Sep 21 - 23, 2020 | Virtual

Educational Sessions
Topics & Speakers

A significant part of the Annual Convention is the opportunity to listen to industry leaders and experts during our keynote addresses, educational sessions, and workshops. We are working to gather the best and brightest minds to power this event and help our attendees get answers and solutions to the biggest challenges facing property/casualty insurance company leaders.

Abby DeZeeuw

Financial Training for Farm Mutuals

Abby DeZeeuw
Partner
Cain Ellsworth & Co., LLP

This session will provide a basic curriculum on financial training for farm mutuals geared towards Directors. Key topics to be discussed will include financial literacy and why it is important to directors, core operating cycles and calculating and analyzing performance metrics.

Molly Fogarty

PFMM Session: Reinsurance

Molly Fogarty
Director
Aon

In this session, we will explore the basics of reinsurance by defining it and reviewing its various functions. We will also discuss the services provided by reinsurers through their partner relationships with mutual company clients. Additionally, we will look at differing types of reinsurance and the ways in which they can be structured to provide proper protection for a company's various risks.

In the second part of the reinsurance series, we will move to an overview of reinsurance contract language, highlighting some of the more important clauses. We will take time to review the methods reinsurers use in their pricing and how they might provide profit sharing to their clients. Join us as we examine how to determine reinsurance limits and retentions and talk about how all the various contracts fit together to provide a total reinsurance program to protect your company. We will close by reviewing the various types of reinsurance companies and the portions of the market they occupy.

During the final installment in the series on reinsurance, we will focus on the many ways reinsurance is marketed. Join us as we look at the important aspects of choosing a reinsurer or broker and the ways in which a company might best attract a reinsurer to its program. You will learn about the current state of the reinsurance marketplace and the numerous factors driving it in 2019. We will also discuss modeling for catastrophic risks and look at a hypothetical output from those models. There will be time at the end for practical application of the various principles learned in these sessions.

Geoff Baker

Corporate Governance Annual Disclosure II – The Sequel

Geoff Baker
Assistant Vice President, Corporate Affairs and Associate General Counsel
NAMIC

Filing a Corporate Governance Annual Disclosure with your domestic regulator is now required nearly nationwide. What do you include? How detailed should it be? How do you address changes in your governance procedures in subsequent CGAD filings? Is your company required to change its governance procedures? This session will answer those questions and addresses other valuable CGAD insights. Even if you’ve filed one before, there’s always more to learn.

Stefanie Thiel

Managing a Remote Workforce During and After COVID-19

Stefanie Thiel
Vice President, CHRO
United Heritage Insurance

The national unemployment rate went from 3.5 percent in February 2020 to a soaring 14.7 percent in April, essentially changing the dynamics of the workforce landscape overnight. While some companies have experienced the need to reduce staff via furlough or layoff, many companies continue to seek and retain talent, but it’s more challenging than ever. Prior to the COVID-19 pandemic, traditional brick-and-mortar employers were attempting to move to a more flexible work environment in order to compete with modern organizations when recruiting and attracting top talent. Employers were also fighting to retain people. Plans for transformations were often led by skeptics who believe in an onsite workforce model and met by technological challenges. But we all know and have experienced, it is possible to make a remote environment function at light speed … albeit with some pain and many lessons learned.

This session is an opportunity to learn more about the benefits and challenges of managing/working remotely as well as lessons learned through the COVID-19 experience. The consistent evolution of technology lends to the ability for an organization to creatively staff difficult-to-fill positions and manage the workforce remotely. A remote workforce can be challenging to set up and it is imperative to success to ensure the employees have the tools to do their jobs and the support to meet expectations. Setting clear objectives and key performance indicators are crucial measures to foster a work environment that is conducive to working remotely.

Matthew Junge

The Changing Flood Insurance Landscape

Matthew Junge
Senior Vice President
Swiss Reinsurance America Corporation

The insurance industry once viewed flood as a largely uninsurable risk. Companies that tried to write the peril would often find themselves under water as claims outpaced catastrophe models’ predictions. This led to many private insurers exiting the market altogether. Recent improvements in technology, particularly around mapping and modeling, are changing the landscape and allowing insurers to view the private flood market as an opportunity rather than a risk. This session will review lessons learned in the infancy of the flood market and provide examples of model “misses” and how modeling and mapping have improved. Attendees will also learn about rate making, underwriting, and claims improvements as well as how the private flood market differs from state to state.

Geoff Baker

Small Company Compliance with Cybersecurity Laws

Geoff Baker
Assistant Vice President, Corporate Affairs and Associate General Counsel
NAMIC

Lisa Sladek

Lisa Sladek
Vice President of Compliance and Product Development
NAMICO

If your company is not already subject to cybersecurity compliance requirements, it soon will be. Unlike some laws that only apply to domestic insurers, when the National Association of Insurance Commissioners’ model Insurance Data Security Act is enacted, it applies to all insurance companies licensed in the state where it is enacted. There are, however, limited compliance exceptions for very small companies that vary by employee size and, in some states, direct written premium.

