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Claims Management 2021 – Adapting to new long-term risk trends

April 29 @ 8:00 am - 5:00 pm

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Event Details

Date:
April 29
Time:
8:00 am - 5:00 pm
					

Covid-19 has radically altered long-term risk trends, with new exposures emerging from the pandemic. It has once again clearly shown the limitations of existing business interruption (BI) coverage for such intangible and systemic risks. Claims and class actions brought against insurers to try and trigger BI policies has led to high profile legal cases in the UK, US, Australia and South Africa that will have far-reaching implications for the demand and supply of BI cover. More broadly, new ways of working, changes in travel habits, altered supply chain networks and increased reputational risks have impacted established risk trends, with new exposures and increases in claims patterns.

In this three-day virtual event expert speakers discussed the impact of adapting to new long-term risk trends and explore the type of claims patterns that these new exposures may generate. It also focused on the importance of collaboration and transparency as insurers and insureds work together.

 

Click here to watch the sessions on-demand.

 

Read news from the event here:

Concern that pandemic-induced D&O claims will drive further market hardening

Risk managers fear claims difficulties to rise in hard market

Day 1

09:35
Presentation: Covid-19: The new risk landscape
Covid-19 has fundamentally changed the way that the global economy operates and businesses are organised. This session will assess the fundamental new long-term risk trends and ask what risk and insurance managers need to expect in the short, medium and long term and how they need to prepare and react to deliver greater resilience for their organisations.

James Dalton, Director of General Insurance Policy, Association of British Insurers
10:05
Panel discussion: The future of BI and CBI
Coverage disputes had been in decline pre-Covid, but now lawyers are busier than ever, particularly in the contentious field of BI coverage. This session will explore the fallout from test cases around the world, assessing what it will mean for existing and future claims.

Neil Beresford, Partner, Clyde & Co
Francoise Carli, President and Cofounder, Zakubo Consulting
Martin Clark, Head of Claims Property, Energy and Engineering Lines, Zurich
Pauline Davoust, Board Member, SIRM
11:05
Panel discussion: Managing claims in a virtual environment
We are all finding new ways of working as the pandemic rolls on and the expectation is that much of this new practice will continue well into 2021 and may become the new normal. This is equally true of managing claims. This session will take a practical look at how insurers, loss adjusters and risk managers have worked together through the crisis to manage claims. We will look at how advances with technology have helped the process, the lessons learned and at how best practice is likely to evolve in the future.

Andrew Bart, President, Loss Adjusting, International, Crawford & Co
Scott Kellers, Deputy Head of Claims, Liberty Specialty Markets
Corinne Southarewsky, Chief Claims Officer for APAC & Europe, AXA XL
Lena Tighilt, Account Manager-Xactware, Verisk
12:15
Panel discussion: Consequences of the hard market
An unintended consequence of the hard market has been the fragmentation of the insurance programme. Instead of one carrier, risk and insurance managers have several insurers on the same risk. And this time, for the first time, widely across Europe they are reporting they also have different wordings from each insurer. The risk (already seen in the US) is that when it comes to paying the claim, insurers take differing views of settlement. This session explores what has been happening and the concerns for the market.

Jorg Henne, Managing Director, GVNW
Carl Leeman, Vice-President, BELRIM and Chief Risk Officer, Katoen Natie
Lene Ritz Chief Risk Officer, Energinet

Day 2

09:20
Presentation and Panel Discussion: Directors & Officers claims
Many liabilities will be tested in the coming months as part of the fallout from the Covid-19 pandemic. At the same time, social inflation around the world has only increased in a Covid-19 world. As a result, there is real concern that, if businesses fail or just under-perform, shareholders and stakeholders alike will take action against companies, including against directors and officers.

Noona Barlow, Partner – Financial Lines, McGill and Partners
Laura Cooke, Partner, Clyde & Co
Clive Thompson, past Deputy Chair, IRM
10:35
Case Study – Supply chain challenges
Firstly, as we all know, the Beirut port blast last year was a massive tragedy. But what were the liability issues to emerge from the ruins of the city? It also raises the spectre of dangerous cargoes and risks to wider communities; as well as the threat of a major disruption to supply chains. More recently, the Ever Given became stuck in the Suez Canal causing massive disruption to the normal 300 ships a day who transit the Canal. Both events have given rise to questions about supply chain risks – fuelling many internal debates about the impact of the pandemic on supply chains and whether business should minimise the length of supply chains to reduce their overall business risks.

Otto Kocsis, Principal Business Interruption & Resilience, Risk Engineering, Zurich Resilience Solutions
Kingsly Kwalar, Founder, Optimiz
Martin Schachtschneider, Head of Business Development, BELFOR Germany
12:00
WORKSHOP – Floods
Bad winter storms seem to have become the norm in so many areas worldwide. In Europe, this winter season has seen continual deluges of rain and snow. This very practical session looks at some of the mitigating actions any company can take to reduce the impact of floods or other extreme weather events on their business; as well as the challenges of making claims in the current Covid-19 environment.

Bad winter storms seem to have become the norm in so many areas worldwide. In Europe, this winter season has seen continual deluges of rain and snow. This very practical session looks at some of the mitigating actions any company can take to reduce the impact of floods or other extreme weather events on their business; as well as the challenges of making claims in the current Covid-19 environment.

Sam Dawson, Commercial Director, BELFOR UK
Andrea Fregona, Managing Director, Germany, Crawford & Company
Marco Terzago, Group Risk Controller, SKF and ANRA committee member

Day 3

09:35
Panel discussion: Cyber
With such huge changes to the way of working for almost everyone, no-one can afford to ignore new technology, embrace its adoption but also must be beware of the new cyber risks that result. Risks around GDPR and data breaches have intensified as more people work from home, while the risk of a cyber-attack has been magnified. This session will consider the emerging cyber claims as well as likely future claims.

Helen Bourne, Partner, Clyde & Co
Shannan Fort, Partner, McGill and Partners
François Malan, Chief Risk Officer, Eiffage
Mark Turner, Managing Director, Emsity / IRM
10:35
Case study: Vicarious liability
While Covid-19 has taken almost all of the cyber risk focus, there have been some other key rulings that will impact the workplace going forward, such as the UK Morrisons’ case which challenged the vicarious liability of employers in the wake of the disreputable/illegal actions of employees. The court case has set some boundaries for market practice going forward but did not totally reduce the risk for corporates and their insurers.

This session will be an analysis of the case, the fears of corporates and their insurers before the verdict and the implications going forward in terms of claims.

Jenette Newman Partner, Clyde & Co
Imogen Webb, Associate, Clyde & Co
12:00
Presentation and panel discussion: Reputational risk
As the Covid-19 pandemic unfolded, corporates faced many challenges, not least of which was keeping customers happy while they adapted to new working practices. Settling claims and ending disputes became even more important in a world where everyone was taking to the internet like never before.

In a pre-social media world, it would take the average PR disaster 48 hours to strike, but today social media can be alive with the story before the company bosses even know something has gone wrong. The need for agility and quick responses has never been greater, as this session explores.

Parule Amin, Director of Product Experience, Polecat
Lewis Edwards, Head of Specialty Binders, Liberty Specialty Markets
Renske Franken-le-Clercq, Head of Claims, Continental Europe & Dubai, Liberty Specialty Markets
Tom King, Associate Director, Willis Towers Watson

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