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

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

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

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The annual meeting, to take place at the Fairmont SouthamptonHotel, will focus on the collapse of the subprime mortgage industryand the ensuing crisis of confidence, exposing weaknesses in arange of key investment vehicles that have destabilized otherwisestrong corporations.

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

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BCC commented that government regulators, investors, classaction plaintiff lawyers and others are sorting through potentialtargets and legal theories, issuing subpoenas and commencinglitigation.

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At the conference a panel of professionals across severaldisciplines will review and analyze the types of claims beingasserted, their frequency and severity, and the impact on variouslines of coverage.

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The panel will discuss considerations for captives in light ofunique claims and market conditions--including issues that shouldbe kept in mind when selecting which programs to place in a captiveand how effectively to deal with reinsurers in the hardening marketcycle, said BCC.

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

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Another scheduled session will present a panel of consultantsdiscussing use of quantitative processes and tools to support avariety of risk management practices, including: setting the rightrisk appetite for a company; valuing the impact of risks in anorganization; making the optimal risk financing decisions, such assetting the right limits and retentions; and getting the most outof captives.

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

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

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