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ACI : Conference-Papers : 2006 : Preparing for the Future of Finite and Structured Risk (Re)Insurance
Purchasing, Selling and Structuring Risk in the New EnvironmentPreparing for the Future of Finite and Structured Risk (Re)InsuranceTuesday, September 27, 2005
AboutCurrent Investigations Are Not the Death Knell of Finite and Structured Risk (Re)Insurance Finite risk reinsurance, also referred to as financial risk and structured risk reinsurance, has been at the heart of recent insurance industry investigations. The insurance industry is moving swiftly to clarify the boundaries for using finite risk reinsurance, measuring risk transfer and accounting for and disclosing the financial aspect of these deals to shareholders and regulators. Although more rigorous risk transfer and disclosure guidelines are imminent, industry leaders and commentators say that finite risk reinsurance products are here to stay. Years of misuse and taking liberties within the finite risk reinsurance world have lead to a raft of subpoenas and several expanding probes in the industry. The controversy has come down to problems in measuring and accounting for the use of a product that by nature is dominated by the notion of time value of money and risk transfer, which can be subject to opinion. Incorrectly documenting finite and structured risk (re)insurance deals can lead to the appearance of smoothed earnings and distortion to financial statements. The evolving result of recent industry investigations is tougher rules on disclosure and accounting guidelines, including: i) the Sarbanes-Oxley-like requirement that Chief Executives be held accountable for the legitimacy of these transactions in certain states, ii) new model insurance laws drafted by the NAIC and iii) the possibility of a dual regulatory system for the insurance industry, similar to that in banking. The consequences for noncompliance with these new rules can lead to monetary penalties, suspension or even revocation of an insurer's license. To help you navigate in the new finite risk reinsurance market, American Conference Institute's Preparing for the Future of Finite and Structured Risk (Re)Insurance publication will provide you with the very latest developments, strategies and practical advice you need to avoid stepping into alleged wrongdoing when purchasing, selling or structuring loss mitigation deals. In-house counsel, managing directors and senior executives from leading companies and firms including US RE, Aquarius Capital Solutions Group, Willis Risk Solutions, Beecher Carlson, Towers Perrin, Mound Cotton Wollan & Greengrass and National Association of Insurance Commissioners provide practical guidance on:
Contents & ContributorsAboutCurrent Investigations Are Not the Death Knell of Finite and Structured Risk (Re)Insurance Finite risk reinsurance, also referred to as financial risk and structured risk reinsurance, has been at the heart of recent insurance industry investigations. The insurance industry is moving swiftly to clarify the boundaries for using finite risk reinsurance, measuring risk transfer and accounting for and disclosing the financial aspect of these deals to shareholders and regulators. Although more rigorous risk transfer and disclosure guidelines are imminent, industry leaders and commentators say that finite risk reinsurance products are here to stay. Years of misuse and taking liberties within the finite risk reinsurance world have lead to a raft of subpoenas and several expanding probes in the industry. The controversy has come down to problems in measuring and accounting for the use of a product that by nature is dominated by the notion of time value of money and risk transfer, which can be subject to opinion. Incorrectly documenting finite and structured risk (re)insurance deals can lead to the appearance of smoothed earnings and distortion to financial statements. The evolving result of recent industry investigations is tougher rules on disclosure and accounting guidelines, including: i) the Sarbanes-Oxley-like requirement that Chief Executives be held accountable for the legitimacy of these transactions in certain states, ii) new model insurance laws drafted by the NAIC and iii) the possibility of a dual regulatory system for the insurance industry, similar to that in banking. The consequences for noncompliance with these new rules can lead to monetary penalties, suspension or even revocation of an insurer's license. To help you navigate in the new finite risk reinsurance market, American Conference Institute's Preparing for the Future of Finite and Structured Risk (Re)Insurance publication will provide you with the very latest developments, strategies and practical advice you need to avoid stepping into alleged wrongdoing when purchasing, selling or structuring loss mitigation deals. In-house counsel, managing directors and senior executives from leading companies and firms including US RE, Aquarius Capital Solutions Group, Willis Risk Solutions, Beecher Carlson, Towers Perrin, Mound Cotton Wollan & Greengrass and National Association of Insurance Commissioners provide practical guidance on:
Contents & ContributorsRECENT SEC ENFORCEMENT CASES Andrew M. Calamari, Securities and Exchange Commission DEFINING THE DIFFERENCE: FINITE AND STRUCTURED RISK (RE)INSURANCE VERSUS TRADITIONAL REINSURANCE Andrew J. Barile, Andrew Barile Consulting Corporation, Inc. FINITE RISK REINSURANCE - A USEFUL TOOL Joseph M. Fedor, U.S. RE Corporation HOW TO EVALUATE, MEASURE AND ENSURE "REASONABLE AND SIGNIFICANT" RISK TRANSFER Bruce D. Fell, Towers Perrin A RATING AGENCY'S VIEW ON THE STATE OF FINITE AND STRUCTURED REINSURANCE Keith M. Buckley, Fitch Ratings REINSURANCE DOCUMENTATION AND DISCLOSURE ISSUES Richard H. Hershman, FTI Consulting, Inc. CHANGES TO SSAP #62 PROPERTY & CASUALTY REINSURANCE Michael Moriarty, National Association of Insurance Commissioners FINITE RISK REINSURANCE - AN INDUSTRY PERSPECTIVE Tal P. Piccione, U.S. Re Companies, Inc. NEW INSURANCE AND ACCOUNTING GUIDELINES Albert J. Pinzón, Mound Cotton Wollan & Greengrass CASE STUDIES – STOP LOSS TREATY (ACCIDENT & HEALTH REINSURANCE) Michael L. Frank, Aquarius Capital Solutions Group EXCESS OF LOSS CASE STUDY Carl Groth, Willis Risk Solutions FINANCE AND STRUCTURED RISK (RE)INSURANCE CASE STUDIES Rob Glicksteen, Beecher Carlson |
Date: Tue, Sep 27, 2005 Location:
New York, NY Pricing:
Option 1: Bundle Package
Binder & CD-ROM Save 299 - Best Value! Total: $699 + applicable taxes Option 2: CD-ROM
CD-ROM of program proceedings Total: $499 + applicable taxes Option 3: Binder
Printed copy of program proceedings Total: $499 |
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