welcoming remarks - pdfs.semanticscholar.org€¦ · welcoming remarks tom ruggieri ceo, advisen ....
TRANSCRIPT
![Page 1: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/1.jpg)
![Page 2: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/2.jpg)
![Page 3: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/3.jpg)
Welcoming Remarks
Tom Ruggieri
CEO, Advisen
![Page 4: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/4.jpg)
Keynote Presentation
Sanjay Godhwani
Property Product Line Executive
Chartis US & Canada
![Page 5: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/5.jpg)
Sanjay Godhwani Property Product Line Executive
![Page 6: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/6.jpg)
Overview of the Property Insurance
Market
![Page 7: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/7.jpg)
The Pricing Cycle
100
110
120
130
140
150
160
170
180
3/1
/20
01
10
/1/2
00
1
5/1
/20
02
12
/1/2
00
2
7/1
/20
03
2/1
/20
04
9/1
/20
04
4/1
/20
05
11
/1/2
00
5
6/1
/20
06
1/1
/20
07
8/1
/20
07
3/1
/20
08
10
/1/2
00
8
5/1
/20
09
12
/1/2
00
9
7/1
/20
10
2/1
/20
11
9/1
/20
11
ADVx Property
ADVx Property
Advisen ADVx™ Price Change Index
![Page 8: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/8.jpg)
The Pricing Cycle ADVx™ Property versus Composite
![Page 9: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/9.jpg)
The Pricing Cycle The Impact of Catastrophes
![Page 10: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/10.jpg)
The Pricing Cycle Capacity: Surplus as % GDP
![Page 11: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/11.jpg)
The Pricing Cycle Surplus as % GDP/Insured Cat Losses
![Page 12: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/12.jpg)
Retentions
Revenue > $250M Source: Advisen
![Page 13: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/13.jpg)
Market Share Revenue > $1 Billion
Source: Advisen
![Page 14: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/14.jpg)
Market Share Revenue $300 Million - $1 Billion
Source: Advisen
![Page 15: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/15.jpg)
Market Share Revenue < $300 Million
Source: Advisen
![Page 16: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/16.jpg)
The Risk Manager’s Perspective
Al Tobin
Managing Principal & National Property Leader
Aon
![Page 17: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/17.jpg)
• Al Tobin, Managing Principal & National Property Leader, Aon
• Lois Fuchs, VP, Risk Management, Honeywell
• James Curtin, VP, Risk Management, Vornado Realty Trust
The Risk Manager’s Perspective
![Page 18: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/18.jpg)
Sponsored Break
![Page 19: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/19.jpg)
Understanding & Managing Tornado Risk
David Bradford
President, Research & Editorial
Advisen
![Page 20: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/20.jpg)
• David Bradford, President, Research & Editorial, Advisen
• David Finnis, National Property Practice Leader, Willis
• Lou Gritzo, Vice President & Manager of Research, FM Global
• Tom Hall, Sr. Risk Engineering Consultant, Natural Hazards, Zurich
Understanding & Managing Tornado Risk
![Page 21: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/21.jpg)
21
FUJITA TORNADO DAMAGE SCALE
SCALE WIND ESTIMATE *** (MPH) TYPICAL DAMAGE
F0 < 73 Light damage. Some damage to chimneys; branches broken off trees; shallow-rooted trees pushed over; sign boards damaged.
F1 73-112 Moderate damage. Peels surface off roofs; mobile homes pushed off foundations or overturned; moving autos blown off roads.
F2 113-157
Considerable damage. Roofs torn off frame houses; mobile homes demolished; boxcars overturned; large trees snapped or uprooted; light-object missiles generated; cars lifted off ground.
F3 158-206
Severe damage. Roofs and some walls torn off well-constructed houses; trains overturned; most trees in forest uprooted; heavy cars lifted off the ground and thrown.
F4 207-260
Devastating damage. Well-constructed houses leveled; structures with weak foundations blown away some distance; cars thrown and large missiles generated.
F5 261-318
Incredible damage. Strong frame houses leveled off foundations and swept away; automobile-sized missiles fly through the air in excess of 100 meters (109 yds); trees debarked; incredible phenomena will occur.
