Hi there!

Thanks for visiting … and I hope supporting me for an excellent cause … plus a chance to win an iPod mini shuffle!

I have both my running shoes and swimming goggles on the ready! The BUPA Great Manchester Run on 26th May and the Great North Swim on 16th June. 

Why? I am looking to raise a massive £2,000 for my local branch of Samaritans where I volunteer both in the branch and at HMP Wandsworth.

Kingston Samaritans is part of the wider Samaritans organisation and our lines are available 24/7 to offer confidential emotional support to people who contact us. We respond to telephone calls, face to face visitors, emails and texts. We also train and support prisoners in a local HMP to be “Listeners” who support their fellow inmates.

Each branch is an independent charity and we have to raise our own funds locally to cover all our costs – currently about £35K a year. 

Last year we received 21,000 phone calls, 2000 emails & 250 face-to-face callers. We regularly recruit new volunteers and fully train them in preparation for responding to our callers. We visit schools, colleges, universities & other groups.

Through Virgin Money Giving, you can sponsor me and donations will be quickly processed and passed to Kingston Samaritans, without any deduction. Virgin Money Giving is a not for profit organisation and will also claim gift aid where the donor is eligible for this.

Need an extra incentive to sponsor me? Submit the closest guess for my combined times for the 10k run around Manchester and a mile swimming in the stunning open waters of Lake Windermere and you might win an Apple iPod shufflle!! As a guide, last time I strolled a 10k and paddled a mile in the Thames the combined time was a leisurely 119 minutes. I plan to lower that, but will I? If so by how much?

I will post update blogs periodically, but my trainers Mo Farah and Rebecca Adlington are sworn to secrecy as to my progress and probable times!

I massively appreciate all your support and thank you for any donations!

Kindest regards,

Julian

Case Study 1

JTW were instructed by the US subsidiary of a major European insurance and reinsurance carrier. The company had written workers compensation programme business, generally with per occurrence and aggregate limits. Our review indicated that per occurrence limits had not been correctly applied in a number of instances, including the impact of a tornado where a loss date for one employee had been entered incorrectly but we were able to establish that it was part of the same loss (which had already exceeded the per occurrence limit). We also determined that a number of claims related to a statewide power outage were not covered under the reinsurance contract. In addition, our accounting review indicated that the company had exceeded the aggregate limits for a number of contracts, but was still reimbursing the insured. In total, our review saved the company in excess of $1m in respect of previously paid claims.

Case Study 2

JTW undertook an exercise for the reinsurance department of a major US reinsurance company, which had acquired several companies over the preceding 10 years. Our review involved researching the reinsurance contracts and premium and loss accounting records. We determined that a number of claims had not been billed to reinsurers and also that catastrophe reinsurance premiums had been overpaid because there had been no deduction in respect of business not covered by the reinsurance contract. In total, we saved the company over $2m being actual cash receipts.

Course Description

The Course will study catastrophe insurance and reinsurance, in terms of risk assessment, underwriting, loss evaluation, legal principles and reinsurance collections. Focusing entirely on the recent large catastrophes, this course will provide a forum for discussion surrounding the insurance, reinsurance and political implications.

Target Audience

This is a course designed principally but not exclusively for staff who are involved with catastrophe insurance and reinsurance, be it from an underwriting, claims, reinsurance collection or legal perspective. It is also ideal for those involved with assessing the risk factors impacting earthquakes and also those involved with loss assessments and reinsurance collections. The course level would normally be for individuals that have been working in a relevant insurance or reinsurance environment for at least three years.

Course Objectives

At the end of the course attendees will have a thorough understanding of these catastrophes and their impact upon local and international insurers and ultimately reinsurers.

Course Format

This will be a participative event, with a mixture of tuition and guidance together with practical exercises. Delegates will be encouraged to actively participate in the course through discussion with the course leader and the other attendees.

