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Sessions Information
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August 9, 2023
2:45pm - 3:45pm
Session Type: Meeting
Session Capacity: N/A
Risk Retention Groups (RRGs) have distinct and material differences from other captive structures and they continue to face significant challenges and opportunities across all major operational and financial areas. This interactive discussion group will focus on pressing matters impacting RRGs and their owner/insureds. Topics will include but not be limited to:
• Underwriting and policy issuance software • On-line renewals • Ever popular credit card processing fees and vendors • Board meeting locations • Cyber policies • The varying role of the captive manager for RRGs • Website capabilities • A.M. Best ratings • Reinsurance • Recent legislative activity including Florida Bill 516 • Non-domiciliary regulator overreach • NRRA activity
Not all RRGs are created equal, and the value that each individual participant derives from them will be as unique as the risks they insure. Join us for this exciting session covering all things RRGs!
Coordinator: Adam Dubuque, Johnson Lambert Content Advisor: Derick White, Strategic Risk Solutions No CPE/CRE/CLE Credit
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Session Speakers
Organization: Eastern Dentists Insurance Company
Dan Belbusti serves as the Chief Financial Officer for Eastern Dentists Insurance Company (EDIC) and oversees the internal and outsourced financial functions of the company. Mr. Belbusti joined EDIC from Electric Insurance (a GE Company) where he spent 9 years and served as Deputy Controller and Technical Accounting Leader. Prior to Electric Insurance, Mr. Belbusti spent 5 years as a Senior Manager at a consulting firm specializing in risk management for financial services clients, implementing enterprise risk management structures, improving internal control processes and engaging in the occasional fraud investigation. Mr. Belbusti also formerly served as a Senior Associate at PricewaterhouseCoopers LLP, specializing in audits for insurance and investment industry clients. He holds both an M.S. and B.S. from the University of Connecticut.
Organization: College Insurance Company, Inc.
Mary Ellen Moriarty has been actively engaged in the insurance industry for over 30 years in positions within national insurance brokerages as well as commercial insurance carriers. She joined EIIA in 2002 as the Vice President for Property & Casualty, focusing her extensive insurance experience on the higher education industry group. EIIA maintains two captives, College Insurance Company and College Risk Retention Group.
Mary Ellen received a B.S. Northern Illinois University, an MBA from DePaul University, and a Master of Pastoral Studies from Loyola University. She currently holds the Chartered Property & Casualty Underwriter (CPCU), Associate in Risk Management (ARM) and Associate in Captive Insurance (AIC) designations.
Mary Ellen is actively involved in CICA, VCIA and NRRA. She is a frequent speaker at both insurance and higher education industry events.
Organization: Ophthalmic Mutual Insurance Company (a Risk Retention Group)
Since 2002, Tim Padovese has served as the President and CEO of Ophthalmic Mutual Insurance Company (OMIC). OMIC is a risk retention group (RRG) insuring over 5,800 ophthalmologists nationwide which translates to a 60% market share. In addition to the responsibilities associated with the company’s operations and its success, Tim works with all ophthalmologists that are members of their sponsoring organization in the American Academy of Ophthalmology (AAO).
Tim has over 40 years of insurance experience with the last 21 years at OMIC. Prior to joining OMIC, Tim spent 22 years with Fireman’s Fund Insurance Co. in key underwriting and marketing positions and at NORCAL Mutual as Vice President of Underwriting.
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