Broker Scandal Among RIMS Confab Issues
NU Online News Service, Feb. 15, 4:12 p.m. EST?Marsh Inc.'s settlement of price-fixing charges, broker contingency fees, and the Terrorism Risk Insurance Act are the three "Hot Topic" issues due for discussion at the next Risk and Insurance Management Society conference, the group said. [@@]
RIMS said its 2005 Annual Conference and Exhibition, will take place April 17-21, in Philadelphia, Pa.
"The Marsh Settlement?Should Policyholders Opt-in?" will take place April 18, at 3:30 p.m., RIMS said. A coverage attorney, claims consultant and broker representative will discuss the benefits, drawbacks and potential pitfalls to risk managers who are contemplating participation in Marsh's $850 million settlement with New York Attorney General Eliot Spitzer.
An April 19 session on "Broker Contingency Fees?What You Should Know," parts 1 & 2, will review types and amounts of contingency fees involved in placement service agreements and examine legal and ethical issues in evaluating broker services.
The fees session, sponsored by RIMS' External Affairs Team, will be moderated by James E. Crockett, manager of risk and benefits, Denver Water Department, and Janice Ochenkowski, senior vice president, Jones Lang LaSalle. This session will be open to RIMS deputy members only.
A panel representing various industry segments will participate April 20 in the "Terrorism Risk Insurance Act Update." Coordinated by Kristen McGregor, director of marketing at Wood and Bender LLP, with David E. Wood, partner, Wood and Bender LLP, as host, this session is for RIMS deputy members only.
RIMS also announced it will offer Spanish and Japanese sessions during its conference.
Spanish sessions, sponsored by RIMS' chapter in Mexico, provide risk managers an opportunity to discuss topics with industry experts from Latin America.
Issues to be discussed include: political, financial and new business operational risks in Latin America's emerging insurance market; challenges for Latin American company risk managers' operating in the U.S.; and how to improve the risk perception of a Latin American company to international insurers and reinsurers.
Japanese sessions, sponsored by RIMS' chapter in Japan, will provide risk managers an opportunity to discuss programs implemented in Japan with industry experts from that country.
To request a conference program and register for RIMS 2005, visit the Web site at http://www.rims.org/RIMS2005.
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