In the opening session of the 2021 Runoff Deal Market Forum, Laura Pearson, Liability Restructuring Manager, PwC UK and Linda Johnson, Head of Legacy Practice, TigerRisk Partners, described the sizzling hot runoff market. Their PowerPoint slides contain a wealth of information on the state of the market and the deals transacted in 2020 and the scorching hot trends in 2021. A … [Read more...] about Deal Climate: Runoff is Hot!
AIRROC Latest News
The Keynote Speaker of the 2021 Summer Membership Meeting was Randy Maniloff. Randy is counsel at White and Williams LLP and the lawyer behind the well-known monthly newsletter “Coverage Opinions.” He presented on the Top 10 Issues for Effective Reservations of Rights Letters. Randy started the seminar highlighting the fact that insurance companies don’t provide enough … [Read more...] about Top 10 Issues for Effective Reservations of Rights Letters
Raymond Mastrangelo, a Partner with Mound Cotton Wollan Greengrass LLP, moderated a panel discussion with three of the insurance and reinsurance arbitration community’s most experienced and respected arbitrators: Susan Claflin, Claflin Consulting Services LLC, Ann Field, Senior Managing Director of Client Services, Aon, and Howard Page, HR Page Consulting LLP. The panel topic … [Read more...] about The Scope of an Arbitration Panel’s Authority
The education sessions of the 2021 Summer Membership Meeting began with “A Look at the Legal Landscape” of COVID-19 Business Interruption (“BI”) claims, presented by John O’Bryan, Partner, Freeborn & Peters, Michael Merlo, Executive Vice President and Chief Counsel, Aon, and Kay E. Wilde, Director of Reinsurance Assumed Claims, Allstate Insurance Company. The panel treated … [Read more...] about A Look at the Legal Landscape
The second session of the 4th annual Runoff Deal Market Forum focused on some of the less obvious legal, regulatory and NAIC developments that will likely impact the runoff deal landscape. The esteemed panel included Mayer Brown partner Larry Hamilton who heads the firm’s US Insurance Regulatory & Enforcement group, James Mills, Vice President and Legal Counsel of Enstar … [Read more...] about Under the Radar Potential Game Changers: Were you aware of these??
The AIRROC NextGen Task Force continues to evolve in order to optimize operations and improved effectiveness. The Task Force was formed in early 2020 during a pivotal time where prolonged remote working arrangements were not anticipated. While the original committee structure was focused on translating the Task Force’s mission statement into actionable functional areas, the … [Read more...] about NextGen Task Force Corner
In April of this year, a pioneer in the legacy business, Ken Randall, officially retired. He handed over the reins of R&Q to his chosen successors. An industry leader in legacy business that he co-founded with Alan Quilter in 1991, an industry which is now worth over $800bn according to PwC. We had a fascinating opportunity to chat with him in April and hear his insights … [Read more...] about Lessons in History with Ken Randall
On April 21, 2021, AIRROC was thrilled to host a webinar during which a panel of experts in the field of diversity, equity and inclusion (“DEI”) convened for a frank discussion on racial equity in the insurance industry. The panelists were: Brett Carter, MBA, a Managing Director for The Jacobson Group's executive search team, where he manages C-Level, vice president and … [Read more...] about Embedding Racial Equity in the Insurance Industry
We are excited to announce the winner of the “Name our Newsletter Contest.” First and foremost, we want to send a big thank you to everyone who participated in our contest, and did their best to give our newsletter a brilliant and memorable name. You may recall back in January, we decided to hold a contest to rebrand our digital newsletter and asked for your help. “AIRROC … [Read more...] about Drum roll please! Announcing the winner of our “Name our Newsletter Contest.”
