D&O Liability Insurance - C5

More documents

Recommendations

Info

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 10.00 Morning Refreshments 10.20 Conference Co-Chair’s Opening Remarks Glaucia Asvolinsque D. de Faria Smithson Chief Underwriting Officer, Commercial Executive Risks Europe Zurich General Insurance 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 Lars Gaute Østebø Head of Captive and Corporate Insurance, Corporate Risk Management, Statoil ASA Didier Vidal, Corporate Risk Manager, Alcatel Lucent Matthew McEwan, Risk Management Director, Coca Cola Enterprises 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, AXIS Specialty London 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 12.15 Networking Lunch 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 Glaucia Asvolinsque D. de Faria Smithson Chief Underwriting Officer, Commercial Executive Risks Europe Zurich General Insurance To register call +44 (0) 20 7878 6888 OR fax +44 (0) 20 7878 6885
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 3.30 Afternoon Refreshments 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
Page 1 and 2: “The C5 D&O conference is “the
Page 3 and 4: Distinguished Speakers Conference C
Page 5: 2.00 Claims Flowing from Criminal a

D&O Liability Insurance - C5

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?