These are challenging times for the insurance industry. As a cloud of uncertainty hangs over the economy, insurance companies must navigate through a new economic landscape. At the same time, the industry is bracing itself for an expected wave of regulatory reform at the state and federal level driven by the economic crisis. For most companies, 2009 will be anything but business as usual.

Foley & Lardner LLP, Raymond James & Associates, Inc., SMART Business Advisory and Consulting, LLC, and Advisen Ltd. hosted the 2009 Insurance Economic Summit: Navigating the New Business Landscape. In this one-day conference, insurance industry leaders and attorneys discussed the impact of the financial crisis and offered strategies to help minimize exposure and seize opportunities in this changed economic environment.

2009 Insurance Economic Summit Keynote Address
As the U.S. Congress prepares to substantially overhaul the financial services industry, U.S. Rep. Melissa Bean (D-Ill.) discussed the federal government’s role in the regulation of insurance, including the creation of an optional federal charter. SESSION MATERIALS National Insurance Consumer Protection Act - Fact Sheet National Insurance Consumer Protection Act (H.R.1880) - Full Text
State of the Industry
James Auden, Managing Director, Fitch Ratings North American Insurance Group discussed: An overview of the current economic health of the insurance industry Expected ratings activity in 2009 SESSION MATERIALS Presentation View Session
Enterprise Risk Management — An Escalated Focus
David McRoberts, Senior Managing Director, Accounting and Assurance Services, SMART discussed: What is enterprise risk management (ERM)? Evolution of ERM and its emerging corporate and regulatory focus in light of the financial crisis Case study on an insurer’s approach to rolling out an ERM initiative SESSION MATERIALS Presentation View Session
M&A Opportunities and Capital Formation in a Down Economy
Speakers: Thomas Hrdlick, Partner, Foley & Lardner LLP Mark Peterson, Senior Vice President, Raymond James Andrew Ingley, Vice President, Raymond James Topics included: Capital, Capital, Wherefore Art Thou Capital? Capital Formation in a Down Market Deal or No Deal? Pursuing M&A Strategies in a Down Market Keeping It Real: Comments and Q&A SESSION MATERIALS Presentation View Session
Recent and Expected Regulatory Reforms
Speakers: Kevin Fitzgerald, Partner, Foley & Lardner LLP Christopher Longeway, Allstate Insurance Company Kimberly Shaul, Deputy Commissioner of Insurance, State of Wisconsin Randy Wichinski, Managing Director of Insurance Tax Services, SMART Topics included: An overview of expected federal initiatives that could re-shape the insurance industry A look at state and National Association of Insurance Commissioners (NAIC) initiatives driven by the economic crisis Panel discussion: Federal Regulation – Threat or Opportunity? SESSION MATERIALS Presentation Listen to Session
Insolvency 101 — A Refresher Course to Minimize Exposure
Speakers: Key Coleman, Managing Director, SMART Debra Hall, Principal, Global Regulatory & Risk Consultants Brian Kaas, Partner, Foley & Lardner LLP James Schacht, Principal, Schacht Group, and former Director, Illinois Division of Insurance Topics included: Tips for minimizing exposure to distressed or insolvent companies Runoff and restructuring strategies Overview of state receivership laws and the role of state guaranty funds SESSION MATERIALS Presentation View Session
Claims Exposure From the Economic Crisis
Moderator: Ethan Lenz, Partner, Foley & Lardner LLP Panelists: David Bradford, Co-Founder and Executive Vice President, Advisen, Ltd., and Editor-in-Chief, RIMS Benchmark Survey Dan Kugler, Corporate Risk Manager, Snap-On, Inc. and Board Member, RIMS Dan Fortin, Senior Vice President, CNA Specialty Lines Topics included: Claims that have arisen from the crisis New claims that may be on their way Financial impact of crisis-related claims on an insurer’s bottom line SESSION MATERIALS Presentation View Session