Captive Insurance Companies A Viable Risk Management Tool for my Organization?

Transcription

1 Captive Insurance Companies A Viable Risk Management Tool for my Organization? Beecher Carlson & Kirkpatrick & Lockhart Preston Gates Ellis LLP invite you to attend an interactive training seminar on how to evaluate and utilize a captive insurance company. Event Specifics: Tuesday, October 9, :30 AM 1:00 PM Program is free of charge for all who respond by October 1, 2007 Program Cost is $75 post October 1, 2007 Lunch Provided Hyatt Regency Orlando International Airport 9300 Airport Boulevard Orlando, FL RSVP by October 1, 2007 to Ext or aclark@beechercarlson.com For Event Details Refer to the Following Documents: Agenda About Beecher Carlson About K&L Gates Speaker Profiles Payment Instructions

2 Agenda Introduction Lynn Henricks... 8:30 AM Captives Defined, Formation Process, Costs, Risks vs. Benefits Jason Flaxbeard... 8:40 AM Uses of a Captive Insurance Company Greg Myers... 9:15 AM Coffee Break... 9:50 AM Knowing the Risks, Variability & Cash Flow Analysis Aaron Newhoff... 10:00 AM Coffee Break... 10:50 AM Tax & Legal Requirements Joseph C. Safar... 11:00 AM Lunch Served... 12:00 PM to 1:00 PM

3 About Beecher Carlson Beecher Carlson is recognized as an industry leader in the captive and alternative risk financing market with more than 25 years of experience and 100 captives under management. Our captive specialists provide expertise in all aspects of captive management, including program design, reinsurance, fronting placement, risk management and claims management. We manage captives in Arizona, Bermuda, Cayman Islands, Colorado, District of Columbia, Hawaii, Nevada, South Carolina and Vermont. Beecher Carlson assesses and models risk in a way that supports each client s unique operational culture and key risk differentiators resulting in highly customized risk management solutions for each client. Advanced Analytics is an additional distinguishing characteristic of Beecher Carlson. A variety of creative tools are used by our in house experts to model risk, project losses and structure risk management programs. Beecher Carlson also provides a truly integrated approach between actuarial services and brokerage services. This integration generates actuarial studies which are truly marketable to the underwriting community. Beecher Carlson operates under a single profit center concept; whereby geographic profit centers do not exist. This enables your account team to pull from our talented resources across the country. When firms choose to assume risk, loss prevention and claims management become even more crucial to a firm s financial success. With Beecher Carlson s proprietary EDGE product, our average client has reduced claim expenses between 20% and 30%. Beecher Carlson is based in Atlanta, Georgia; and has been the fastest growing insurance brokerage and risk management consulting firm in the United States for the last three consecutive years. For additional information, please visit

4 About K&L Gates (Kirkpatrick & Lockhart Preston Gates Ellis LLP) Kirkpatrick & Lockhart Preston Gates Ellis LLP. ( K&L Gates ) is a global law firm comprising approximately 1,400 lawyers located in 22 offices on three continents. Over 100 of K&L Gates lawyers are concentrated in what has become one of the largest Insurance Coverage Practice Groups in the world. For nearly 25 years, the lawyers of K&L Gates have been developing and implementing innovative legal strategies to assist businesses and individuals in meeting a full range of insurance related challenges. In the captive insurance arena, K&L Gates lawyers provide multi disciplinary, policyholder oriented counseling on a wide range of captive insurance issues, including insurance, corporate and transactional, finance, regulatory, securities, tax, policy review, reinsurance and retrocession agreements, and dispute resolution. For additional information, please visit

5 Speaker Profiles Jason Flaxbeard Senior Managing Director, Captive Services Beecher Carlson 1655 Lafayette Street, Suite 200 Denver, CO (303) (303) Jason Flaxbeard has 9 years of experience in the captive insurance industry and 15 years in the accounting industry. He began his career as a financial auditor with a regional audit practice in England and moved to Bermuda in 1998 to begin his career in captive management. In Bermuda, Jason joined Mutual Risk Management to manage a portfolio of rent-a-captive clients. He then joined AIG as an international auditor, reviewing the operations of AIG s international property and casualty offices. Returning to Bermuda, he joined Beecher Carlson as a client executive, managing a portfolio of large profile clients. He served his clients accounting and regulatory needs, as well as providing them with structural captive consulting. Jason Flaxbeard joined Arthur J Gallagher (Bermuda) in 2004 to run the Bermuda captive operation. He rejoined Beecher Carlson to manage the Hawaii office which currently manages 34 captives with premium volume in excess of $1.5bn. In 2006, Jason was promoted to run all of the captive operations of Beecher Carlson which represents 101 captives, including servicing clients such as Marriott Hotels, Nissan, Subaru, Harrah s Entertainment, Centennial Communications and Sprint. He has extensive experience with all types of captives and all lines of business. Flaxbeard is a graduate of Bath University, England, where he earned a Bachelor of Science degree in Economics. He is also an English Chartered Accountant and a Chartered Property and Casualty Underwriter (CPCU). Gregory K. Myers Executive Managing Director Beecher Carlson 7 Times Square, Suite 2102 New York, NY (646) (646) (fax) gmyers@beechercarlson.com Greg Myers is an Executive Managing Director of Beecher Carlson. Beecher Carlson specializing in insurance and reinsurance brokerage, consulting and captive management for large corporations and groups. Myers has been responsible for the management of several international accounts providing brokerage, consulting and captive management services. He specializes in the evaluation, formation and

