About the event

The range of risks covered in a global programme is expanding all the time, as new and emerging risks appear. At the same time, traditional covers face considerable challenges, particularly with the current hard market. Capacity issues, increasing rates and tighter terms and conditions mean that buyers need to look to be more creative with retentions, greater use of captives and considering ART solutions. 

Some lines are particularly stressed such as D&O and cyber, while others such as business interruption have seen restrictions. Global programmes are about ensuring a level of uniformity of coverage, avoiding gaps and getting the best terms and conditions. 

This year’s conference will be hosted over three days and will look at the challenges in the insurance market, examine possible solutions and highlight the benefits of programmes in providing global coverage for a multinational. 

This event is free to attend.

Agenda

Implementation

  • Collection of information 

A multinational insurance programme requires a vast amount of information to be collected before the programme can be planned and implemented. What sort of information does the risk manager need from the group and its overseas subsidiaries to enable decisions about global programmes? 

  • Documentation and contract certainty 

One area that needs particular attention in a multinational programme is documentation, ensuring that it is not only correct, but is available both centrally and crucially, locally. The local subsidiary may need to have evidence of cover in order to comply with local regulations. Hence, the importance of contract certainty for global programmes, an issue the insurance industry has been grappling with for some time. Has the industry finally tackled the issue of contract certainty and has the situation improved? 

  • Resolving central v local conflict 

There are a number of areas of conflict that need to be resolved before a programme can be successfully implemented, as a result of the different requirements of the head office and the local operations. There are however solutions and compromises to many of the areas of conflict. Communication is vital, ensuring that the head office understands the requirements of local operations, and vice versa. 

 

Operation

  • Criteria for premium allocation 

The premium spend of the group will need to be allocated to the different subsidiaries according to various criteria which should reflect the exposure, but there are other considerations that come into play. What needs to be considered when allocating premium? How much flexibility is there? What tax and regulatory requirements are there? 

  • Setting retention levels 

Multinationals must achieve a balance between the parent’s desire for a higher retention level and the benefits that it will bring, and the need to satisfy the subsidiaries’ requirements of a realistic retention level and the ability to finance it. This issue of internal pooling and funding the gap is crucial, and a captive is often the solution. 

  • Encouraging loss prevention 

A multinational insurance programme is a chance to encourage loss prevention throughout the group. Where there is a high level of retention, the value of loss control measures can immediately be beneficial to the company. Where a captive is utilised by the company, any loss control measures implemented by local subsidiaries can be immediately rewarded in terms of reduced premium levels. Loss prevention can be encouraged through local retention levels and, to a lesser extent, premium allocation. 

 

Current issues 

  • Hard market strategies 

A hard market is here, in most classes and regions, with some classes of insurance particularly stressed such as D&O and cyber. How can multinationals mitigate the effects of the hard market globally? What strategies can they employ, from retention to captive use to alternative risk financing? Also, the importance of risk engineering, loss prevention and incident response. 

  • Claims 

A look at developments in the claims landscape as the market hardens – the challenges and the opportunities.

  • Emerging and difficult to place risks 

Multinationals are facing a number of difficult to place risks, including D&O, cyber, supply chain and business interruption. Climate change and environmental risks are causing further concern. What strategies can companies adopt to identify and mitigate such risks across the globe? 

Confirmed speakers

James Bohan

Assistant Manager, Head of Global Fronting & Multinational, Ireland,
AIG

Andrew Bradley

Former Head of Group Risk Services,
Nestlé

Derek Bridgeman

Managing Director,
SRS Europe

Francoise Carli

President and Cofounder,
Zakubo Consulting

Malcolm Cutts-Watson

MD,
Cutts-Watson Consultancy

Claudine Delavy

Head of Distribution, EMEA,
Swiss Re Corporate Solutions

Alessandro de Felice

Chief Risk Officer,
Prysmian Group and ANRA Member

Bob Gagliardi

Head of Captive Division,
AIG

Charlotte Hooper

Business Partnerships Manager, Business Accelerator,
GEB

Brian Kirwan

Head of Structured Solutions,
McGill and Partners

Otto Kocsis

Principal Business Interruption & Resilience, Risk Engineering,
Zurich Resilience Solutions

Adrian Latimer

Consultant

Carl Leeman

Vice-President, BELRIM and Chief Risk Officer,
Katoen Natie

Ken MacDonald

Miller and London Market Group

Stephen Morton

Head of Multinational, EMEA,
AIG

Joshua Nyaberi

Head of Captive Fronting Continental Europe,
Zurich

Pieter Nyssen

Regional Captive Manager,
Zurich

Trevor Pearsons

Head of Insurance,
ACS Financial

Dan Sammons

Alternative Risk,
AIG

Bart Smets

Risk Manager,
Umicore

Reiner Siebert

Member of a Captive Board

Andrea Valacchi

Director EMEA,
GEB

Fabian Vanhecke

Regional Manager WEMEA,
GEB

Jason Van Schie

Managing Director BPsych (Hons),
MApp Psych (Occupational)

Adri van der Waart

Director Global Insurance, Arcadis and President,
NARIM

Caroline Woolley

UK Director and Practice Leader,
Meaden & Moore

Fabian Vanhecke

Regional Manager WEMEA,
GEB

Jason Van Schie

Managing Director BPsych (Hons),
MApp Psych (Occupational)

Adri van der Waart

Director Global Insurance, Arcadis and President,
NARIM

Caroline Woolley

Director and Practice Leader,
Investigative Accounting Group

Agenda

14-16 September 2021

Headline partner

Partners

Supported by

Virtual Event

This event has been organised by Commercial Risk and will be taking place virtually.

Contact Us

For more information on any aspect of this event, please contact us using the details below.

Annabel White
Group Operations and Events Manager
Commercial Risk

Tel: +447828 574 935

Sponsor and speaking opportunities

Hugo Foster
Head of Sales
Commercial Risk

Tel: +447894 718 724