1. finance
2. personal finance
3. insurance

PCImonday_pp01_03_07_10_FINAL.qxp
10/26/2014
8:35 PM
Page 1
MONDAY
CONFERENCE NEWS | 2014 ANNUAL MEETING
Time of disruptive transformation
sets stage for 2014 conference
IN BRIEF
International group unveils
capital requirements for insurers
The International Association of
Insurance Supervisors has
developed the first global insurance
capital standard, the Basel,
Switzerland-based group of
international insurance regulators
said. Known as the Basic Capital
Requirements for Global
Systemically Important Insurers,
standards initially would apply to
Allianz S.E., American International
Group Inc., Assicurazioni Generali
S.p.A., Aviva P.L.C., Axa S.A.,
MetLife Inc., Ping An Insurance
(Group) Co. of China Ltd., Prudential
Financial Inc. and Prudential P.L.C.
U.S. property/casualty insurers
tap reserves most since 2007
U.S. property/casualty insurers
tapped policyholders’ reserves in
2013 to bolster profitability the
most since 2007, according to the
2014 “Insurance Risk Benchmarks
Research: Annual Statistical
Review.” The report was released
Sunday by Marsh & McLennan Cos.
Inc. subsidiaries Guy Carpenter &
Co. L.L.C. and Oliver Wyman.
Another key finding is that total
P/C industry premiums increased by
4.4% in 2013 over 2012.
XL North America names
North America P/C COO
XL Group P.L.C. has named Donna
Nadeau chief operating officer of
North America property/casualty.
She will manage the operational
functions of XL Group’s North
America property/casualty business, including property, excess/
surplus, environmental, construction, excess casualty, programs
and global risk management.
OCTOBER 27, 2014
BY MARK A. HOFMANN
T
he theme of this year’s Property Casualty Insurers Association of America’s annual
conference — “Leading in an Age
of Disruptive Transformation” —
comes at a time when the insurance industry, the nation and the
economy face a period of accelerating change.
“Uncertainty has manifested
itself full-blown into an era of
disruptive transformation,” PCI
President David Sampson said.
“We don’t develop these conference themes in a vacuum.”
“To have a conference that
talks about transformation and
recognizes that we have to be
part of it, or maybe ahead of it, is
a useful theme,” incoming PCI
Chairman Terry W. Cavanaugh
said.
“Obviously, we’re (the insurance industry) a big part of the
economy,” said Mr. Cavanaugh,
who is also president and CEO of
See THEME page 7
Outgoing chairman proud
of PCI’s thought leadership
BY MARK A. HOFMANN
T
he Property Casualty Insurers Association of America
is in great shape as he
makes an exit, outgoing Chairman Robert Restrepo said.
Mr. Restrepo, who is chairman,
CEO and president of State Auto
Insurance Cos. of Columbus,
Ohio, said that’s because PCI
President David Sampson has
“recruited and developed a terrific staff,” which has allowed
the group to be a thought leader
in the industry.
That’s been particularly important during the year of Mr.
See RESTREPO page 10
Robert Restrepo
PCI PRIORITIES
OUT & ABOUT
ON THE SCENE
Focus is on TRIA and
emerging risks
Scottsdale sights,
activities and dining
Photos from the area
and conference
PAGE 3
PAGE 6
PAGE 8
Entire contents copyright by Crain Communications Inc. All rights reserved.
Aon Benfield
As a trusted adviser, Aon Benfield utilizes
unmatched risk data and market insights to
reduce clients’ exposures. Visit aonbenfield.com
to learn how our award-winning teams provide
solutions to overcome even your greatest challenges
and steer your business on the best course.
Move
FORWARD
with a
TRUSTED
PARTNER
Risk. Reinsurance. Human Resources.
14bi0313.pdf
RunDate: 10/27/14 PCI SD
Full Page
Color: 4/C
PCImonday_pp01_03_07_10_FINAL.qxp
10/26/2014
8:35 PM
Page 2
MONDAY
OCTOBER 27, 2014
PCI DISPATCHES
Terrorism backstop extension,
financial regulations top PCI agenda
BY
MARK A.
HOFMANN
BY MATTHEW LERNER
Welcome to
PCI’s 2014
conference
E
ven though it was chosen
months ago, the theme for
this year’s annual meeting —
“Leading in an Age of Disruptive
Transformation” — seems
particularly appropriate in light
of recent events.
