Financial Management Seminar

September 8, 2021
Hybrid Event:
Hershey Country Club | 1000 E Derry Rd, Hershey, PA 17033
And PAMIC Online

Join PAMIC this year for the annual Financial Management Seminar! On September 8th, the Financial Management Committee is hosting a one-day session with the option of a virtual educational experience. Earn CE and CPE credits while meeting with colleagues or while attending sessions from your desk. Financial topics include as a Reinsurance Update, an Investment Panel, Practical Approach Innovation and Data Analytics, 2021 Statutory Accounting and an Annual Statement Update!

Register  Sponsor

Didn't receive the zoom link? Click here.
Please note: This is a hybrid event. If you have registered to attend the event in person, you will also receive the virtual link.

8:00-8:30 - Continental Breakfast

8:30-8:45am: Welcome & Chairman Remarks
Scott Esworthy, BSSF, and Ken Huggendubler 

8:45am - 9:45am: Reinsurance Update
Scott Rubenstein, Guy Carpenter

Guy Carpenter will provide an overview of the P & C reinsurance market  highlighting how the COVID-19 pandemic has compounded pre-existing market characteristics including shifting risk appetites, reduced capital inflows, constrained retrocession capacity and deteriorating loss experience. Despite operating in a highly uncertain environment, reinsurance, when deployed strategically, can help insurers reduce capital requirements, improve solvency, minimize earnings volatility and pursue profitable growth.

9:45am - 10:00am: Mid- Morning Break

10:00am - 11:00am:  Legislative Update
Ron Gallagher, PAMIC

The following topic will include an update on cybersecurity, homeowner and auto policy changes, auto stacking, and personnel changes at the insurance department.

11:00am - 12:00pm: Practical Approach Innovation and Data Analytics
Kevin Finn, Mutual Capital Analytics

Rapid advancements over the last few years in data availability, technology and predictive modeling capabilities have created great opportunities for Mutual companies to innovate.  While the capabilities are impressive, the reality for many carriers is that they are still trying to figure out how to practically apply in their marketplace.  This session will focus on how carriers are actually utilizing and implementing some of these new capabilities to drive improved business performance.

12:00pm - 1:00pm: Lunch Break

1:00pm - 1:50pm: An Overview of National Trends and Insurance Fraud
Tim Lynch, NICB
Bill Woolf, NICB

NICB is the nation’s premier organization dedicated to leading a united effort in preventing, detecting and deterring insurance fraud through intelligence-driven operations, education, crime prevention and strategy, policy and advocacy. The presentation will specifically focus on fraud trends and legislative initiatives in the Mid-Atlantic region. 

1:50pm - 2:00pm: Break

2:00-3:00pm: 2021 P/C Statutory Accounting and NAIC Annual Statement Update
Steve Merrill, BSSF
Jeff Clippinger, BSSF

Review of recently adopted and exposed statutory accounting guidance and changes to the December 31, 2021 NAIC Annual Statement Blank for property and casualty insurers.

3:00 - 4:00: FHLBank Pittsburgh Insurance Company Membership  - Details and Opportunities

William McGettigan, FHL Bank Pittsburgh

The insurance industry continuously  undergoes changes, especially during the past few months.  Access to liquidity, especially during periods of increased market turbulence, can be a valuable option for insurance companies.  FHLBank Pittsburgh membership allows access to liquidity on-demand at competitive rates from a government-sponsored enterprise cooperative for a variety of uses.   FHLBank history, structure, insurance membership requirements and potential uses will be covered in detail.

4:00pm - Closing Remarks & Adjournment

COVID-19 Protocols

We care deeply about our members and their safety.  PAMIC follows the safety covid rules published by the Commonwealth of Pennsylvania.  The Commonwealth is only mandating masks in K-12 Schools, daycare centers, and health facilities.  There is no central repository of vaccination status making accurate vaccination verification impossible.  Also, neither the Federal nor State Government is mandating vaccines for the general population.  Instead, PAMIC is providing the tools individuals may want or need to protect themselves against the COVID virus.  As mentioned earlier, PAMIC instituted certain protocols that we believe assist in keeping our attendees as safe as possible.  These are:

• PAMIC offers all events with a virtual option for those who do not feel comfortable attending in person. Note: Those who registered for in-person attendance are welcome to change their registration to virtual right up until the seminar begins

• PAMIC requests copies of location Covid Protocols to address potential gaps. 

• Sanitizer and masks will be available at all events.
• Event seating will be spaced to allow better social distancing based upon location layout.
• Lunch is served "plated" instead of a buffet so there is less contact in line and no touching of shared serving utensils.
• Bottled water and sodas will be provided, instead of pitchers of water on each table.
• New, disposable name tags will be handed out instead of re-used, recycled name tags as we have used in the past.
• All event payments can be accomplished online and at events: PAMIC uses a touchless (tap) credit card reader.

Thank you to our Sponsors

Flex Sponsors

Individual Sponsors

Gold

Silver

Questions?

Contact us at 717-303-0197 or email pamic@pamic.org