There was a renewed sense of optimism in the global (re)insurance industry, with pricing finally rebounding after years of reducing rates and anaemic returns.
However the advent of Covid-19 has thrown the industry headfirst into a maelstrom of operational challenges, potentially significant losses and reputational risk.
The industry has faced enormous pressure from governments, lawmakers and the mainstream media to come to the rescue of the faltering economy – even if it means paying for a risk that hasn’t been priced for.
A protracted battle between industry trade bodies, individual carriers, governments and insureds has ensued, as lawyers search for weakness in current wordings to recoup some payment from (re)insurers.
(Re)insurers find themselves torn between playing their societal role and safeguarding their own financial stability – after all, bowing to the demands of the sabre-rattlers would undoubtedly mean bankruptcy for huge swathes of the industry (ultimately derailing the global economy even further).
Moreover, surging loss costs in the US casualty market have also created cause for concern. In particular, alarms over social inflation and a challenging tort environment in these lines continue to be a prevailing theme, with several carriers stressing that the impact of these trends may not be fully understood for many years to come - providing the market with a real sense of “fear” for the first time in years.
552
Attendees
50%
C-Suite & Senior Management
228
Companies
Business leaders, experts, and innovators who took part in the 2020 agenda
Senior Managing Executive Officer, Co-Head of International Business
Tokio MarineGet set up and check out the virtual conference. The Insurance Insider team will be around to answer any questions you may have.
Welcome to Insider US Virtual conference 2020
Gavin Davis, Director of Research, Inside P&C
09:00 - 09:25 | Fireside chat Dan Glaser
Tony Ursano, Group CFO, Hamilton Insurance Group
Network with peers and take part in 1-2-1 chats to discuss Covid-19 response, industry trends, best practice and business development.
Panel Discussion: Cyber BI Lessons in the Age of Covid-19
John Hewitt Jones, Senior Reporter, Insurance Insider (Moderator)
Patrick Bousfield, Executive Director, Capsicum Re
Elissa Doroff, Underwriting and Product Manager for Cyber Technology, AXA XL
Elizabeth Geary, Chief Underwriting Officer, North America, TransRe
Prashant Pai, Vice President, Head of Cyber Solutions Business, Verisk
Up for discussion:
What can the rest of the market learn from cyber about how to quantify non-damage BI exposure? Do you need state support to insure this type of exposure?
How can companies strike the right balance between serving the need of their clients whilst protecting their own business model?
What are the new and emerging cyber risks globally? How can the insurance market prepare for these? How are new technologies helping address these risks?
Network with peers and take part in 1-2-1 chats to discuss Covid-19 response, industry trends, best practice and business development.
13:30 - 14:10 | Panel discussion Global Insurance: Rising to the Challenge
Global Insurance: Rising to the Challenge
Panelists include (more TBA):
Up for discussion:
14:15 - 14:55 | Panel discussion
Reinsurance: Navigating a Fragmented Market
Reinsurance: Navigating a Fragmented Market
Panelists include:
Up for discussion:
The P&C reinsurance market turned in 2019, with momentum building and pricing resurgent in response to record catastrophe losses in the prior two years.
However, a brewing casualty reserving crisis in the US must not be ignored and how reinsurers respond will be pivotal to sector dynamics. Dissent remains as to where rate rises sit relative to loss-cost inflation in highly stressed areas like general liability, commercial auto, D&O and med-mal, prompting divergent underwriting strategies from reinsurers that are likely to continue throughout 2020.
Moreover, the advent of coronavirus has thrown the (re)insurance industry headfirst into a maelstrom of operational challenges, potentially significant losses and reputational risk. (Re)insurers find themselves torn between playing their societal role and safeguarding their own financial stability.
What is the current state of play in the reinsurance market?
Coronavirus: what is the impact for the P&C universe from the on-going fallout? How should the reinsurance industry respond? How have previous loss events and Covid-19 changed the dynamic between cedants and reinsurers?
Are warnings from primary and reinsurance carriers on inadequate pricing and deteriorating prior-year losses only a sign of things to come?
EarlyBird
Subscribers*
Early bird rate until 31/01/20.
Increasing to £545 thereafter.
EarlyBird
Non-Subscribers
Early bird rate until 31/01/20.
Increasing to £595 thereafter.
Applies if you are a non-subscriber and your company is a service provider.
Applies if you are a non-subscriber and your company is a service provider.
Subscribers should contact us below for their group booking promo code.
Subscribers*
.
Non-Subscribers
.
Subscribers should contact us below for their group booking promo code.
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