20 – 20 Hindsight What did it look like?
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2011 D&O Symposium
20 – 20 HindsightWhat did it look like?
Courtesy of Latty
New York City ~ February 2 & 3, 2011
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History of Your Favorite Underwriters (80+ years of
experience)• Young• Brash• Good Looking• Smarter than a Fifth Grader?• Athletes• Style• Family• Results = Today
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FLOODY
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JOEY O!!!
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RAFF
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OPEN DISCUSSION
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Rapid Fire
• Blue light special: Pay for 2, get 3 yrs• Deploying $25 Million ABC Capacity• Market Capitalization• Reinsurance• Rescission• Outside Counsel• Legal Expenses
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Who Knew?
• Actuaries• Risk Modeling• Executive Compensation• Jail or No Jail• Settle before Adjudication• Independent Directors• More or Less Sleep
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Beg 4 forgiveness
• Sixty (60) D&O Insurers• Building for tomorrow• Underwriting Criteria• Credit Market• Due Diligence• Decision Making
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HMMMMM
• Multi-year deals• Mid-term quotes• Enhanced broker compensation• Most concerning recent coverage
enhancement
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Hindsight and Foresight: The Crystal Ball
• Emerging failed bank issue• Industry consolidation• Biggest current frustration• Biggest current concern• Worst account-specific underwriting
decision you ever made
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Do Tell
• Are you each shrinking your books dramatically? What are you telling senior management?
• Are you pegging your 2009 loss ratios meaningfully higher than 2008 or 2007?
• Do you believe you can create a meaningfully better loss ratio than your peers over time?
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SuperBowl
• STEELERS
OR
• PACKERS
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AUDIENCE SPEAKS OUT
• Questions
• Concerns
• Observations
• Time for Cocktails