Annual Conference Session Details

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18. Business Interrupted: Post Pandemic Policy Lessons (Advanced)

Date: 2021-08-11T00:00:00-04:00 Time: 11:15 am-12:05 pm

Learning objectives: After completing this session, participants will be able to:
- Identify common gaps in coverage that resulted from the pandemic
- Understand the range of policy nuances that typically prohibited the desired coverage
- Formulate a plan to prepare your programs for a similarly catastrophic event using their captive
Level: Advanced
Prerequisites: Good understanding of captives and a basic understanding of the traditional P&C insurance market
Field of Study: Specialized Knowledge

Moderator: Peter Johnson, Spring Consulting Group

Coordinator: Christine Culgin, Spring Consulting Group

Content Advisor: Dawne Davenport, Marsh Captive Solutions
COVID-19 shed light on unanticipated, severe gaps in coverage for many businesses. This session will focus on the problems that came about, the lessons learned, and how to bolster your programs to prepare for a future catastrophic event. In a roundtable format, panelists will discuss the capacity of the market to handle Black Swan events, and why surprises emerged. We will highlight common coverage exclusions and how to handle them, across workers' compensation, medical malpractice, business income less and more. Finally, we will share solutions to cover these holes in insurance programs, with an emphasis on how your captive can help. Audiences will leave the session with a plan for addressing a future situation like COVID-19, and better insight into where and why their policies failed to protect them.

Scheduled Speakers:

Deyna Feng

Dan (Deyna) Feng is Director of Captive Programs with Cummins Inc., a global power leader, for over 5 years. Deyna is managing Vermont domiciled single parent captive – Dynamo Insurance Company, Inc. and running off programs of 4 offshore group captives. In addition to existing property and casualty lines in captive, Deyna is implementing adding all international employee benefits (IEB) of 60 countries into captive. Deyna also leads Cummins global risk mitigation, including global loss engineering, Business Continuity Planning (BCP) and supply chain resilience projects. Before this role, Deyna Feng was Regional Risk Manager for Asia Pacific for Cummins, based in Beijing, China for 4.5 years, including insurance procurement, risk mitigation, contract management, claim management and promoting risk management philosophy. Deyna Feng holds a bachelor degree of Economic Law, and Associate in Captive Insurance (ACI) designation certificate. Deyna participated in postgraduate study of Economics before relocating to the United States. In 2017, Deyna earned her 6 Sigma Green Belt and won the Finance Business Impact Award at Cummins. Deyna spoke at various captive conferences and RIMS. Deyna was newly awarded Power 20 of Captive Review Power 50 for 2020.

Peter Johnson

Peter Johnson, FCAS, MAAA is a Senior Actuarial Consultant with Spring Consulting Group, LLC and Spring’s Property & Casualty Practice Lead. He has over 15 years of actuarial experience in reserving, pricing, alternative risk funding, risk optimization, captive feasibility and reinsurance risk transfer work. This experience includes workers’ compensation, medical professional liability, professional liability, automobile, general liability, cyber liability, mortgage insurance and other enterprise risks. Peter was recently recognized by Business Insurance as a 2019 Breakout Award winner and in 2020, received Captive International’s Highly Commended Individual Actuary award. Peter also serves as a faculty member of International Center for Captive Insurance Education’s (ICCIE’s) actuarial course. Prior to joining Spring, Peter was the President and Consulting Actuary with Bartlett Actuarial Group and a Consulting Actuary with Milliman. Peter has given industry presentations, published articles and served on various committees in both the Casualty Actuarial Society and captive insurance industry. Peter earned a B.S. in applied math and computer science from the University of Wisconsin - Stout. He is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.

Melissa Updike

Melissa Updike is Executive Director of KMRRRG. She has professional experience in healthcare risk management and risk financing with healthcare organizations in acute care, clinic and long-term care settings. Melissa has extensive experience with alternative risk financing models, particularly captive insurance company arrangements. As Executive Director of KMRRRG, she is responsible for all captive operations for the healthcare professional / general liability risk retention reciprocal group. Annual premiums are in excess of $12M, and total assets are greater than $70M. Melissa earned her B.S., Business Administration from the University of Louisville, and a Masters of Jurisprudence in Health Law from Loyola Law School. She is a Licensed Property and Casualty Agent, Licensed Claims Adjuster, Certified Professional in Healthcare Risk Management and a Distinguished Fellow in the American Society for Healthcare Risk Management.