The seminar focuses on the events leading up to the bankruptcy of Taisei Fire and Marine Insurance Co (“TFMI”) with losses of US$2.5 billion, and describes how TFMI management were unaware of the risks they had retained, irrespective of reinsurance policies they had placed with Fortress Re. It also describes the fundamental characteristics ‘finite’ reinsurance policies.

 

At the end of Intrinsic Value's training seminar on Taisei Fire and Marine Insurance Co. the participant should be able to:

􀂅  Describe how events of the 9/11 World Trade terrorist attack brought about

     massive  reinsurance  losses - US2.5 billion – when they thought they were

     fully covered.

􀂅  Differentiate between ‘full’ and ‘finite’ reinsurance cover.

􀂅  Discuss  potential  mitigation   measures   which   would   have   avoided  or

     lessened the losses.

􀂅  Discuss the need for stress and scenario testing for the low-frequency-high 

     impact incidences.