Loss Executives Association P.O. Box 37 Tenafly, NJ Phone:

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1 Loss Executives Association P.O. Box 37 Tenafly, NJ Phone: th SPRING EDUCATIONAL CONFERENCE Newport Marriott 25 America s Cup Avenue, Newport, RI June 6 8, 2018 Wednesday, June 6, :00 5:00 pm Registration Open 9:00 5:00 pm Speaker Ready Room (Each panel will be assigned a specific time slot) 8:30 am 5:00 pm The Edward R. Reilly, Jr. Memorial Golf Tournament Jamestown Golf Course Jamestown, RI 5:30 7:30 pm Opening Night Reception (Open to All Registered Attendees) Thursday, June 7, :30 8:30 am Continental Breakfast 8:00 5:00 pm Registration Desk Open 8:00 12:00 pm Speaker Ready Room Available (Each panel will be assigned a specific time slot.) 8:15 8:30 am General Session/Anti-Trust Admonition Statement Welcome Opening Remarks Costantino Suriano, Esq. Mound Cotton Wollan & Greengrass Jean Broderick, ARE, LEA President Regional Practice Leader - Property/Energy Claims Americas Insurance XL Catlin 8:30 9:15 am LEA Members Business Meeting (All LEA Registered Members are invited to attend) 9:00 9:05 am Treasurer s Report/Golf Report Raymond Mattia, Vice President Property Claims 9:05 9:10 am Membership Report Margaret A. (Peggy) Reilly Edward R. Reilly & Co., Inc. 1

2 9:10 9:15 am Continuing Education Report Louis D. Magnan, CPA Magnan, Griazzaro & Associates LLC 9:15 10:15 am What Claims Professionals Should Know About Underwriting Cycles in the Property/Casualty Insurance Industry The Property/Casualty (P/C) Insurance Industry has been historically cyclical in its financial performance. While many companies continue to achieve acceptable results over time, no organization can avoid the destructive influence of overly aggressive competitors. Claims professionals should have a thorough understanding of the factors that contribute to this cyclicality and, more importantly, should be aware of changes in corporate behavior that accompany the various stages of the cycle. Speaker Albert (Al) J. Beer, FCAS, MAAA, Professor of Insurance St. John s School of Risk Management, Insurance and Actuarial Science 10:15 10:45 am Refreshment Break 10:45 12:00 pm Subrogation Actions: Insurance & Public Policy Issues Arising from the 9/11 Terrorist Attack For seven years, Dallas attorney Steven Badger served on the Plaintiffs Executive Committee leading the $5 billion subrogation action against airlines and aviation security companies alleged to have been responsible for the 9/11 Terrorist Attack. This historic litigation concluded in a $1.2 billion settlement for the participating property insurers, reportedly the largest subrogation recovery ever obtained by the insurance industry. Badger's fascinating presentation provides an inside look at the events leading up to 9/11, with a particular focus on issues involving failures in aviation security. Badger also discusses the numerous interesting insurance and public policy issues that arose during the course of the litigation. Speaker Steven J. Badger, Esq., Partner Zelle LLP 12:00 1:00 pm Lunch (Open to all registered attendees) 1:00 5:00 pm LEA Concurrent Workshops 1:00 2:00 pm Select One of the Following 1 Hour Workshops Workshop 1 (1-Hour) Water Mitigation Industry and Its Impact on the Insurance Industry Water intrusion into structures often times results in substantial property damage and unless properly mitigated can lead to unnecessary secondary damage. Property Insurance claims professionals need to know how procedural standards affect claims processing in order to validate remediation efforts and handle claims in a fair and informed manner. Attendees will work through complex hypotheticals based on various defined Categories of loss and then are presented with and discuss industry standard terminology and various interpretations. 2

