Welcome!

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Welcoming Remarks

Tom Ruggieri CEO

Advisen

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Thank you to our sponsors!

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Welcoming Remarks

Rebecca Bole Director of Editorial Strategy and Products

Advisen

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Keynote Address

Tom Bolt Director, Performance Management

Lloyd’s

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Agenda

• European Property and Casualty environment

• European D&O concerns

• Lloyd’s Financial Institutions D&O

• Looking Forward Concerns

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European Property and Casualty Environment

• More Than Ample Capital

• Marginal Investment Returns

• Flat economies leading to reduced original insurance volumes

• Increased Broker Concentration

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Top priority risk scores in 2013 – Europe Risk 1 High taxation 6.59 2 Loss of customers/cancelled orders 6.44 3 Changing legislation 5.94 4 Cost and availability of credit 5.86 5 Excessively strict regulation 5.80 6 Cyber risk 5.56 7 Price of material inputs 5.42 8 Rapid technological changes 5.41 9 Reputational risk 5.38 10 Corporate liability 5.29

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Top priority risk scores in 2013 – Europe 11 Poor/incomplete regulation 5.24 12 Government spending cuts 5.21 13 Theft of assets or intellectual property 5.20 14 Fraud and corruption 5.11 15 Inflation 5.05 16 Talent and skills shortage 5.03 17 Failed investment 5.02 18 Interest rate change 4.98 19 Insolvency risk 4.97 20= Corporate governance and internal oversight

failure 4.89

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European D&O Concerns • A sense that problems can be solved through

regulation

• No more state of the art defense

• Growing efforts to create class action type lawsuits within the legal systems

• The business of law versus the practice

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The macro view – the clear links

Deregulation

Globalisation

Culture

Crisis

Litigation

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Influencing factors..? The Usual Suspects

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Legal and Regulatory environment

are we any safer

Positive

- Dodd-Frank Act - Jackson Reforms - Morrison Decision

- Basel III - FPC/PRA/FCA

- AIFM - FATCA

Negative

- 3rd party Legal Funding - ATE

- Whistle Blowers - Increased Regulatory

investigations

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I’m afraid the answer is No

Is there another MIS-SELLING SCANDAL COMING OUR WAY ?

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- Crowd Funding - Packaged Accounts/Bank Fees

- Interest Only Mortgages - Seed Enterprise Investment Schemes

- Payday Loans - Card/Identity Protection Policies

- Pension Mortgages - Auto Enrol Pension Schemes

There are many…..

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Do we feel more comfortable ?

Prior Year

Deterioration

Economic Factors

Legal & Regulatory

Environment

Capacity

Deployment

Risk Selection

Coverage Breadth

Pricing Adequacy

Level of ComfortLOW HIGH

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Questions for the Day • How are underwriters and companies responding of

increasing extraterritoriality by the US and others?

• Is European D&O just US D&O with a masking veneer?

• How prepared are underwriters for the effects of increased Cyber risk on companies and management liabilities?

• How should underwriters address the issue of taxation now being treated as much of an ethical issue rather than a legal economic issue?

• Could the product better meet the needs of risk managers and companies?

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Be careful out there

Advisen’s Statistical View of the Marketplace

David Bradford President, Research & Editorial

Advisen

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For more information regarding the data presented

in this session contact support@advisen.com

The Risk Manager’s Perspective on the

Management Liability Market

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The Risk Manager’s Perspective on the Management Liability

Market Steve Fowler

CEO The Institute of Risk Management

Moderator

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• Steve Fowler, CEO, The Institute of Risk Management

• Peter den Dekker, Insurance & Risk Manager, VimpelCom • Chris McGloin, VP, Risk Management & Insurance,

Invensys

• Maurizio Micale, Director of Corporate ERM and Insurance Management, ST Microelectronics

• Ronny Weidhase, Group Liability Insurance and Risk Manager, Adecco

The Risk Manager’s Perspective on the Management Liability Market

Steve Fowler

IRM

The Risk Manager’s Perspective on the Management Liability Market

Peter den Dekker VimpelCom

Chris McGloin Invensys

Maurizio Micale

ST Micro

Ronny Weidhase

Adecco

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Morning Break

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Thank you to our sponsors!