Insurance executives find they
have no choice but to navigate a
sometimes trying new world.
Keeping up with ever-changing
technology demands constant
attention. The emergence of the
sharing economy and potentially
game-altering technological
changes such as driverless cars
present new challenges.
External disruptions such as the
Ebola outbreak and the
possibility of Islamic Stateinspired terrorism on U.S. soil
underscore the evolving
landscape of risk — and
opportunity.
This conference provides
numerous opportunities to learn
new lessons in leadership in
turbulent times. One speaker
alone — former Secretary of
Defense, CIA Director and Texas
A&M University President
Robert Gates — has the
experience of providing such
leadership under more trying
circumstances, than virtually any
other dozen people put together.
There’s no way to avoid the
turbulence that confronts the
insurance world and beyond.
This year’s conference appears
guaranteed to provide proven
guidance in how to deal with it,
and even prosper while doing so.
S
ecuring an extension of the
federal terrorism insurance
backstop created by the Terrorism Risk Insurance Act of 2002
tops the agenda for the Property
and Casualty Insurers Association of America, but it’s far from
the organization’s sole concern.
The insurer trade group has
considerably more on its plate,
including regulatory issues and
unforeseen aspects of emerging
ride-sharing businesses, PCI
President David Sampson said.
“The most important priority
for the remainder of 2014 is to
secure the reauthorization of the
Terrorism Risk Insurance Act,
which expires Dec. 31,” he said.
“That has been our top federal
legislative priority for this year.”
“I don’t think anyone believes
that it is in the best interests of
the nation or the economy, at a
time of significantly heightened
international terrorist threats
upon the homeland, that this pro-
David Sampson, president of the
Property Casualty Insurers
Association of America.
gram expire,” Mr. Sampson said.
He seemed optimistic that a resolution could be reached.
“There’s been a lot of progress
throughout the course of the
year,” he said, noting that the
Senate had approved reauthorization by a 94-3 vote and that
the House Financial Services
Committee passed a version of
the bill this summer.
“Every indication we have had
from our extensive and ongoing
visits with key leaders on the Hill
is that everyone recognizes this is
a ‘must do’ piece of legislation,”
Mr. Sampson said.
He pointed to the nearly unanimous nature of the Senate vote.
“It’s pretty miraculous when you
consider the gridlock and hyperpartisanship in Washington that
you could have an overwhelmingly bipartisan support for reauthorization of this federal backstop,” he said.
The question now is the “end
game,” Mr. Sampson said. “That
will be our top priority as we look
forward to Congress coming back
for the lame-duck session after
the (November) election.”
Also on the PCI agenda of critical priorities is “the continuing
global regulatory convergence
that would seek to impose onesize-fits-all bank-centric capital
See PRIORITIES page 10
Insurance firms cited as best workplaces
A
record 75 insurance industry companies were recognized in the 2014 Business Insurance Best
Places to Work in Insurance program.
Best Places to Work is a joint effort of Business
Insurance and the Harrisburg, Pennsylvania-based Best Companies Group.
The program, which involves months
of in-depth evaluation, is open to all public or privately held property/casualty
insurers, group life/health insurers, retail
agents and brokers, wholesale brokers/
managing general agents, reinsurers,
reinsurance brokers, benefits brokers
and advisers, and claims managers with at least 25
employees in the United States and serving the commercial insurance market.
This is the sixth year for the Best Places to Work
in Insurance program. Companies recognized this
year range in size from 30 to 8538 employees and
create workplaces in which employees can thrive.
Best Companies Group, an independent workplace
excellence research firm that manages
other industry and regional programs in
the United States and Canada, managed
the registration process, conducted the
surveys, evaluated the data and selected
the firms chosen as Best Places to Work
in Insurance. Each company had to
demonstrate a minimum standard of
excellence to earn a spot on the list.
Participation in the program was free. Participating companies can buy the BCG Employee Feedback
Report that summarizes data collected in the
employee survey process.
BUSINESS INSURANCE
PCI SHOW DAILY 2014
3
PCImonday_p04_FINAL.qxp
10/26/2014
8:21 PM
Page 1
MONDAY
OCTOBER 27, 2014
Insurance-linked
securities could
break record
STEVEN CHANG
MUNICH REINSURANCE CHINA CO.
