News and views from the exhibitors
Patent protection risk
Miller’s presence at the AIRMIC conference (stand 5) looks at a range of subjects including supply chain disruption, professional liabilities, product recall, political risk and intellectual property.
The broker said intellectual property is often overlooked as it can be a complex area, but it expects patent strategies to become a staple of clients’ insurance portfolios in the future.
A workshop on Tuesday focused on the fact that protection of intellectual property is becoming more important than ever for risk managers. Miller’s Greg Collins said products that appear the simplest may hide the most issues.
Visitors to Miller’s stand can enter a competition to test their understanding of the numbers of patents in everyday objects. The prize is a £250 Experience voucher.
Shifting regulation and local laws challenge risk managers to ensure the efficacy and compliance of their global insurance programmes. A company could face penalties for not fulfilling local regulatory and tax requirements. Aon’s team at the AIRMIC conference - including Ken MacDonald, chief executive officer, Aon Global, Peter Jackson, sales and marketing director and Matt Grimwade, head of broking - want to discuss new tools to tackle these challenges.
The broker is also showcasing Smartdrive, a tool to reduce fleet claims. Giveaways at the stand (57 & 58) come from Aon’s clients Jaguar and Cadbury’s. Two tickets for a day out at the F1 British Grand Prix at Silverstone are also up for grabs.
Despite no home nation qualifying, visitors to Edinburgh won’t escape European football fever. The impressive Munich stadium - Allianz Arena Munich - provides inspiration for Allianz’s presence at AIRMIC.
Doug Pennycuick, Allianz Global Corporate and Specialty UK chief executive, will chair today’s key-note forum titled ‘Do regulators understand our business?’ A Wednesday afternoon workshop is also intended to highlight the importance of clients and insurers working together when creating a business continuity plan.
The insurer will also be promoting the launch of its new team of account managers and broker development managers who are led by Philipp Cremer, head of market management and communication.
Delegates can leave their business cards at the stand (17 & 18) if they’d like to receive a complimentary subscription to Allianz’s Global Risk Dialogue magazine.
FiscalReps launches taxbox™
Given the great number and variety of national premium tax regimes across the EU, FiscalReps is using AIRMIC to profile its service for helping insurers maintain IPT compliance.
The company is launching taxbox™, its new online software application which insurers and captive managers can use to manage premium tax compliance themselves.
The company said the solution creates time and cost savings for clients by calculating, filing and paying premium taxes on their behalf, and provides documented proof that compliance has been achieved. The product is available for demonstration on the FiscalReps stand (4).
FiscalReps chief executive Mike Stalley will also present a workshop today on IPT compliance issues.
New risk tools
AXA (stand 15 & 16) is showcasing its latest risk management tools in Edinburgh.
The company’s stand features:
• Panorama – a remote claims handling service
• Ecosphere – a response to risk management requirements reflecting changing environmental legislation
• VisioRisk TM – a means of measuring exposure to risk using Google Earth.
Visitors to AXA’s stand will also be invited to sample a glass or two of AXA wine – French, of course! Suitably buoyed, they may fancy managing the risks faced on an icy slalom course in the digital world of a Wii Fit. Clocking the quickest time could win the Wii console.
In the spirit of the communicating risk management theme, Crawford is introducing its global markets initiative, a gateway to the delivery of global, regional and local claims and risk management programmes. Crawford said the service provides consistency of claims service delivery, a positive local customer experience and central coordination of relationship and programme management, irrespective of geography.
Delegates are also invited to try Crawford’s interactive quiz. A Nintendo DS lite will be awarded to the person who answers most questions correctly in the shortest time.
Get more risk educated
A delegation from Glasgow has come to Edinburgh to tell AIRMIC delegates about risk management education provision at Glasgow Caledonian University. The university has an undergraduate programme as well as a Masters, offered on a full time and distance learning basis. There is also the potential for consultancy and research within the accountancy, finance and risk division at the university. Attendees can discuss the courses with Dr Alan Watson, from the division, a founder member of the original BA risk management degree and the Masters programme.
Rating the market
For information about the insurance markets and the rating of captives, delegates can visit A.M. Best at stand 8. On the stand the rating agency is demonstrating its market based information products, including:
• Statement File Global which allows users to monitor changes in A.M. Best’s ratings, perform cross-border and comparative analysis, and access financial data on insurers worldwide
• Best’s Insurance Reports – UK, used to review analysis of more than 675 UK composite, life and non-life and rated Lloyd’s syndicates, get access to AMB credit reports and to identify companies that meet certain criteria for competitive research and benchmarking analysis. The agency is offering all visitors to the stand 33% off Best Insurance Reports – UK.
