Trade Credit and Political Risk Insurance: Indispensable coverages

Trade Credit and Political Risk Insurance: Indispensable coverages in today's
Monday, March 16, 2015
5:30pm to 6:45pm: Program
7:00pm – 9:00pm: Reception
Committee on Insurance
New York City Bar Association
42 West 44th St.
New York, NY
Richard Abizaid, SVP, Zurich North America
Norm Buchbinder, SVP, Wells Fargo Bank
Andrew Grant, Partner, Clyde & Co LLP
Stephen Kay, SVP, Marsh
Moderated by: Harpreet Mann, QBE North America
The distinguished panel of experts on trade credit and political risk insurance will focus on the current
issues in the industry and the evolution of the industry. Each panelist brings a unique perspective with
both the policyholder’s and insurer’s perspectives represented. The panelists also will discuss legal
issues (particularly with respect to sanctions), private insurance versus ECA, and underwriting challenges
in today’s economic and political environment.
5:15pm – 5:30pm
Registration and Coffee
5:30pm – 5:35pm
Opening Remarks / Welcome
5:35pm – 5:45pm
Introduction of Panel & Overview
5:45pm – 6:45pm
Evolution of Trade Credit and Political Risk Insurance
 What are the origins of TC/PRI in the US?
 How has a changing world caused the industry to evolve?
 How have the needs of the policyholders changed?
 What does the future hold for TC and PRI and what can the
industry do better to meet the needs of the policyholders?
Underwriting: The Underwriting Process & Coverage
 What are some of the challenges for underwriters in today’s
environment, particularly with the decrease in commodity prices,
increase in political turmoil, changes to the sanctions regime, and
increased regulation?
 How have sanctions impacted the underwriting process?
 What are the obligations of policyholders with respect to
disclosure and representation in the US vs UK?
 ECAs vs Private insurance: What is the role of ECAs in today’s
competitive private insurance market?
 What are the regulatory issues for insurers and insureds?
Current Legal Issues in TC / PRI Insurance
 How have sovereign sanctions regimes affected the TC and PRI
 Assignment of insurance policies: What are the rights of loss
payees, including where the policyholder becomes insolvent?
 Status of changes to UK insurance law.
6:45pm – 7:00pm
Questions & Answers