CV

BINA T. DAGAR Insurance/Reinsurance and Commercial Arbitrator President, Ameya Consulting, LLC 25 Cedar Parkway North Livingston, NJ 07039 Tel: (973) 716-9496 Fax: (973) 486- 0872 e-mail: bdagar@ameyaconsulting.com website: www.ameyaconsulting.com Education: University of Pennsylvania, B. A. - magna cum laude. Professional Reinsurance Certification from the College of Insurance/St. John’s University. Areas of Specialization: Arbitration/mediation; coverage dispute resolution; expert testimony; due diligence analysis; contract wording analysis; reinsurance recoveries; and reinsurance functions such as seasonal underwriting and audits. Arbitration Rosters:      Arbitrators Directory, Reinsurance Association of America (RAA); Certified Arbitrator, AIDA Reinsurance & Insurance Arbitration Society (ARIAS-U.S.); Panel Member of ARIAS (U.K.); CPR's Panels of Distinguished Neutrals; Roster of Neutral Arbitrators, USCIB/International Chamber of Commerce (ICC). Continuing Education:    Intensive Arbitrator Training Workshop, February 24, 2004 (Sponsor ARIAS-U.S.) Various Arbitration Conferences from 2004 to date earning CLE credits of over 40 hours; ICC Arbitration Workshop (Sponsor: International Chamber of Commerce under the auspices of the International Court of Arbitration), San Francisco, CA, June 2007 and Montreal, Canada, May 2008.  Second Annual Conference on International Arbitration and Mediation – 2007 (Sponsor: ADR Program and Louis Stein Center for Law and Ethics, Fordham Law School); Roundtable discussion on Cross-Cultural Diversity in Mediation, July 2007 (Sponsor USCIB). AAA's International Centre for Dispute Resolution (ICDR)-sponsored 2007 Fall Conference focusing on Latin America, the European Union and ICDR's technology for ADR Services. Fordham Dispute Resolution Society's Second Annual Vis International Arbitration Practice Moot in February 2008. Served as volunteer arbitrator in three sessions. The Chartered Institute of Arbitrators Membership Training Program, September 2008. Transformative Mediation Training (ongoing) at the Institute for Mediation and Conflict Resolution (IMCR), New York, December 2008.      Experience: Ameya Consulting, LLC - Livingston, NJ Present As a Reinsurance Consultant in private practice, I have arbitrated in disputes for insurance and reinsurance companies; I have provided expert testimony relating to industry practice, warranties and misrepresentations and other reinsurance underwriting issues; performed underwriting audits on run-off and on-going portfolios, and reconciled retrocession portfolios for recoveries. Everest Reinsurance Company (formerly Prudential Re), Liberty Corner, NJ 1993-2001 As Vice President and Unit Manager in the International Department, I was responsible for developing new markets in Africa, re-underwriting the existing Caribbean and Home/Foreign property and casualty treaty books (covering London market, pan European and worldwide business) and enhancing the division's overall returns. Assisted by a staff of one associate underwriter and one technical assistant, I managed a revenue which doubled to $23 million from $14 million in the targeted new regions of Africa and Home/Foreign. Along with the Caribbean book, I achieved a C/R of 75%. The revenue stream reached a high of $40 million. My portfolio included a small book of Specialty business (4 programs) with worldwide and indigenous country exposures - Directors' and Officers' Liability and a bundled program of Kidnap & Extortion, Products Tampering, and Workplace Violence. The specialty nature of these treaties required a regular review and vigilance of the accounts, contract wording interpretation, and coverage issues with regard to claims, extra contractual obligations and declaratory judgment expenses. As Unit Manager in the U.S. region, I was responsible for planning and directing all facets of a Treaty portfolio management. I had a staff of two assistant underwriters and one management Bina T. Dagar - C.V. 2 01/09 trainee and managed a book of nationwide main-street property and small-to-medium sized mutual companies' multi-line treaty business with a revenue stream of $20 million. I established and implemented strategic plans and created a targeted marketing program for business development. I evaluated clients to establish a quality portfolio of profitable business, which entailed consultation with actuaries to obtain adequate pricing. SCOR Reinsurance Company, New York, NY 1989-1993 As Assistant Vice President in the treaty