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Sessions Information

  • August 9, 2023
    11:15 am - 12:15 pm
    Session Type: Session
    Session Capacity: N/A


    The basic concept of parametric solutions is quite simple: Parametric insurance covers the probability of a predefined event happening (e.g. a major hurricane or earthquake), paying out according to a predefined plan instead of a lengthy claims adjustment process. This provides benefits to both the policyholder and the risk carrier – long claims processes are a thing of the past and parametric programs are very cost effective. The panel discusses possible uses of parametric solutions and presents a real use case that can be used as a blueprint for other captive owners.

    Learning objectives – Upon completion, participants will be able to:

    • Differentiate between indemnity and parametric solutions
    • Gain insight into the future of parametric solutions and possible applications
    • Understand specific ways to use parametric coverage based on a real-world case study

    Level: Advanced

    Prerequisites: Proficient understanding of captives

    Field of Study: Specialized Knowledge

    1 CPE/CRE/VT CLE credit
     
    ICCIE Credit 

    Content Advisor: Aaron Hillebrandt, Pinnacle Actuarial
     
    Coordinator: Marcus Schmalbach, RYSKEX

    Moderator: Fred Eslami, AM Best


    ...

Session Speakers
Organization: State of Vermont, Department of Financial Regulation


Christine Brown is the Director of Captive Insurance with the Vermont Department of Financial Regulation, where she directly supports the Deputy Commissioner of Captive Insurance with strategic planning, legislative initiatives and industry outreach. Christine manages Vermont’s captive regulatory operations, including licensing and monitoring of the financial condition of captive insurers domiciled in Vermont. Christine joined the Captive Division in 2003 and has been involved in all aspects of the analysis and examination processes. Prior to joining the Captive Division, Christine spent seven years in public accounting with Johnson Lambert in Burlington, VT, specializing in captive insurance, and with Ernst & Young in Boston, MA. Christine earned a M.S. in Accounting and MBA from Northeastern University, and a B.A. in Political Science from Regis College.



Derrick Easton is Managing Director, Alternative Risk Transfer Solutions for Willis Towers Watson. He joined Willis in 2015 from Aon where he was Managing Director and Leader of their US Risk Finance, Captive Consulting and Captive Reinsurance practices. Prior to Aon, he was a Senior Vice President in the Alternative Risk Solutions team of Marsh USA where his focus was on large complex mass tort risks, multi-line/multi-year and structured programs. Derrick is a member of the global Alternative Risk Transfer Solutions practice. Based in New York, his responsibilities focus on the initiation, structuring and delivery of custom risk financing solutions for North American corporate clients. Derrick received a B.A. in Risk Management from Glasgow Caledonia University and is a Member Institute of Risk Management (MIRM) and has received the Associate Captive Insurance (ACI) designation.


Organization: AM Best


Fred Eslami is an Associate Director in AM Best’s property/casualty ratings division with the alternative risk transfer group, rating domestic and off-shore captive insurance companies. In his portfolio, Fred has the largest number of single parent captive insurers. Fred is also the team leader for Title Insurance segment and leads AM Best’s cyber security initiative for property/casualty and life/health insurers. Prior to joining AM Best in 2008, Fred was a Vice President with Radian Group’s financial guaranty team and served for 15 years in various risk management and reinsurance positions. Prior to Radian, Fred was Director of Asset Management with York Hannover Developments Inc., and was responsible for U.S. operations of the international real estate group of companies. Fred is a member of Pace University Seidenberg School of Computer Science and Information Systems and past member of Rutgers Cybersecurity Advisory Board. He holds a master’s degree in international business and relations from University of Pennsylvania and an MBA in administration from Philadelphia University.


Organization: Torreyana Insurance Company Inc.

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