May 6 - 8, 2019 | Winter Park, Fla.

Agenda

Great conference - the presenters were dynamic and knowledgeable, the content mix was excellent, and I met so many interesting people.

John Unger
Director
Red River Mutual Insurance Company

Agenda

Monday, May 6
3:00 – 6:00 p.m.

Event Information Desk

3:30 – 5:00 p.m.

Warm Up: Role of the Board in Setting Culture and Roundtable Discussion
Are you interested in getting a jump-start on learning before the more-structured classroom time? Would you like to connect with faculty members on a specific topic to help frame your learning? Or maybe you’ve attended Bootcamp previously and want to spend some additional dedicated roundtable time with faculty members and your peers. The warm-up roundtable discussion is perfect for you. Faculty members Kevin Kinross and Jim Kennedy will lead the group through a presentation on the role of the board in developing and overseeing culture in any organization. Then they will transition the session to a facilitated yet casual and open dialogue about some of the hottest topics around board governance and operational issues facing mutual insurance companies today. Additional fees apply, so please be sure to add this option to your registration.

Faculty Member:
Kevin Kinross
Partner
Taft Stettinius & Hollister LLP

James J. Kennedy, CPCU
Consultant
Taft Business Consultants
President/CEO, Ohio Mutual Insurance Group (retired)

6:00 – 7:00 p.m.

Welcome Reception
Join fellow attendees, faculty, and guests for a casual gathering with cocktails and light fare. Resort casual attire is suggested.

Tuesday, May 7
7:00 a.m. – 4:00 p.m.

Event Information Desk

7:00 – 8:00 a.m.

Breakfast
Join your fellow attendees for breakfast to get the Bootcamp off to a great start. You will have a chance to meet the faculty and your peers.

8:00 – 8:30 a.m.

Welcome & Setting Expectations
This session will begin with a quick history of NAMIC and an overview of what NAMIC does and how it serves the mutual insurance industry. The workshop faculty will also be introduced, highlighting their areas of expertise.

NAMIC will distribute attendees’ areas of interest that were collected through the concurrent session survey and invite participants to let staff know of any additional needs that may arise. This session will also introduce attendees to Bootcamp Mutual Insurance Company, a fictional company that will be used in several of the group exercises and discussions.

Content Leader:
Kristen L. Spriggs
Senior Vice President, Member Development
NAMIC

8:30 – 10:00 a.m.

Corporate Governance and the Role of the Board
This session qualifies for one FMDC credit in the Management module under the course name Role of the Board.

This session serves as an excellent foundation for all board education and training. We will address the fundamentals of corporate governance for mutuals and help you understand your role as a board member. Topics will include the role of management versus the role of directors, term limits, qualifications of board positions, and the importance of independent directors. We will also define a best practices approach and discuss ways to implement that approach.

Faculty Member:
Kevin Kinross
Partner
Taft Stettinius & Hollister LLP

10:00 – 10:20 a.m.

Networking Break

10:20 a.m. – 12:00 p.m.

Understanding Company Financials and Key Metrics
This session qualifies for one FMDC credit in the Finance and Accounting module under the course name Understanding and Analyzing Financial Statements.
This session qualifies for one CPE credit in Finance field of study.

This session will cover a variety of topics relating to company financials, including a review of generally accepted accounting principles versus statutory accounting principles as well as tips to understand benchmarks and key metrics. Attendees will receive the tools they need to understand and evaluate company financials to best serve their organizations. This session includes interactive workshop session as well.

Learning Objectives:

  • Understand the basic concepts of an income statement and a balance sheet

  • Learn the key elements in a property/casualty insurance company income statement and balance sheet

  • Identify key operating and leverage ratios in income statements and balance sheets

  • Review at a high level the key differences between statutory accounting and generally accepted accounting principles

  • Identify 15 key items directors should look for in financial statements

Faculty Member:
James J. Kennedy, CPCU
Consultant
Taft Business Consultants
President/CEO, Ohio Mutual Insurance Group (retired)

12:00 – 12:15 p.m.

Morning Wrap-Up

12:15 – 1:00 p.m.

Lunch
Enjoy a buffet lunch at your leisure during this time.

1:00 – 2:20 p.m.

Educational Sessions

  1. Reinsurance Building Blocks for Board Members
    This session qualifies for one FMDC credit in the Operations and Insurance module under the course name Reinsurance

    This session will provide an introduction to reinsurance and its fundamentals. It will explore various types and structures of reinsurance, key principles and terminology, and the numerous reinsurance markets. We will discuss the reasons why companies buy reinsurance, and how a proper reinsurance program can help a company meeting their overall goals. What questions can you, and should you, ask your management team about reinsurance activities? The session will also touch on issues necessary for company management to assemble an appropriate, successful reinsurance program.

