20 – 20 hindsight what did it look like?

2011 D&O Symposium

20 – 20 HindsightWhat did it look like?

Courtesy of Latty

New York City ~ February 2 & 3, 2011

History of Your Favorite Underwriters (80+ years of

experience)• Young• Brash• Good Looking• Smarter than a Fifth Grader?• Athletes• Style• Family• Results = Today

FLOODY

JOEY O!!!

RAFF

OPEN DISCUSSION

Rapid Fire

• Blue light special: Pay for 2, get 3 yrs• Deploying $25 Million ABC Capacity• Market Capitalization• Reinsurance• Rescission• Outside Counsel• Legal Expenses

Who Knew?

• Actuaries• Risk Modeling• Executive Compensation• Jail or No Jail• Settle before Adjudication• Independent Directors• More or Less Sleep

Beg 4 forgiveness

• Sixty (60) D&O Insurers• Building for tomorrow• Underwriting Criteria• Credit Market• Due Diligence• Decision Making

HMMMMM

• Multi-year deals• Mid-term quotes• Enhanced broker compensation• Most concerning recent coverage

enhancement

Hindsight and Foresight: The Crystal Ball

• Emerging failed bank issue• Industry consolidation• Biggest current frustration• Biggest current concern• Worst account-specific underwriting

decision you ever made

Do Tell

• Are you each shrinking your books dramatically? What are you telling senior management?

• Are you pegging your 2009 loss ratios meaningfully higher than 2008 or 2007?

• Do you believe you can create a meaningfully better loss ratio than your peers over time?

SuperBowl

• STEELERS

OR

• PACKERS

AUDIENCE SPEAKS OUT

• Questions

• Concerns

• Observations

• Time for Cocktails