Demystifying ART; Non-Conventional Insurance Options
Content & learning
• What is meant by alternative risk transfer? How it differs from ‘conventional’ insurance
• The main types of alternative risk transfer - mutuals, self-insurance /deductible programmes, captives, retrospective rating, catastrophe bonds, derivatives, pre- and post-loss funding options
• Main types of captives – owned, virtual, cell
• Key issues – credit risk for insurers (use of letters of credit), management/admin costs, time to set-up, difficulty of moving back to conventional basis, tax, few insurers able to offer ART, barrier to M&A activity
• Advantages/disadvantages of main types of ART - self-insurance, captives, retro-rating
Learning objectives
• Be aware of the main types of non-conventional insurance programmes available
• Be able to identify when non-conventional insurance might be viable
• Know the key issues when discussing non-conventional insurance with a client
About the Speaker
Alan has a wealth of experience and expertise garnered from over 40 years working in the Insurance industry, primarily with insurance brokers, latterly as a Director of Marsh Commercial [Jelf]. He has looked after clients in a wide range of industries with particular specialisms in the Construction and Property sectors, and to include offshore decommissioning, process control, transportation, storage, and food manufacturing. He has specific knowledge working with Captive (Protected Cell) Insurance companies.
Alan is both a Fellow of the Chartered Insurance Institute [FCII], and Fellow of Risk Management in Insurance [FIRM]. He was honoured with a ‘Special Services to Insurance Award’, Belfast 2017.
Alan now works as a self-employed consultant to a major construction firm, and as a technical insurance trainer for Nick Thomas & Associates. Whilst his training capabilities are wide-ranging, he has particular expertise in: Design and Build, Plant Hire, Business Interruption, and Alternative Risk Transfer.
Alan is also a CII Mentor.
Venue
- Online
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