2023/2024 EDUCATION EVENTS
Including IRUA’s Reinsurance Basic Syllabus Program
(All being presented via webinar but we hope to return to hybrid in-peron/webinar soon!)
In 2021, the IRUA introduced a “Syllabus Program” aimed at those who have just entered or who have only a few years of experience in the industry. It is intended to be a “Reinsurance Primer Series” of twelve basic topics to be offered on a rolling 2-year cycle. The topics are marked with an asterisk* and are listed in green.
A Certificate will be awarded to those participants who complete 10 out of 12 topics listed. And, Congratulations to our first two graduates!
A WALL STREET VIEW OF THE INSURANCE/REINSURANCE INDUSTRY WEBINAR
Seth Bair, Managing Director and Head of the Insurance Investment Banking Group at Keefe, Bruyette & Woods provided his usual excellent annual update of the financial and investment markets view of our industry.
REINSURANCE CASUALTY UNDERWRITING AUDITS*
This webinar, presented by Joseph Carney, was geared to all levels of experience in conducting casualty underwriting audits of ceding companies. Topics included pre-audit preparation, key areas of focus during the audit and wrap up strategies. Mr. Carney has a near 4-decades long career in casualty underwriting. He is the owner of JEC Consulting, Inc. and provides arbitration and litigation support services to the legal community as well as providing underwriting consultancy services.
IRUA ANNUAL MEMBERS MEETING & CONFERENCE
APRIL 17 – 19
Marriott Harbor Beach Hotel, Fort Lauderdale, Florida
Our Annual Conference featured plenty of thought-provoking and informational technical sessions and panels as well as offering plenty of excellent networking opportunities in a great location. Feedback was overwhelmingly positive from a record number of attendees!
ACTUARIAL PRINCIPLES FOR THE NON-ACTUARY*
This session was designed not only for the junior underwriter, broker and other (re)insurance professional, but also for the more experienced professional who is looking to increase their knowledge of basic and intermediate actuarial principles. Munich Re America’s Michael Schummer, ACAS MAAA, explained the rating process from start to finish and showed attendees what trends to look for in the analysis to better price and underwrite your risks. Be better prepared for discussions with your actuarial colleagues!
REINSURANCE PROPERTY UNDERWRITING AUDITS*
Munich Re America’s Christiane Gross and John Ferris of JC Ferris Advisors, Inc. discussed and evaluated what are the audit goals, audit types and how to prepare for and conduct a property underwriting file audit. The webinar addressed what underwriting topics you should review, how you can differentiate by portfolio and client and how you can address your findings.
REINSURANCE NETWORKING GROUP MEETING (RNG)
Update on Sexual Abuse and Molestation Claims
Lloyd Gura, Esq., Mound Cotton Partner & Executive Committee Member provided a very comprehensive and detailed update on the recent rise in these types of claims resulting, in part, from extension of the statue of limitations in certain states and resulting insurance and reinsurance issues, including number of occurrences/aggregation and allocation. He also addressed how insureds’ use of bankruptcy to resolve claims may affect carriers as well as the effects of social inflation and the use of litigation funding.
ABOUT THE REINSURANCE NETWORKING GROUP (RNG)
This is a casual education and networking group comprised mostly of attorneys, arbitrators, consultants and company claims-related people. IRUA handles all the administration and works with the organizer to arrange both in-person and virtual meetings which until the COVID-19 pandemic were held several times per year.
In this webinar, Duane Hynes of Holborn Corporation reviewed the various forms of reinsurance, including net and gross quota share and surplus treaties in proportional reinsurance, and Risk XL, Cat XL and Agg XL treaties in non-proportional reinsurance. He discussed in detail why ceding companies buy these reinsurance structures as well as the differences between facultative and treaty.
REINSURANCE PROPERTY UNDERWRITING – THE BASICS*
Just in time for renewal season, this webinar will give everyone an overview of property underwriting. Topics explored will include: Basic Property Principles; the Basic Task of the Property Underwriter; the Basic Items of COPE and will then migrate to an interactive session among the presenters discussing firstly, the insurance requirements and pricing of a primary risk and secondly, how the reinsurance is structured and pricing principles for a portfolio of property risks. Our presenters are Christina Rutte, Property Treaty Underwriter at Munich Re’s head office in Munich Germany and Matthew Doherty, Vice President and Property Treaty Underwriter at Partner Re US in Stamford, CT.