Developed in 1971 by T. Theodore Fujita of the University of Chicago) Source: NOAA.Gov
Measuring Ferocity
![Page 22: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/22.jpg)
22
Enhanced Fujita – February 1, 2007
FUJITA SCALE DERIVED EF SCALE OPERATIONAL EF SCALE
F Number Fastest 1/4-mile (mph)
3 Second Gust (mph)
EF Number 3 Second
Gust (mph) EF Number
3 Second Gust (mph)
0 40-72 45-78 0 65-85 0 65-85
1 73-112 79-117 1 86-109 1 86-110
2 113-157 118-161 2 110-137 2 111-135
3 158-207 162-209 3 138-167 3 136-165
4 208-260 210-261 4 168-199 4 166-200
5 261-318 262-317 5 200-234 5 Over 200
![Page 23: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/23.jpg)
• 49 F5 Tornadoes since 1950
• Enhanced Fujita Scale replaces Fujita Scale February 1, 2007
• 8 EF5 Tornadoes since February 1, 2007
• Why did EF Scale replace Fujita Scale?
Fujita Scale recalibrated to more accurately match tornado speeds with their damage
and
To augment / refine damage descriptors
23
How Many F5 Tornadoes?
![Page 24: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/24.jpg)
24
What Have We Seen Since 1950?
No true
pattern
Year # of Tornadoes
1953 5
1957 3
1966 3
1968 4
1974 6
1976 3
1990 3
2011 6 (but 4 in the same weather system)
![Page 25: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/25.jpg)
25
• Joplin 5/22/2011 – 158 Fatalities • States Which Lead the Way: • 1st Place - 7
• Alabama • 2nd Place (Tie) – 6
• Iowa, Kansas, Oklahoma, Texas
What Have We Seen Since 1950?
![Page 26: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/26.jpg)
Tornadoes by State Number of Tornadoes Tornadoes per 10,000 sq miles
1 Texas Florida
2 Kansas Kansas
3 Florida Maryland
4 Oklahoma Illinois
5 Nebraska Mississippi
6 Illinois Iowa
7 Iowa Oklahoma
8 Missouri South Carolina
9 Alabama Alabama
10 Mississippi Louisiana
1991-2010
Source: NOAA
![Page 27: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/27.jpg)
![Page 28: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/28.jpg)
Wind Damage
![Page 29: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/29.jpg)
Wind Damage
![Page 30: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/30.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 31: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/31.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 32: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/32.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 33: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/33.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 34: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/34.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 35: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/35.jpg)
Joplin Tornado, May 2011
Source: Dustie Meads http://www.dustie.com/Tornado/default.html
![Page 36: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/36.jpg)
Contingent Business Interruption Insurance: Underwriting, Coverage and Claim Issues
Lou Adanio
Executive Vice President & Chief Underwriting Officer, Property Insurance
Alterra
![Page 37: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/37.jpg)
• Lou Adanio, EVP & CUO, Property Insurance, Alterra
• John Dempsey, CEO, Dempsey Partners
• Jamie Miller, Managing Director, Swiss Re Corporate Solutions
• Richard Lewis, Partner, Reed Smith
• Michael LaRocca, VP, Global Corporate Property Underwriting, Zurich
Contingent Business Interruption Insurance: Underwriting, Coverage and Claim Issues
![Page 38: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/38.jpg)
Keynote Presentation
Mark Lyons
CEO
Arch Worldwide Insurance Group
![Page 39: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/39.jpg)
Mark Lyons CEO
![Page 40: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/40.jpg)
Advisen Property
Insights Conference M. Lyons
June 5, 2012
![Page 41: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/41.jpg)
Today’s Topics
US Industry Results
Worldwide Market Results (Lloyd’s, Bermuda)
CAT Losses
Risk Management & Concentration Risk
Industry Rate Changes
Gross ROE versus Net ROE
Capital Market Capacity
![Page 42: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/42.jpg)
USA Results Per Dowling & Partners (with SNL Financial)
Source: Dowling & Partners
![Page 43: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/43.jpg)
USA Results: AM Best & ISO/PCI
Source: Dowling & Partners
![Page 44: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/44.jpg)
Lloyd’s Exhibit of WW Markets Results
![Page 45: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/45.jpg)
Source: Dowling & Partners
Lloyd’s Return on Capacity by U/W Year
![Page 46: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/46.jpg)
Source: Dowling & Partners
Lloyd’s 2010/2011 Comparative Results
![Page 47: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/47.jpg)
Lloyd’s Major Claims History
![Page 48: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/48.jpg)
Bermuda CAT Losses
![Page 49: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/49.jpg)
Carriers with most 2011 CAT Losses
![Page 50: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/50.jpg)
Carrier Risk Tolerance Performance
![Page 51: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/51.jpg)
S&P Enterprise Risk Management Ratings
![Page 52: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/52.jpg)
4 Rate Change Barometers
Source: Dowling & Partners
![Page 53: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/53.jpg)
Middle Market Rate Changes: An Indicator of Risks Returning to E&S Market?
