The property market is in turmoil. Insurers are raising rates, and some are withdrawing capacity and tightening underwriting criteria. What factors are driving these trends and how can brokers and insurers best prepare their clients for rough renewals? This session will provide an overview of recent developments and the impact they are having on insurance buyers.

• Michael Andler, EVP, Lockton
• Gary Marchitello, Chairperson, North American Property Practice, Willis Towers Watson

A panel of risk managers will discuss the volatile property insurance market and their response to rising rates and disruptions in capacity. Panelists will provide a candid assessment of marketplace participants, and the substance and quality of their interactions with brokers and underwriters during this challenging period. They also will offer advice on communicating with senior management.

• Erik P. Nikodem, Senior Vice President, Head of Property, Everest Insurance [Moderator]
• Stephanie J. Hyde, Executive Director, PE-RISK
• Steven Lawrence, Associate Treasurer, Risk Management, Columbia University
• Theresa Purcell, Director of Risk Management, Kushner

What is driving the disarray in the property market? Underwriters and brokers will discuss the forces at work on the property insurance market, the reasons behind rising premiums and reduced capacity, and what buyers can expect in the coming months.

• Duncan C. Ellis, Head of Retail Property, North America General Insurance, AIG [Moderator]
• Brenda (Ballard) Austenfeld, President – National Property Practice, Managing Director, RT Specialty
• Maria Grace, Vice President, Chief Underwriting Officer – Property& Inland Marine, Everest Insurance
• Michael A. Nardiello, Senior Vice President, Global Property Underwriting, National Accounts Property, CNA
• Damian S. Smith, Senior Managing Director, Palmer & Cay
• Nicholas M. Trent, Managing Principal, EPIC

The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is set to expire Dec. 31, 2020. If the past is an indication, Congress will not act on this critical legislation until the very last minute. What are the implications for underwriters and risk managers? Our panel of experts will look at issues lawmakers will likely consider in their deliberations, possible scenarios ranging from non-renewal to an on-time renewal with no material changes, and what insurance buyers can be doing today to manage uncertainty.

• Wendy Peters, Executive Vice President, Global Terrorism Practice Leader, Willis Towers Watson [Moderator]
• Alexander Baker ACII, Underwriter – War, Terrorism and Political Violence, AXA XL
• Tarique Nageer, Terrorism Placement Advisory Leader, Marsh
• Scott Williamson, Vice President & Director of Financial Analytics, Reinsurance Association of America

Climate scientists warn that the effects of climate change are already evident in phenomena such as shrinking polar ice caps. What are the likely impacts of climate change on property losses? Are natural catastrophes likely to become more frequent and more severe? Is climate change already a variable in modeling catastrophe exposures? How are underwriters responding? This session will examine the characteristics of climate change, the time frames in which changes are expected to occur, and the likely effects on property loss experience.

• Matt Booker, SVP, US Property UW Mgr, Major Accounts Division, Chubb [Moderator]
• Dr. Pete Dailey, Vice President, RMS
• Katherine Klosowski, Natural Hazards and Structures Manager, FM Global
• Jay DeVincentis, Regional Property Leader – East Region, Zurich North America
• Dr. Peter Sousounis, Director of Climate Change Research, AIR

Catastrophe bonds and other forms of insurance-linked securities have transformed the property catastrophe reinsurance market, and capital market-backed solutions are now making their way into the primary property insurance domain. Additionally, features of some ILS products such as parametric triggers are now incorporated in products offered by conventional insurance companies. Our panelists will provide a survey of the ILS market and discuss how ILS products and innovations are likely to become commonplace, and how they will provide sophisticated insurance buyers with new alternatives for managing property risk.

• William Dubinsky, Managing Director & CEO, Willis Securities, Inc [Moderator]
• Evan M. Glassman, President & CEO, New Paradigm Underwriters
• Joanna Syroka, Senior Underwriter & Director of New Markets, Fermat Capital Management

As an introduction to our View From the Top session, Marya Propis will discuss how Spencer is funding tomorrow’s risk management and insurance leaders.

•  Marya Propis, Senior Vice President, Director of Distribution and Broker Partnerships, All Risks/ Chairperson, Spencer Educational Foundation

This popular feature of Advisen conferences brings together industry leaders to share insights into the insurance market, with an emphasis on balancing insurance company profitability with customer needs and expectations. These senior executives also will share their thoughts on how property business fits into their company’s long-term strategy and the desirability of property insurance compared to various liability lines in the current market.

• Lori Seidenberg, Director Global Real Assets Insurance, BlackRock [Moderator]
• Paul Horgan, Head of U.S. Commercial Insurance, Zurich North America
• Chris Maleno, Senior Vice President, Chubb Group & Division President, North America Field Operations, Chubb
• Joseph Peiser, Executive Vice President, Global Head of Broking, Willis Towers Watson
• Ken Riegler, President of North America General Insurance, Product & Field Management, AIG