THE U.S. AND WORLD REINSURANCE MARKETS*
Jeff Sorrels, Managing Director in BMS Re’s Minneapolis office will be presenting what is happening with the reinsurance markets as well as current issues including how markets in London, Bermuda, Europe, Asia and the US relate to each other.
FOREVER CHEMICALS AND PFAS
In this webinar Frank DeMento J.D., Vice President and Head of the US Custom, Latin American and Caribbean Claims Units at Trans Re, will provide a comprehensive expose of the extent and complex issues arising from these substances which have been with us for many years and will be so forever. This webinar will be an eye opener into the extent to which we are all exposed and the claims consequences for the (re)insurance industry, including coverage and reinsurance treaty wording issues.
to Download IRUA’s Calendar of Upcoming Events
(Preliminary Events with Others Planned!)
WALL STREET VIEW OF THE INSURANCE/REINSURANCE INDUSTRY
We are inviting back Seth Bair, Managing Director and Head of the Insurance Investment Banking Group at Keefe, Bruyette & Woods to provide his usual and excellent annual update of the financial and investment markets view of our industry.
CAT MODELING FOR UNDERWRITERS & BROKERS*
Cat modeling is part of all br (ker’s or underwriter’s work but what does it all mean? Guy Carpenter’s Susan Denike, Managing Director, and Sarah Maciorowski, Assistant Vice President, in North America Catastrophe Advisory, will provide great information and make clear what the components, acronyms and key metrics mean and how data drives modeling results and how different models – including for emerging risks – can be interpreted and applied.
IRUA ANNUAL MEMBERS MEETING & CONFERENCE
APRIL 22 – 24, 2024
Seminole Hard Rock Hotel & Casino, Hollywood, Florida (New Location)
After several years on the beach our Annual Conference moves a little inland to a new and exciting location. The Conference Committee are already working on devising plenty of thought-provoking and informational technical sessions and panels as well as offering plenty of excellent networking opportunities at a great and major airport convenient location.
CYBER UNDERWRITING UNMASKED*
Annamaria Landaverde, Munich Re US’s Cyber Practice Lead, Reinsurance Division and Rachel Rossini, AXA XL’s Product Manager – Cyber and Technology-U.S. are expert practitioners and will explain the development of cyber exposure from how it is recognized today to its continuing and ongoing evolution. Current challenges facing insurers and reinsurers will be detailed along with possible market developments.
REINSURANCE ACCOUNTING FOR UNDERWRITERS & BROKERS *
U.S. Insurance and Reinsurance accounting is unique to the industry. Shaya Altschuller, CPA, Arch Re’s Corporate Controller and Jeff Pantaliano, the Assistant Controller-Reinsurance Accounting, will explain the mechanics of insurance/reinsurance accounting including how and why Statutory Accounting Principles (SAP) – the Annual Statement- varies from Generally Accepted Accounting Principles (GAAP). The differences between facultative and treaty accounting will be explained and how proportional and non-proportional business is accounted for.
ALL ABOUT REINSURANCE CONTRACTS*
The types of reinsurance contracts – pro-rata and excess of loss – and the various articles which play important roles in the application of contracts to the insurance and reinsurance business are complex. Mark Reynolds, Holborn’s Senior Vice President and General Counsel, and who heads the Legal and Contracts Departments, will present along with his colleague, Nichole Morrison, a Contract Advisor and Holborn Vice President. All will be explained!
CASUALTY UNDERWRITING FOR NON-CASUALTY PROFESSIONALS*
This webinar is intended to present the underwriting process of casualty exposures to those who are new or relatively new to casualty underwriting as well as other reinsurance participants. This would include those in accounting and finance, claims and even property underwriters. Our presenter, James Wilson, will cover the basic aspects of the non-professional casualty lines, the submission requirements and the underwriting process and timeline from the reinsurance perspective. Mr. Wilson is Senior Vice President/Senior Underwriter, Casualty at Partner Re US, and has many years of valuable experience to share.
REINSURANCE CLAIMS AUDITS*
Our classic Reinsurance Audits session will focus on practical and useful issues from a Reinsurer’s perspective. Frank DeMento, Esq. of Trans Re is an experienced industry professional for whom auditing is a significant part of his work and will provide an up to the minute expose of the most current and practical knowledge.
SCHEDULE OF EVENTS ENDNOTES
Please note that this schedule is subject to change.
For more information about IRUA’s planned events, or to register, visit the specific page on our website at: www.irua.org
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