The opioid epidemic has had a devastating impact on society and a profound toll on public health and opioid-involved deaths. The multifaceted aspects of the opioid crisis have had an effect clinically, financially and negatively influence workers compensation. While there has been a significant decline in opioid prescribing, new medications are diversifying the drivers of … [Read more...] about New Trends in Workers Comp Drugs: Unintended Consequences of the Changing Opioid Laws and Policies
AIRROC News
Reopening Closed Remedial Sites
VERTEX’s Christopher De Carlo, Senior Technical Advisor, Environmental Insurance and Sandra Gaurin, Vice President, Client Services & Technical Support, along with Scott Davis, Partner at Husch Blackwell led a compelling discussion on “Reopening Closed Remedial Sites” at the 2024 Spring Membership Meeting in New York. The panel discussed the current legal and regulatory … [Read more...] about Reopening Closed Remedial Sites
A Regulator’s View of IBT’s, Division’s and the 2024 NAIC Priorities
Panelists Kathy Belfi, KB Regulatory Solutions (former Director of Financial Regulation, Connecticut Insurance Department), John Finston, Finston Consulting Inc. (former Executive Deputy Superintendent for Insurance, NY DFS), Glen Mulready, Commissioner, Oklahoma Insurance Department and Robert Romano, Partner, Norton Rose Fulbright held a roundtable discussion of the trends … [Read more...] about A Regulator’s View of IBT’s, Division’s and the 2024 NAIC Priorities
Nuclear Verdicts & Social Inflation: Juror Biases & Trends
How do you get the attention of 100 people attending the last session on the final day of an AIRROC conference? Well, this presentation started out with the group watching two brief videos of juries deliberating in advance of rendering their verdict. In both scenarios, audience members were able to hear the jurors discussing their opinions on the deep pockets of corporate … [Read more...] about Nuclear Verdicts & Social Inflation: Juror Biases & Trends
The Use of AI in Workers Compensation Legacy Transactions
Michael Terelmes, Managing Director-USA, Compre Group, moderated a panel on “The Use of AI in Workers Compensation Legacy Transactions” at the AIRROC Spring Membership Meeting. Panelists included Rooney Gleason, Chief Insurance Officer, Evolution IQ, Travis Grulkowski, Principal & Consulting Actuary, Milliman, and Justin Herring, Partner, Mayer Brown. The panelists … [Read more...] about The Use of AI in Workers Compensation Legacy Transactions
AIRROC Welcomes New Member RiverStone International
AIRROC extends a warm welcome to new member RiverStone International. We are delighted to have RiverStone join the AIRROC community and very much look forward to a constructive collaborating with them. RiverStone brings a wealth of market experience and their membership is highly valued and instrumental as AIRROC continues to expand its international reach. Jamie Saunders, … [Read more...] about AIRROC Welcomes New Member RiverStone International
Global Insurance Run-Off Survey 2023
https://player.vimeo.com/video/928071878?h=a317416669 https://player.vimeo.com/video/928071342?h=fa7dc337db The PwC 2023 Global Insurance Run-Off Survey is here! The key takeaway is that the global non-life run-off reserves are estimated to exceed $1 trillion, yes that’s $1 trillion. Read Here... … [Read more...] about Global Insurance Run-Off Survey 2023
AIRROC Continues to Build its Network Welcoming Five New Members
There is no better way to begin a new year that to welcome five new Members to our community. AIRROC continues to grow and expand its network because of the value proposition we offer and what each of our Members bring to an organization with a legacy of success! We are excited and thrilled to welcome Great American Insurance Company, Hannover Re, Augment Risk, EMC Re, and … [Read more...] about AIRROC Continues to Build its Network Welcoming Five New Members
AIRROC Announces New Board Leadership, Officers and Directors for 2024
AIRROC is pleased to announce the new 2024 leadership of the Board of Directors. Tom Mendralla (Swiss Re) takes over as Chair with Betsy Mitchell (A.G. Risk Management) and Dawn Ballin (Enstar) as Co-Vice Chairs. The board supporting officers are Marianne Petillo (ROM), Treasurer, Megan McHugh (Brandywine), Secretary and Susan Aldridge (Norton Rose) as General Counsel. … [Read more...] about AIRROC Announces New Board Leadership, Officers and Directors for 2024
Letters of Credit: The Good, The Bad and The Vesttoo
The education session on Letters of Credit (LOCs) at the 2023 Legacy Transactions & Networking Forum hosted by AIRROC was literally “ripped from the headlines” by covering the widely reported allegations of fraud arising from the Vesttoo bankruptcy and the attention it has drawn to the use of LOCs. Jonathan Bank, Counsel, Norton Rose Fulbright, chaired the panel of … [Read more...] about Letters of Credit: The Good, The Bad and The Vesttoo
Droughts and Wildfires – Floods and Hurricanes
