NU Online News Service, May 5, 3:30 p.m. EDT

Emerging issues as a result of the current economic climate, including fallout from the subprime debt and credit crises, will be discussed at the June 21-24 Bermuda Captive Conference.

The conference theme, "Rocket Science for Risk Management," is a "virtual handbook to risk management in today's uncertain economic times," according to a BCC statement.

The annual meeting, to take place at the Fairmont Southampton Hotel, will focus on the collapse of the subprime mortgage industry and the ensuing crisis of confidence, exposing weaknesses in a range of key investment vehicles that have destabilized otherwise strong corporations.

As risk managers spend more time preventing corporate financial stumbles, they now must examine what had previously been considered to be "safe" investment vehicles, BCC advised.

BCC commented that government regulators, investors, class action plaintiff lawyers and others are sorting through potential targets and legal theories, issuing subpoenas and commencing litigation.

At the conference a panel of professionals across several disciplines will review and analyze the types of claims being asserted, their frequency and severity, and the impact on various lines of coverage.

The panel will discuss considerations for captives in light of unique claims and market conditions--including issues that should be kept in mind when selecting which programs to place in a captive and how effectively to deal with reinsurers in the hardening market cycle, said BCC.

Also featured is keynote speaker Capt. Larry Brudnicki, commander of the U.S. Coast Guard ship that performed two dramatic rescues immortalized in the movie "The Perfect Storm."

Another scheduled session will present a panel of consultants discussing use of quantitative processes and tools to support a variety of risk management practices, including: setting the right risk appetite for a company; valuing the impact of risks in an organization; making the optimal risk financing decisions, such as setting the right limits and retentions; and getting the most out of captives.

The topic of alternative markets in the United States and the net effect of today's economic and insurance environment also will be discussed.

Full details of sessions and registration can be found at www.bermudacaptive.bm.

Special Reports /

BCC Confab Features 'Rocket Science' Risk Management

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