Extract from. Études et Dossiers No th International Liability Regimes Conference of The Geneva Association

Transcription

1 International Association for the Study of Insurance Economics Études et Dossiers Extract from Études et Dossiers No th International Liability Regimes Conference of The Geneva Association Economic Loss A Breeding Ground for Liability Risks October 2011 Munich This document is free to download from The Geneva Association website, January 2012 Working Paper Series of The Geneva Association Association Internationale pour l'etude de l'economie de l'assurance The Geneva Association - General Secretariat - 53, route de Malagnou - CH-1208 Geneva Tel.: Fax: secretariat@genevaassociation.org -

2 The Geneva Association Working Paper Series Études et Dossiers appear at irregular intervals about times per year. Distribution is limited. The Études et Dossiers are the working paper series of The Geneva Association. These documents present intermediary or final results of conference proceedings, special reports and research done by The Geneva Association. Where they contain work in progress or summaries of conference presentations, the material must not be cited without the express consent of the author in question. The opinions expressed in Geneva Association newsletters and publications are the responsibility of the authors. We therefore disclaim all liability and responsibility arising from such materials by any third parties. This document is free to download from The Geneva Association website, please visit:. Layout & Distribution: Valéria Pacella The Geneva Association Association Internationale pour l'etude de l'economie de l'assurance

3 The Geneva Association s 8 th International Liability Regimes Conference Economic Loss A Breeding Ground for Liability Risks Munich, October 2011 Hosted by Munich Reinsurance Company Ltd., at Munich Re Main Building Königingstr. 107, Germany Day 1, Thursday, 27 October :00 Arrival, Check-In 12:00 Lunch Buffet 14:00 Welcome and Introduction Programme Dr Peter Röder, Member of the Board of Management, Munich Re 14:30 Link Between the 7 th Annual Liability Regimes Conference and the 8 th Annual Liability Regimes Conference Patrick M. Liedtke, Secretary General and Managing Director, The Geneva Association 15:00 Opening Session: The Range of Economic Loss after Man-Made Disasters Session Lead: Nicholas Roenneberg, Head of Claims Management & Consulting, Munich Re Pure Economic Loss after Man-Made Disasters: An overview Dr Ina Ebert, Professor, Leading Expert, Munich Re Why pure economic loss is different; Categories of pure economic loss after man-made disasters; The connection between liability for economic loss and first-party-cover for economic loss: o pure economic loss like shareholder-/d&o-claims without any connection to bodily injury/property damage; o pure economic loss with some connections to bodily injury/property or environmental damage; and, 0-1

4 o pure economic loss as a direct consequence of bodily injury/property or environmental damage. Pure Economic Loss after Industrial Accidents (especially Deepwater Horizon) Dr Richard Lazarus, Professor, Harvard University Law School Pure Economic Loss and Liability Insurance Hermann Kramer, Head of Corporate Underwriting Casualty, Munich Re The connection between the limits of liability for economic loss and the limits of insurability in liability insurance; and, The connection between liability for economic loss and first-party-cover for economic loss. 19:00 Dinner at Dallmayr Restaurant Day 2, Friday, 28 October :45 Session II: Extreme Events and Climate Risk Session Lead: Walter R. Stahel, Head of Project on Climate Risk and Insurance, The Geneva Association Experts Panel: Moderator: Patrick M. Liedtke, Secretary General and Managing Director, The Geneva Association Panellists: Ed Heffernan, Senior Vice President of International Government Relations, XL Capital Ltd. Dr Richard H. Murray, Chairman of the Liability Subcommittee on Climate Risk and Insurance Project, The Geneva Association Dr Lindene Patton, Chief Climate Product Officer, Zurich Financial Walter R. Stahel, Head of Project on Climate Risk and Insurance, The Geneva Association Experts Interventions: The context of recent climate risk perspectives and conditions: messages from LR 7.0; 2011 Annis Horribilus for extreme weather events and their impact on the public mind; The lessons of the Japanese earthquake and its consequences; L Aquila the first of new science liability claims? Cancun and beyond global resilience initiatives and developments of 2011; New wine into old bottles the key legal developments of 2011; and, How will insurers be viewed by the political class as extreme weather losses mount? 0-2

5 10:45 Coffee Fundamental Challenges for Insurers Arising from Extreme Events Have underwriting attitudes been influenced by developments of the past year? Do climate risk extreme events have influence on regulatory issues facing insurers? Is the science of climate change relevant to insurers? Will climate-related extreme events have impact on other sources of extreme events? Reflections on the pure economic loss lessons from Session I for the future of climate risk; and, What are the most significant challenges for insurers arising from extreme weather and related events? 11:00 Session III: Brand Reputation: Increasing Value, Increasing Risk? Session Lead: Mary Merkel, Casualty Chief Underwriting Officer, Zurich Financial Features of the Brand Risk Landscape Simon Plumridge, Global Head of Product Recall, Zurich Financial Globalisation of supply chains, brands and markets; Media & social networking; and, Brand dependencies. Detecting Brand Value and Reputational Risk: What is it? How can we measure it? Roland Schatz, Founder & CEO, Media Tenor International AG Quantifying brand value; Building and protecting brand resilience; Case studies; and, The value of quantified reputation data. Experts Panel: Moderator: Mary Merkel, Casualty Chief Underwriting Officer, Zurich Financial Panellists: Tim Luckett, Managing Director, Issues & Crisis Management, Hill & Knowlton, EMEA Simon Plumridge, Global Head of Product Recall, Zurich Financial Roland Schatz, Founder & CEO, Media Tenor International AG Johanna Weber, Head of Media Relations, Munich Re 13:00 Lunch Buffet 0-3

6 14:00 Session IV: Evolving Issues Related to Intellectual Property Session Lead: Jennifer Stevens, Managing Director, Head Casualty Centre, Swiss Re Speakers: Jennifer Stevens, Managing Director, Head Casualty Centre, Swiss Re Nick Gibbons, Partner, INCE & CO International Law Firm Sources of economic losses related to IP; Political and legal developments; Exposed industries and related risks (reputational risk, business interruption/loss of freedom to operate, financial loss, loss of assets); Relevant litigation; Relevance for insurance industry; Potential IP evolution; Cybercrime; IP and cybercrime; and, Cybercrime and insurance. Experts panel: Moderator: Jennifer Stevens, Managing Director, Head Casualty Centre, Swiss Re Panellists: Nick Gibbons, Partner, INCE & CO International Law Firm Alisa Harbin, Head of Group Intellectual Property, Novartis Nicholas Studler, Head of Intellectual Property, Lindt & Sprüngli Ivan Mijatovic, Senior IP Counsel, Swiss Re Adrian Ebnoether, Senior Product Specialist Casualty, Swiss Re 16:00 Closing Remarks 0-4