3 Daniel Bernazzani, Ph.D. Young & Associates Marshall Barrett, Executive General Adjuster Workshop 2 (1-Hour) Duties Owed to Mortgage and Lien Holders in the Event of a Loss While the duties owed to the named insured are often clear from the terms and conditions of the policy alone, the duties owed to a mortgagee are somewhat different. This course will discuss different issues that an insurer may have when denying to a named insured but determining coverage to a mortgagee where the policy includes a standard mortgage clause. Specifically, this course will also provide recommendations of the best practices in establishing a proper relationship with the mortgagee and avoiding any claims of bad faith in the future. Attendees will learn about recent decisions throughout the country affecting the rights of the mortgagee, and the duties an insurer owes to the mortgagee. Workshop 3 (1 Hour) Kate Maguire, Principle Ken Maguire & Associates PLLC Ken Maguire, Principle Ken Maguire & Associates PLLC Rain- Fire Landslide and Proximate Cause: A California Tale In recent months, Southern Californians experienced first-hand the catastrophic impact of a sequence of events that resulted in significant fatalities and property damage from a trio of perils: rain, fire and landslides. The chain of events and the resulting catastrophic losses will likely result in first-party insurance claims and disputes over the application of flood and earth movement exclusions. This session will cover three topics: 1) the geotechnical analysis of earth movement caused by heavy rainstorms and the erosion issues related to the destruction of vegetation and brush by wildfires; 2) California law of proximate cause and number of occurrences; and 3) unique adjustment and coverage Issues. Bill Webster, Esq., Partner Robins Kaplan Nathan Ash, Regional Manager and Geotechnical Consultant Madsen, Kneppers & Associates 2:00 2:30 pm Refreshment Break 2:30 4:30 pm Select One of the Following 2 Hour Workshops Workshop 4 (2 Hour) Data Analytics: Drilling Down on the Trends that Matter for Litigation Management and Claims Management This program addresses the ever-increasing use of data collection by commercial -property insurers: Data collection significantly impacts claims management and litigation management today, and it is expected to have 3

4 an even more important role in the future. Claims professionals and litigation managers are now able to utilize data analytics to make better decisions concerning coverage analysis, future underwriting of risks, and litigation strategy, as well as decisions relating to the selection and supervision of independent adjusters, legal counsel, expert consultants, and other claimsservice vendors. In turn, this provides more control on the adjustment and litigation spend; a potential reduction in claims payments; a shortening of the timeline for claims and litigation; and an overall increase in efficiency with much better results. The speakers will address these issues from the perspective of an in-house litigation and claims manager for a commercial insurer, and from the perspective of an outside counsel law firm. Scott Katz, Esq., Managing Partner Butler Weihmuller Katz Craig LLP Marc Giovannetti, Vice President and Claims Manager Liberty International Underwriters Mark Evans, Head or Energy, Property, & Construction Claims Americas XL Catlin Robert J. Walling, III, FCAS, MAAA, CERA, Principle & Consulting Actuary Pinnacle Actuarial Resources, Inc. Workshop 5 (2 Hour) Earthquake Let s Get Ready to Rumble! What is our industry s capacity and capability for the Big One? The claims, adjusting, legal, and technical aspects of preparing for the unpreparable. Through panel discussion and case studies designed for audience participation, this workshop will review Earthquake activity over the years - as well as looking ahead to the Big One. Liz Peterson, Director, The Collaborative Network DeSimone Consulting Engineers Raymond Mattia, Vice President Property Claims Richard Sunny, Vice President, Operations Claims Manager San Francisco FM Global Jonathan Gross, Partner Mound Cotton Wollan & Greengrass, LLP Scott Nacheman, MSc. Eng., AIA, Director Midwest Region DeSimone Consulting Engineers Workshop 6 (2 Hour) Estimating and Reserving Complex Property Losses The perennial challenge of all insurance claims is finding an accurate basis of reserving in the early stages, following the loss advice. There is an inherent friction between Insurers needs for a reliable reserve and the paucity of quality information from which to create a reliable initial estimate. 4