Steven Chang is CEO of Munich Reinsurance China
Co. in Beijing. He joined American Re, part of Munich
Reinsurance Co., in 1997. From 2002 until 2008, he
was chief representative in Munich Re’s office in
Shanghai, before moving back to Beijing to become
deputy CEO of Munich Re’s Beijing branch office before becoming CEO a year
later. He spoke to Business Insurance Senior Editor Sarah Veysey during the
Rendez-vous de Septembre in Monte Carlo, Monaco. Edited excerpts follow.
BY MATTHEW LERNER
D
espite a slow third quarter for
insurance-linked securities
which only saw one transaction
come to market, 2014 will still likely surpass 2007’s record year for
these nonlife securities, according
to a report by Willis Group Holdings P.L.C.’s Willis Capital Markets & Advisory unit.
Third-quarter issuance “was
comparatively slow relative to the
record-breaking second quarter,
with quarterly issuance volume
the lowest since 2010,” according
to the report “No Surprises.”
The only third-quarter transaction was Golden State Re II,
which closed Sept. 16 and provides California’s State Compensation Insurance Fund, the state’s
largest workers compensation
insurance provider, with $250 million of fully collateralized workers comp coverage against California earthquake risks for a period of just over four years.
The latest quarter also pales
compared with the record-breaking third quarter of 2013, when
$1.4 billion of nonlife catastrophe
bond capacity was issued, Willis
said in a statement.
Senior Willis executives, however, remain confident that 2014’s
total will still surpass the just
over $7 billion issued in 2007.
The third quarter “followed a
robust issuance season with new
capital having already been
deployed. It will only take about
$1.2 billion more in 2014 to break
2007’s nonlife ILS issuance record,
so we believe this is incredibly
likely,” said Willis Capital Markets & Advisory CEO Tony
Ursano in a statement.
“We maintain our prediction of
a final tally between $8 and $9 billion of non-life ILS issuance,” said
Bill Dubinsky, head of ILS at
WCMA, in the statement.
4
PCI SHOW DAILY 2014
Munich Re China has specialty focus
Q
A
What is the reinsurance market
like in China?
In China, there are three segments to the reinsurance market: China Re, the governmentowned reinsurer that plays a dominant role in both life and property and casualty; seven reinsurers,
including Munich Re and Hannover Re Group, that
have opened up in
China; and companies
writing China business
from outside.
From a Munich Re
perspective, we always
position ourselves as a
premium provider. In my portfolio, about 80% of the business is
specialty based on bilateral agreement with buyers.
risk-based. For example, for natural catastrophe risk, the capital
requirements for reinsurers will
increase. We really welcome this
change because it is an alignment
with how we operate in the home
office.
Currently, for reinsurance
branch offices, no capital must be
held locally. But under the CROSS draft, we would
be required to establish
local capital. That is
quite a change for us,
but it will be an even
larger change for those
overseas companies
writing China reinsurance business because there will
be a credit risk capital charge for
those reinsurers that run on an
overseas basis.
Q
A
What effects are regulatory
changes having on the market?
Q
A
There are several regulatory
changes taking place. The
China Insurance Regulatory
Commission (with its China Risk
Oriented Solvency System slated
for finalization by the end of this
year, a transitional period in 2015
and full implementation in 2016)
decided to largely follow the
theme of Solvency II but made it
very clear that it had to reflect the
specifics of China.
At the moment, C-ROSS is very
BUSINESS INSURANCE
Are there any areas of business
that are ripe for development?
The government earlier this
year published a document on
how it thinks the insurance market can support the development
of the economy.
For natural catastrophe, we see
three layers of development.
First, the development of a
national natural catastrophe pool
— we will try to support the regulator and our clients to do
groundwork on that.
Secondly, the development of
regional natural catastrophe
pools — we’ll try to develop solutions at the provisional level.
And third, commercial natural
cat business — we actively support our clients there.
In the coming three to five
years, natural catastrophe will
become one of the most important
areas for the reinsurance industry in China.
And various liability classes —
for example, food security is a
very important topic, as is environmental liability.
Also, because of the development of the middle class in China,
there is great potential for personal lines business.
The challenge we have is the
need to develop the primary market knowledge. We think we have
the know-how to do it, and we
bring mature products from our
home office.
Q
How can companies increase
their penetration in the
Chinese reinsurance market?
A
A presence in the market is
very important, obviously. But
when you have a presence, you
have to understand the market
and judge how the market will
develop. We think that a local
team is important because you
can link culturally and be close to
the client.