department, I managed and underwrote a portfolio of Domestic U.S., Home/Foreign (London market and European portfolio), and International business, on both a direct and brokered basis. I conducted audits and marketed business sources and intermediaries to obtain new business and increased shares on existing treaties. Pricing functions included CAT modeling analysis and exposure management. I maintained close communications with actuaries to devise adequate rating and increased premium volume from $11 million to $18 million while maintaining a profitable book. As part of my home/foreign responsibilities, I underwrote specialty lines such as Space, Homeowners' Warranty and Extended Warranty, Political Risk, Nuclear and Decennial Liability treaties. These laborintensive treaties required constant monitoring to ensure continued pricing adequacy and exposure management. To ensure continued profitability, I conducted an average of 10 audits per year on existing portfolio and prospective business. In 1992, I was charged with overseeing the management of UNISTRAAT, the Political Risk Underwriting Agency of SCOR; my responsibilities included oversight of MGA's strategic plans. I conducted quarterly on-site audits/evaluations of the book of business to ensure adherence to underwriting guidelines and policies as well as authority levels, to evaluate pricing, and terms and conditions to maintain a standard of market profitability, and to ensure that the entity's policies and procedures were in accordance with their reinsurance agreement. I also oversaw the purchase of reinsurance and its administration to confirm security of reinsurers and to obtain competitive terms and conditions. CIGNA International (now Ace), Philadelphia, PA 1984-1989 As a Manager in the Ceded Reinsurance department, I managed CIGNA Worldwide's internal treaty reinsurance program and designed, priced and purchased reinsurance for affiliated companies and subsidiaries in Latin/South America, the Middle East and the Pacific region. In addition, I audited the ceded reinsurance portfolio as well as managed the reinsurance recoveries on Casualty, Political Risk and Export Credit run-off business. I succeeded in recovering $13 million, the full amount outstanding. As a management consultant in CIGNA Systems, I conducted on-site operational audits to streamline CIGNA's worldwide entities to comply with home office requirements and was appointed on a blue ribbon committee to evaluate pricing mechanisms employed by the worldwide entities. Bina T. Dagar - C.V. 3 01/09 Munich Reinsurance Company - U.S. Branch, New York, NY 1977-1984 As a facultative underwriter, I initiated and developed the formal process and implemented a facility to write facultative business. I created and implemented a model that spanned the initial recording of the submission to the final issuance of a certificate. I also designed the facultative certificate wording to comport with industry practice, internal legal requirements, and client needs. In 1981 I obtained training in the head office in Munich and thereafter, underwrote treaty and facultative business and conducted audits. Areas of Experience:     Insurance and Reinsurance Company Arbitration; International and Domestic General Business Practices; Industry practice and Property & Casualty Underwriting Expert Testimony; Coverage Disputes involving various lines of business/areas including: Property and Catastrophe Reinsurance General Liability Political Risk Products Recall; Kidnap and Extortion; Workplace Violence Professional Liability Misrepresentation or Omission Reinsurance Underwriting - functions and procedures; Claim Issues; Reinsurance Contract Wording Review and Interpretation; Run off Issues to resolve outstanding balances with reinsurers; Company Management/Operational Issues; MGA-related issues; Ceded Reinsurance; Retrocessions; and Reinsurance Collections.      Summary of Consulting/Dispute Resolution Experience: The following are some examples of my consulting work:  Ameya was retained in May 2005 to conduct an on-site review of underwriting and claims files of an MGA in runoff that had written reinsurance on behalf of the client. The review encompassed the evaluation of the nature and scope of the liabilities; adherence to contract terms and issues (such as retrocessions) or representations that may have impacted coverage and claims. The analysis entailed a detailed examination of the files to extract relevant information and to assess mitigation options of the exposures and liabilities in order to effect a strategically viable closure of the book.  