Regulatory threats - fact or fiction?
This session will include a detailed discussion on the current political and regulatory climate in the new Obama Administration and focus on current threats faced by Bermuda other offshore captive domiciles from international regulators and Government agencies. The current economic market and its impact on our businesses, are top of mind. These turbulent times challenges our thinking in the risk management arena and how it impacts operating costs. This session will also outline opportunities to manage costs effectively and provide true return on investment.

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

     Panelist(s):
            Bridget Gainer, Director of Government Affairs, Aon Corporation, Chicago
            Christopher Iovino CSP, ARM, Managing Director, Aon Global Risk Consulting

eTechnology and Privacy: The New Frontier of Opportunity and Liability

Sponsored by ASHRM

Captive 201
Once the captive is up and running, the real work starts. Understand the pitfalls – and how to side-step them – in the necessary decision-making for a new captive insurer. Often decisions made early in the life of a new captive dictate its future course of direction. Learn how to keep your new captive on track to achieve the intended goals and maximize its potential.

The Bermuda Monetary Authority will provide a first look at 2008 Bermuda captive market statistics, profiled by class of captive insurer. The analysis, inclusive of recent trends, will outline key financial data and performance indicators, including balance sheet size and composition, premiums by geographic origin of risk and main lines of business, retention rates and ratios.

     Moderator:
            Kathleen Bibbings, EVP, Aon Insurance Managers (Bermuda) Ltd

     Panelist(s):
            Craig Melnick, Manager, Eaton Corporation
            Traver Alexander, Research Officer, Policy, Research and Risk Assessment Department, Bermuda Monetary Authority
            Robert Paton, EVP, Aon Insurance Managers (Bermuda) Ltd.

Introducing ERM within a Physician Captive: Transformational Guidelines for Success

Sponsored by ASHRM

Economic Impact to Captives and Insurance Market
Ian Morris brings insight to the financial world around you as a highly-credentialed economic “prophet” for HSBC. The bank’s Chief US Economist predicted the recent US housing bust more than three years ago in a special study. He also anticipated the 2001 recession. Leading HSBC’s North American economic research team, Mr. Morris has examined data valuations that allow him to bring a clearer understanding to delegates of the world we live in, and the world tomorrow.

     Speaker(s):
            Ian Morris, Managing Director Chief US Economist, HSBC

Captivating Medical Tourism - Understanding & Underwriting the Risks

Sponsored by ASHRM

Location, Location....RE-location? Is your captive in the best domicile?
Captive domicile selection is often based on long-standing myth, rather than analytical consideration. In other cases, the original domicile may not be the best option. This session will focus on a case study of a major US healthcare institution who recently re-domiciled its Hawaii captive to Bermuda. The original decision making process will be explained as well as the mechanical discontinuance and continuance processes in the respective domiciles.

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

     Panelist(s):
            Leslie Robinson, Assistant Director, Insurance Licensing & Authorisation, Bermuda Monetary Authority
            Jeffrey Driver, Executive Vice President & Chief Risk Officer, Stanford University Medical Center
            Susan Lane, Vice President - Business Development, Aon Insurance Managers (Bermuda) Ltd.

Demystifying CMS Nonpayment Strategies and Mandatory Insurer Reporting Requirements

Sponsored by ASHRM

Understanding and Dealing with the Subprime Crisis
The collapse of the subprime mortgage industry has led to the biggest global economic crisis since the Great Depression. The crisis has exposed the weaknesses in a range of investment vehicles in which the underlying assets were pooled, securitized debt obligations and other structured financial instruments. Even sophisticated investors have learned to their dismay that many of these other, supposedly “safe” investment vehicles can, in fact produce complex and poorly understood valuation, risk and volatility issues. A wide range of institutions have found themselves in the position of victim, potential target and sometimes both. Government regulators, investors, class action plaintiff lawyers and others are sorting through potential targets and legal theories, issuing subpoenas and commencing litigation. This panel will provide a review and analysis of the types of claims being asserted, their frequency and severity, and the impact thereof on various lines of coverage. The panel will also discuss considerations for Captive and risk managers in light of unique claims and market conditions, including the issues that should be kept in mind when selecting which programs to place in a captive and how effectively to deal with reinsurers in the hardening market cycle.

