“Premium income for the insurance industry in the Asia-Pacific region will double by 2020”
“In 2013, domestic and international insurers in Asia-Pacific will benefit from the region’s organic premium growth potential, brought about by high levels of economic growth and rising insurance penetration rates.”
“Asian insurance markets will continue to rise in importance over the next 10 years.”
Professional liability lines are poised for significant growth in the Asian marketplace as evidenced by the quotes above. Practitioners in the region, and throughout the globe, can position themselves to benefit from this explosive regional growth by attending the 2013 Hong Kong Professional Liability Regional Symposium, 24 September at the Harbour Grand Hong Kong Hotel.
The event will feature thought-leaders from the insurance and regulatory arenas discussing the big issues impacting professional lines in the region. Sessions include:
• The Regulatory and Enforcement World – Shifting Sands
Dr Anthony Neoh QC SC, former SFC Chairman and Chief Advisor to the China Securities Regulatory Commission, will share his insights into the regulatory and enforcement worlds, and the complex foundation of policy, laws, implementation and enforcement. Dr Neoh will focus on a number of themes across the United States, Mainland China and Hong Kong, which will guide us as to risks, responsibilities and opportunities into the future.
• Lessons to be Learnt – U.S. Securities Class Actions Against Chinese Domiciled Companies
What can the industry learn from the raft of US exposed risks which affected the market? Has the ultimate loss experience been better or worse than expected? Can systemic issues be predicted or avoided? Simon McConnell (Clyde & Co), Jason Kelly (AIG Insurance Hong Kong Limited), Antony Sassi (Smyth & Co in association with RPC), and Stanley Wong (ACE Insurance Hong Kong) will review the exposures and how the industry can improve the underwriting of such risks and the handling and managing such claims. The panel will also review the regulatory actions involving the SEC, PCAOB and CSRC – and the wide-ranging implications which could flow from the way in which the PRC State Secrets Law and information sharing arrangements.
• White Collar Crime – War Stories and Lessons to be Learnt
Corporate fraud is an all too common experience, and often fills our newspapers. It is an inherent risk in all organizations, and a major issue or risk for underwriters to assess. We will review some of the extraordinary stories from across Asia, and deduce what warning signals you should be focused on to reduce your own risk. Featuring Steve Vickers, CEO, Steve Vickers Associates
• When Fraudsters Strike – What’s Missing?
Why do so few Asian companies insure against employee and external party theft? This session provides useable examples of theft, examines where internal controls failed companies and explores the fraud investigation process. In addition the session will look at how typical market insurance policies respond to losses and seek to provide a framework for expanding the penetration of this product class. Featuring Emily Poh, AIG Asia Pacific Insurance Pte. Ltd.; Roden Tong, Federal Insurance; Chris Leahy, Blackpeak Group; and Guy Norman, Deloitte Hong Kong
• Emerging Products for Emerging Markets
Mergers & Acquisitions, a burgeoning middle class with investable income and the ‘silver-tsunami’ of ageing populations – economic and demographic changes which characterise the Asian growth story. How can the insurance industry support and capitalise on these tangential shifts? Peter Ford of Allied World and Katherine Simmonds from Ironshore Australia will provide a prima on the rapid growth products of Warranties and Indemnity Insurance (W&I), Investment Management Insurance (IMI/PE) and Medical Malpractice Insurance (MedMal), explaining in a simplified format the purpose of each product, why it is a growth area, what coverage is afforded, how it is underwritten and what are the hot topics and issues. Are these products your best opportunities for income and exposure diversification?
• Corporate Governance in Asia – Perspectives from Market Players
Asia has witnessed considerable corporate governance reform as well as its fair share of scandals over the past 15 years. What impact have these reforms had on listed companies and the investment environment, including shareholder rights? How do market players, in particular listed companies and institutional shareholders, view the usefulness of these reforms? Can Asia achieve world-class standards of corporate governance? Jamie Allen from the Asian Corporate Governance Association will address these issues and provide real-life examples from around the region.
Event attendees will walk away with real-world examples of how the professional liability marketplace in Asia will grow and evolve in the coming years, and will be prepared to lead the charge and profit from this market evolution while making valuable business contacts with other professionals active in this growing region. The Hong Kong PL Regional Symposium is a tremendous value as well, with PLUS members able to register for only $US 375 (approximately HK$ 2,910)!
Don’t miss the 2013 Hong Kong Professional Regional Liability Symposium – register today!