NU Online News Service, May 9, 2:19 p.m.EDT--The Risk and Insurance Management Society, Inc.announced it will be conducting a seminar this week for a group of18 Central Asian insurance professionals.

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The event on May 12 titled "Key Issues in Risk Management," ispart of the Special American Business Internship Training (SABIT)program. The SABIT insurance program, which began April 23 and endsMay 21, began in Washington, D.C., with orientation sessions andvisits to relevant government agencies and trade associations.

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RIMS said the program will be instructing mid- to senior-levelexecutives of five Central Asian Republics: Kazakhstan, Kyrgyzstan,Tajikistan, Turkmenistan and Uzbekistan. The RIMS seminar for theinternational delegates will take place as part of a three-weekSABIT curriculum.

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"Risk management is a growing industry worldwide and this is awonderful opportunity to bring risk management to the forefront inthese countries, Jackie Hair, a RIMS director who chairs theprofessional development advisory committee, told NationalUnderwriter.

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Ms. Hair is senior director of worldwide risk management forIngram Micro Inc., in Santa Ana, Calif. She said the programprovides "more of an awareness of risk management in general."

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The delegates, screened and selected by the U.S. Department ofCommerce, represent senior managers and directors of insurancecompanies and regulatory agencies in Central Asia, including thechairman of an oil insurance company, heads of legislative andinsurance activity for ministries of finance and labor, chairman ofan insurance regulation board, and several directors of insurancecompanies, RIMS said.

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RIMS' agenda for the session includes discussion of principlesof risk management, financial management of insurers and anoverview of insurance specialty areas.

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According to SABIT, the Group Program will create a forum formanagers and insurance industry leaders in Central Asia to interactand build relationships with their counterparts in the UnitedStates. U.S. companies can provide industry insight and trainingand showcase their products and services to potential partners andcustomers from Central Asia.

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In addition, the delegation will be trained in business planningand cross-cultural communication. During the final three weeks, thedelegation will travel to select regions and cities across the U.S.to meet with leading financial services companies, state insurancecommissions, and other industry organizations and experts,according to the SABIT Web site.

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During the program, topics representing challenges to theCentral Asian insurance industry will be raised, includingregulatory structures; risk management and reinsurance;underwriting guidelines; claims, fraud detection and prevention;agents, adjustors and investigators; diversified activities ofinsurance companies; and insurance and the legal system.

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SABIT was initiated by former Secretary of Commerce Robert A.Mosbacher during a September 1990 presidential business developmentmission to Moscow. It followed up on a pledge made by PresidentGeorge H.W. Bush at the 1990 Malta Summit to support the SovietUnion's transition to a market economy.

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SABIT will cover the majority of program costs for alldelegates, including travel, housing and meals.

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For information on participating as a host company, contactPatrick Brennan, Marketing Coordinator at (202) 482-2077.

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