    Faculty Member:
    Brooke Cote
    Principal
    Cote Advisors, LLC

  2. Things That Go Bump in the Night: Emerging Issues That Are, or Should Be, Keeping Boards Up at Night
    The first part of this session will cover emerging governance Issues such as Mutual Holding Company (MHC) formation, affiliations, policy holder activism, and proxy practices.

    Faculty Member:
    Kevin Kinross
    Partner
    Taft Stettinius & Hollister LLP

    The second part of this session will focus on high level regulatory trends affecting insurance companies including compliance issues, legal requirements for cybersecurity oversight, and more.

    Faculty Member:
    Geoff Baker
    Director of Compliance
    NAMIC

2:20 – 2:40 p.m.

Networking Break

2:40 – 4:00 p.m.

Educational Sessions

  1. The Board’s Role in Strategic Planning
    This session qualifies for one FMDC credit in the Management module under the course name Strategic Business Planning.
    This session qualifies for one CPE credit in Business Management and Organization field of study.

    This session will provide an overview of strategic planning and discuss the roles of a board of directors and management in developing, implementing, and monitoring a company’s strategic plan. The parameters of a strategic plan, the process of developing one, and the questions boards should ask before approving it will be addressed. The session will also address the importance of an organization’s mission, vision, and corporate purpose as well as the importance of board and management alignment on the corporate strategy. A practicum component will put attendees in the board seats of Bootcamp Mutual Insurance Company to work through the initial steps of the strategic planning process.

    Learning Objectives:

    • Understand the distinct roles of the board and management in strategic planning

    • Learn what a board must consider when thinking strategically about the mission, vision, and corporate purpose of the company

    • Identify questions a board must consider in evaluating and adopting a strategic plan

    • Learn about the role a strategic plan may play in board and executive succession planning

    • Understand the importance of alignment and monitoring of the strategic plan

    Faculty Members:
    Kevin Kinross
    Partner
    Taft Stettinius & Hollister LLP

    James J. Kennedy, CPCU
    Consultant
    Taft Business Consultants
    President/CEO, Ohio Mutual Insurance Group (retired)

  2. Industry Benchmarking and Metrics
    This session will feature insight into industry benchmarks and trends to help board members understand the numbers behind financial and operational performance.

    Faculty Member:
    Jeff Rieder
    Partner
    Partner
    Ward Group

  3. From the Brink: Board Responsibilities in a Challenging Situation
    This intimate roundtable session will be a facilitated discussion focused on how, in their role as a board member, attendees can help a fictitious, challenged company take steps to provide a successful future. The group will review the company's needs for improvement and determine what the board should expect to see from their management to improve the company's welfare. We'll discuss directors’ overall responsibilities in those efforts and how directors might best support management in this undertaking. During the discussion, we'll talk about real-life solutions used to address companies' challenges.

    Faculty Member:
    Gary Myers, CPCU, ARe
    Principal
    Lost Woods Re, LLC
    Executive Vice President, Shelter Insurance Company (retired)
    President/CEO, Cameron Mutual Insurance Company (retired)

4:00 p.m.

Bootcamp Adjourns for the Day

5:45 – 10:00 p.m.

Evening Outing & Dinner
Join us for an entertaining outing with fellow attendees and faculty at the Ravenous Pig in Winter Park, Fla. At this local craft brewery and restaurant, you will enjoy sustainable food made with local ingredients, including hors d’oeuvres, entree, dessert, and a complimentary alcoholic beverage — all included with your registration. Transportation to and from the Ravenous Pig will be provided as well. This event is included in the attendee registration. Guest tickets can be purchased during the registration process.

Wednesday, May 8
7:00 a.m. – 3:00 p.m.

Event Information Desk

7:00 – 8:00 a.m.

Breakfast

8:00 – 9:30 a.m.

Educational Sessions

  1. Enterprise Risk Management: Strategic Thinking and How ERM Supports Board Members in Constructive Participation
    This session qualifies for one FMDC credit in the Operations and Insurance module under the course name Organizational Risk Management.
    This session qualifies for one CPE credit in Management Services field of study.

    This session will explore the concepts of enterprise risk management, including the role of the board in ERM governance, the connection between ERM and strategic planning, and the critical questions board members need to ask about the company’s risks. This session includes an interactive workshop.

    Learning Objectives:

    • Learn what ERM is and how the concept came about

    • Understand how ERM relates to the Corporate Governance Annual Disclosure

    • Learn the six important aspects of ERM that directors must know

    • Understand internal governance of ERM

    • Understand how rating agencies look at ERM during the rating process

    • Define the board's role in ERM

    Faculty Member:
    James J. Kennedy, CPCU
    Consultant
    Taft Business Consultants
    President/CEO, Ohio Mutual Insurance Group (retired)

  2. CEO Succession Planning
    This session qualifies for one FMDC credit in the Management module under the course name Succession Planning

    Succession planning and management is a fundamental process for the perpetuation of any organization and its key leadership. Well-conceived, systemic, and deliberate SP&M processes do far more for an organization than merely plan for replacements. Strong SP&M processes align organizational goals so that core values are retained, and the corporate vision is realized through continued successions. This session includes an interactive workshop.