On April 7th, AIRROC hosted a webinar titled "The Evolving Role of Actuaries and Claims Professionals" in collaboration with PwC, where Grant Donkervoet represented the NextGen Task Force on a panel discussion. The webinar kicked off with a PwC presentation on workforce trends in the insurance industry, operational and functional changes in the claims and actuarial environment, … [Read more...] about NextGen Task Force Corner
Our season of growth continues! AIRROC is thrilled to announce that White and Williams, LLP has joined the AIRROC network as a Corporate Partner. White and Williams has been a long time supporter of AIRROC and has now taken the step to formalize the relationship. We extend a warm welcome to our new Partner and look forward to collaborating and working with them. About … [Read more...] about White and Williams Joins as Corporate Partner
In a thorough overview of the current landscape of Opioid litigation, the final panel of the AIRROC Spring Membership Meeting presented a compelling view of why the liability trends and coverage issues involved in this litigation are expanding the scope and theories of exposure extend beyond opioid claims; it also highlighted the unique impact of opioid use on workers’ … [Read more...] about Opioids – Why this Still Needs our Attention
The 2021 AIRROC Spring Meeting was kicked off by the rise of the InsurTechs presentation given by Brian T. Casey and Benjamin P. Sykes of Locke Lord LLP, Cole Winans of Flyreel and Brent Williams of Benekiva. Many of the InsurTechs making headlines today are directly involved in one or more of the traditional segments of the insurance industry – selling, adjusting or … [Read more...] about The Non-InsurTechs – How Technology Focused InsurTechs Are Changing the Face of the Industry Without Selling a Single Policy
The Panelists for the first education session of day two of our virtual Spring Membership Meeting included Michelle Harnick, Managing Director, Guy Carpenter David Luce, Partner, DLA Piper and Ed Torres, Executive Vice President, Willis Towers Watson. AIRROC Executive Director Carolyn Fahey who served as moderator facilitated the discussion. Michelle kicked off the … [Read more...] about Market Capacity – What Does it Mean for the Legacy Market?
In 2020 over $7 billion was invested globally in insurtechs as cited by Paul Chen, Partner at Mayer Brown, who moderated the educational session, “Creating Value in Runoff through Collaboration with Insurtechs.” Fellow Mayer Brown partner Stephanie Duchene joined the panel along with Nick Daley of Plug and Play, Nicos Vekiaridies of Attestiv and Andrew Naoum of EvolutionIQ. … [Read more...] about Creating Value in Runoff through Collaboration with Insurtech
The brilliant answer that Bill Goldsmith gave to one of my favorite question for legacy link subjects was: “The Boy Scout Handbook.” And the question was…“What is your favorite business or leadership book?” The core principles of the Boy Scouts include teaching, mentoring, and the development of leadership skills. These same principles are what Bill finds most rewarding … [Read more...] about Legacy Link: Meet Bill Goldsmith
Keeping with our normal schedule, the AIRROC Spring Membership Meeting is coming to you virtually on March 9-10. You will have the opportunity to enjoy CLE education sessions on cutting-edge topics in the morning on both days and the ability to set up meetings to connect with other attendees with our neutral and secure platform. Connect with clients and companies that you are … [Read more...] about Spring Membership Meeting 2021
AIRROC extends a warm welcome to new member Genesis Legacy Solutions, LLC. We are delighted to have Genesis join the AIRROC community and look forward to collaborating with them. Genesis Legacy Solutions, LLC (“GLS”) was formed in December 2020 by Maiden Holdings. GLS specializes in providing a full range of legacy services to small US insurance entities, … [Read more...] about Meet Our Newest Member
Earlier this month AIRROC hosted its Insurance Business Transfer (“IBT”) Workshop, which brought together (virtually) industry leaders and experts for a half-day of presentations and discussions on the legal and regulatory landscape affecting the IBT space. A highlight of the day was a review of lessons learned during the recent, first-of-its kind transaction under Oklahoma’s … [Read more...] about Insurance Business Transfer Workshop
The AIRROC NextGen Task Force met virtually in February to kick start 2021 events and to continue the planning for 2021 activities. On February 3rd, Matt DiSanto, Co-Chair of NextGen Task Force, presented at the AIRROC webinar "2020 Deals: The Year in Review." A joint presentation from PwC, Aon, and the AIRROC NextGen Task Force, the session reviewed 2020 global deal … [Read more...] about NextGen Task Force Corner