Course Content

• Understand the factors that gave rise to these catastrophes

• Assess the structural, property, business interruption and other insurable liabilities arising

• Review the legal principles arising, in particular those impacting time and event

• Consider new issues identified relating to business interruption

• How will catastrophe risk and insurance premiums be affected?

• Local versus international insurance issues

• How will the reinsurance marketplace be impacted?
Trainer Julian Ward

Julian Ward is a Fellow of the Chartered Insurance Institute. Through his own consultancies JTW Connect Ltd and formerly JTW Reinsurance Services Ltd he has for the past 20 years provided strategic management and reinsurance auditing services to the international insurance and reinsurance industry out of offices in London and Boston, and most recently Spain. Prior to that for ten years he worked with a similar specialist consultancy setting up the provision of reinsurance auditing and collection services in London and then New York. He began his career with Sphere Drake Insurance Management Company and brokers Benfield Lovick and Rees. He has provided in-house seminars to amongst others Lloyd’s, Equitas, The Hartford, Swiss Re, SCOR, PwC and KPMG. He has lectured on the subjects of reinsurance collections, reinsurance auditing and dispute resolution strategies in the UK, France, Germany, Switzerland, Bermuda, Australia and throughout North America. In 2011 Julian spent time in Christchurch, New Zealand assessing first hand the earthquake damage and its impact upon the community there from a humanitarian as well as a financial and insurance perspective.

Duration: Half day

Date; 23rd January 2013

Time: 9.30 am – 1.00 pm

Venue: London Novotel Tower Bridge, EC3N 2NR

Fee: £195.00 +VAT (including refreshments and buffet lunch)

In-House Fee: £950.00 +VAT for up to 12 delegates

Bookings:To reserve a place on this course please contact Tony Gregory Telephone: +44 (0)1491 872 839 / +44 (0)7712 482 212 Email: tony.gregory@imc-seminars.com

With the continued growth in the number and scope of coverholder agreements entered into by the London and Lloyd’s markets, this conference provides an opportunity for delegates to learn and discuss the wide number of issues involved.  The conference will assess the risks of these facilities, their operation and how best to monitor and control them.

9.00 – 9.15                           Chairman’s Introduction

9.15 – 10.00                        Binding authorities – lessons from history

Julian Ward

• “every dubious fire and theft risk on the east coast”
• Carve-out or carve-up?
• Owning the cabinet but refused the key
• When recklessness becomes fraud

10.00 – 10.45                      Managing General Agencies and the MGAA

Jane Comerford

• The advantages of  MGAs  - specialisms and expertise
• Management of MGAs
• The regulation of MGAs in the UK
• The role of the MGAA

10.45 – 11.00                      Coffee

11.00 – 11.45                      Agencies, Authorities and Liabilities – A UK legal perspective

Tim Goodger

• Contractual Terms
• Liabilities of the parties
• Coverholders and ostensible authority
• Brokers and assumption of responsibility

11.45 – 12.30                      Coverholders and MGAs – a US Perspective

Bernie Heinze

—  Duties of Agents in the Transaction

—  Nature and extent authority

—  Placement of Errors and Omissions Coverage for Risks

—  Theories of Liability

—  Affirmative Defences

—  Proactive Solutions

12.30 – 1.30                        Buffet Lunch

1.30 – 2.1S                           Coverholder Auditing – a UK perspective

Andrew Smith

• Balancing compliance with risk reduction
• Audit check lists
• Practical tips and techniques
• Reports in – what next?

2.15 – 3.00                           Coverholder Auditing – a US perspective

Al Gray

• US MGA Auditing
• Differences between US and UK approaches
• Adapting coverholder audits for UK clients

3.00 – 3.45                           The Role of the Broker placing the Cover

David Stirling

3.45 – 4.00                           Tea

4.00 – 4.45                           Strategy and Regulation – a Lloyd’s perspective

Peter Montanaro

• Coverholders in Lloyd’s Strategic planning
• Factors in approving coverholders
• The responsibilities of managing agents

4.45 – 5.15                           Panel Discussion

The Speakers

Jane Comerford

Jane Comerford is General Manager of the Managing General Agents Association.  She started her career in specializing in Professional Indemnity Insurance for Lloyd’s brokers, the last nineyears with Willis.  She then joined Liberty Mutual (UK) as an underwriter and subsequently became a director. Her experience of start-ups commenced as the first employee of Arch in London. She then worked as COO for a Lloyd’s broker. She was involved in the start up of Thistle, an underwriting agency owned by the JLT Group.

