September was a busy month as I travel across the pond for the London Regional Education Day hosted by Kennedys and then on to Monte Carlo for the 2024 Rendez-Vous de Septembre – the annual gathering of the reinsurance market now in its 66th year. The London Regional Education Day was a great success hosted by Kennedys at their offices in the Walkie Talkie building. The … [Read more...] about AIRROC Abroad
AIRROC Events
Transactions, Transactions, Transactions – What is New and Notable in Runoff Structures?
The closing educational session of the July 2024 AIRROC Summer Membership Meeting was led by panelists Dareen Amireh, SVP, QBE North America, Charles Collis, Director, Conyers Dill & Pearson Ltd., Allison Tam, Partner, Willkie Farr & Gallagher LLP, Michael Terelmes, Managing Director USA, Compre Group and PK Paran, Partner, Willkie Farr & Gallagher. This session … [Read more...] about Transactions, Transactions, Transactions – What is New and Notable in Runoff Structures?
Legacy P&C Runoffs and Insolvency Challenges
Roger Schmelzer, President and CEO of the National Conference of Insurance Guaranty Funds (“NCIGF”), and Rowe Snider, partner at Locke Lord LLP, provided insight on how a runoff company might smooth a transition to insolvency, including ways in which the NCIGF could assist in the process. A replay of the presentation is available in the AIRROC On Demand library. To provide … [Read more...] about Legacy P&C Runoffs and Insolvency Challenges
Key Cyber Trends in Insurance and Reinsurance
Jasmeet Ahuja and Peter Marta, both Partners at Hogan Lovells, along with Brian Lewis, Senior Broker, Cyber Practice Leader at Lockton Re and Robert Redpath, Senior VP, Regulatory & Technical Director at Enstar US, discussed the growing threat and elevated scale of cyber attacks at the July 2024 Membership Meeting. The session focused on the current landscape and trends in … [Read more...] about Key Cyber Trends in Insurance and Reinsurance
Lawyers Beware: Ethical Pitfalls and How to Avoid Them
Jeff Burman, General Counsel, Fortitude Re, Steven Schwartz, Partner, Chaffetz Lindsey, and Alicia Yeo, Associate, Chaffetz Lindsey, joined the Summer Membership Meeting Education Day line up with their topic: “Lawyers Beware: Ethical Pitfalls and How to Avoid Them.” The discussion focused primarily on the big issues relevant to in-house counsel and attorneys who represent … [Read more...] about Lawyers Beware: Ethical Pitfalls and How to Avoid Them
AIRROC Welcomes Senior Economist James Finucane as Keynote Speaker
One of the highlights of AIRROC’s Summer Membership Meeting was the keynote address by James Finucane, a Senior Economist with the Swiss Re Institute. Mr. Finucane provided the outlook for the property casualty insurance market with a focus on industry growth, underwriting profitability and investment returns. The upshot is that the industry is on a favorable trajectory, with … [Read more...] about AIRROC Welcomes Senior Economist James Finucane as Keynote Speaker
Abuse Claims: The Current Landscape
Amy Kallal and Pamela J. Minetto, Partners with Mound Cotton Wollan Greengrass LLP summarized the current state of law regarding Sexual Abuse and Molestation (SAM) claims which have exploded in number and potential exposure. This explosion is due to the enactment by states of so-called “reviver statutes” (statutes that give plaintiffs a window in which to bring a claim for … [Read more...] about Abuse Claims: The Current Landscape
ONE Trillion Dollars – That’s Trillion with a “T”
What better way to start off the AIRROC Summer Meeting than hearing about the 2024 PwC Global Insurance Run-off Survey results. The survey was released in March (http://www.airrocupdate.org/wp-content/uploads/2024/04/Global-Insurance-Survey-2024-FINAL-8-4-2024.pdf) and for the first time, the global market has exceeded ONE TRILLION DOLLARS in reserves! Andy Ward, a partner … [Read more...] about ONE Trillion Dollars – That’s Trillion with a “T”
Should Covid-19 be Considered a Natural Peril?
This question posed in the title of this presentation is easier asked than answered. Max Chester and Tina Matic, Partners at Foley & Lardner led an interesting discussion on this topic, each of them presenting a compelling argument for whether or not Covid-19 should be considered a natural peril. Tina Matic provides attendees with the headliner that their presentation does … [Read more...] about Should Covid-19 be Considered a Natural Peril?
What’s Trending in the World of Arbitration?
AIRROC June 2024 Chicago Forum: Karen Borg (CNA), Martha Conlin (Troutman Pepper), Judy Harnadek (Resolute Management), Teresa Snider (Porter Wright) This panel addressed current trends in arbitration, including an introduction from the in-house representatives designed to provide “the view from the trenches.” The discussion included lessons to be learned from trends in … [Read more...] about What’s Trending in the World of Arbitration?
