Conference Schedule

Monday, June 16, 2008

6:00 pm - 7:30 pm

Opening Cocktail Reception at Fairmont Southampton Ocean Club Terrace
Sponsored by The Bermuda Insurance Development Council
Tuesday, June 17, 2008

7:45 am - 8:45 am

Gardenia Room

Bermuda Captive Owners Association (BCOA) Breakfast and Annual General Meeting
Members & Prospective Members are invited

7:30 am - 8:45 am

Breakfast with Exhibitors

8:45 am - 9:15 am

Poinciana Room

Opening Remarks by The Premier of Bermuda, Dr. the Hon. Ewart F. Brown, JP, MP

9:15 am - 10:15 am

Poinciana Room

Current Issues and Regulatory Update
The panel will discuss how changes to the Insurance Act, Companies Act as well as the regulatory environment are evolving and how the changes impact Bermuda captives. You will hear from the Regulator as to what are the current areas of focus for captive regulation. This will be combined with insights from the industry on how this is working from a practical point of view.

     Moderator:
            Peter Willitts, President, Liberty Mutual Management & Bermuda Insurance Management Association

     Panelist(s):
            Shelby Weldon, Director, Insurance Compliance, Bermuda Monetary Authority
            Jason Carne, Partner, KPMG Bermuda
            David J Doyle, J.P., Partner, Conyers Dill & Pearman, Bermuda

10:15 am - 10:30 am

Coffee Break

10:30 am - 11:30 am

Poinciana Room

Hurricane Prediction - Art or Science
Is the past a good guide to the future considering a changing climate? Dr. Anthony Knap will focus on the realities of climate change and the effects of various cycles on our ability to predict. With the increased risk for higher sea levels and the current heightened hurricane activity period, coastlines are at risk more than ever today. However, even with this increased risk, builders have built and continue to build in these high-risk zones. Steve Drews will examine some of these instances and explain why disasters cost so much more today than in years past.

     Moderator:
            Philip Barnes, Managing Director, Aon Insurance Managers (Bermuda) Ltd.

     Panelist(s):
            Dr. Anthony H. Knap, President, Director and Senior Research Scientist, Bermuda Institute of Ocean Sciences (BIOS)
            Steve Drews, Associate Vice President and Lead Meteorologist, Aon Re, Inc. Chicago

11:30 am - 12:30 pm

Concurrent Sessions
Poinciana Room
Gardenia Room

Access to the reinsurance markets is a good reason to form a captive. Fact or Fiction?
This session will explore how valid this statement really is. Can the same capacity be accessed whether you have a captive or not? How much freedom of rate and form do you really have with a captive? If access to capacity is truly a reason for forming a captive why isn�t captive reinsurance a major line of business for Bermuda markets? Join the panel of brokers and underwriters for a lively debate.

     Moderator:
            Peter Mullen, Executive Vice President, Artex Risk Solutions Inc.

     Panelist(s):
            Julian Griffiths, Senior Underwriter, Imagine Group
            Matt Taylor, Senior Vice President, XL Financial Solutions Ltd
            Alan Waring, President, Crump International

Healthcare Track: Attributes of Excellence - Governance of Nonprofit Captive Insurance Companies
Sponsored by ASHRM

     Speaker(s):
            Ellen Barton JD, CPCU, Independent Health Care Risk Management Consultant and a principal of ERM Strategies, LLC.

12:30 pm - 2:00 pm

Mid Ocean Amphitheatre

Keynote Speaker & Lunch sponsored by Wells Fargo
Leadership on the Edge. One of the great explorers and adventurers in history, Robert Swan is the first man to walk to both the North and South Poles. With his presence and integrity, accomplishments and reflections, Robert Swan has an extraordinary ability to move people and motivate audiences. Robert’s talks are thrilling, uplifting and stimulating and they foster courage, vision and teamwork.

     Speaker(s):
            Robert Swan, Keynote Speaker

2:00 pm - 3:30 pm

Concurrent Sessions
Poinciana Room
Gardenia Room

Now you have a captive, what do you do?

  1. Overview of Bermuda Captive Market – BMA Review
  2. Ongoing Compliance
  3. Actuarial Report: What is BMA looking for?
  4. Real case study from our Risk Manager:
    • Now I have a captive, what do I do?
    • Challenges faced by Risk Manager
    • If I can start all over again, would I do it differently?