5 In this Workshop we hope to provide an insight as to the different challenges facing both Insurers and the adjustment team in establishing an initial cost estimate, and from this, a reserve. We will work through case studies to show actual estimating approaches and how these can be used to calculate a preliminary reserve. Ewan Cresswell, BSc, MRICS, ACILA, ACIArb, MEI, Chief Executive Officer Integra Rabindranath Rajkumar, Energy Claims Specialist Zurich North America Mike Clarke, Partner Buchanan Clarke Schlader LLP Tiffany Drane, Manager Buchanan Clarke Schlader LLP Mike Casey, Ph.D., Metallurgist Failure Analysis and Prevention, Inc. 6:00 8:00 pm LEA Reception (Open to all LEA registrants) Friday, June 8, :30 11:45 am Registration Table Open 7:30 8:30 am Continental Breakfast (Open to all registered attendees) 8:30 12:00 pm Repeat of Concurrent Workshops 8:30 9:30 am Select One of the Following 1-Hour Workshops Workshop 1 (1-Hour) Workshop 2 (1-Hour) Workshop 3 (1-Hour) Water Mitigation Industry and Its Impact on the Insurance Industry Duties Owed to Mortgage and Lien Holders in the Event of a Loss Rain- Fire Landslide and Proximate Cause: A California Tale 9:30 10:00 am Refreshment Break 10:00 12:00 pm Select One of the Following 2-Hour Workshops Workshop 4 (2-Hours) Workshop 5 (2-Hours) Workshop 6 (2-Hours) Data Analytics: Drilling Down on the Trends that Matter for Litigation Management and Claims Management Earthquake Let s Get Ready to Rumble! Estimating and Reserving Complex Property Losses 12:00 pm Conference Adjournment An LEA Officer will provide concluding remarks at the end of each workshop session. As a Reminder: Please remember that CE forms are to be signed only by an authorized LEA CE delegate and/or by the instructor of each session. 5

6 No partial credit will be given. Attendees must attend the full sessions receive CE credit for that session. to It is up to individual attendees to file for their own Continuing Legal Education credit. The LEA is not a CLE provider. All forms are to be submitted at the close of the conference. NO FORM - NO CREDIT - NO EXCEPTIONS By attending the thereof and this consent is voluntary with no expectation of Photography Waiver: By attending the LEA session you consent that your picture may be in one of the many photographs that are taken during the conference. The photos may be published or otherwise used by the LEA, which retains exclusive ownership thereof and this consent is voluntary with no expectation of compensation now or in the future. LEA conference. The photos may be published or otherwise used by the LEA, which retains exclusive this consent is voluntary with no expectation of compensation now o SAVE THE DATES th Annual Meeting & Educational Conference January 30 February 1, 2019 Marriott Fort Lauderdale Harbor Beach Hotel 3030 Holiday Drive, Fort Lauderdale, FL Spring Educational Conference June 12 14, 2019 Fairmont Southampton PO Box HM 1379, Hamilton, HM FX Bermuda Visit the LEA website at upcoming events! 6

7 LEA BOARD OF DIRECTOR OFFICERS President Jean L. Broderick XL Insurance America, Inc. Vice President Paul Aviles Allied World Assurance Co., Ltd. Treasurer Raymond Mattia Secretary Thomas Casson Immediate Past President Edward J. Ryan Munich Re America BOARD OF DIRECTORS Jim Jezewski Starr Technical Risks Agency, Inc. Jose Morgatoff Zurich N.A. Nigel Shepherd AEGIS Insurance Services, Inc. Maxine E. Walker FM Global Steven Yeo Lancashire Insurance Company (UK) Limited Counsel Costantino Suriano, Esq. Mound Cotton Wollan & Greengrass Education Coordinator Thomas Casson CE Coordinator Louis D. Magnan, CPA Magnan, Griazzaro & Associates LLC Membership Chair & Web Master Margaret A. Reilly Edward R. Reilly & Co., Inc. Meeting Coordinator Maria Sclafani The Beaumont Group, Inc