Your
in-depth
knowledge
Our
unique
perspective
A clearer
view of what’s ahead
What will future economic and societal trends bring? What legal reforms may lie ahead? What
will their impact be? The past is not always helpful in forecasting the future. Our forward-looking
modelling is a radical new approach to assessing liability risks. It provides a unique perspective –
one that’s particularly useful in markets where past data is unavailable or unsuitable. It brings our
vision of what lies ahead into sharper focus. And it enables us to identify future casualty trends
together, anticipate the impact of developments, and manage future exposure. Looking for a
partner who’ll keep you ahead of the game? We’re smarter together.
www.swissre.com/pci2
Size 8.125X 10-7/8 - .125” bleed set up as 4 color - file: ARM-14-05220-P1-BUSINEES_INSURANCE_PCI-Dailie-10-6
PCImonday_p06_FINAL.qxp
10/26/2014
8:27 PM
Page 1
MONDAY
SCOTTSDALE CONVENTION & VISITORS BUREAU
OCTOBER 27, 2014
LOCAL
FLAVOR
BOOTLEGGERS
MODERN AMERICAN
SMOKEHOUSE
7217 E. First St.
Scottsdale
480-404-9984
For your inner meat lover, try the
signature Bacon Board or the 14hour hickory-smoked brisket, amid
the barn-wood walls and high,
wood-beam ceilings. With Chef
James Fox at the helm and Matt
Carter overseeing culinary
development, Bootleggers is the
place for the meat enthusiast.
THE
SIGHTS
I
BROWN’S CLASSIC AUTOS
f you’re looking for natural
beauty and a connection to the
land, The McDowell Sonoran
Preserve gives visitors the chance
to hike, climb and even explore on
horseback.
The preserve, protected by the
McDowell Sonoran Conservancy,
offers more than 100 miles of trails
for running, biking and riding. The
Bajada Nature Trail offers an
interactive experience on a halfmile barrier-free interpretive trail.
The conservancy encompasses
more than 30,000 acres with almost
130 miles of trails. Trailhead gates
are open from sunrise to sunset,
and there is no charge for parking
or access.
One of the most popular public
BROWN’S
CLASSIC
AUTOS
16066 N. 77th St.
Scottsdale
480-998-4300
For a more
industrial, manmade experience,
auto fans can visit
Brown’s Classic
Autos to see a vast
selection of automotive history. The dealership can provide everything from
retail sales and consignments to classic rebuilds and restorations.
6
PCI SHOW DAILY 2014
BUSINESS INSURANCE
McDowell Sonoran Preserve
18333 N. Thompson Peak Parkway
Scottsdale
480-312-7013
educational features is the
conservancy’s hike program, which
provides guided experiences with an
interactive opportunity for
volunteers to share their expertise
about what lives along preserve
trails, including Sonoran Desert
plants, wildflowers, wildlife and the
geology of the McDowell
Mountains.
Visitors also can take advantage
of rock climbing at the conservancy.
Climbers follow a rock-climbing
plan that includes designated trails
to historic climbing crags,
associated parking lots, and clear
and accurate signage.
Most trails in the preserve are
available for horseback riding,
which is a great way to visit some
of the remote areas.
In 2013, the preserve opened
Brown’s Ranch Trailhead in North
Scottsdale. The hike is a three-mile
round trip that provides great views
of Brown’s Mountain.
RUSTY SPUR SALOON
7245 E. Main St.
Scottsdale
480-425-7787
Ensconced in a registered historic
landmark — Farmers Bank of
Scottsdale, which operated from
1921 to 1931 and closed during the
Great Depression — the saloon bills
itself as the city’s “Last Real
Cowboy Saloon” and boasts a
celebrity clientele including John
Wayne and Clint Eastwood.
PCImonday_pp01_03_07_10_FINAL.qxp
10/26/2014
8:36 PM
Page 3
MONDAY
OCTOBER 27, 2014
THEME
Continued from page 1
Erie, Pennsylvania-based Erie
Insurance Group.
“Clearly we have to respond to
the consumer behavior we see,
the technology and innovation
that’s going on and we’ve got to
be part of that,” Mr. Cavanaugh
said.
Mr. Sampson said that each
year’s conference theme is chosen
by a group of executives of PCI’s
member insurance companies.
“The disruptive transformation
we’re seeing is occurring on
many fronts,” Mr. Sampson said.
These include regulation, technology and demographics.
Demographics must be confronted in two ways, he said.