David Snyder, Vice President and Assistant General Counsel of the American Property and Casualty Insurance Association, Aaron Koch, Principal and Consulting Actuary at Milliman, and Annie Shen, Actuary at Milliman, participated on a panel moderated by Katheleen Ehrhart, a partner in the litigation practice at Smith Gambrill Russell, that examined lessons to be drawn from the … [Read more...] about Droughts and Wildfires – Floods and Hurricanes
AIRROC Unveils New Leadership Award Established to Recognize NextGen Professionals
A well-kept secret was revealed at the 2023 AIRROC Legacy Transactions & Networking Forum this October. AIRROC established a new award that was announced for the first time - the AIRROC NextGen Leadership Award. This award acknowledges and celebrates the accomplishments and exemplary leadership of one of the NextGen members that has really made an impact over the course … [Read more...] about AIRROC Unveils New Leadership Award Established to Recognize NextGen Professionals
Global Economic and Geopolitical Risks: Trends and Challenges Impacting Insurance and Reinsurance Markets
AIRROC kicked off its 2023 Legacy Transactions & Networking Forum with keynote speaker Dr. Robert Hartwig, Director of the Risk Management and Uncertainty Center at the University of South Carolina. Dr. Hartwig took us on a whirlwind tour of the global economic and geopolitical forces shaping the outlook for the property casualty insurance market and helped us understand … [Read more...] about Global Economic and Geopolitical Risks: Trends and Challenges Impacting Insurance and Reinsurance Markets
Notes from the Battlefield: Navigating Reinsurance Disputes
Moderated by Guyon Knight, a panel consisting of Larry Greengrass, Debra Hall, Russel Bogen, and Frank DeMento engaged in a comprehensive discussion on the challenges and unique issues arising from reinsurance transactions. A video replay of this presentation is available on AIRROC’s On Demand plateform. Here, we distill their insights into ten key points: 1. Legacy … [Read more...] about Notes from the Battlefield: Navigating Reinsurance Disputes
Getting to Know Paul Brockman, AIRROC 2023 Person of the Year
AIRROC is proud to announce that it has chosen Paul Brockman, Enstar Group Chief Operating Officer and Chief Claims Officer, as its Person of the Year. This honor is bestowed annually on an individual or team that has made a significant contribution to the run-off industry and who has demonstrated the vision and creativity that make our work a vital part of the insurance … [Read more...] about Getting to Know Paul Brockman, AIRROC 2023 Person of the Year
Actuarial Student Jacob Hayes Awarded the 2023 Trish Getty Scholarship
AIRROC in conjunction with the NextGen Council was excited to present the 2023 Trish Getty Scholarship to Jacob Hayes during an awards ceremony at the October Legacy Transactions & Networking Forum. Each year since 2012, a $5,000 scholarship has been presented to an exceptional undergraduate student studying insurance, risk management or actuarial science. Students apply … [Read more...] about Actuarial Student Jacob Hayes Awarded the 2023 Trish Getty Scholarship
Monte Carlo le résumé
The 2023 Rendez-Vous de Septembre – in its 65th year – is the annual gathering of the reinsurance market in Monte Carlo. I had a very busy few days in Monte Carlo attending events organized by IRLA, PwC, Guy Carpenter, and Gallagher – just to name a few. I enjoyed meeting with a number of our members and of course sharing the benefit of AIRROC with those that are potential … [Read more...] about Monte Carlo le résumé
Paul Brockman named AIRROC “Person of the Year” for 2023
The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has selected Paul Brockman, Enstar Group’s Chief Operating Officer and Chief Claims Officer, as the recipient of their annual “Person of the Year” award for 2023. This is the 19th year that AIRROC has bestowed this annual award. The award was announced on October 16 at AIRROC’s annual Legacy Transactions … [Read more...] about Paul Brockman named AIRROC “Person of the Year” for 2023
NextGen Council Corner
The NextGen Council is excited to launch its latest initiative! September is the kick-off of the AIRROC NextGen #WhatIsLegacy series on LinkedIn. With the goal to spread awareness about the Legacy space and the opportunity it offers, NextGen is featuring comments from Legacy professionals about their own industry. Check out some of the early comments from well-known industry … [Read more...] about NextGen Council Corner
The AIRROC 19TH Annual NJ Legacy Transactions and Networking
Registration is now Open! AIRROC looks forward to reuniting with our legacy colleagues from Sunday, October 15 through Tuesday October 17, 2023. The legacy sector’s “must attend” event offers many of the highlights we all expect as well as some new additions to the schedule this year. Changes include offering a Mexican Fiesta dinner as our delegates arrive on Sunday, Robert … [Read more...] about The AIRROC 19TH Annual NJ Legacy Transactions and Networking