Agenda 

Click on the presentation links in the agenda below to view and download the speaker presentations.

Monday, October 5, 2009
8:30 am – 9:00 am	Breakfast and Registration
9:00 am	Welcome remarks
9:00 am – 9:45 am	A conversation about risk: What keeps you up at night? A year has passed since the most harrowing days of the financial crisis.  What lessons have we learned about risk?  Is another systemic failure possible? Helen Galt SVP, Company Actuary & Chief Risk Officer Prudential Financial, Inc. Moderator: Michael A. Hughes Principal, Insurance and Actuarial Advisory Services Ernst & Young LLP
9:45 am – 10:30 am	Knowing it all Do you have all the information you need to manage risk at an enterprise-wide level?  Is it even possible to be aware of every potential risk your company faces at any given moment?  Given the vast number of risks out there, that certainly seems like a tall order.  How do savvy risk professionals keep their fingers on the pulse of risk?  Is ERM the answer? Melissa A. Salton, FCAS, MAAA SVP & Chief Risk Officer Munich Reinsurance America, Inc.
10:30 am – 11:00 am	Refreshments
11:00 am – 11:45 am	Reputational risk: the insurance industry’s public image and the bottom line The insurance industry has an image problem. They’re mistrusted by the public, often maligned in the press, targeted by politicians, and generally misunderstood. As a result there’s increased regulation, more court challenges, difficulty recruiting talent, higher expenses, slower growth, and a lower bottom line. What can the industry do to turn things around and get some much needed cred? Sam Friedman Group Editor-in-Chief National Underwriter Property & Casualty
11:45 am – 12:30 pm	ERM through the looking glass Louis Carroll famously said, “If you don’t know where you’re going, any road will get you there.”  He could have been talking about the dilemma many companies face when they don’t have their objectives and risk tolerance clearly defined.  How are you defining both with your organization, and what impact has it had on your bottom line? Douglas A. French Managing Principal, Insurance and Actuarial Advisory Services Ernst & Young LLP
12:30 pm – 1:45 pm	Networking lunch
1:45 pm – 2:30 pm	ERM’s place at the table: can we do strategy without it? Risk management should inform every decision a company makes, especially when it comes to the strategic planning process.  Without it choices are made in a vacuum.  What role does risk management play when it comes to strategic planning within your organization?  If there’s still work to be done in this area, what can you do to more fully integrate ERM? John A. Beckman, FCAS, MAAA SVP & Chief Risk Officer CNA Insurance
2:30 pm – 3:15 pm	But does it all add up? Insurance companies have a leg up on the rest of corporate America when it comes to risk management because they’re in the business of risk.  They know how to evaluate and quantify risks better than most.  Yet, most would probably agree that they’re not completely there yet.  Are you certain you’re completely quantifying your company’s risks?  If not, you may be missing out on some interesting opportunities.  What’s the best way to quantify the risks your company faces? Mark C. Abbott, PRM Managing Director, Quantitative Risk Managment Guardian Life
3:15 pm – 3:45 pm	Refreshments
3:45 pm – 4:30 pm	The sum of our parts In our global and highly interconnected world doing business inside of silos no longer makes sense.  We need a more holistic view of risk across all functions and business units, yet departments may operate independently, without much sense of their interconnectedness to the greater whole.  Do all your company’s business units fully understand their contribution to the bottom line and the impact their risks may have on other parts of the enterprise? Carol L. Siegfried Chief Risk Officer Americas Zurich Financial Services Ltd.
4:30 pm – 5:30 pm	Special address: the rating agency’s view of ERM Rating agencies recognize that being able to manage risk well can have a direct impact on a company’s credit rating.  As enterprise risk management’s role grows, some rating agencies are developing criteria and methodology for judging how well your company manages its risks. Mark Puccia Managing Director Standard & Poor’s
5:30 pm – 6:30 pm	Cocktail reception
Tuesday, October 6, 2009
8:30 am – 9:00 am	Breakfast
9:00 am – 10:00 am	Keynote address: The Law of Risk and Light Why do you look at risks the way you do, and how do your choices impact the marketplace?  In Akira Kurosawa’s masterpiece, “Rashomon,” witnesses all see the same event but recall it very differently.  Volatility might keep you up at night, but your peers may be more concerned with ruin.  It’s impossible to focus on every possible risk, but those that you ignore – or leave in the dark – can grow, until they become big enough to give you (and everyone else) a nasty surprise.  How do varying risk views impact choices made in the marketplace?  What can we learn from this to make better decisions? David Ingram, CERA, FRM, PRM Senior Vice President Willis Re
10:00 am – 10:45 am	ERM and regulatory reform In the wake of the financial crisis it has become clear that real reform will necessitate some fundamental changes to the current regulatory framework for the financial services industry.  The current regulatory system resembles a patchwork quilt of regulations, resulting in overlapping oversight as well as unregulated products and transactions.  To be effective, a modern regulatory framework must be built on a foundation of sound risk management principles.  How can our regulatory framework be designed to capitalize on an institution’s ERM practices?  Are regulators equipped to oversee how companies manage the risks they face?  Where do risk management and public policy intersect most effectively? Nancy Bennett, FSA, MAAA, CERA Senior Life Fellow American Academy of Actuaries
10:45 am – 11:15 am	Refreshments
11:15 am – 12:15 pm	Risks and the Global Economy Each year the World Economic Forum's Global Risks Report -- developed in collaboration with Marsh, Citigroup, Swiss Re, Zurich Financial Services and the Wharton School Risk Center -- identifies major global risks, assesses their economic impact, and recommends mitigation solutions.  This year's report focuses on the implications of the global financial crisis and highlights the interconnectedness of the world economy.  It cautions that the responses to the crisis will have long-term implications beyond the financial sector, particularly with respect to the risks of overregulation and diminished resources to address other key risks to global economic growth.  We will explore the findings of this important research, implications for strategic planning and firm-wide risk management, and methodologies for evaluation and implementation of the recommendations that were a central discussion among CEO's at the World Economic Forum in Davos. Brian C. Elowe Managing Director, Global Risk Management Marsh
12:30 pm	Conference concludes