Promoting Professionalism and Educational Advancement

Since 1967

 

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SAVE THE DATE!!!

2017 ANNUAL MEETING & CONFERENCE

 and 50th. ANNIVERSARY OF THE IRUA CELEBRATION

APRIL 5-7, 2017

PGA National Resort and Spa

Palm Beach Gardens, Florida

Many more details to come as the program is finalized but we will be honoring the past and recognizing future reinsurance professionals with some unique sessions. 

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and just concluded the


2016 Annual Meeting & Conference 
APRIL 17-19, 2016
 Streamsong Resort ♦ Bowling Green, Florida

 We wish to thank our 2016 Spring Conference sponsors for their continued participation and support.

 

   CLICK HERE To Download the Program Agenda & Registration Information
CLICK HERE To Download  Attendance List
(a/o 4.11.2016)

The Annual Meeting of Members was held on Monday April 18 immediately before the start of the morning's Conference program.

All existing Officers & Directors were re-elected and the following new Directors have joined the Board:

Paul Carroll, Markel Global Re

Christiane Gross, Munich Re America

Scott Mackie, XL Catlin

Thank you all for your willingness to serve your Association!!

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At the Conference the IRUA's highest honor the

DR. GEORGE D. YOUNG AWARD FOR PROFESSIONAL EXCELLENCE  

was bestowed upon former President JAMES A. BROST who led and guided the IRUA through three and a half years of unprecedented change (2011-2014).

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2016 SCHOLARS ESSAY AWARD PROGRAM ANNOUNCED

Interns at member companies can apply - details and application available by clicking on the Scholars tab to the left  - for this program which will provide up to $16,000 in awards to qualifying interns at member companies who submit an essay on an reinsurance or insurance theme to Maria Sclafani at the IRUA (mcs@irua.com) by September 1st.  The basic program is unchanged from 2015 - just the amount to be awarded has increased.  Essay program applicants must first submit a formal application and be accepted due to IRS regulations.

RECORD NUMBER OF ESSAY CONTESTANT APPLICATIONS APPROVED - 24!!!

 

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FIRST NEW LOOK SCHOLARS PROGRAM AWARDEES  FOR 2015 ANNOUNCED

The IRUA Scholars Committee had a difficult task in choosing the winning essays submitted by college students interning with IRUA member companies this past Summer and by a narrow margin the following awards were agreed:

FIRST PLACE ($7,000) - KATHRYN MARTINCIC for her paper entitled "Drones and Their Impact on the Insurance and Reinsurance Industry". Katie interned at Maiden Re.   

SECOND PLACE ($5,000)  - KELLY ANNE PETRARCA for her paper entitled "Autonomous Cars: An Emerging Risk". Kelly interned at JLT Re.

THIRD PLACE ($3,000) - ALEXANDRA BERG for her paper "Insurance Implications of the Legalization of Marijuana". Alexandra interned at Munich Re America.

Congratulations to the winners - all from Temple University- and our thanks to all the intern hosting companies.

 

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AS THE 50TH ANNIVERSARY NEARS IRUA LAUNCHES ITS STRATEGIC INITIATIVE CAMPAIGN

IRUA celebrates its 50th birthday in 2017! In order to stay relevant the Board announces its new Strategic Initiatives, which followed a high-level review aimed to enhance educational and networking services provided and add value to your membership. These include:

 - formal change in the acronym from "IRU" to "IRUA" which brings consistency with email and website addresses

- a new modern and dynamic logo and re-branding of all content and materials

- a totally redesigned and user-friendly website with much improved user access and functionality-  DESIGN PHASE NOW COMPLETE! PROGRAMMING WELL UNDERWAY.

- consolidation of committee structures to reflect our four core focus areas - Education; Scholars; Conference and Journal of Reinsurance

As this is a work in progress your patience is appreciated but it will all be worth it!!

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 UPCOMING EDUCATION EVENTS

NEW DATE!!! 

OCTOBER 20   RISK MANAGEMENT - WHAT IT IS AND HOW IT WORKS

This seminar will commence at 1.30 and conclude at 4.30 and then be followed by a Networking Reception.

Location: Crowell & Moring LLP, 590 Madison Avenue in midtown NYC

Speakers: 

Steven McElhiney - President of EWI Re; Chief Risk Officer, Contran Corporation & President/CEO of their Vermont captive; Chairman of EWI Re (UK)

John Denton - Managing Director, Marsh

 and another presenter to be confirmed.

Seminar synopsis:  We explore Risk Management from the basics into the deep dive and will describe the “food chain” of Risk Management.  What is it – really?  It is not just someone walking around making sure ladders are secure.  It has evolved over the last 5 years to address risk in all of its forms; physical, financial, reputation, legacy loss exposure, emerging risks and more. 

Two Risk Managers will be talking about what they face and how they then decide to address it.  Insurance/Reinsurance is an inherent tool.  Whether the company is self-insured, has a captive or buys traditional cover.

