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LLOYD S RISK MANAGEMENT EVENTS January www lloyds com Powered By Docstoc

          January 2005

                                                                                            LLOYD’S RISK MANAGEMENT
                                                                                            C O N TA C T S

                           Widespread recent corporate control failures and                 The Risk Management division is part of Lloyd’s
                           momentous risk events continue to demonstrate                    Finance and Risk Management Directorate.
                           that all entities, including insurers, must have a               Admissions
                           comprehensive, enterprise-wide, approach to risk                 Admissions is responsible for identifying and managing the risks to
                                                                                            the Franchise at the point at which firms and individuals are admitted
                           management. Central to an insurer achieving its                  to the market, or when they wish to make significant changes to the
                           business objectives is not only the quality of its               nature of their participation.
                                                                                            Nigel Williamson Tel: 020 7327 6415
                           underwriting, but also a detailed understanding                  email: nigel.williamson@lloyds.com
                           and management of all the significant risks to
                           its business.                                                    Broker Services
                                                                                            Broker Services handles applications to become an accredited
                                                                                            Lloyd’s broker and the re-accreditation of existing Lloyd’s brokers.
                                                                                            Kevin Reeves Tel: 020 7327 5807
                                                                                            email: kevin.reeves@lloyds.com
As a market, we need to continue to develop a creative approach to achieving an
outstanding risk management capability and ensure that risk management enhances             Coverholders
business value for Franchisees. We can all learn from each other and from the wider         Coverholders is responsible for identifying and managing the risks to
business community. Building on the success of the Lloyd’s Risk Forums and workshops,       the Franchise in relation to firms worldwide who wish to have the
                                                                                            authority to enter into contracts of insurance or issue insurance
we have worked closely with the LMA Risk Management committee to compile a                  documents on behalf of Lloyd’s underwriters.
comprehensive programme of events for 2005.                                                 Monique Alder Tel: 020 7327 6754
                                                                                            email: monique.alder@lloyds.com
Taking account of feedback received from the events organised in 2004, we are opening
up a number of events more widely to the London market in order to maximise the             Loss Modelling
                                                                                            Loss Modelling is responsible for understanding and managing
networking benefits; other events will remain exclusively for Lloyd’s Franchisees and are   market aggregation risks. The department defines the realistic
targeted at market expert groups and individuals with particular areas of responsibility.   disaster scenarios (RDS), which provide the Franchise with an
                                                                                            informative view of aggregation risks within both the syndicates and
Our experience last year was that many events were booked up quickly. Where possible,       the market.
we will try to organise repeat sessions where demand is high, but the message as always     James Orr Tel: 020 7327 6402 email: james.orr@lloyds.com
is book early.
                                                                                            Operational Risk
                                                                                            Operational Risk focuses on the key risks facing the Franchise and
If you have any comments or suggestions then please feel free to contact me or any one      Franchisees, along with Franchisees’ own risk management
of my team.                                                                                 frameworks. It also seeks to raise standards of risk management
                                                                                            throughout the Franchise.
                                                                                            Olly Reeves Tel: 020 7327 6229 email: olly.reeves@lloyds.com
                                                                                            Judith Hall Tel: 020 7327 6869 email: judith.a.hall@lloyds.com
Stephen Manning
Lloyd’s Head of Risk Management                                                             Risk Analysis
                                                                                            Risk Analysis is responsible for implementing the risk management
email: steve.t.manning@lloyds.com                                                           framework across the Franchise and ensuring its continued
                                                                                            development in accordance with leading edge practice. Risk analysis
                                                                                            also co-ordinates risk management activity across the Franchise.
                                                                                            Andrew Gurney Tel: 020 7327 6194
                                                                                            email: andrew.s.gurney@lloyds.com
 Lloyd’s Risk Lectures                                                                    Friday 30th September 2005                                           Friday 25th February 2005
                                                                                          John Engestrom                                                       Dr Lynn Drennan
Lloyd’s Risk Lectures are open events with leading speakers on                            Non Executive Director, Wellington                                   Executive Director, The Cullen Centre for
                                                                                          Underwriting plc                                                     Risk and Governance
topical risk issues.
                                                                                                                                                               Glasgow Caledonian University
Attendance:                 Open to all in the London market                               Risk, Governance and the role of the
                                                                                           Non-Executive Director                                              Risk, Governance and Corporate Failure
                            (Contact us if you do not have a
                                                                                           New governance, regulatory and risk                                 Dr Drennan explains how executives have
                            Lloyd’s pass)                                                                                                                      been able to bring their companies to the
Venue:                      Lloyd’s Old Library                                            management requirements, as well as a
                                                                                           demanding corporate environment, have                               point of collapse in a number of high-
Time:                       Refreshments from 12.45                                                                                     profile cases. Could you spot the warning signs in your business
                            Proceedings commence 1 pm               changed the roles of many within the insurance industry.
                                                                    What are the key actions that the board of a Franchisee should      before it was too late?
                            and finish by 2 pm
Contact for enquiries:      David Herratt, Tel: 020 7327 6550       be taking to give it comfort that its risks are being managed
                            email: david.herratt@lloyds.com         effectively?
                                                                                                                                        Friday 29th April 2005
                                                                                                                                        Andrew Keeling
                                                                                                                                        Director of Risk, SAB Miller plc
                       Thursday 17th March 2005                                           Monday 5th December 2005
                       John Adams                                                         Dr Stephan Harrison
                                                                                                                                        Common Issues in Risk Management
                       Professor of Geography                                             School of Geography and the Environment
                                                                                                                                        Based on his risk management experience across different
                       University College, London                                         University of Oxford
                                                                                                                                        industry sectors, Andrew Keeling will outline what he has found
                                                                                                                                        to be the common factors in ensuring that the risk management
                      Risk, Luck and Profit                                               The Potential Impact of Climate Change        function adds value to a business’s bottom line.
                      A leading commentator on the social                                 Dr Harrison will talk about the
                      aspects of risk, Professor Adams argues                             unpredictability of climate change and the
                      that unless we can accept bad luck, we                              impact that it may have on insurance and      Friday 24th June 2005
                      are destined to be governed by a risk-                              business.                                     Ashley Howard
blame-litigation-compensation culture that suffocates initiative.                                                                       Head of Risk, The Bank of England
Do insurers play a positive or negative role in this process?
                                                                                                                                        Risk Management at the Bank of England – A New
                       Thursday 26th May 2005
                                                                     Lloyd’s Risk Forum Meetings                                        Achieving change in an established institution can be
                       Richard Verrall                                                                                                  challenging. Ashley Howard will describe the Bank’s new
                                                                    The aim of the Lloyd’s Risk Forum meetings is to provide a          approach to risk management.
                       Professor of Actuarial Statistics
                                                                    learning and networking opportunity for those specifically
                       Cass Business School, City University
                                                                    charged with responsibility for risk management within Lloyd’s
                                                                    Franchisees. The theme for this year will be enhancing business                            Friday 9th September 2005
                       How to Improve your Claims Reserving
                                                                    value through good risk management. Numbers will be restricted                             Steven White
                       Professor Verrall will explain for non-
                                                                    to 40 attendees at these sessions, which will involve interactive                          Corporate Risk Manager, J. Sainsbury plc
                       actuaries the latest stochastic methods
                       and how they can improve claims
                                                                                                                                                               What Can Insurers Learn from a High-
                       reserving in the non-life sector.
                                                                    Venue:                     Adam Room, Gallery 11                                           Profile Retailer?
                                                                    Time:                      Working lunch format –                                          Lessons to be learned from risk
                                                                                               start 12 noon, finish 2pm                                       management practice in a high-profile
                       Friday 22nd July 2005
                                                                    Contact for enquiries:     David Herratt, Tel: 020 7327 6550                               retailer.
                       Colin Edelman QC
                                                                                               email: david.herratt@lloyds.com
                       What Can We Learn from Disputes
                                                                                          Friday 28th January 2005
                       settled Out of Court?                                                                                                                   Friday 28th October 2005
                                                                                          Sue Kean
                       Lessons for insurers in the management of                                                                                               Ian Dilks
                                                                                          Director of Risk and Capital Integration,
                       disputes and reputational risk.                                                                                                         Partner, PwC
                                                                                          Aviva plc