     Moderator:
            Khim Chia, Assistant Vice President, Marsh Captive Solutions

     Panelist(s):
            William Noonan, Vice President, Risk Management, Structure Tone, Inc.
            Gina Smith, Assistant Director, Actuarial Services, Bermuda Monetary Authority
            Traver Alexander, Research Officer, Bermuda Monetary Authority
            Brad Adderley, Partner, Appleby

2:00 pm - 2:45 pm Healthcare Track: Recent Legal and Regulatory Developments Affecting Healthcare Self-Insurance Programs
Sponsored by ASHRM

     Speaker(s):
            Thomas M. Jones PC, Partner, McDermott Will & Emery LLP

3:00pm - 3:45pm

Gardenia Room

Healthcare Track: Understanding the Insurance Cycle
Sponsored by ASHRM

     Speaker(s):
            John H. Mize, Consulting Actuary, Tillinghast

3:30 pm - 4:00 pm

Gardenia Room

Coffee Break

4:00 pm - 5:00 pm

Concurrent Sessions
Gardenia Room
Poinciana Room

Speed Dating with:

  • Butterfield Bank
  • The Bank of Bermuda Ltd, Member of HSBC Group
  • Barclays Global Investors
  • Credit Agricole Asset Management (UK) Ltd
  • Vanguard
  • Wellington Management


  •      Chair:
                Kate Robinson, Senior Vice President, Aon Insurance Managers (Bermuda) Ltd.

    4:00 pm - 5:00 pm Healthcare Track: Captive Funding - How do We Know If We Have Enough?
    Sponsored by ASHRM

         Speaker(s):
                Leigh B. Collier RHIA, MS, CPHRM, Chief Risk Officer, Baptist Health System, Inc.
                Tom Stewart JD, Vice President & General Counsel, Innovative Captive Strategies, Inc.

    5:00pm - 6:30 pm

    Cocktail Party with Exhibitors sponsored by KPMG and Marsh
    Wednesday, June 18, 2008

    8:00 am - 9:00 am

    Breakfast with Exhibitors

    9:00 am - 10:00 am

    Concurrent Sessions
    Poinciana Room
    Gardenia Room

    How effective risk management can enhance the performance of your captive
    Almost all companies actively manage their key risks at a corporate level, but what happens to those risks that are less critical to the sustainability of the corporation. These lower severity, perhaps higher frequency risks are those typically retained in captives. This session examines the value of actively managing these risks and explores some of the techniques and methods that have been used to successfully achieve a reduction in these types of losses.

         Speaker(s):
                Andrew Welch, Business Development Director, Green Road Technologies
                Scott Gemmell, Vice President, Marsh Captive Solutions

    Healthcare Track: Coverage Check-up - Assessing and Understanding Your Healthcare Captive’s Coverage
    Sponsored by ASHRM

         Speaker(s):
                John B. Mumford Jr. JD, Partner, Hancock, Daniel, Johnson & Nagle, PC

    10:00 am - 10:15 am

    Coffee Break

    10:15 am - 11:00 am

    Concurrent Sessions
    Poinciana Room
    Gardenia Room

    Cultivating your Captive
    Through case study examples this session will demonstrate how your captive can grow in size and sophistication in tandem with the changing needs of the corporate parent including how a single parent captive can effectively use the segregated accounts concept to maximize efficiencies in a global risk management program.

         Moderator:
                Kilian Whelan, President, JLT Insurance Management (Bermuda) Ltd

         Panelist(s):
                Ray Mattholie, Group Risk Management, Jardine Matheson Limited

    Healthcare Track: Is it Time for a Captive Insurance Company Audit?
    Sponsored by ASHRM

         Speaker(s):
                M. Michael Zuckerman JD, Senior V.P. & Director, National Healthcare Alternative Risk & Professional Development

    11:00 am - 11:15 am

    Break

    11:15 am - 12:00 pm

    Concurrent Sessions
    Poinciana Room
    Gardenia Room

    Life on the Rock - Life and Annuity Business in Bermuda
    Life insurance has been the silent but quietly active partner in the Bermuda insurance market. Learn about Triple X Surplus Relief, Longevity Risk Transfers, Variable Annuity Riders and full-blown Life Securitizations. This session will educate you on and further explore the nature of these transactions and the foreseeable trends in offshore life markets.