6 implementation of captive insurance and other alternative risk financing programs. Mr. Myers has been responsible for various parent only, profit center captives, and rent-a-captives. Mr. Myers has been with Beecher Carlson since Prior to joining Beecher Carlson, Myers worked as a consultant for KPMG and Tillinghast. Myers is a frequent speaker at local and international risk management and insurance conferences. He has authored articles for such publications as the John Liner Review, Risk Management, Captive Insurance Company Review, Leaders, Asia Insurance Review and National Underwriter. Myers received his undergraduate degree and M.B.A. from the University of California, Los Angeles. Aaron Newhoff Senior Vice President & Chief Actuary Beecher Carlson Oxnard Street, Suite 1800 Woodland Hills, CA (office) (fax) anewhoff@beechercarlson.com Aaron Newhoff has served as Beecher Carlson s Senior Vice President and Chief Actuary since He is responsible for all actuarial studies performed by the firm. More specifically, Newhoff performs loss reserve studies, loss forecasts, net present value analyses and allocations. In addition, he oversees all work completed by the Beecher Carlson team of actuarial professionals. Newhoff and his team work closely with Beecher Carlson brokers and their clients throughout the country. The actuarial service team prides itself on not only providing the technical expertise required to help clients meet financial reporting and regulatory requirements, but also on developing creative and useful analyses to assist clients in choosing the most appropriate insurance program structure. Prior to joining Beecher Carlson, Newhoff provided actuarial consulting services for Sedgwick, Inc. Services provided for Sedgwick s clients included reserve analyses, loss forecasts and rate analyses. In addition, Newhoff directed actuarial analysts in performance of studies. These services were provided to wide variety of clients including large corporations, insurance companies, school districts and municipalities. Newhoff began with Sedgwick in In 1990, Newhoff was employed as an Actuarial Analyst with Milliman & Robertson, Inc. out of Pasadena, California. In this position, Newhoff performed reserve studies and rate analyses for Milliman and Robertson clients. Aaron Newhoff graduated from the University of California, Los Angeles in 1985 with a Bachelor of Arts in Economics/Business. He is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries

7 Joseph C. Safar Partner K&L Gates 535 Smithfield Street Pittsburgh, PA (direct dial) (fax) AREAS OF PRACTICE Mr. Safar s practice is concentrated in litigation and counseling on insurance coverage, antitrust, and records management and e-discovery matters. His insurance coverage experience includes representing and counseling policyholders in complex coverage cases involving environmental property damage, asbestos-related bodily injury and other toxic torts, business interruption, construction defects, and employment practices liability. Mr. Safar also counsels clients on captive insurance issues, including issues relating to design, structure, policy wording, and reinsurance coverage disputes. His antitrust experience includes both the defense and prosecution of private treble damage actions alleging monopolization, combinations and conspiracies in restraint of trade, price discrimination and other antitrust violations, as well as evaluation of mergers and acquisitions, structuring joint ventures and implementing antitrust compliance programs. Mr. Safar is also an active member of the firm s e-discovery Analysis and Technology (e-dat) Group. His experience includes analysis and recommendations on records management and e-discovery issues for diversified manufacturing and financial services companies, as well as management of e-discovery issues in complex litigation. PROFESSIONAL BACKGROUND Prior to joining K&L Gates in 1998, Mr. Safar served as a law clerk to the Honorable Sean J. McLaughlin, United States District Judge for the Western District of Pennsylvania. COURT ADMISSIONS United States Court of Appeals for the Third Circuit United States District Court for the Western District of Pennsylvania Numerous pro hac vice admissions in various state and federal courts BAR MEMBERSHIP Pennsylvania EDUCATION J.D., Duquesne University, 1996 (cum laude; The Duquesne Law Review) B.A., Bates College, 1992

8 Payment Information Please make checks payable to: Beecher Carlson Insurance Services, LLC. Payment is only required for late registrations (post October 1, 2007). You may bring your check to the training session or mail checks to: Alicia Clark Beecher Carlson 231 North New York Avenue Winter Park, FL Please feel free to contact Alicia Clark with any questions at Ext