Source: Dowling & Partners
![Page 54: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/54.jpg)
CIAB Rate Changes by Account Size
![Page 55: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/55.jpg)
CIAB Rate Changes by LOB
![Page 56: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/56.jpg)
Rate Changes Beyond the Average: Commercial Property
![Page 57: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/57.jpg)
Gross vs. Net ROE
Reinsurance dependent LOB
Starts with gross line capacity & appetite relative to capital
Net vs. ceded decisions on CAT, large risk losses, normal
attritional
QS, XOL, CAT
QS -> Occurrence Limit and Ceding Commission
– Occurrence Limit -> Balance Sheet
– Ceding Commission -> Income Statement
XOL/CAT - > No expense relief; pricing quickly market reactive
Leaves primary insurers chasing their tail to achieve “at least”
![Page 58: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/58.jpg)
CAT Bond Activity
![Page 59: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/59.jpg)
CAT Bond Pricing
![Page 60: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/60.jpg)
The Uses and Misuses of Catastrophe Models
Carl Hedde
Senior Vice President, Head of Risk Accumulation
Munich Re
![Page 61: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/61.jpg)
• Carl Hedde, SVP- Head of Risk Accumulation, Munich Re
• Bill Keogh, President, Strategic Initiatives, EQECAT
• Eyal Shnaps, Manager, U.S RiskMarkets Advisory Group, RMS
• Glen Daraskevich, SVP and Head of Consulting Group, Karen Clark & Co
• Susan Denike, Managing Director, Guy Carpenter
The Uses and Misuses of Catastrophe Models
![Page 62: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/62.jpg)
Sponsored Break
![Page 63: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/63.jpg)
“The Unique Vulnerability of New York City to Hurricane
Destruction”
Dr. Nicholas Coch
Professor, Queens College
![Page 64: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/64.jpg)
The State of the Property Insurance Market
David Bradford
President, Research & Editorial Division
Advisen
![Page 65: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/65.jpg)
• David Bradford, President, Research & Editorial Division, Advisen
• Richard Shaak, President, StarrTech, The Starr Companies
• Duncan Ellis, Managing Director & Global Property Leader, Marsh
• Joe Tocco, EVP & Head of NA Property and GAPS, XL
• Vince Reyda, Vice President Operations Manager, FM Global
The State of the Property Insurance Market
![Page 66: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/66.jpg)
Keynote Presentation
David Pagoumian
CEO
NAPCO
![Page 67: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/67.jpg)
David Pagoumian
CEO
![Page 68: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/68.jpg)
Closing Remarks
David Bradford
President, Research & Editorial, Advisen
![Page 69: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/69.jpg)
![Page 70: Welcoming Remarks - pdfs.semanticscholar.org€¦ · Welcoming Remarks Tom Ruggieri CEO, Advisen . Keynote Presentation Sanjay Godhwani Property Product Line Executive Chartis US](https://reader034.vdocuments.us/reader034/viewer/2022051805/5ff9f7b86f6cb0380657e0bb/html5/thumbnails/70.jpg)
Check www.advisen.com
for information on our other upcoming events
Thank for you attending!