Annual Conference Session Details

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03. Rising to the Challenges: Coverages & Innovation (Basic)

Date: 2021-08-10T00:00:00-04:00 Time: 10:30am-11:20am

Learning objectives: Session attendees will be able to:

 - Explain the impact of the hard market on the captive industry
 - Understand the ways by which captives can implement innovative solutions to address shortfalls in owner insurance protections caused by the
    vagaries of the market
 - Discuss the future impact on captive performance and operations as a result of adding new lines of business

Level: Basic

Prerequisite: None
Field of Study: Specialized Knowledge

Coordinators:  Susan Molineux, AM Best

Content Advisor: Dennis Silvia, Davies Captive Management


By all accounts, 2020 was a year like no other. An already hardening market, exacerbated by the advent of a global pandemic, created unique conditions which impacted the captive sector. Join this interactive session as we explore the impact of the hard market on captives and how they have responded, including the expansion of current coverages and adding new lines of coverage. Innovation and impact InsurTech on captives, and cyber security ramifications will also be covered. This session includes expert panelists from a single parent captive and a group captive, as well as an insurance regulator and a representative from a rating agency. Learn from their varied perspectives and real experiences and hear their prospective views for the industry's future. The impacts of COVID-19 will also be discussed, including retroactive coverages, common exclusions, business interruption, workers compensation, and general and excess liability, potential impact of government intervention and legislative initiatives. 



Scheduled Speakers:

John Andre

John is currently responsible for managing the United States based teams of analysts that follow regional US insurers, Caribbean based carriers, medical professional liability, captives, and specialty writers. Over his thirty plus years at AM Best, he has been involved with the analysis of wide variety of insurers in more than 90 countries. John has contributed to special reports and articles on insurance issues and been quoted in A.M. Best publications as well as for various external insurance industry outlets. Additionally, he has presented on insurance topics at a wide array of US and International industry events. He has previously worked in the finance areas of both Zurich Reinsurance and Beneficial Insurance Group. John holds a B.A. in Accounting and General Business Education from Montclair State College and an MBA from William Paterson University.

Andrew R. Baillie, FIRM, AMCT, FCII

Andrew Baillie is the Program Director of Global Insurance for the AES Corporation, a global power producer and distributor headquartered in Arlington, Va., with operations in 15 countries around the world. Andrew supports risk management oversight and the procurement of insurance for The AES Corporation for development and operational assets globally as well as managing the company’s large, Vermont-based Captive Insurance Company. Andrew has worked for AES since 2006, during which time the company’s risk management and insurance programs have developed to become world leaders among energy industry peers. In addition to almost 20 years of experience in global insurance program management, Andrew has been a regular presenter at conferences and events.

Joe Carter

Joe Carter sets the strategy for UE’s growth, which includes planning the sales, marketing, and distribution strategies that ensure success. He is also responsible for teams that manage UE’s brand and constituent experience strategy, the Voice of Constituent (VOC) program, digital experience, member support, marketing, and communications. Prior to joining UE, he served in executive and leadership roles at Bank of America, Prudential Property and Casualty and Allstate Corporation. He currently serves as a board member for the National Business Officers Association headquartered in Washington, D.C., and is an active member of several other education-focused associations.

Dan Petterson, CPA, SPIR, CFE

Dan Petterson is the director of Captive Examinations for the Vermont Division of Captive Insurance where he leads a group of 22 examiners responsible for ensuring that Vermont captive insurance companies are operating responsibly and in accordance with applicable rules and regulations. Before his transition to the Vermont Division of Captive Insurance, Dan spent four years with the Vermont Division of Insurance regulating traditional insurance companies as an administrative insurance examiner. Prior to becoming a regulator, Dan spent six years in public accounting, including three years with PricewaterhouseCoopers primarily in the insurance industry. Dan received an undergraduate degree in accounting from Castleton State College and a Masters in Business Administration from the University of New Hampshire.