Biometric Information Privacy Act
The enactment of biometric privacy laws is a growing trend across the nation. Litigation Partner Josh Polster of Simpson Thacher gave a presentation at AIRROC's Chicago Regional Education Day 2024 on the Illinois Biometric Information Privacy Act, a frequent source of insurance coverage disputes in Illinois and nationwide. This session focused on the implications of the … [Read more...] about Biometric Information Privacy Act
Bankruptcies and the Runoff Market
Kathleen Ehrhart, Partner, Smith Gambrell Russell, LLP, moderated a panel on “Bankruptcies and the Insurance Runoff Market: Impact and Implications” at AIRROC’s Chicago Regional Education Day on June 6, 2024. Panelists included Anthony Mormino, Senior Legal Counsel, Swiss Reinsurance America, and Shelly DeRousse, Partner, Smith Gambrell Russell, LLP. The panelists discussed the … [Read more...] about Bankruptcies and the Runoff Market
To Buy Prospective or Retrospective Reinsurance – That is the Question
As the panel of John Levy (SwissRe), Angela Sampson (Guy Carpenter), and Dustin Loeffler (Aon), moderated by Jose Martinez (SwissRe) explained, for those looking for assistance in growth, capital management, protecting against volatility, and desiring sufficient risk management, reinsurance is a good choice. Given the panel’s varied backgrounds as actuaries, they cited the … [Read more...] about To Buy Prospective or Retrospective Reinsurance – That is the Question
Captive Finality Solutions
The intersection of the legacy sector and the captive market, particularly the options available to exit a captive or reduce the liabilities on the balance sheet of an ongoing captive was the topic of the presentation entitled “Captive Finality Solutions.” Steve McElhiney, Senior Vice President & Director of Reinsurance, Artex chaired the panel of state regulators, … [Read more...] about Captive Finality Solutions
Top Takeaways: “Understanding Mass Tort Liability Defeasance Transactions”
Simpson Thacher & Bartlett Restructuring Partner Michael Torkin moderated a panel titled “Understanding Mass Tort Liability Defeasance Transactions” for the AIRROC Summer Membership Meeting. Panelists included Simpson Thacher Corporate Partner Ben Schaye and Associate Jamie Fell, as well as Aaron Eisenberg, Managing Director at Evercore. The panelists discussed the current … [Read more...] about Top Takeaways: “Understanding Mass Tort Liability Defeasance Transactions”
Cyber Hype…
The last session of the 2023 Summer Membership Meeting education program was a presentation by Kenneth K. Suh and Alexander R. Cox of Locke Lord entitled Privacy And Cyber Exposures From The Collection Of Information. A video replay of this presentation is available in the AIRROC On Demand library. Key takeaways from this excellent presentation on the most up-to-date … [Read more...] about Cyber Hype…
Produced Water Claims – Making Waves for Legacy
Christopher De Carlo, Senior Technical Advisor, Environmental Insurance and Sandra Gaurin, Vice President – Client Services & Technical Support of the VERTEX Companies, LLC participated in a panel with Brian Margolies of Kaufman Borgeest & Ryan LLP to discuss legacy claims associated with produced water during the July 20, 2023 AIRROC Summer Membership Meeting. A video … [Read more...] about Produced Water Claims – Making Waves for Legacy
Hogan Lovells joins the AIRROC Community!
AIRROC is please to announce the addition of Hogan Lovells to our every expanding group of legacy professionals and extends a warm welcome to them as a new Corporate Partner. AIRROC looks forward to collaborating with Hogan Lovells on a number of initiatives that advance the AIRROC mission and the legacy industry. Hogan Lovells is a global law firm co-headquartered in London … [Read more...] about Hogan Lovells joins the AIRROC Community!
Fortitude Re named AIRROC Team of the Year for 2022
The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has selected Fortitude Re as the recipient of their annual award for 2022. This is the 18th year that AIRROC has bestowed this annual award. The award was announced on October 17 at AIRROC’s 18th Annual Legacy Transactions Forum in Jersey City, New Jersey. This award is presented each year to recognize … [Read more...] about Fortitude Re named AIRROC Team of the Year for 2022
COVID Coverage Litigation and Its Variants: Where We Are Now and What Lies Ahead
The afternoon education sessions began with COVID Coverage Litigation and Its Variants: Where We Are Now and What Lies Ahead, presented by Julie Nevins, Partner, Stroock Stroock & Lavan; Erika Lopes-McLeman, Partner, Dentons; and Kelly Lloyd Lankford, Counsel, Dentons. Like the virus itself, the coverage litigation of COVID-related insurance claims has been quickly evolving … [Read more...] about COVID Coverage Litigation and Its Variants: Where We Are Now and What Lies Ahead