                                                                                          What Can We Learn from a PLC’s                                       Can Risk Management Damage your
                                                                                          Approach to Risk?                                                    Business?
                                                                                          How a FTSE 100 insurer seeks to                                      Is it possible for an enterprise to overdo its
                                                                                          enhance business value through good                                  risk management? Does it detract from
                                                                                                                                                               what should be good management
                                                                                          risk management.
                       Friday 25th November 2005                       Special Interest Meetings –                                          Special Interest Meetings –
                       Fred Bell
                       Enterprise Risk Assessment and Monitoring       Realistic Disaster Scenarios (RDS)                                   Practical Risk Management Training
                       Royal Bank of Scotland Group
                                                                      The following specialist sessions are aimed at directors of          The following specialist training sessions will take place in 2005
                       Creating a Risk Culture                        underwriting and those responsible for syndicates’ realistic         for those in the market who wish to enhance their knowledge of
                       Risk management experts agree that             disaster scenarios.                                                  risk management techniques and terminology.
                       concern for risk should be embedded in                                                                              This training will be charged at £200 per person for each
                       the culture of an organisation. But what       Contact for enquiries:      James Orr, Tel: 020 7327 6402
                                                                                                  email: james.orr@lloyds.com              workshop and each attendee will receive full documentation
                       does this mean in practical terms?                                                                                  building up to a comprehensive risk management manual.
                                                                      The April 2005 RDSs – Outcome from Year Two of the RDS
                                                                      Overhaul Project                                                     Venue:                      Lloyd’s Building, Gallery 5
 Special Interest Meetings – Risk and Capital                                                                                              Time:                       09.30 – 11.00
                                                                      Monday 7th February 2005, 09.30 – 10.30, Old Library                 Contact for enquiries:      Andrew Gurney, Tel: 020 7327 6194
The following specialist sessions are for those with responsibility                                                                                                    email: andrew.s.gurney@lloyds.com
for risk and capital in Franchisees.                                  A presentation on the development of the new Realistic Disaster
                                                                      Scenarios and to give advance notice of the April 2005 RDS           Risk Management – Fundamentals for Insurance
Contact for enquiries:      Olly Reeves, Tel: 020 7327 6229           requirements to Franchisees.                                         Wednesday 13th April 2005
                            email: olly.reeves@lloyds.com
                                                                      2004 Hurricane Season Feedback                                       Control Frameworks – What are they, and how you can benefit
Individual Capital Adequacy Standard (ICAS) Regime
                                                                      Monday 7th March 2005, 10.00 – 13.00                                 Friday 13th May 2005
at Lloyd’s
Stephen Manning, Head of Risk Management                              Old Library
                                                                                                                                           Common Risk Language – Why it is an imperative for good risk
Henry Johnson, Head, MRRU and Lloyd’s Actuary
                                                                      A review of the 2004 Hurricane Season, and the roles played by       management
Following the initial round of ICA submissions this meeting           catastrophe loss modelling and Lloyd’s RDSs in managing              Wednesday 15th June 2005
outlines areas of strength across the market as well as lessons       aggregate exposures within the market. Did they work and are
learnt and key areas of focus for future ICA submissions.             they working? This presentation session will feature our analysis    Lloyd’s Framework for Risk Management – Inputs, outputs
                                                                      of the 2004 hurricane losses from Lloyd’s perspective together       issues and challenges
Wednesday 20th April 2005, 09.30 – 11.00                              with contributions from catastrophe modelling companies (AIR,        Friday 8th July 2005
Adam Room, Gallery 11                                                 EQECAT and RMS) and other industry experts. Rolf Tolle,
                                                                      Franchise Performance Director will chair this meeting.              Operational Risk – What is it, why is it in everyone’s job and
An Introduction to Lloyd’s Risk Management                                                                                                 what are the best practice tools for your business?
Capability Model                                                      RDS Workshops                                                        Friday 29th July 2005
Leaders: Andrew Gurney, Manager, Risk Analysis
Olly Reeves, Manager, Operational Risk                                Tuesday 12th, Thursday 14th and Friday 15th April, 09.30 – 12.00
                                                                      Adam Room, Gallery 11                                                Critical Success Factors for Assimilating Risk Management –
The capability model is being developed with the LMA Risk                                                                                  What needs to be in place for risk management to work?
Management Committee as a tool to assist Franchisees to               A series of practical workshops to support Franchisees in            Friday 9th September 2005
                                                                      approaching the 2005 RDS exercise.
                                                                                                                                           Key Risk Indicators and Risk Scorecards – What are they and
enhance their risk management capability and to comply with