“There is a changing demographic of consumers as well as a
changing demographic of the
workforce,” Mr. Sampson said. opportunities, Mr. Sampson said.
Companies need to know how to For insurance executives, the key
questions are “How do they need
adapt to both of those, he said.
In addition, “our member execu- to think in this age?” and “What
tives are going to have to navigate kind of questions do they need to
a state, federal and international ask?”
Organizations need to be preregulatory environment that is
rapidly changing,” Mr. Sampson pared to recognize the economic
opportunities that exist
said.
in a period of disruptive
At the same time, they
transformation, the PCI
are also trying to anticipresident said.
pate and innovate busi“What are the implicaness models.
tions for new business
For example, technolmodels” of such develogy is disrupting busiopments as the sharing
ness models a lot of the
time, he said, adding Terry Cavanaugh economy, driverless
cars and greater use of
that technology is
telematics? “How will they affect
“evolving at a lightning pace.”
The emergence of the sharing underwriting practices and priceconomy, with ride-sharing com- ing practices going forward?” he
panies such as Uber and Lyft asked.
Mr. Sampson said the conferbeing used by consumers via
mobile phone applications, is one ence’s featured speakers will
example of how technology is dis- address the issue from different
vantage points.
rupting business models.
Former Secretary of Defense,
This presents both threats and
CIA Director and Texas A&M
University President Robert
Gates today will address the disruptive transformation going on
internationally and how it is fundamentally unsettling the global
economy.
In his presentation, Mr. Gates
will examine the threats this
transformation presents to U.S.
national security. He’ll also speak
about his leadership approach in
helping large organizations adapt
during a period of disruptive
transformation.
Other conference speakers
include Luke Williams, professor
of innovation and executive director of the Berkley Entrepreneurship Center at New York University’s Stern School of Business;
Larry Sabato, election analyst
and founder of the University of
Virginia Center for Politics; and
demographer Neil Howe.
A lineup of timely panel discussions is also scheduled.
BUSINESS INSURANCE
PCI SHOW DAILY 2014
7
PCImonday_p08_FINAL.qxp
10/26/2014
8:31 PM
Page 1
MONDAY
OCTOBER 27, 2014
PCI
SCENE
SCOTTSDALE
■ 2 0 1 4 ■
8
PCI SHOW DAILY 2014
BUSINESS INSURANCE
EVENTS
KEYNOTE SPEAKER
Brian Duperreault
CEO of Hamilton
Insurance Group
Leadership Workshop & Awards Ceremony
December 9, 2014 - New York Marriott Marquis
JOIN US IN CELEBRATING
THE 9TH ANNUAL WOMEN TO WATCH
• Jennifer Barton, Willis North America Inc.
• Leah Binder, The Leapfrog Group
KEYNOTE SPEAKER
Sally Hogshead
World-class
branding expert
and best-selling author
• Beth Bombara, Hartford Financial Services Group Inc.
• Jacqueline Day, Control Risks Group Holdings Ltd.
• Marialuisa Gallozzi, Covington & Burling L.L.P.
• Dorothy Gjerdrum, Arthur J. Gallagher & Co.
• Cary Grace, Aon Hewitt
• Tracie Grella, American International Group Inc.
SPONSORS
P L AT I N U M
• Donna B. Hodges, Alliant Insurance Services Inc.
• Anita Ingram, University of Cincinnati
• Amy Kessler, Prudential Financial Inc.
• Joann M. Lytle, McCarter & English L.L.P.
• Carmen Ortiz-McGhee, Aon Risk Solutions
• Nicola Parton, Swiss Re Ltd.
• Kathleen Reardon, Hamilton Insurance Group Ltd.
• Lindsay Rios, Matrix Healthcare Services Inc., dba myMatrixx
• Tracy Ryan, Liberty Mutual Insurance Co.
GOLD
• Deborah Stalker, Ace Ltd.
• Kathryn Tazic, Sedgwick Claims Management Services Inc.
• Iris Teo, Marsh L.L.C.
• Sherry L. Thomas, Guy Carpenter & Co. L.L.C.
• Karen Vines, IMA Financial Group Inc.
• Donna J. Vobornik, Dentons US L.L.P.
• Kim Wilkerson, XL Group P.L.C.
• Tracy D. Williams, Sidley Austin L.L.P.
