8 November 2017
Terry Renouf and Alistair Kinley of BLM consider and report on the issues that affect your claims, reserving and underwriting for 2017/18 and beyond. The session will cover: - Discount Rate: the Government Consults but will it change the negative rate? How will it do so? And when? - Jackson 2.0: Beyond Casualty - Fixed Recoverable Costs are recommended for all cases up to £100k. How will lawyers react? What are the likely changed behaviours? When will change happen? What of the digital Court? - Whiplash Reform: Tariff damages, an increase in the small claims track and a ban on pre-med offers. Judicial Reviews, Parliamentary ambush, litigants in person, claims displacement. The what, when and how of further reform for injury claims - Fraud: In August the Government reviewed progress against the Insurance Fraud Taskforce Recommendations. Where has there been progress? What remains to be done and where are the new areas of fraud?
16 October 2017
Charles Manchester - Chairman MGAA, and Roger Bickmore - Strategic Development Director, Tokio Marine Kiln, officially openined the Managing General Agents' Association's Third Annual Conference and Capacity Exchange on Tuesday 4th July 2017.
Stephen Catlin, until recently, Executive Deputy Chairman of XL Catlin, was the keynote speaker at the Managing General Agents’ Association’s third annual conference and capacity exchange on Tuesday, 4th July.
Catlin, an insurance market veteran of over 40 years, addressed representatives of managing general agents (MGAs), capacity providers and suppliers at the event. He shared his experience and the insight gained from establishing and growing the market-leading underwriting business that shares his name, while also highlighting the importance of professionalism in the MGA sector.
4th July 2017
Cybercrime is one of the hottest stories in the media.
In the UK, the Office for National Statistics (ONS) reported 5.6 million incidents of fraud and cybercrime last year. Insurers have responded to cybercrime in the commercial and SME sector, developing a new line of business considered to have great growth potential. Often overlooked, cyber insurance for the individual and their family is a significant untapped opportunity too.
As well as risks from fraudsters after their cash, other risks include online bullying, the loss of memories, damage to connected devices and online/media liability. UK General Insurance, specialist personal lines provider, together with cyber market specialists Munich Re, will discuss the changing face of insurance and explore the application of cyber liability to the personal lines market.
Matthew Leake (Partner) provides practical pointers on how to avoid
common pitfalls in the management of employees, such as poor
performance, disciplinary issues and ill health, and points to help
ensure compliance with the law and good practice.
From February 2018 onwards, all consumer policyholders must be provided with an Insurance Product Information Document ("IPID") in relation to all new insurance contracts. The IPID must follow a standardised format and must contain certain information about what is and isn't covered, key exclusions and the term of the policy and cancellation provisions. Tim Johnson, Partner at Browne Jacobson considers the following.
7 November 2017
share” workshop session and focused on what an MGA needs to do to get product development right first time in key areas such as:
- defining roles and responsibilities for product design and delivery
- product governance and management information
- target markets and customer understanding
- vulnerable customers
- product stress testing
- pricing fairness, data and innovation
- distribution chain - management and value
11 October 2017
To be successful, an MGA needs to out perform their capacity provider’s “normal” book. As well as excellent risk selection and underwriting discipline this increasingly involves superior claims management and policy administration. As a result, many MGAs are already virtual insurers; adding risk capacity is the logical next step.
Solly Bourne from Price Bailey will show you how to use Guernsey’s innovative and flexible corporate structures to share risk with existing capacity providers, taking advantage of the current market conditions to minimise risk whilst steadily growing the business from small reinsurer to meaningful capacity provider.
This panel debates the lifecycle /stages / evolution of an MGA talking through setting one up, growing organically, by acquisition, investment, looking for succession or exit.
Chair: Michael Mendelowitz, Head of Legal and Compliance, ERGO
Panel: Jason Anthony, Founder MGAM Limited; Karen Beales, MD UK General; Olly Laughton-Scott, Partner IMAS; David Howden, CEO Hyperion
4th July 2017
Mitchell Resnick of Resnick & Louis, P.C. spoke about:
-How the Trump administration has viewed and treated the insurance industry thus far, and potential paths going forward.
-Will trade between USA and UK impact the Lloyds market.
-How the Trump administration views regulatory enforcement, and will it impact the insurance industry.
-Will the efforts to remove and replace the Affordable Care Act have an impact on other types of insurance.
-Will the Trump administration have any impact on tort reform.
-How the Trump administration views cybersecurity issues and will it impact the cyber insurance industry.
6 November 2017
The session focused on a summary of the FCA’s proposals to extend the senior managers and certification regime as detailed in its latest consultation paper (CP17/25) and how this is likely to impact MGA’s. The session was aimed at members which will fall into the FCA’s ‘core’ regime.
Susan Reeves ACII, is a Consultant at Compliance Management Services Ltd (CMS), a firm of City-based independent compliance consultants and advisers to the MGAA. CMS provides expert assistance to intermediaries in connection with general insurance regulation. Susan has over 20 years’ experience in compliance in the intermediary sector and has a particular interest in culture and governance.
5 October 2017
Jade Kowalski from DAC
Beachcroft will talk through how your organisation can best prepare for
the General Data Protection Regulation and give an update on the UK Data
Protection Act (DPA).
Who are the current avante garde disrupters? What does it take to start one and what does it mean for incumbent MGAs?
Chair: Mark Geoghegan, MD The Insurance Insider
Panel: Paolo Cuomo, Principal The Boston Consulting Group; Graham Elliott, CEO Azur Underwriting; Chris Lee-Smith, Global Head of Alternative Distributions, Argo Global; Andrew Rear, CEO Munich Re Digital Partners; Alan Thomas, CCO Simply Business
4th July 2017