Mr. Denton of Marsh will discuss how to construct a tailored cover and contract language to address the risk concerns of the Risk Managers. What does each party do to define the cover and agree on terms and then how to finalize the contract/policy.

Once cover is established, how is it reinsured?  Based on the nature of the cover, how does reinsurance get brokered and how is it accepted?  Fac vs. treaty?  Is it placed as a program?

Following the presentations an interactive session will encourage attendees to suggest a certain type of risk and various factors associated with it; i.e. domestic exposure only, varying understandings of the complexity, dollar limits, etc..  The panelists will then give their perspectives on it and interact with the attendees about everyone’s role in the process – including the underwriter and brokers sitting in the audience.

This seminar is geared to underwriters and brokers as well as legal, finance and claims people of all experience levels.

In order to encourage as many as possible to attend this excellent and informative session registration fees are a very low $150 for each IRUA member company attendee and only $195 for a non-member attendee.

REGISTRATION IS NOW OPEN so CLICK HERE to go to the registration form.

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2017 TOPICS AND DATES are currently under consideration and will be published here as soon as available. But first 2016 .....

 

WHAT YOU MISSED!

MAY 4-5    - NEXT GENERATION LEADERSHIP SEMINAR 

Our THIRD industry unique two-day program was again highly rated by attendees at the seminar held at Transatlantic Re's office in downtown NYC.

Topics included:

A Reinsurance Executive/CEO Panel on Visions for the Future

Risk Management and Climate Change (Temple University Professor in Risk Management)

Current and Future Trends in Insurance and Reinsurance (Holborn's CEO)

An interactive Group Case Study Project

FEBRUARY 3  - CAT BOND MECHANICS 

Hosted by Hogan Lovells LLP , midtown NYC
Speaker:  Chi Hum, Managing Director, Guy Carpenter & Co., LLC
Chi Hum, Managing Director of Guy Carpenter gave an excellent and informative presentation that sparked an extremely interactive discussion with attendees.  A copy of the presentation will be sent to those registered

MARCH 9  - CLAIMS AND UNDERWRITING ASPECTS OF EMERGING RISKS   

Hosted by Mound, Cotton, Wollan & Greengrass LLP, downtown NYC

 Topics Included:   Big Data & Cyber Risk ♦ Nanotechnology ♦ Medical/Legalized Marijuana ♦ The Internet of Things  ♦ 3-D printing, Bitcoins & E-Cigarettes/Vaping 

Attendees clearly liked this seminar as the reviews were excellent and included comments such as: " A really good seminar with topics that affect us both professionally and at the consumer level"; "Great value!"; "Interesting and pertinent material"; "Thank you IRUA for another great seminar!"

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REINSURANCE NETWORKING GROUP

The group meets over lunch from 12 -2 and offers an educational event and good networking and social opportunities. 

The next meeting will be on THURSDAY OCTOBER 6 at the office of HINSHAW & CULBERTSON LLP when Edward K. Lenci will lead our discussion. More details will be provided when finalized. Hinshaw's office is located at 800 Third Avenue (13th Floor) between 49th and 50th streets in midtown NYC.

So far this year we have enjoyed:

JANUARY 12   

The lunch, network and learn event was held on Tuesday January 12 at the downtown NYC office of Stroock, Stroock and Lavan LLP ).  Stroock partner, Andrew S. Lewner and Associate, David Simunovich presented the topic: "Exploring the New World of Privilege in the Reinsured/Reinsurer Relationship". 

MAY 3 

Everett Cygal and David Pi of Schiff Hardin's Chicago HQ presented on the topic of Recent Developments regarding an Arbitrator's Disclosures and the meeting was held at Schiff Hardin's NYC office located at 666 Fifth Avenue (52/53 streets) on the 17th floor.  

 JUNE 14   

 Steve Schwartz of Chaffetz Lindsey presented  on the subject of the Bellefonte decision and recent developments in the Second Circuit and the meeting was held in Chaffetz Lindsey's impressive new offices at 1700 Broadway (53/54th streets).  A capacity and highly interactive audience enjoyed the program and our thanks are due to Mr. Schwartz and the Chaffetz firm.

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FROM TIME TO TIME WE LIKE TO PUBLICIZE EDUCATIONAL EVENTS OF FELLOW ENTITIES SO FOR OUR LOS ANGELES AREA MEMBERS PLEASE NOTE:

Tuesday October 18 - Los Angeles CPCU Society will be holding an All-Industry Day at the Sportsmen's Lodge in Studio City. 

For more information please go to: https://losangeles.cpcusociety.org/meetings-events/save-date-101816-71st-annual-los-angeles-cpcu-i-day 

 

IRUA, Inc.
C/O The Beaumont Group, Inc.
3626 East Tremont Avenue - Suite 203
Throggs Neck, NY  10465
Phone:  718-892-0228 ♦ Fax: 718-892-2544 ♦ Email: mcs@irua.com

For more information about the IRUA and membership, sponsorships & Event, contact
Jerry Wallis or Maria Sclafani.