1 p.m. -2:45 p.m.

Farm Mutual Conference Annual Business Meeting General Session
The Roots of Our Industry (qualifies for PFMM courses)
What do Benjamin Franklin, James Madison and Thomas Jefferson have in common? In addition to their founding father status, all were early policyholders in America's first insurance companies. Franklin helped found The Philadelphia Contributionship in 1752, America's first successful property insurance company which served as a model for others, small groups of neighbors banding together to provide support in times of loss. This session traces the history of these companies and their successors which helped strengthen a growing nation, making property ownership affordable for everyday citizens, not just founding fathers.

Carol Wojtowicz Smith, Independent Curator and Archivist
Insurance Society of Philadelphia
Haddonfield, N.J.

2:45 p.m.-3 p.m.

Break

3 p.m. - 4:15 p.m.

Farm Mutual Conference General Session
Future of the Mutual Insurance Industry from a Regulator’s Perspective (qualifies for PFMM courses)
This session will address how mutual insurance is affected by state and national governments/regulations and how companies will need to evolve and change to ensure a future in the insurance marketplace/industry.

Jane Cline, West Virginia Insurance Commissioner
West Virginia Offices of the Insurance Commissioner
Charleston, W.V.

9 a.m. - 10 a.m.

Convention General Session (qualifies for PFMM Course)
The Insurance Industry as a Whipping Boy
The public opinion standing of the insurance industry is at a low point. Some politicians have contributed to this decline by demagogically attacking insurance companies and agents along with their practices in order to curry favors from the public and press. These attacks are not only unfair but bring unintended harmful consequences to the very consumers they wish to protect. Mr. Soto will separate the myths from the facts of these attacks and enumerate the consequences.

Alex Soto, President/CEO
InSource, Inc.
Miami, Fla.

10 a.m. - 10:15 a.m.

Break

10:15 a.m. - 11:30 a.m.

Farm Mutual Conference General Session
Financial Management / Growth (qualifies for PFMM courses)
This session will cover details of an actual process that was implemented with one of NAMIC's member companies outlining the efforts, changes, decisions and direction that was taken to bring the company back from near financial ruins to a vibrant financially strong company in less than five years. Attendees can expect to obtain straight forward information regarding the overall basis as to what caused the financial issues and step by step details of what occurred to turn the company around. You will be provided with information on how the surplus grew by 650% in this period of time. The session will also include what advancements were made into the technological world and how this assisted in the recovery. This session has been developed to have very open and frank discussions about the overall process with high hopes of audience participation.

Art Meadows, PFMM, President/CEO
Panhandle Farmers Mutual Insurance Company
Moundsville, W.V.

11:30 a.m. - 1 p.m.

Lunch Buffet

1 p.m. -2:15 p.m.

PFMM Course: Investment Management
This session will teach participants about the benefits of developing a written investment policy statement with your Board, maximizing your surplus investment returns within regulatory requirements and prudent risk management, managing your time spent managing your investments (good help is cheap these days), and bond ladders and stock mutual funds.

Jeff David, Senior Vice President – Investments
UBS Financial Services Inc.
West Des Moines, Iowa

2:15 p.m. - 3:30 p.m.

Break in exhibit Hall

3:30 p.m. -4:30 p.m.

PFMM Course: Governance Practices
Review of definitions and developments on the governance structure of mutual companies (policyholders, board, officers); the various roles and function of the board of directors and key fiduciary duties; the importance of good faith and the relevance of "best practices"; the significance of independent directors and conflicts of interest; board meeting practices and issues; officer liability; and the role of the audit function in governance.

Gregg Dykstra, J.D., Senior Vice President & Chief Administrative Officer
NAMIC
Indianapolis, Ind.

12:30 - 1:45 p.m.

PFMM Course: Reviewing and Addressing Rate Adequacy
This presentation will provide a basic overview of the importance of rate adequacy. Topics covered include what to look for when reviewing your financials, how to determine if your rates are adequate and basic financial ratios you can use. The presentation will also cover what to do if you determine your rates aren't adequate, including potential rate changes, the role of deductibles, policy fees and tips for presenting the information to your board of directors.

Ron Kuethe, Vice President – Reinsurance
Farmers Mutual Hail Insurance Company of Iowa
West Des Moines, Iowa

1:45 - 2:00 p.m.

Break

2:00 - 3:15 p.m.

PFMM Course: Reinsurance: Purpose and Effective use in Business Development
This two-part presentation will provide the Manager of a company an overview of the purposes of reinsurance and how reinsurance can be used effectively in the company's operations.

Mike Godby, MBA, CPCU, CIC, ARe, Vice President – Farm Underwriting
Cameron Mutual Insurance Company
Cameron, Mo.

3:15 - 3:30 p.m.

Break

3:30 - 5:00 p.m.

PFMM Course: Reinsurance: Purpose and Effective use in Business Development
By the end of both sessions, participants will learn the purposes of reinsurance, the types of reinsurance, how to use reinsurance effectively, setting retentions and limits, and much more.

Mike Godby, MBA, CPCU, CIC, ARe, Vice President – Farm Underwriting
Cameron Mutual Insurance Company
Cameron, Mo.

Read

 E-mail Print