                                                                                                                                           how can they help your business?
FSA requirements.
Thursday 16th June 2005, 09.30 – 11.00                                 Special Interest Meetings –                                         Friday 30th September 2005
Lloyd’s Old Library                                                    Accreditation of Lloyd’s Brokers
                                                                                                                                           Realising the Value of Risk Management – Upside and
                                                                      The following specialist session will take place in 2005 to update   downside?
 LMA Risk Management Communications                                   Franchisees on the new accreditation and broker review               Friday 14th October 2005
 Forums                                                               procedures
                                                                                                                                           Risk Appetite – What is it, what is your philosophy on risk taking,
These sessions are open to all LMA members and aim to update          Friday 8th April 2005, 9.00 – 10.30                                  how does it relate to your capacity to bear risk and how do you
Franchisees on the priorities and activities of Lloyd’s Risk          Adam Room, Gallery 11                                                translate it into practical tools and limits for your business
Management. Dates for 2005 are:                                                                                                            Friday 4th November 2005
                                                                      A new approach to accrediting Lloyd’s Brokers
Tuesday 8th March (tbc), Wednesday 29th June,                         Kevin Reeves, Manager Broker Services
Tuesday 11th Oct.                                                     Matthew Chandler, Head of Admissions                                 War Stories, Horror Stories and Near Misses – Lessons to
                                                                                                                                           be learned
Venue:                      Lloyd’s Old Library                       An explanation of the new process for accrediting Lloyd’s            Friday 2nd December 2005
Time:                       09.30 – 10.30                             brokers including a review of the first three years of the scheme,
Contact for enquiries:      David Herratt, Tel: 020 7327 6550         changes to Lloyd’s approach and the key areas of risk.
                            email: david.herratt@lloyds.com
                                                                      Contact for enquiries:      Kevin Reeves, Tel: 020 7327 5807
                                                                                                  email: kevin.reeves@lloyds.com
JANUARY                                                      FEBRUARY                                               MARCH
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 9      10     11     12      13     14     15               13     14   15       16     17     18     19            13     14     15     16    17   18   19
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 23     24     25     26      27     28     29               27     28                                               27     28     29     30    31
 30     31