    Faculty Members:
    Randy Gerdes
    Vice President, Strategy
    CopperPoint Insurance Companies, (retired)

    Margaret Resce Milkint
    Managing Partner
    Jacobson Group

9:30 – 9:50 a.m.

Networking Break

9:50 – 10:50 a.m.

Educational Sessions

  1. Emerging Legislative and Regulatory Issues
    This session qualifies for one FMDC credit in the Operations and Insurance module under the course name Insurance Regulatory Environment.

    Understanding the legislative and regulatory environments and their implications for operating an insurance company are critical for board members. This high-level session will provide a general overview of the legislative and regulatory processes in the states and Congress. It will also address current legislative and regulatory issues and trends relevant to the property/casualty insurance industry.

    Faculty Members:
    Erin Collins
    Assistant Vice President, State Affairs
    NAMIC

    Geoff Baker
    Director of Compliance
    NAMIC

  2. Investing Fundamentals for Insurance Company Board Members
    This session qualifies for one FMDC credit in the Finance and Accounting module under the course name: Investment Perspectives.
    This session qualifies for 1 CPE credit in Finance field of study.

    This session will provide an introduction to investing fundamentals as they fit into an insurance company’s overall strategy. Topics will include the role of the board in asset management governance, the connection between asset management and strategic planning, and the critical questions board members need to ask about investment policy.

    Learning Objectives

    • Empower you from a governance perspective

    • Understand how a company’s investment strategy fits into the overall insurance strategy

    • Determine what your focus should be

    • Formulate what questions you should be asking

    Guest Speaker:
    Charles Agin
    Marketing Manager, New England Asset Management, Inc. (Retired)
    Senior Vice President, General Reinsurance Corporation (Retired)

10:50 – 11:10 a.m.

Networking Break

10:55 – 11:55 a.m.

Educational Sessions

  1. Emerging Risks: Focus on Cyber Risk
    This session qualifies for one FMDC credit in the Operations and Insurance module under the course name Emerging Risks
    This session qualifies for one CPE credit in Information Technology field of study.

    This session will explore the role of the board of directors in oversight of the company’s readiness for a cyber breach. Discussion will also focus on the questions a board should ask regarding the company’s cybersecurity program.

    Learning Objectives:

    • Learn about cyber risk considerations for the insurance industry

    • Identify elements of a cyber resilience framework

    • Understand a multi-disciplinary approach to security

    • Identify key elements of an insurance company customer data protection program

    • Learn seven critical controls for boards to measure

  2. Faculty Member:
    Kevin Rall
    Vice President, Research and Consulting
    Novarica

  3. Executive Compensation: Relevant and Resilient Strategies for High Performance
    Today’s insurance landscape is multidimensional, with issues ranging from virtually nonexistent unemployment and succession to diversity and inclusion, artificial intelligence, and the future of work. In this evolving marketplace, crafting a forward-looking, comprehensive executive compensation strategy requires a fresh perspective.

    Recognizing the board’s critical role in securing high-performing leadership and ensuring fair, competitive, and meaningful compensation must be spotlighted. Exploring compensation strategies and practices for the company, particularly for its executives, is a mandate. Stakeholders, whether policyholders or shareholders, demand the board of directors actively monitor executive pay and maintain sound salary administration with a pay-for-performance approach.

    This session will provide an overview of the current insurance landscape and discuss tools and techniques for ensuring relevant and appropriate pay for executives in today’s complex and competitive marketplace.

    Faculty Member:
    Margaret Resce Milkint
    Managing Partner
    Jacobson Group

11:55 a.m. – 1:30 p.m.

Lunch & Roundtable Discussions
We’ve allowed time in the agenda for you to take a break, gather some lunch from the buffet, and assemble for small group discussions. Attendees can rotate to a new topic at 12:15 p.m.

During this time, we will feature an opportunity for you to focus on specific areas within your role on the board or on immediate need of your company. Faculty members will be on hand to help answer questions or provide insights. This is a great opportunity to learn from your peers and the faculty.

1:30 – 2:30 p.m.

Lessons of Company Success — McKinsey “Journey” Discussion
What are the keys that separate winning property/casualty insurance companies from the rest? This session will explore the secrets to success uncovered by extensive research. In addition, this session will explore the importance of a corporate purpose.

Faculty Member:
James J. Kennedy, CPCU
Consultant
Taft Business Consultants
President/CEO, Ohio Mutual Insurance Group (retired)

2:30 p.m.

Meeting Adjourns

Contacts

Julie Bacher
Customer Service Coordinator

317.876.4279

  Julie

Our Event Sponsors:

Gen Re Guy Carpenter MunichRE & Hartford Steam Boiler NAMICO
Mutual Boiler Re.