Visitors can collect a complimentary copy of Best’s Pocket Key Rating Guide – UK. There’s also an opportunity for delegates to enter a prize draw to win tickets for a round of golf at a course of their choice.
Are you risk fit?
Conference attendees that want to test their risk fitness should go to stand 11. Law firm Berrymans Lace Mawer (BLM) will be on hand to explain potential liabilities as well as legal and financial exposure.
Representatives at the stand include, Helen Devery and Helen Grimberg from BLM’s legal risk consultancy, joined by Alistair Kinley, head of policy and Ian Finlayson and Graham Harris from BLM’s claims management.
Visitors can also find out what it feels like to hit a virtual football with their head with prizes like John Lewis vouchers, and the chance to win a Wii console.
With the increasing important of environmental matters, how can companies measure their energy efficiency and what role does the risk manager have to play?
RSA, stand 22 and 38, wants to talk about these issues, as well as its global networking and risk solutions offerings.
The ‘In Your World’ stand, is designed to paint a picture of what RSA’s Risk Solutions division is and how each specialist business unit links into it. The second stand, which is called ‘The Network Zone’, promotes the global networking proposition, and the importance RSA places on getting people talking to each other.
RSA representatives on the stands include Paul Greensmith, appointed RSA Risk Solutions director in March, James Peace, the development director for Risk Solutions, and David Geer, underwriting director for Risk Solutions.
The two stands will be giving away ipod speakers and fruit smoothies.
Hill Dickinson (stand 54) is focused on identifying and managing legal risk. Some of the topics they wish to discuss include: Whether or not risk managers fully understand their obligations under new environmental regulations? How risk managers are prepared for the proposed Ministry of Justice changes and a review of existing claims processes? Do risk managers fully understand their obligations if their company is a victim of white collar fraud, which has increased significantly within the UK, and looks set to continue? Partners from various divisions of the law firm will discuss these themes in relation to businesses.
A business card draw could land delegates in with a chance to win a flight for two in a Virgin Experience hot air balloon.
This year’s focus for XL Insurance at AIRMIC (49 & 50) is on risk engineering. XL is demonstrating the benefits practical loss prevention advice can bring to the insurance buying process. The XL GAPS engineers are showcasing an online reporting tool, MyAnalysis. The tool aggregates local risk assessment results and quantifies property exposures.
XL said it is also seeing a growing interest in product recall insurance for the food and drink sector as companies become increasing aware of the complex risks in this field.
The stand is being manned by various property, casualty and product recall underwriters as well as risk engineering and client relationship teams.
In line with the risk engineering theme XL is giving away mini tool kits and tape measures.
A chance to be 12th man
If you’re bored with football, then you might like to visit Jardine Lloyd Thompson’s (JLT) cricket pavilion at stand 43 and 44. As part of JLT’s sponsorship of the Twenty20 City Masters tournament on 2 September they’re offering the chance to be 12th man at the event.
JLT will also be discussing its new non damage business interruption product and a political risk management tool, but their colleagues are poised to discuss a range of issues including:
• How long the soft market will last, in particular which areas could harden first
• Contract clarity
• Supply chain risk assessment
• The economic environment and how this affects risk assessment and the ability to invest in risk management as companies start to focus on cost cutting
• Political risk, especially in emerging markets
• Global insurance management and compliance with tax
• Floods, natural catastrophes and business contingency
• Increased energy and natural resource costs
• Enterprise risk management.
FM Global (stand 34, 35, 36 & 37) is demonstrating its new ‘Risk Master’ interactive game and a research campus promotional trailer. At the stand delegates will have the chance to meet Carol Barton, senior vice president of commercial lines, Martin Fessey, vice president, international operations, Philip Johnson, operation vice president and Tom Roche, vice president of operations and engineering. The property insurer will also be giving away Multi-measure toolkits and mini screwdriver kits.
39 Essex Street Barristers Chambers are exhibiting at stand 3. The Chambers’ work includes policy and coverage disputes, insurance fraud and regulatory work. The firm has experience of disputes associated with damage by fire and other perils, including issues of arson/fraud, coverage, warranties and conditions, non-disclosure and misrepresentation, insurable interests, co-insurance and the nature and extent of right of indemnity etc, allocation of risk/liability between parties and commercial and construction contracts. Delegates can meet the Chambers director Michael Meeson and two practice managers, Andrew Frankland and Ben Sundborg.
Insurer sweet like chocolate
HCC Global are welcoming visitors to stand 6 with a Belgian chocolate fountain and champagne. The insurer’s underwriting team is on hand to discuss the financial lines market; including regulatory and legal developments. Visitors can also be in with a chance to win two tickets to an Arsenal home game, by way of a business card prize-draw.