     Moderator:
            Katie Tornari, Marshall Diel & Myers, Hamilton, Bermuda

     Panelist(s):
            Andrew M. Baron CFA, Senior Portfolio Manager, Fixed Income, Butterfield Asset Management Limited
            Will Thomas-Ferrand, Senior Vice President, Marsh Management Services (Bermuda) Ltd.
            John Hughes, Partner, Edwards Angell Palmer & Dodge LLP
            Tom Kelly, Partner, Insurance, KPMG Bermuda

Impact of Compliance Issues on Risk Financing
Sponsored by ASHRM

Many captive insurance companies are formed in response, among other things, to rising physician’s professional liability costs and increasing settlement amounts and verdicts. A number of hospital-sponsored programs also have been formed with physicians who intend to leave the community or drop services because of a perceived cost “crisis”. Hospital-sponsored captive insurers can take a number of approaches to alleviate the situation, and try to provide the needed medical services particularly obstetrical care at an acceptable cost. They are:

• Employ physicians;
• Recruit new physicians
• Subsidize physicians’ medical malpractice payments

Whose Captive Is It Anyway? Surviving and Thriving Captive Ownership
Many captives contract with a TPA for the day to day management of their program. It is our belief that for a captive to successfully grow and thrive, there needs to be direct involvement in the total management of the claims, oversight of the underwriting process for new insured’s and new programs in the captive, and close ties to loss prevention with the claim function. This session is intended to present how Premier Health Partners, a four hospital health system, transitioned from three separate hospital owned captives and a commercial carrier into a segregated account company (SAC) with four cells. We will discuss some practical operational issues such as day to day claims management, loss prevention, and adding new insured’s to the captive. We will also discuss our interactions with the actuary, the auditors, our broker and our Bermuda manager. We will review the risk management competencies and resources necessary to successfully manage a captive program.

     Moderator:
            Neil Horner, Senior Counsel, Head of Corporate, ATTRIDE-STIRLING & WOLONIECKI

     Panelist(s):
            Erin Eldridge RN, BS, MBA, Manager of Insurance and Claim Support, Premier Health Partners
            Mary Gutman RN, MS, CPHRM, DFASHRM, Director of Risk Management and Insurance, Premier Health Partners
            Scott Gemmell, Senior Vice President, Marsh Management Services (Bermuda) Ltd

Tax Update
This session will address recent IRS guidance on federal excise taxes and cell/rent-a-captive taxation, as well as recurring issues raised in IRS captive audits including brother/sister risk distribution requirements, unrelated risk generators, homogeneity by line of business and business risks vs. insurance risks.

     Speaker(s):
            Catherine Sheridan-Moore, Tax Partner, KPMG Bermuda
            Thomas M. Jones PC, Partner, McDermott Will & Emery LLP

Viewing Your Actuary as a Strategic Business Partner

Risk Management Perspective: Difference between “Give me the numbers and make sure they’re low” vs “What are the numbers telling you about our business?”

Broker Perspective: Difference between “Just give me the loss pick” and “How can we best optimize our client’s total cost of risk?”

What is the Actuary’s perspective?

Recent Developments and Issues on SAC and Rent-a-Captive
A panel of experts will be addressing the issues that surround segregated cells and rent-a-captives. Accounting, legal, tax and regulatory issues will all be covered. The session is going to assume the audience has a basic understanding of these topics and the session is designed to expand on recent developments and areas of concern. The format will be a mixture questions and answers from the audience as well as preplanned discussions.