H OW YO U C A N PA R T I C I PAT E :
MARY PEMBERTON
mpemberton@businessinsurance.com - 303.898.4043
S I LV E R
REGISTER NOW:
WWW.BUSINESSINSURANCE.COM/WOMENTOWATCH
Business Insurance started the Women to Watch awards program in 2006 to recognize women leaders doing
outstanding work in the insurance sector and risk and benefits management. We invited Business Insurance readers
to nominate candidates for Women to Watch, and a panel of BI editors selected the honorees based on those
nominations. Profiles of the 2014 honorees will be published in the Dec. 8 edition of Business Insurance, and the
honorees will be recognized at an awards event in New York on Dec. 9.
14bi0321.pdf
RunDate: 10/27/14 PCI SD
Full Page
Color: 4/C
PCImonday_pp01_03_07_10_FINAL.qxp
10/26/2014
8:37 PM
Page 4
MONDAY
OCTOBER 27, 2014
RESTREPO
Continued from page 1
Restrepo’s chairmanship. Working
toward PCI’s top priority — reauthorization of the federal terrorism
insurance program created by the
Terrorism Risk Insurance Act of
2002 — has not been easy. Congress has yet to renew the program, which is slated to expire on
Dec. 31, but appears likely to vote
on the issue during next month’s
lame-duck session.
“We would have preferred to
have the bill passed and signed
earlier,” Mr. Restrepo said. There
is a “great need for the type of
security TRIA will provide,” he
said, adding that he’s reasonably
confident it will be renewed before
the end of the year.
He said PCI has been able to provide information to senators and
congressmen regarding what
PRIORITIES
Continued from page 3
and regulatory standards on the
insurance industry,” he said.
“This is an issue that has continued to grow over the past year,”
Mr. Sampson said, as international regulatory bodies “are becoming
more and more opaque and less
open in terms of the process by
which they make these decisions.”
Along the same lines, the organization will continue trying to pare
would happen if TRIA were not
passed by Congress.
“I’m very proud of the association being a thought leader in providing information,” he said.
Another issue that has continued
to evolve this year is global regulatory convergence. “As an industry, we used to be concerned about
Washington” becoming more
involved in insurance regulation,
he said. Now the issue is international regulation, he said.
PCI has been trying to educate
regulators about why the statebased regulatory system is best.
“Why would we want to adopt
what we think is a bank-centric
regulatory system when the current system is working fine?” Mr.
Restrepo said.
PCI also has had to respond to
economic developments such as
the emergence of commercial ridesharing ventures, he said. The
result has been the creation of
what he calls “real gaps in insur-
ance coverage for both the folks
who are driving as part of this
transportation network, as well as
people riding,” he said. PCI has
been “very aggressive” in working
with regulators and legislators
about confronting the risks
involved, Mr. Restrepo said.
“To a large degree PCI’s challenges reflect the challenges of its
members,” he said. “The rate of
change has accelerated on all
fronts.”
In addition to regulatory trends,
insurers must deal with a changing workforce.
The property/casualty insurance
industry is “going to lose hundreds
of thousands of people over the
next five to 10 years,” he said.
Recruiting is a challenge for all of
PCI’s members, Mr. Restrepo said,
and he sees the industry group
continuing to provide role models
and information to a new generation of professionals entering the
industry.
similar efforts made by the Collins
Amendment to the Dodd-Frank
Wall Street Reform and Consumer
Protection Act.
“There’s been a lot of progress
this year on a fix to the Collins
Amendment, which imposed bankcentric-type capital standards on
insurers as part of the Dodd-Frank
Act,” Mr. Sampson said.
The emergence of insurance
issues related to the evolving U.S.
economy, including services such
as ride-share startup Uber, also
have landed on PCI’s plate.
These issues “kind of exploded
onto the scene this year” after a
tragic fatal accident involving an
Uber driver and a young girl in
San Francisco on New Year’s Eve
2013, he said.
“We have expended very serious
effort on that set of issues this year
with some very significant developments,” Mr. Sampson said,
referring to the passage of a California law that seeks to establish
insurance requirements for such
ride-share companies.
“We hope the California law will
become a model law for other
states,” he said.
PCI DAILY COVERAGE
AVAILABLE IN
ONLINE EDITION
Business
Insurance is
offering PDF
versions of its
daily news from
the Property
Casualty Insurers
Association of
America’s annual meeting in
Scottsdale. To share meeting news
with colleagues or to revisit
information after the event, go to
www.businessinsurance.com.
