Regan Shulman (Vice-President and Deputy General Counsel of Arch Insurance Company) and Michele Jacobson and Robert Lewin (both Partners at Stroock) discussed the historical issues that insurance companies have faced in relationships with program managers and offered practical solutions on how to manage those relationships productively. The panel began by reminding attendees … [Read more...] about Lessons from the Front: Managing the Program Manager
AIRROC Events
The Future of Claims
Jake Acosta of EY presented insights on the future of claims. Acosta explained that, in early 2016, EY conducted research to understand where claims operations are headed. EY’s research included interviews with executives at commercial insurers, industry analysts, and FinTech leaders. EY’s research revealed six key drivers of change in the industry. Decreasing Claims … [Read more...] about The Future of Claims
Insurance Business Transfer Statutes
A panel comprised of Eleni Iacovides of DARAG, Vincent Laurenzano and Bernhardt Nadell of Stroock & Stroock & Lavan, Jim Wrynn of FTI Consulting, and Frank Schmid of AIG discussed the various statutory and regulatory provisions governing insurance business transfers. The panel addressed traditional statutory and regulatory procedures for handling impaired and insolvent … [Read more...] about Insurance Business Transfer Statutes
Florida Bad Faith Claims: Best Practices In Claims Handling
Joanne McGovern (Claims Regional Vice-President for ProSight Specialty Insurance), joined Laura Besvinick and Julie Nevins (both of Stroock & Stroock & Lavan) to discuss the dynamics of claims handling in Florida, the hallmarks of good faith claims-handling, and avoiding bad faith claims. Bad faith claims have become something of a “cottage industry” in Florida. Certain … [Read more...] about Florida Bad Faith Claims: Best Practices In Claims Handling
AIRROC Springs Ahead: Spring Membership Meeting
Though it wasn’t feeling like Spring, and a Nor’Easter hit New England so hard it left many unable to travel, AIRROC’s Spring Membership meeting drew more than 100 attendees over two days. The familiar format of a day for business and education meetings made it a productive combination for our members and supporters. The Education Day featured timely and interesting topics: PwC … [Read more...] about AIRROC Springs Ahead: Spring Membership Meeting
A New Allocation Landscape Under In re Viking Pump, Inc.
The panel consisted of Bruce Engel, Partner at Freeborn & Peters LLP, moderated the panel consisting of Amy Kallal, Partner at Mound Cotton Wollan & Greengrass LLP, and Robin Dusek, Partner at Freeborn & Peters. Amy Kallal addressed the Viking Pump decision, stating that “it turns out” that New York is not really a pro rata state, but that “sometimes” it is. In … [Read more...] about A New Allocation Landscape Under In re Viking Pump, Inc.
Legacy U.K. Employers Liability
The panel consisted of: Richard Lawson, Global Head of Client Engagement at Pro Insurance Solutions Ltd; Ian Harvey, Head of Claims Strategy at Pro Insurance; and Joe Froehlich, Partner at Locke Lord, LLP. Richard Lawson provided an overview of the U.K. Employers Liability market, which he noted was similar to but not the same as workers' compensation in the U.S. This coverage … [Read more...] about Legacy U.K. Employers Liability
Paul Corver, R&Q the “IRLA” of Run Off
Please tell our readers about your work history and lessons you have learned. Having worked in insurance for 32 years, of which the last 27 years has been in the run-off sector, I learned at an early stage that run-off was an exciting place to be. The innovation and determination of practitioners to find a solution or manage a problem keeps the sector fresh and an enjoyable … [Read more...] about Paul Corver, R&Q the “IRLA” of Run Off
Emerging Cyber Risk Roundtable Explores Cyber Insurance Issues
Cyber risks are among the most pervasive risks of our time. They impact all industries that purchase insurance, and all lines of insurance. A panel from the insurance community whose roles in their companies focus on cyber risks (some from the underwriting and product development perspective, and others from the claims handling perspective) discuss key issues and challenges … [Read more...] about Emerging Cyber Risk Roundtable Explores Cyber Insurance Issues
Learning about Legacy: Interview with Ben Baker of IRLA and Carolyn Fahey of AIRROC
Legacy education and training is a growing market. Barbara Hadley of Iskaboo asked Ben Baker of IRLA and Carolyn Fahey of AIRROC how they define ‘training’ and ‘education’ in the context of their respective associations. ‘To the IRLA Academy, training and education go hand in hand depending on what needs to be achieved,’ says Baker. ‘Training is aimed at developing a new, or … [Read more...] about Learning about Legacy: Interview with Ben Baker of IRLA and Carolyn Fahey of AIRROC
How to Win Friends and Influence Run-off Companies: J. Marcus Doran & Peter A. Scarpato
Peter Scarpato and Marcus Doran have been named new Vice-Chairs as a result of their work and commitment to the organization. We asked them to tell us why they have put so much energy and time into their work for the organization or, in other words, what was in it for them? Since you have dedicated a lot of time to AIRROC over the last 10+ years, tell me what you get out of … [Read more...] about How to Win Friends and Influence Run-off Companies: J. Marcus Doran & Peter A. Scarpato
Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks
David Schieldrop, Managing Director and Global Co-Head of the Insurance Investment Banking Division of Barclays, Sylvain Villeroy de Galhau, EVP of AXA Liabilities Managers, and David Alberts, Partner at Mayer Brown, shared their insights on the current marketplace for buying and selling runoff business. The consensus of the panel was that market conditions – including downward … [Read more...] about Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks