2002 Casualty Actuaries in Reinsurance (CARe)

Special Interest Limited Attendance Seminar Directors & Officers and Errors & Omissions Professional Liability

September 19, 2002
The Downtown Association
60 Pine Street
New York, NY 10005
212-422-1982

This one-day special interest, limited attendance seminar will present current and emerging issues/ trends affecting D&O and several of the E&O lines of business commonly reinsured by primary carriers. The E&O lines include Accountants Professional Liability, Architects & Engineers Liability, Employment Practices Liability, and Lawyers Professional Liability. These insurance products will be discussed from the viewpoint of actuaries, claims personnel, underwriters, and a lawyer. Each of the five sessions is described briefly below.

Directors & Officers
Download Handout

An underwriter, a claims professional, and an actuary will discuss the issues and trends affecting D&O results and how these issues and trends are showing up (or not showing up) in the data that actuaries commonly use in their pricing and reserving analysis. The panel will also discuss emerging issues and their likely impact on D&O results in the next several years.

Moderator:
Ernest S. Tistan, FCAS, MAAA
Chubb Re, Inc.
Panelists:
Michael F. McManus, FCAS, MAAA, Senior Vice President and Actuary
Chubb Group of Insurance Companies
Douglas S. Colosky, Esq., Vice President, Executive Liability Claims
Travelers Bond
Paul N. Brodeur, Vice President D&O Product Manager
Travelers Bond

Lawyers Professional Liability
Download Handout

An actuary and a claims professional will present their views on the lawyers professional liability product. The panel will discuss rating plans, ratemaking parameters, risk characteristics, claims coverage concerns, current trends, and emerging issues. Since the exposure characteristics of this product varies by firm size, both speakers will present comparisons between small and large law firms.

Moderator:
Jean A. DeSantis, FCAS, MAAA, Vice President and Actuary
Swiss Re Underwriters Agency Inc.
Panelists:
Denise R. Olson, FCAS, MAAA, Vice President and Actuary
Pro Programs, CNA Insurance Companies
Christopher Troisi, Team Manager
Professional Liability Claims, Zurich North American

Employment Practice Liability
Download Handout 1
Download Handout 2

Rating plans, underwriting concerns, current trends, and emerging issues associated with employment practice liability (EPLI) will be discussed in this session. Panelists include an underwriter managing one of the nation's largest stand-alone EPLI books of business and a lawyer specializing in employment-related litigation and counseling in one of the largest EPLI law firms in the country.

Moderator:
Jean A. DeSantis, FCAS MAAA, Vice President and Actuary
Swiss Re Underwriters Agency Inc.
Panelists:
Mike Maloney, CPCU, Vice President
EPLI Products Liability, Chubb Specialty
John Barber, JD, Partner
Co-Chair of firm-wide Employment Practices Department
Lewis Brisbois Bisgaard & Smith LLP

Architects & Engineers Liability
Download Handout

Underwriting and pricing considerations for architects and engineers liability production are the focus of this session. Past, current, and expected future market conditions and trends will be discussed.

Moderator:
Steven Petlick, FCAS, MAAA, Chief Pricing Actuary, Global & National
Swiss Reinsurance America Corporation
Panelists:
Raymond Bustamante, Vice President
Zurich American Specialties

Accountants Professional Liability
Download Handout 1
Download Handout 2

With the downfall of Arthur Andersen due to its association with the Enron fiasco, accountants and their professional practices have come into the spotlight. Our country's economy and most of our own personal portfolios rely on the knowledge and skills of these professionals. Will increased scrutiny and examination of the numbers' paper trail set off a series of litigation or have firms established key checkpoints to safeguard their reputations? During this session various issues associated with accountants' errors and omissions coverage will be discussed.

Moderator:
Steven Petlick, FCAS, MAAA, Chief Pricing Actuary, Global & National
Swiss Reinsurance America Corporation
Panelists:
Joseph P. Kirley, ACAS, Vice President
Centre Group
Gregory W. Leffard, Esq., CPCU, ARM, Vice President - Professional Liability
Gulf Insurance Group