Annual Conference Session Details

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21. Managing Your Captive in a Social Inflationary World (Basic)

Date: 2021-08-12T00:00:00-04:00 Time: 10:00 am-10:50 am

Learning objectives: After completing this session, participants will be able to:
-Discuss and create familiarity with the concept of social inflation
- Define instances of social inflation
- Build knowledge with an acceptance of social inflation as a reality, and recognize that tools and strategies are required to work with the reality on a
   case-by-case basis
- Cite mitigating activities which can be utilized to manage the costly impact

Level:  Basic

Prerequisites: None
Field of Study: Specialized Knowledge


Moderator & Coordinator: John Ferrara, Ernst & Young LLP
Content Advisor: Danie Hanson, Aon
Social inflation is defined as a greater propensity to bring claims and larger settlement values associated with more serious claims. It has taken root in pronounced larger settlements over the last five to six calendar years. Social inflation has slowed down in many instances due to the pandemic and courts and economic activity moderation.


Scheduled Speakers:

John Ferrara, FCAS, MAAA

John Ferrara, FCAS, MAAA, is a senior manager at Ernst & Young. John has over thirty one years of experience including serving as the Chief Actuary and United States Board Member of a major insurer and reinsurer, the Chief Actuary of a reinsurance intermediary, the President of a Branch General Insurance Agency Operation and the lead actuary of a Bermudian actuarial practice for one of the major accounting firms. John’s work today focuses on captives, reinsurance and specialty insurance coverages as well as traditional pricing and reserving projects. John has a Bachelor Degree in Applied Math, Statistics and Mechanical Engineering from the State University of New York at Stony Brook.

Mollie K. O'Brien, Esq.

Mollie K. O’Brien is the Vice President of Claims and Litigation for Premier Insurance Management Services, Inc. (PIMS) and the American Excess Insurance Exchange (AEIX). Mollie is an attorney with 25 years of healthcare professional liability experience. Mollie began her professional career as a trial attorney defending health care providers. Prior to joining PIMS/AEIX, Mollie was Director of Claims for Coverys where she oversaw the strategic direction of high severity, complex medical liability matters across multiple jurisdictions. Prior to Coverys, Mollie served as SVP/General Counsel for Emergency Medical Associates (“EMA”, now Envision) and Superior Insurance Company RRG where she worked with over 20 hospital partners and the EMA physicians to reduce risk and manage claims in the face-paced, high severity emergency department setting. Mollie obtained her juris doctor from Seton Hall University School of Law, and her Bachelor of Arts from Fairfield University. Mollie maintains law licenses in New Jersey and Pennsylvania.

William Wilt

William Wilt is the president of Assured Research, a boutique research firm producing subscription content focused on business development, financial, legal, claim and other topics relevant to (re)insurance professionals. Clients of Assured Research include global and U.S. focused (re)insurers, brokers, and consulting firms writing or controlling some $175 billion in premiums. Assured Research also provides analytical content for the insurance investment community. Bill’s more than 30 years in insurance encompasses a range of professional roles. Bill began his career as an actuary at a major reinsurance company and continued in the actuarial profession at a Big Four accounting firm. He spent five years as a senior analyst at Moody’s Investors Service, followed by seven years at Morgan Stanley, where he was the lead equity analyst following over 20 (re)insurance stocks. Prior to forming Assured Research, Bill worked in corporate development at two insurance companies where he oversaw M&A, risk management and business development, as well as rating agency relations. Bill is a Fellow of the Casualty Actuarial Society, a Member of the American Academy of Actuaries, and a Chartered Financial Analyst with degrees from Franklin and Marshall College and New York University’s Stern School of Business.