Tim Goodger

Tim qualified as a solicitor with Elborne Mitchell in 1992, becoming a partner in 1999.  He advises on insurance and reinsurance law, both non-marine and marine. He regularly advises on the rights and liabilities of various professionals including those of insurance brokers and intermediaries as well as dealing with directors’ and officers’ liability and regulatory issues. Tim also leads Elborne Mitchell LLP’s insolvency team advising on corporate insolvencies in the insurance market.

Alan H Gray

Al Gray is Founder (1988) and Executive Vice President of Alan Gray, Inc.  Al has been involved in the insurance industry as a claims professional for over 40 years. In his current role at AGI, Al is still actively involved in the claims technical side of the business where he provides auditing, consulting, adjusting, and management services to a variety of organizations including Excess and Surplus Lines Insurers, Re-insurers and Self Insurers.  Specifically, he focuses on the areas of Professional Liability including  Accountants,  Legal and Medical Malpractice Liability as well as Products Liability, General Liability, Auto Liability and Co0nstruction Defect. Al is often retained as an expert witness on behalf of insurer clients, typically testifying in support of the carriers claims handling practices. Al is also actively involved in the Marketing and Business Development efforts of the Company.

Bernd G Heinze Esquire

Bernie Heinze is president and CEO of The Heinze Group, LLC an international litigation management, claims administration and audit facility, with offices in King of Prussia, Pennsylvania and London. He is also executive director of the American Association of Managing General Agents (AAMGA), representing the premier companies involved in the wholesale insurance distribution marketplace.  He serves on the Board of Directors of the International Litigation Management Association, and as its secretary and treasurer. He has been named twice as one of the “100 Most Powerful People in the Insurance Industry – North America” in 2001 and 2002 by the Insurance Letter and Insurance Distribution Magazine, and leads the Pennsylvania Delegation of the Business Advisory Counsel to the US House of Representatives.

Peter Montanaro

Peter Montenaro is head of The Delegated Authorities Team, Performance Management Directorate at Lloyd’s. The team handles and approves new coverholder applications at the point of entry to the Lloyd’s market and is also responsible for their ongoing review.

Andrew Smith

Andrew Smith is Marketing Director of Chiltington in London.  He has worked in the Lloyd’s market for over 25 years. Having spent 10 years as a LMX placing broker, he then set up a London office for Dallas MGA National Hole-in-One where he underwrote specialist contingency risks for 7 years before working for Chiltington, the consulting arm of Tawa plc. For the last 12 years he has developed and managed the coverholder audit book for Chiltington and undertaken audits throughout the world.

David Stirling

David Stirling is a main board Director of Crispin Speers & Partners along with its holding company CSP Holding.  Having commenced his career in the Lloyd’s Market in 1977 he’s seen divestment of Underwriting and Broking go full circle where today it is common to see the ownership and trading entities be fully aligned yet operating professionally.

Julian Ward

Julian Ward is a Fellow of the Chartered Insurance Institute. Through his own consultancies JTW Connect Ltd and formerly JTW Reinsurance Services Ltd he has for the past 20 years provided strategic management and reinsurance auditing services to the international insurance and reinsurance industry out of offices in London and Boston, and most recently Spain.  Prior to that for ten years he worked with a similar specialist consultancy setting up the provision of reinsurance auditing and collection services in London and then New York.