         Moderator:
                J. Oliver Heyliger, Managing Director, Willis Management (Bermuda) Limited

         Panelist(s):
                Michael N. Smith, Chief Executive Officer, Wilton Re Bermuda Limited
                Keith J. Ryan, Vice President and Chief Finance Officer, Lincoln Reinsurance Company of Bermuda Limited

    Healthcare Track: Controlling Our Destiny - The Life of a 25 Year Old Captive
    Sponsored by ASHRM

         Speaker(s):
                Laurence J. (L.J.) Fallon JD, Vice President & Chief Risk/Quality Officer, Carle Risk Management Company

    2:00 pm Tee-Off Time

    Golf Outing at Tucker’s Point sponsored by JLT
    Transport to pick up golfers from hotel lobby at 12:30 pm sharp
    Thursday, June 19, 2008

    8:00 am - 9:00 am

    Breakfast with Exhibitors

    9:00 am - 10:00 am

    Poinciana Room

    Tax Update

         Moderator:
                Richard E. Irvine, Partner, PricewaterhouseCooper Bermuda

         Panelist(s):
                P. Bruce Wright, Partner, Dewey & LeBoeuf LLP
                Mary Gillmarten, Partner, Deloitte & Touche

    10:00 am - 10:15 am

    Coffee Break

    10:15 am - 11:15 am

    Concurrent Sessions
    Poinciana Room
    Gardenia Room

    Subprime Crisis

         Moderator:
                William Thomas-Ferrand, Vice President, Marsh Captive Solutions

         Panelist(s):
                Christopher C. Rasmussen, Executive Director, Morgan Stanley
                Thomas Kelly, Director, Insurance Practice, KPMG
                Yvette Pierre, Principal, Policy, Research and Risk Assessment, Bermuda Monetary Authority
                Andrew M. Baron, Senior Portfolio Manager, Fixed Income, Butterfield Asset Management

    Healthcare Track: Risk Management Implications of “Never Events”
    Sponsored by ASHRM

         Speaker(s):
                Paula D. Sanders Esquire, Partner, Post & Schell, P.C.

    11:15 am - 11:30 am

    Break

    11:30 am - 12:30 pm

    Concurrent Sessions
    Poinciana Room
    Gardenia Room

    Comprehensive Cost of Risks
    This session will describe a process which enables Risk Managers to objectively identify the most efficient risk financing structure (premium, limit, retention) for any risk. Comprehensive Cost of Risk (CCoR) incorporates measurement of both expected loss and the cost of volatility. Factoring in an organization’s cost of capital into the analysis, optimizes capital allocation in the financing of a risk. Combined with other more qualitative sources of decision support, CCoR enables organizations to make informed decisions on which structure is most appropriate for their individual risks.

         Moderator:
                J. Oliver Heyliger, Managing Director, Willis Management (Bermuda) Limited

         Panelist(s):
                Steve Saporito CPCU, Managing Director, Willis Enterprise & Risk Finance Practice

    Healthcare Track: Category 5 Claims - Managing High Exposure Claims Against Healthcare Providers
    Sponsored by ASHRM

         Speaker(s):
                John B. Mumford Jr. JD, Partner, Hancock, Daniel, Johnson & Nagle, PC

    12:30 pm - 2:00 pm

    Lunch with Exhibitors

    2:00 pm - 3:00 pm

    Poinciana Room

    Actuarial Jeopardy
    This is Jeopardy! ... captive actuary style. Test your knowledge of the answers and the questions that matter to actuaries working on Bermuda captives. This entertaining session will provide understandable insights into how actuaries help captives make everyday business decisions. Topics may include issues such as fair value accounting, risk transfer, actuarial terms, and risk margins. Be prepared! Audience participation will be encouraged and prizes will be available.

         Speaker(s):
                Robert J. Walling, Principal & Consulting Actuary, Pinnacle Actuarial Resources, Inc.

    3:00 pm - 3:30 pm

    Coffee Break

    3:30 pm - 4:30 pm

    Poinciana Room

    Letters of Credit and Trusts - What One Needs to Know
    Session co-ordinated by Kate Robinson, SVP, Aon Insurance Managers (Bermuda) Ltd.

         Moderator:
                Xina Stewart, Vice President, Institutional Trust, Comerica

         Panelist(s):
                Colin Freeman, Manager, Offshore Financial Markets, Barclays Wealth Intermediaries and Corporates
                Simon Van de Weg, Vice President, Butterfield Bank
                Robert (Bob) Rich, Vice President, The Bank of New York Mellon
                Robert G. Quinn, Vice President, Wells Fargo Insurance Trust

    6:30 pm

    Gala Dinner at Fort Hamilton sponsored by Barclays
    Transport to pick up conference delegates from hotel lobby at 6:30 pm