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Class Action, Collective Action and No Action: Recent

Developments in European Shareholder Litigation

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Class Action, Collective Action and No Action: Recent Developments in European

Shareholder Litigation

Kevin LaCroix Executive Vice President

RT ProExec

Moderator

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• Kevin LaCroix, Executive Vice President, RT ProExec

• Noona Barlow, Head of Financial Lines Claims, Europe, AIG

• Isabelle Hilaire, Vice President, European Third Party Liability Product Manager, Chubb

• Hans Londonck Sluijk, Partner, Corporate Transactions, Houthoff Buruma

Class Action, Collective Action and No Action: Recent Developments in European

Shareholder Litigation

@Advisen

Class Action, Collective Action and No Action: Recent Developments in European

Shareholder Litigation

Kevin LaCroix

RT ProExec

Noona Barlow

AIG

Isabelle Hilaire Chubb

Hans Londonck Sluijk Houthoff Buruma

@Advisen

Enforcement Actions: Antitrust and Anticorruption Laws in Europe and Beyond

@Advisen

Enforcement Actions: Antitrust and Anticorruption Laws in Europe and Beyond

John Barlow Partner

Holman Fenwick Willan LLP

Moderator

@Advisen

• John Barlow, Partner, Holman Fenwick Willan LLP

• Philippe Aerni, Global Head Professional & Financial Services Director, Swiss Re Corporate Solutions

• James Cooper, Partner, Clyde & Co.

• Francis Kean, Executive Director of FINEX Global, Willis

Enforcement Actions: Antitrust and Anticorruption Laws in Europe and Beyond

@Advisen

Enforcement Actions: Antitrust and Anticorruption Laws in Europe and Beyond

John Barlow Holman Fenwick

Philippe Aerni

Swiss Re

James Cooper

Clyde & Co

Francis Kean Willis

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Conference Luncheon

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Thank you to our sponsors!

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Management Liability in a Global Business

Environment

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Management Liability in a Global Business Environment

Guillaume Deschamps Deputy Director, FINPRO Continental Europe

Marsh

Moderator

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• Guillaume Deschamps, Deputy Director, FINPRO Continental Europe, Marsh

• Cristiana Baez-Safa, Chief Underwriting Officer, Commercial Risks, XL

• Christoph Leuzinger, Global CUO Management Liability, Zurich

• Edward Smerdon, Partner, Sedgwick

Management Liability in a Global Business Environment

@Advisen

Management Liability in a Global Business Environment

Guillaume Deschamps

Marsh

Cristiana Baez-Safa

XL

Christoph Leuzinger

Zurich

Edward Smerdon Sedgwick

@Advisen

Management Liability Exposures of Private

Companies

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David Bradford President, Research & Editorial

Advisen

Moderator

Management Liability Exposures of Private

Companies

@Advisen

• David Bradford, President, Research & Editorial, Advisen

• Dominik Bark, Regional Manager of Financial Lines, EMEA, Zurich

• Klaus Stubkjaer Andersen, Head of FINEX Denmark, Partner, Willis

• Géraud Verhille, Head of Commercial Management Liability & Fidelity, AIG

Management Liability Exposures of Private Companies

@Advisen

Management Liability Exposures of Private Companies

David Bradford Advisen

Dominik Bark Zurich

Klaus Stubkjaer Andersen

Willis

Géraud Verhille

AIG

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Afternoon Break

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Thank you to our sponsors!

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D&O Coverage Issues

@Advisen

D&O Coverage Issues

Rebecca Bole Director of Editorial Strategy and Products

Advisen

Moderator

@Advisen

D&O Coverage Issues • Rebecca Bole, Director of Editorial Strategy and Products,

Advisen

• Henk Bakker, Chief Underwriting Officer, HCC Global

• Matthew Carr, Underwriting Director for Commercial D&O, ANV

• Nilam Sharma, Global Head of the Insurance Liability Group, INCE & Co

@Advisen

D&O Coverage Issues

Rebecca Bole

Advisen

Henk Bakker

HCC Global

Matthew Carr ANV

Nilam Sharma

INCE & Co

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The View from the Top

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The View from the Top

Tom Ruggieri CEO

Advisen

Moderator

@Advisen

The View from the Top • Tom Ruggieri, CEO, Advisen

• Thibaud Hervy, Co-Managing Director, HCC Global

• Peter McKenna, Financial Lines Leader EMEA, AIG

• Paul Schiavone, Global Chief Underwriting Officer, Special Lines, Zurich

• David Walters, Executive Director, Financial and Professional Risks, Gallagher London

The View from the Top Tom

Ruggieri Advisen

Thibaud Hervy

HCC Global

Peter McKenna

AIG

Paul Schiavone

Zurich

David Walters

Gallagher

@Advisen

• Issues protecting attorney client privilege- Confi agreements are not a solution, what should we do?

• Why is there not pre-emptive coverage for regulatory violations, at least Side A?

• Global issues driving local compliance creating lots of demands for middle management for local coverage. How should they handle?

• Directors want black and white coverage but coverage is complex and grey. How do we solve?

• Brokerage compensation needs transparency

RM Questions

Bolt’s Questions • Could the product better meet the needs of risk managers

and companies? • How are underwriters and companies responding to

increasing extraterritoriality by the US and others? • Is European D&O just US D&O with a masking veneer? • How prepared are underwriters for the effects of increased

Cyber risk on companies and management liabilities? • How should underwriters address the issue of taxation now

being treated as much of an ethical issue rather than a legal economic issue?