Third Annual Mock Trail at Banco Court

On 27th February 2020, the Loyds Development Group in conjunction with AILA Young Professionals hosted the third annual Mock Trial event!

Held in the iconic Banco Court, we were privileged to have Julian Sexton SC and Lachlan Gyles SC appearing for our hypothetical parties in a case focussed on notifying facts and circumstances that might give rise to a claim under a PI or D&O policy.

From the insurance industry, we had Joseph Hershewe (Claims Manager at Berkshire Hathaway Specialty Insurance) and Richard Pike (Regional Reinsurance Officer at Berkley Re) participate as hypothetical witnesses for the parties.

This was a fantastic opportunity for young professionals from the insurance and law industries, to witness first-hand how an insurance related dispute unfolds in court. The cross-examination of the witnesses was eye-opening and the Honourable Thomas Bathurst AC, Chief Justice of the Supreme court of NSW, gave some thoughts at the conclusion of the mock trial on the possible outcomes of the various issues raised.

A networking event followed at Verandah where we heard from representatives from our wonderful event sponsors Clyde & Co and Wotton + Kearney. A huge thankyou to our sponsors, our counsel, witnesses and the committee members of the LDG and AILA YPs for making this event possible. We hope to see you all again next year!

LDG Study Tour 2020: Applications deadline extended until 22nd January 2020

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The LDG is touring the Asia Pacific!

The Lloyd’s Development Group is setting out to organize for a group of 20-25 participants from the Australian reinsurance and insurance market to travel to the Asia-Pacific region.

About the tour
Over a two week period, participants will be given an invaluable opportunity to develop a working knowledge of aspects of the Asia-pacific (re)insurance market as well as forge strong relationships with their market peers with which they will be touring. During the tour, participants will meet with clients, brokers, underwriters, law firms, regulators, loss adjusters and Lloyd’s Asia offices all the time representing their individual companies and the Australian Insurance market as a whole. The study tour will also include some site visits to major infrastructure sites and other places of interest for claims case studies of major cat and risk losses.
Selected study tour participants will meet on a monthly basis prior to embarking for the study tour to select a topic and prepare a presentation to be delivered at various meetings on tour. This will include an overview of the Australian insurance market in addition to a topic of their choice. Presentation duties will be shared between selected participants on the basis of contributions during pre-tour meetings. All participants will also be involved in conducting background research into firms and markets to be visited during the tour which will be shared amongst the group.

STUDY TOUR PROPOSAL DOCUMENT

Tour Details:
Date: 25 October – 7th November 2020
Locations: 4 cities in the Asia-Pacific region: Singapore, Hanoi, Seoul and Hong Kong
Cost: AUD $6000 which covers all flights, hotels, transfers, organised events and some meals. Travel insurance to be arranged independently. Cost to be covered by sponsoring firm of applicant.
Target participants: LDG members with less than 10 years’ industry experience including any staff who work in Australia at an underwriting agency, (re) insurance company, syndicate service company or (re) insurance broking firm.

Ready to Apply?
Download the application form below. Please note all application forms must have the ‘CEO Commitment’ section signed to be considered. The application deadline is December 13th 2019. Successful applicants will be advised by late January 2020.

DOWNLOAD APPLICATION FORM HERE

Selection Criteria:

    • Must be an LDG member (Participation at previous Lloyd’s Development Group events is desirable)
    • Less than 10 years’ industry experience
    • Must be employed in Australia
    • Must be employed at one of the following:
      •  Underwriting agency
      • (Re)insurance company
      • Syndicate service company
      • (Re)insurance broking firm
      • Lloyd’s Australia
    •  Preference between candidates given based on years in the industry and diversity of experience
    • Final selection of candidates to consider achieving a balance of tour participants across companies and roles.

The Lloyd’s Development Group (LDG) encourages delegates from across the Australian Insurance industry to join the tour. The LDG Committee will make all attempts to accommodate applicants who meet the requirements, however we reserve the right to select candidates based on our own criteria.

 

 

Drone Demonstration with Ansvar

Thanks to all members who attended our Drones Demonstration with Ansvar Insurance down at Trumper oval on Thursday, 7th February 2019.

Matt Holland from Ansvar Risk Management Services ran a really informative and engaging session on the work he has been doing over the past few years in developing the Ansvar drone program. We gained a lot of insight into the utility of drones in our industry; from gathering information for surveys during the underwriting stage, to time and cost efficiencies in claims handling.

Matt demonstrated various pre-programmed flight paths that he would typically use in combination with photogrammetry and other laser technology to create 3D visuals and flood/storm maps amongst other output. This output is then used by underwriters, brokers and clients for risk and claims management. During the demonstration, dog walkers in the vicinity watched on, along with LDG members, as the drone flew in various formations across the oval and grand stands at Trumper Oval. We were able to see a live POV feed transmitting from the drone on a screen set up from the flight control center at the fence of the park. After the drone successfully landed, we were taken through the component parts and costs associated with the two drones brought along from the Ansvar aviation hanger. The investment from Ansvar into this program was clear. Due to the sophistication of their technology, they are able to detect 3-4mm tile cracks from a drone height of 70m.

DCIM100MEDIADJI_0053.JPGOnce the drone mission was complete, members congregated at the Four In Hand pub for an informal debrief enjoyed by all.

A massive thanks to Matt Holland and Jenny Bax at Ansvar for supporting this unique event. A big thanks to Matt in particular for passionately sharing his vast knowledge and experience in using drone technology. Matt pioneered the drone program at Ansvar, which has now developed into being one of the most advanced in the Australian/New Zealand risk management/insurance market place.

Finally, a big thank you to our gold sponsor Wotton + Kearney for their ongoing sponsorship making events like these possible and free for our members to attend.

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Future of Environmental Risk

Thanks to all members who attended our Future of Environmental Risk event on the 5th September 2018 hosted @ Lloyd’s Australia.

A particular thanks to our panelists Karl Sullivan (General Manager Risk, Insurance Council Of Australia), Tim Andrews (Principal, Finity Consulting) and Chris Mackinnon (General Representative and Country Manager, @Lloyd’s Australia) for a lively and engaged discussion centering on climate risk.

Speaker presentations and the subsequent panel discussion canvassed big topics including changes in regional weather patterns throughout Australia, the merits and challenges associated with mitigation, asymmetry of information between insurers and consumers, street-address-based pricing models and the viability of government pools.

enviornmental risk - crowdA big congratulations to Lloyd’s Development Group committee member Evan Ainslie for putting this event together. As always, we are grateful to our Gold Sponsors Wotton + Kearney for their continued support of the Lloyd’s Development Group to provide free educational and networking events to our members.

 

Side C – Sidelined?

We’re thrilled at the success of last night’s Lloyd’s Development Group event – “Side C – Sidelined?” hosted by our Gold Sponsor Wotton + Kearney where an experienced industry panel including Richard Head, Ewen McKay and Andrew Moore presented on some of the current challenges facing the Australian D&O market.

For those interested in more detail on the topic, here is a link to the joint Wotton + Kearney / AXA XL, a division of AXA white paper put together by two of our panellists Ewen McKay & Andrew Moore. https://lnkd.in/grVy7jC We look forward to see you all at the next LDG event!