Join Geoff Baker, NAMIC's assistant vice president of corporate affairs and associate general counsel, and Lisa Sladek, NAMICO’s vice president of compliance and product development, as they explore the NAIC model’s various cybersecurity compliance requirements, including risk assessments, information security programs, incident response plans, and cybersecurity policies and procedures implementation. The session will focus on how smaller insurers may want to approach this compliance hurdle without expending significant resources.

Matt Mosher

Understanding the AM Best Innovation Scoring Methodology

Matt Mosher
President & Chief Executive Officer, AM Best Rating Services Inc
AM Best

The pace of change and innovation in the insurance industry continues to accelerate. Those insurers that successfully incorporate innovation will likely strengthen their organizations, increase their customer base, and improve their efficiency while those that fail to innovate may find it difficult to sustain long-term profitability and success. In response to these changes in the marketplace, AM Best released its new criteria procedure, Scoring and Assessing Innovation, earlier this year, offering transparency into how AM Best will assess innovation and factor it into its rating process.

In this session, AM Best will review the key components of this new criteria procedure, offer insight into its initial views on the industry's innovation scores and discuss observations on the industry's innovation efforts.

Kevin Kinross

Questions All Directors Should be Asking Part 1 – Mergers/Affiliations and Activism

Kevin Kinross
Partner
Taft, Stettinius & Hollister, LLP

Kevin Kinross

Questions All Directors Should be Asking Part 2 – Key Operating/Financial Ratios/Investments

Kevin Kinross
Partner
Taft, Stettinius & Hollister, LLP

Abby DeZeeuw

PFMM Session: Financial Management

Abby DeZeeuw
Partner
Cain Ellsworth & Co., LLP

In order to properly manage a mutual insurance company, it is imperative to understand the impact of decision-making on the company’s financial statements. This course will guide you through the basics of insurance accounting and provide a basis for understanding and analyzing financial statements and the flow of premiums and losses within your company’s records.

Join the second part in this course to focus on understanding statutory financial statements. You will learn what regulators look at from performance and solvency standpoints. The session will go through a balance sheet and an income statement, discuss performance indicators over time, and provide some basic analysis and ratios widely used in the industry.

The final session of this three-part course will look at financial risk and how to manage it. Attendees will take a deeper dive into analysis and the best methods in which to use statutory financial statements to manage the risk of their companies. The session will focus on the impact of growth on the financial statements. It will also discuss the importance of rate adequacy and budget development. It will also touch on mergers and consolidations.

Brenda Wells

Cannabis vs. Hemp: What’s the Big Deal?

Brenda Wells
Professor
East Carolina University

What impact does the increasing number of states legalizing marijuana use have on the insurance industry? Join this session to find out. Attendees will explore the differences between cannabis and hemp, review the farming process for each, and discuss the specific risks insurers are facing to cover these farms. Also included will be a review of court cases pertaining to insurance coverage of cannabis and hemp as well as risks for insurance company directors.

Brenda Wells

This is Not Your Dad’s Cannabis!

Brenda Wells
Professor
East Carolina University

The cannabis risk for insurers isn’t going away. It is imperative that insurers arm themselves with the knowledge needed to properly underwrite the risk. This session will explore the differences between cannabis and hemp, discuss the history and current status of cannabis and hemp legalization, review specific hazards relating to cannabis that affect insurance underwriting, and discuss business opportunities in the cannabis space. It will also present a big-picture strategic focus for property/casualty company executives and boards of directors to assess whether insuring cannabis and/or hemp is a decision they would like to make.

Joe Cleveland

Understanding Why Models “Miss”

Joe Cleveland
Director
AIR-Worldwide

Today, the industry has come to rely on models to go beyond simply providing probabilities of industry-level loss. The expectation is that models will be able to fully capture the unique characteristics of each individual event – often before all of the characteristics of an event are fully known – and to provide accurate loss projections on a much more localized scale. Relying on models for these purposes can contribute to the perception of a model “miss” in relation to a specific event.

During this session, Joe Cleveland, a director in AIR’s consulting and client services group, will explain what it means for models to miss in estimating losses from real-time events. Joe will explain the challenges modelers face in developing accurate, realistic loss estimates as events are unfolding. He will also describe the different ways in which a model can miss and go explain factors that can contribute to this perception in the wake of major catastrophe.

Contacts

Larry Baile
Assistant Vice President - Convention & Association Services

317.876.4218

  Larry

Our Event Sponsors:

Gen Re Grinnell Re Guy Carpenter MunichRE & Hartford Steam Boiler Mutual Boiler Re Swiss Re
BMS Re Holborn Farmers Mutual Hail Willis Towers Watson
Aon CX Insurance Services Marias Technology PartnerRe
AAIC e2Value Epoq Guidewire NAMIC Insurance Solutions Relay Platform Tokio Marine HCC Travelers BoilerRe Unqork Vertafore VPay
American Express AM Best Optum P&C Liberty Mutual Equipment RE Majesco Property Damage Appraisers Resource Pro Sapiens