Ameya was retained by a reinsurer in January 2006 to conduct an on-going evaluation of underwriting files of an insurer in liquidation; to investigate the terms and conditions relevant to the facultative agreement; and to undertake a fact finding mission to inspect existing documents with the general endeavor to ascertain coverage.  Ameya was retained by a large insurance company in April 2007 and August 2008 to conduct reviews of insurance and reinsurance companies' claims files; these audits involved a review and verification of latent environmental and asbestos claims paid and outstanding as contractually agreed between the two parties. Bina T. Dagar - C.V. 4 01/09 The following are examples of my arbitration and expert testimony work:  In 2003, I completed deposition testimony, key witness testimony and arbitration support to a law firm in New Jersey for a large-scale arbitration involving damages in a reinsurance dispute under arbitration and an application for rescission of the international treaty between a large reinsurer and prominent insurer. I conducted a detailed investigative review of the underwriting and claims files to assess the methodology and discipline utilized to rate and underwrite the business and to examine and evaluate the claim characteristics that formed the focus of the defendant's case. My work was used to prepare defense counsel for Plaintiff's expert deposition and for the impending arbitration hearing. The case was settled to the plaintiff's satisfaction in 2003.  In 2005, I was engaged by a law firm in New York to serve as a party-appointed arbitrator for a large international reinsurer in a dispute involving worker's compensation carve-out business. This ongoing dispute concerns audit findings that reveal alleged violation of the reinsurance agreement.  In 2005, I was engaged by a New-York based law firm as an arbitrator to resolve a dispute between a reinsurance company and its captive; the arbitration clause called for resolution in accordance with UNCITRAL rules. The case was settled in December 2005.  In 2006, I was engaged as a party-appointed arbitrator by a large insurance company for a disagreement about payment obligations by a risk management services company. The case was settled in 2006.  In 2007, I was appointed umpire in a dispute between two large international insurance companies. The arbitration arose from the interpretation of the contractual agreement regarding bad faith and punitive damages. The case was settled.  I am currently engaged as a party-appointed arbitrator in two cases involving large international insurers and their reinsurers over outstanding claims payment disputes under several facultative certificates issued to insureds and with regard to treaty language. Industry Activities and Publications: Professional Affiliations:        Certified Arbitrator with ARIAS-U.S.; Member of and Arbitrator on the ARIAS-U.K. Roster of Neutrals; Member of the Chartered Institute of Arbitrators, London; Advisor to the Board of Directors of the Association of Professional Insurance Women (APIW) - 2006-present; Member of ARIAS-U.S. Ethics and International Committees; Member of the Association of Insurance and Reinsurance Runoff Companies (AIRROC) Publications Committee; Member of U.S. Council for International Business (USCIB), an affiliate of the International Chamber of Commerce (ICC). Publications: Bina T. Dagar - C.V. 5 01/09 Terrorism: A Global Perspective, Published in Mealey's Litigation Report: Reinsurance, September 16, 2004. Perspective: Audits can Provide Reinsurers an Edge in a Complex Market, Published in the Industry Focus section of Business Insurance, February 21, 2005. The Reinsurance Underwriting Audit: An Essential Process, Published in RISE, the CPCU Society's news magazine, Vol. 24, Number 1, December 2006. Reprinted in the Journal of Reinsurance, a publication of the Intermediaries & Reinsurance Underwriters Association (IRU, Inc.), Vol. 14 No. 1, Winter 2007. Presentations:     Speaker at American Conference Institute's Roundtable on Reinsurance Arbitrations in September 2004 and February 2005. Speaker and Moderator at ARIAS' Arbitrators' Conferences in May 2005; November 2006; and May 2008 about current arbitration issues. Speaker at the American Bar Association's conference in August 2008 and Speaker at the Practicing Law Institute's (PLI) Reinsurance Law program in September 2008. Bina T. Dagar - C.V. 6 01/09