POSTCODE 

PHONE 

EMAIL 

TYPE OF BUSINESS 

FOR MULTIPLE DELEGATE BOOKINGS PLEASE COPY THIS FORM 

PAYMENT DETAILS 

BY CREDIT CARD 

Please charge my ○ AMEX ○ VISA ○ MasterCard 

NUMBER 

CARDHOLDER 

BY CHEQUE 

I have enclosed a cheque for £ ___________ made payable to C5 

BY BANK TRANSFER 

C5 Communications Limited 

Account Name: C5 Communications Limited 

Bank Name: HSBC BANK Plc 

Bank Address: 31 Chequer Street, St Albans Herts AL1 3YN, UK 

Bank Branch: St Albans Branch 

BIC ( Bank Identifier Code ): MIDLGB22 

GBP Account (VAT num: 913 0992 30) 

IBAN: GB41 MID L 4040 0182 1816 22 

Sort Code: 40-40-01 

COUNTRY 

EXP. DATE 

If you wish to pay in Euros€ or USD$ please contact Customer Service 

FAX 

Event Code: 672I12-LON 

DOCUMENTATION IS PROVIDED 

The documentation provided at the event will be available via web link. If you 

are not able to attend, you can purchase a link to the presentations provided 

to delegates on the day of the event. Please send us this completed booking 

form together with payment of £350 per copy requested. For further information 

please call +44 (0) 207 878 6888 or email enquiries@C5-Online.com. 

CONTINUING EDUCATION 

12 hours (conference only) plus 2.25 hours per master class towards Continuing 

Professional Developments hours (Solicitors Regulation Authority). Please contact 

C5 for further information on claiming your CPD points. 

PAYMENT POLICY 

Payment is due in full upon your registration. Full payment must be received 

prior to the event otherwise entry will be denied. All discounts will be applied to 

the Main Conference Only fee (excluding add-ons), cannot be combined with any 

other offer, and must be paid in full at time of order. Group discounts available to 

individuals employed by the same organisation. 

TERMS AND CONDITIONS 

You must notify us by email at least 48 hours in advance if you wish to send 

a substitute participant. Delegates may not “share” a pass between multiple 

attendees without prior authorization. If you are unable to find a substitute, 

please notify C5 in writing no later than 10 days prior to the conference date 

and a credit voucher will be issued to you for the full amount paid, redeemable 

against any other C5 conference. If you prefer, you may request a refund of 

fees paid less a 25% service charge. No credits or refunds will be given for 

cancellations received after 10 days prior to the conference date. C5 reserves 

the right to cancel any conference for any reason and will not be responsible for 

airfare, hotel or any other costs incurred by attendees. No liability is assumed by 

C5 for changes in programme date, content, speakers or venue. 

INCORRECT MAILING INFORMATION 

If you receive a duplicate mailing of this brochure or would like us to change 

any of your details, please email data@C5-Online.com or fax the label on 

this brochure to +44 (0) 20 7878 6887. To view our privacy policy go to 

www.C5-Online.com/privacy_policy_statement.

D&O Liability Insurance - C5

Create successful ePaper yourself

Delete template?

Save as template?