2011 Conference Schedule

Registration Desk opens

Golf Tournament at Port Royal Golf Course - Home of The PGA Grand Slam of Golf and Sponsored by: Performa

Transport to pick up golfers from hotel lobby at 11.30 am

Opening Cocktail Reception at Fairmont Southampton Ocean Club Terrace

Sponsored by: The Ministry of Business Development & Tourism

Breakfast with Exhibitors

Sponsored by Qatar Financial Centre Authority

Introductory Remarks: by Chairman of the Bermuda Captive Conference - Jill Husbands

Opening Remarks by The Hon. Paula A. Cox, JP, MP Premier and Minister of Finance

Round Table Session

Setting the scene: Bermuda’s Premier, a U.S. Diplomat, a leading Bermuda insurer and the Island’s top regulator pitch-in on a discussion that explores the economies of the US and Bermuda, the important political and financial relationships that exist between the two countries and the evolving future of financial and insurance regulation in a word shaped by new realities.

Moderator:

• Thomas R. McMahon, President, Bermuda Insurance Management Association (BIMA)

Panelist(s):

• The Hon. Paula A. Cox, JP, MP, Premier and Minister of Finance
• Grace W. Shelton, U.S. Consul General
• G. Rees Fletcher, President & Chief Executive Officer ACE Bermuda
• Jeremy Cox, Chief Executive Officer, Bermuda Monetary Authority

Networking Break

Sponsored by Strategic Risk Solutions (Bermuda) Limited

Sailing a Safe Harbour: Regulatory Update

The insurance regulatory landscape in Bermuda is dynamic as the chief regulator, the Bermuda Monetary Authority, is focused on ensuring that Bermuda´s risk based regulations meet or exceed international standards. Key areas are the Insurance Code of Conduct, changes to Accounting Standards and classification of Long Term Insurers. This session will bring clarity and insight to these areas.

Moderator:

• Brad Adderley, Partner, Appleby

Panelist(s):

• Richard Lightowler, Partner, KPMG Bermuda
• Leslie Robinson, Assistant Director, Insurance Licensing & Authorisation, Bermuda Monetary Authority

Key Note Speaker Luncheon Sponsored by Wells Fargo

Tales from a hit author and world traveller who has been to 100 countries. His stories will drop jaws and raise eye-brows. (Limited seating to 250).

Speaker(s):

• Doug Lansky, National Geographic´s Award-Winning Author and Travel Expert

Full Steam Ahead: Clearing the Horizon

Representing several not-for-profit Pennsylvania health care organizations, Cassatt Insurance Company Ltd. was formed in 1991 in response to a medical malpractice crisis. Today Cassatt celebrate their 20th year in operation but it has not all been plain sailing. Given the forthcoming implementation of the Insurance Code of Conduct into Bermuda´s regulatory framework, Cassatt look to share their story, discussing how taking control of their business and adopting an integrated approach to governance and operations brought together previously siloed risk management, claims management and finance functions to operate in a collaborative manner with unified goals. By reconciling their risk management and risk mitigation strategies with the fiduciary responsibility of its members, the captive has propelled itself from near insolvency to financial success and is well positioned to adopt the Code's directives.

Moderator:

• Butch Agnew, Senior Vice President, Aon Insurance Managers (Bermuda) Ltd.

Panelist(s):

• Eric Dethlefs, President and Chief Executive Officer, Cassatt Risk Retention Group, Inc.
• Thomas Alesi, Vice President & Chief Financial Officer, Cassatt Risk Retention Group, Inc.

Networking Break

Strategic Planning for Growing Your Captive: A Capital Modeling Perspective

You want to grow your captive and it meets the current solvency requirements of the BMA. But are existing retained earnings sufficient to withstand potential black swan events? Events such as a financial meltdown (asset risk), weather events that wipe out your reinsurer (credit risk), adverse development of your claims experience (reserve risk), or a sustained soft market on third party premiums (underwriting risk). Quantifying these and other risks are key to determining the overall health of your captive – BEFORE YOU IMPLEMENT A GROWTH STRATEGY. Once you determine existing captive health, how much can you grow without putting your captive (and your job) in jeopardy?