Fee                        £295.00 +VAT (including refreshments)

Bookings To reserve a place on this course please contact Tony Gregory

Telephone: 01491 872839 / 07712482212 or email: tony.gregory@imc-seminars.com

On behalf of Connie, Jane, yours truly and all at Unique Kidz and Co a massive THANK YOU to everyone for your fantastic support for my Manchester 10k run on May 20th! I shuffled round in a leisurely 67 minutes. Together we have raised £1,500 and counting. Well chuffed!

www.justgiving.com/runningforconnie

Undiscovered Andulacia in Spain – a place of legends and dreams!

With Jacqui Mahony

Following a successful career as an international reinsurance lawyer in London and Zurich, Jacqui has started a new venture in Andalucia, Spain where she now lives. She specialises in rural escapes and coaching, helping others looking for a break from their stressful lives.

Decompress amongst the ancient olive groves, soak up the uninterrupted views over the beautiful and dramatic landscape of the Sierra Sur.

Rejuvenate your body and mind with our special mix of activities, relaxation techniques and culture.

You will stay at Cortijo Las Salinas, a unique and impressive country villa with Roman origins built in the tra- ditional Andalucian style, nestled in the unspoilt olive covered hills of the Sierra Sur, between Granada and Cordoba.

It has been lovingly restored by its charismatic owners Steffi and Steve. It boasts a range of accommodation with facilities including: a crystal clear azure pool; a casita for al fresco dining; chill-out areas; an art studio and varied trails and walks in the surroundings.

• Saturday 16th June 2012 to Saturday 23rd June 2012
• Saturday 15th September 2012 to Saturday 22nd September 2012

Want to more? http://tinyurl.com/89re7k7

Construction of a four-storey building begun in Christchurch’s battered central business district last week – claimed to be the first since the devastating February earthquake.

Owners, contractors and Earthquake Recovery Minister Gerry Brownlee gathered at 271 Madras St, where work started on piles for the new building.

Building owner Grenadier Properties said it was the first multi-storey building to gain resource consent in Christchurch’s central-city red zone since the February 22 earthquake, which destroyed hundreds of building and left most of city’s heart fenced-off from the public.

The building replaces the old five-storey Harcourts Grenadier building, which was demolished after sustaining significant quake damage.

It will built around a steel frame with a largely glass frontage, with space for retail and a cafe on the ground floor. It will have a total floor area of 2904 square metres.

It has been designed to exceed the new tougher structural requirement imposed after the February earthquake.

While it is the biggest building project in the CBD red zone so far, work has already began on other new central city buildings including the nearby Latimer Hotel and the old Westende Jewellers site on Worcester St.

27 Jan 2012

Source: stuff.co.nz

An increasing number of insurance and reinsurance wordings contain clauses which not only allow a policyholder (or in the case of reinsurance the insurer) to cancel mid-term in the event of insolvency, but also in the event of a ratings downgrade.

There would appear to be no consistency within the market as to the wording of these downgrade clauses and thus to the trigger for activation and the options available. Some require a carrier to be downgraded by up to two rating classes, some one, others have options to allow cancellation if the carrier is merely put on “negative watch”. Some automatically require a return of premiums, others a commutation including crystallisation and settlement of outstanding losses.

The short term implications for a policyholder or an insurer should its protections be cancelled following a downgrade are foreseeable and capable of calculation. The longer term issues such as loss of future business through no longer being acceptable security are likely to have a far greater financial impact.

But what of the market as a whole? If a small number of key insurers/reinsurers suffer downgrades and cancellation clauses are automatically invoked, the financial security of those being protected will be negatively affected and they too may suffer downgrades. A domino affect and market spiral is very easy to envisage which might endanger the structure and security of the market as a whole. In which case the problem becomes a global one for regulators and the FSA.

Which clauses should a policyholder, broker, insurer, reinsured, reinsurer request or accept? Do syndicate and company compliance departments know precisely what is written into their current wordings? Have they considered and calculated the compliance and financial implications of various eventualities?

The devil is in the detail – and in the lack of consistency!