10
PCI SHOW DAILY 2014
BUSINESS INSURANCE
Publisher:
Frank Quigley (Chicago)
Associate Publisher/
Online General Manager:
Paul D. Winston (Chicago)
Editor:
Gavin Souter (Chicago)
Editor-at-Large:
Jerry Geisel (Washington)
Managing Editor:
Paul Bomberger (Chicago)
Assistant Managing Editors:
Charmain Benton (Chicago);
Aranya Tomseth (Chicago)
Art Editor:
William Murphy (Chicago)
Senior Editors:
Judy Greenwald (San Jose);
Mark A. Hofmann (Washington);
Sarah Veysey (London);
Joanne Wojcik (Denver);
Associate Editors:
Matt Dunning (New York);
Stephanie Goldberg (Chicago);
Sheena Harrison (Chicago);
Bill Kenealy (Chicago)
Matthew Lerner (New York)
Copy Desk Chief:
Katherine Downing (Chicago)
Copy Editor:
Dave Roknic (Chicago)
Copy Editor/Video Producer:
Jewell C. Washington (Chicago)
Director of Research:
Angelina Villarreal (Chicago)
Editorial Cartoonist:
Roger Schillerstrom (Chicago)
Advertising Sales Director:
Peter Oxner (Chicago)
Northeast Regional Sales Manager:
Ron Kolgraf (Boston)
Mid-Atlantic Advertising Manager:
Mark Krawiec (New York)
Midwest/West Advertising Manager:
Spencer Moysey (Chicago)
Director of Conference Sales:
Mary Pemberton (Denver)
Custom Media Business Development Director:
Kimberly Jackson (Boston)
Account Executive:
Pegeen Prichard (Chicago)
Director of Demand Generation Services:
Par Gandhi (New York)
Sales & Marketing Assistant:
Emily Stein (Chicago)
Production Manager:
J. Thomas Janka (Chicago)
Associate Group PublisherConferences & Marketing Services:
Nikki Pirrello (New York)
Director of Audience Development:
Sherry Skalko (Chicago)
Digital Product Manager:
Christina Kneitz (Chicago)
Reprint Sales Manager:
Lauren Melesio (New York)
EDITORIAL:
Chicago: 312-649-5200;
Denver: 303-278-7444;
London: 44-207-457-1400;
New York: 212-210-0100;
San Jose: 408-774-1500;
Washington: 202-662-7200
ADVERTISING:
Boston: 617-292-4856;
Chicago: 312-649-5224;
Denver 303-898-4043;
New York: 212-210-0136
SUBSCRIPTIONS & SINGLE COPY SALES:
1-877-812-1587 (U.S. & Canada)
1-313-446-0450 (All other locations)
Business Insurance is published by
Crain Communications Inc.
Crain Communications Inc. Board of Directors
Chairman: Keith E. Crain
President: Rance Crain
Treasurer: Mary Kay Crain
Cindi Crain
Executive Vice President/Operations:
William A. Morrow
Executive Vice President/
Director of Strategic Operations:
Christopher Crain
Senior Vice President/Group Publisher:
David Klein
Chief Financial Officer:
Thomas Stevens
Group Publisher:
Chris Battaglia
Vice President/Production & Manufacturing:
Dave Kamis
Chief Information Officer:
Anthony DiPonio
G.D. Crain Jr.: Founder (1885-1973)
Mrs. G.D. Crain Jr.: Chairman (1911-1996)
Merrilee P. Crain: Secretary (1942-2012)
S.R. Bernstein:
Chairman-executive committee (1907-1993)
PHOTOS BY MICHAEL MARCOTTE
Help your industry
attract top talent.
Introducing
An industry-wide collaborative initiative
to inform and excite the next
generation about the limitless
career paths in insurance.
Become a partner today.
Learn how at www.InsureMyPath.org/GetInvolved
14bi0316.pdf
RunDate: 10/27/14 PCI SD
Powered by
Full Page
Color: 4/C
A CONTRACT IS A LEGAL DOCUMENT.
A TRUE
PARTNERSHIP
IS SO MUCH MORE.
Our experience, expertise and track record are only meaningful
if we are able to help our clients. We will listen carefully to your
goals and challenges and we will leverage our deep and varied
resources to deliver a solution that meets your needs.
Find out what you can expect from a true
partner at partnerre.com
14bi0317.pdf
RunDate: 10/27/14 PCI SD
Full Page
Color: 4/C