Moderator:

• Robert Paton, EVP, Aon Insurance Managers (Bermuda) Ltd.

Panelist(s):

• William Montanez, Director, Risk Management for Ace Hardware Inc., Chicago, IL
• Jim McNichols, Consulting Actuary, Aon Global Risk Consultants, Asheville, NC
• Jeffrey Doffing, Manager & Actuary, Aon Global Risk Consulting, Minneapolis

Cocktail Party with Exhibitors sponsored by Marsh IAS, Butterfield Bank and KPMG

Breakfast with Exhibitors

Sponsored by Chartis.

From the Market: Industry Speaker

The Power of the People: The truth about AIG. Separating myth from reality, as the company emerges from crisis....and, where it stands today.

Speaker(s):

• Robert H. Benmosche, President and Chief Executive Officer, American International Group

Networking Break

Sponsored by Dyna Management Services Ltd.

Segregated Account Companies

One of the most common concerns about Segregated Account Company structures is the fact that the laws supporting them have never been tested in court. In this session Dennis Silvia, Cedar Consulting, will discuss the outcomes of a recent Bermuda court case with Jan Woloniecki, head of the litigation department at Attride-Stirling & Woloniecki, that upholds the principals of Segregated Account Companies. Jan litigated the case and will discuss the background of Segregated Account Company Law, the importance of the outcome of this case to the insurance industry and how best to protect insurance Segregated Account transactions from legal challenges.

Speaker(s):

• Dennis Silvia, President, Cedar Consulting, LLC
• Jan Woloniecki, Head of Litigation, Attride-Stirling & Woloniecki

Lunch with Exhibitors

Sponsored by Qatar Financial Centre Authority

Taking a Different Tack on Claims Control

One of the most critical tasks facing insurers (captives and otherwise) is evaluating the exposure in a particular claim. Based on that evaluation, reserves need to be established, case management strategy set, and premiums charged. Most processes for setting reserves today are a combination of looking at historical data and an "educated guess." The methodology of decision analysis provides a better means of understanding and quantifying exposure. This methodology has been tested and applied over the last four decades. Done well, it provides a perspective that helps staff to understand the critical issues and uncertainty in particular cases, and to quantify that uncertainty in a manner providing robust guidance for case reserving, premium setting, and case management. In this session, SUMIT will describe how it has systematically applied the methodology of decision analysis in a groundbreaking process called DART (Decision Analysis Reserve Targeting) to make SUMIT better and more efficient at managing claims.

Moderator:

• Kathleen Bibbings, Executive Vice President, Aon Insurance Managers (Bermuda) Ltd.

Panelist(s):

• Jeffrey Driver, Chief Risk Officer and Executive Vice President, Stanford University Medical Center
• Dan Morissette, Chief Financial Officer, Stanford Hospital and Clinics
• Ed Hall, Senior Director, Risk Management Stanford Medical
• John Celona, Senior Consultant SDG

Networking Break

Maximizing Captive Value Through Team Work

Advisers, Managers, TPAs, Attorneys, Actuaries, Accountants, Lawyers, Brokers, in-house and out-of-house; how do you reap the value of these divergent resources? Who Captains the captive? What's the role of the Board in the Team? Hear from captive owners and the consultants on building a powerful, efficient team to move your captive forward and keep it moving forward. Who brings what resources to your table? How do you develop the relationships that help to build and expand your program? What real life problems have been resolved through team collaboration? Find out how to maximize the value of your resources through effective communication and creating a team approach to getting the most from your captive.

Moderator:

• Lawrence Bird, Managing Director, Marsh IAS Management Services (Bermuda) Ltd.

Panelist(s):

• Irena Kaler, Executive Director/CAO, Robert Wood Johnson Health Network
• Chris Kogut, Principal and Consulting Actuary
• Ken Rand, Managing Director, Marsh Inc.
• Catherine Sheridan, Tax Partner, KPMG Bermuda

Gala Dinner Sponsored by Barclays Wealth-Fairmont Southampton Hotel