     Moderator:
            Andy McComb, President & CEO, CTC Allegro Insurance & Risk Management Ltd

     Panelist(s):
            Brad Adderley, Partner, Appleby
            Jonathan Reiss, Partner, Ernst and Young (Bermuda)
            Richard E. Irvine, Tax Partner, PricewaterhouseCoopers (Bermuda)

Insurance Regulation - Where Is It Going?
This panel will discuss future trends, insurance regulations and how it will impact the captive sector.

     Moderator:
            Richard Lightowler, Partner, KPMG Bermuda

     Panelist(s):
            Shelby Weldon, Director, Insurance Licensing and Authorisation, Bermuda Monetary Authority
            Charles G.R. Collis, Partner, Conyers Dill & Pearman
            Guy Soussan, Partner, Steptoe & Johnson LLP

Rocket Science for Risk Managers

More and more Risk Managers are facing the question of ‘why do we buy what we buy in insurance?’ To effectively answer this question, Risk Managers need more detailed quantitative analysis in several areas of risk management. This session will focus on the use of quantitative processes and tools to support a variety of risk management practices. These may include:

• Setting the right risk appetite for the company
• Valuing the impact of risks on the organization
• Making the optimal risk financing decisions, such as setting the right limits and retentions, and the best uses of captives

Participants will gain an understanding of practical applications of existing analysis such as claims reserve, as well as additional uses to maximize the value they deliver to their organizations. We will also discuss how quantitative analysis supports risk management score-carding and performance improvements.

As a true risk center, the captive can have greater impact and direction over the risk mitigation and risk control strategies available. This session will also outline several significant pre and post loss strategies that align well with the captive environment that have proven to be successful - sharing of case studies and financial impact through.

• Risk Diagnostic
• Risk Mitigation
• Performance Analysis

Captive Accounting Issues
This highly interactive session will discuss all matters accounting impacting Bermuda Captives, focusing not only on US GAAP, but also Bermuda statutory accounting and IFRS. The panel make up is representative of the accounting, auditing and regulatory aspects of these issues. Questions and audience interaction is encouraged!

     Moderator:
            Philip Burrill, Partner, Ernst & Young Ltd.

     Panelist(s):
            Craig Swan, Director of Policy, Research and Risk Assessment Unit, Bermuda Monetary Authority
            Tony Grainger, Senior Vice President, Marsh Management Services (Bermuda) Ltd
            Garry Richardson, Senior Manager, Ernst & Young Ltd.

Investing - a Challenge in a Credit Crisis
Do you have that sinking feeling every time you look at your investment portfolio? With such unprecedented times, what has one done and what will one do with their investments? Hear how investment managers from different disciples have coped so far and what they are planning for the future.

• Aviva Investors
• Butterfield Asset Management
• Credit Agricole Asset Management (CAAM)
• HSBC Global Asset Management
• PRP Performa
• P-Solve Asset Solutions
• Vanguard

Energize Your Captive: Create Significant Value Through Capital Management
Your captive has the ability to become an integral part of your company’s capital management strategy. This session explores how it’s possible to enhance your captive’s value far beyond initial expectations. Learn a new application for your captive that can result in real profits without adding 3rd party business.

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

     Panelist(s):
            Mark Saltsgaver, Director of Corporate Risk Management, Eli Lilly and Company
            Donald J. Riggin CPCU, ARM, Practice Leader-Risk Financing, Albert Risk Management Consultants

The US ART Market in the Current Economic Environment
This session will discuss the U.S. Alternative Markets marketplace in the current economic and insurance environment. The current economic environment is having a significant impact on many companies, which is impacting their risk management and insurance decisions. In addition, the insurance marketplace is going through changes which are impacting the Alternative Markets space. This session will discuss these two topics and also discuss the overall state of the marketplace.

     Moderator:
            Gavin Collery, President and COO, Alternative Re Limited

     Panelist(s):
            Stephen D Standing CPCU, ARe, ARM, Vice President, Kirkway International Limited
            Rich Stock, Senior Vice President - Alternative Markets, Arch Insurance Group