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

asiapacific

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.

image4

image2

image1

image3

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!

Thanks for coming: Revisiting the Collapse of HIH

As the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry continues, the Lloyd’s Development Group invited members down to the Lloyd’s hub at 1 O’Connell Street last night to revisit the extraordinary collapse of HIH and the Royal Commission that followed.

We were really thrilled to have Andrew Main as our keynote speaker for this event. Andrew is a Gold Walkley award winning financial journalist who reported for the AFR on the HIH Royal Commission as it happened. He later went on to write a book on the subject titled “Other People’s Money  – The complete story of the extraordinary collapse of HIH”.

Andrew Main talk

Andrew threaded together a tale of the makings of the HIH collapse with humour, intellect and a quickly apparent depth of knowledge on the subject. The audience enthusiastically followed Andrew down every rabbit whole he happened upon as he regaled the crowd with stories of the various characters and goings-on of that culminated in one of the largest corporate collapses in Australian history.

A massive thanks to our sponsors Wotton + Kearney for their ongoing support and also to Chris Mackinnon @ Lloyd’s for hosting the event. Thanks to all those who attended and we hope you found it as fascinated as we did!

Next event announced: 1st August 2018

Revisiting the extraordinary collapse of HIH: a keynote address by Andrew Main

Wednesday, 1st August, 2018, 4.30pm – 6.30pm,

@ Lloyd’s Offices, Level 9, 1 O’Connell Street, Sydney NSW 2000

Educational Seminar – Wednesday, 1st August 2018 – [FREE to attend]

97-HIH Crash Fallout Hits more Victims

From the Report of the Royal Commission into HIH Insurance, 13th May 2003:

The major companies in the HIH Insurance Group (HIH) were placed in provisional liquidation on 15 March 2001. The collapse of HIH is likely to be the largest corporate failure in Australia to date. The losses and hardship inflicted on the Australian community by this corporate failure have been significant and have been a major contributing factor to the current insurance crisis. The liquidation process could take up to ten years and the financial return to creditors is expected to be negligible.

As the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry launched in December 2017 continues, the Lloyd’s Development Group invites you to join us in revisiting the extraordinary collapse of HIH and the Royal Commission that followed.

Many of us have heard stories and the headlines of the collapse, but most of us weren’t in the market 15 years ago to experience it.

Join us as Andrew Main sheds some light on the who, what, when, where, why and how things went so wrong.

“The last days of HIH Insurance before it collapse on 15 March 2001 looked more like a closing-down sale in a bargain bazaar during a power cut than a dignified exit from the corporate scene.”

Chapter 1 – Rape and Pillage, “Other People’s Money: The Complete Story of the Extraordinary Collapse of HIH”

Following the conclusion of the keynote address, we are delighted to be serving refreshments and canapés courtesy of our sponsor Wotton + Kearney where we hope you will make the most of the opportunity to connect with fellow attendees.

Wotton + Kearney announced as inaugural Gold Sponsor of the LDG for 2018/2019

The Lloyd’s Development group are delighted to announce Wotton + Kearney as the 2018 / 2019 Lloyd’s Development Group Annual Gold Sponsor.

 W+K have sponsored the Lloyd’s Development Group (LDG) on numerous occasions in 2017 and 2018 and we are now happy to formalise an annual sponsorship arrangement.

We are very thankful to W+K for their continued show of support for the LDG and we look forward to further strengthening the partnership.

The sponsorship will enable us to continue to host free educational and networking events for our members and we already have some exciting events planned for the rest of 2018 and beyond.

LDG sponsorship photo