APRIL                                                        M AY                                                   JUNE
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                                     1      2                1      2    3        4      5      6      7                                  1     2    3    4
 3      4       5      6      7      8      9                8      9    10       11     12     13     14            5      6      7      8     9    10   11
 10     11     12     13      14     15     16               15     16   17       18     19     20     21            12     13     14     15    16   17   18
 17     18     19     20      21     22     23               22     23   24       25     26     27     28            19     20     21     22    23   24   25
 24     25     26     27      28     29     30               29     30   31                                          26     27     28     29    30

í Lloyd’s Risk Lectures                                                      í Special Interest Meetings – Practical Risk Management Training
í Lloyd’s Risk Forum Meetings                                                í Special Interest Meetings – Accreditation of Lloyd’s Brokers
í Special Interest Meetings – Realistic Disaster Scenarios                   í LMA Risk Management Communications Forums
í Special Interest Meetings – Risk and Capital
J U LY                                                       AUGUST                                               SEPTEMBER
 S      M       T      W      T      F       S               S    M    T        W      T      F      S             S      M      T      W     T    F    S

                                     1      2                     1    2        3      4      5      6                                        1    2    3
 3       4      5      6      7      8      9                7    8    9        10     11     12     13            4      5      6      7     8    9    10
 10     11     12     13      14     15     16               14   15   16       17     18     19     20            11     12     13     14    15   16   17
 17     18     19     20      21     22     23               21   22   23       24     25     26     27            18     19     20     21    22   23   24
 24     25     26     27      28     29     30               28   29   30       31                                 25     26     27     28    29   30

OCTOBER                                                      NOVEMBER                                             DECEMBER
 S      M       T      W      T      F       S               S    M    T        W      T      F      S             S      M      T      W     T    F    S

                                            1                          1        2      3      4      5                                        1    2    3
 2       3      4      5      6      7      8                6    7    8        9      10     11     12            4      5      6      7     8    9    10
 9      10     11     12      13     14     15               13   14   15       16     17     18     19            11     12     13     14    15   16   17
 16     17     18     19      20     21     22               20   21   22       23     24     25     26            18     19     20     21    22   23   24
 23     24     25     26      27     28     29               27   28   29       30                                 25     26     27     28    29   30   31
 30     31

í Lloyd’s Risk Lectures                                                    í Special Interest Meetings – Practical Risk Management Training
í Lloyd’s Risk Forum Meetings                                              í Special Interest Meetings – Accreditation of Lloyd’s Brokers
í Special Interest Meetings – Realistic Disaster Scenarios                 í LMA Risk Management Communications Forums
í Special Interest Meetings – Risk and Capital
Further information about risk management
InfoRM (IRM journal)
Strategic Risk
Foresight (IRMG group)
The Risk Management Standard (by IRM, AIRMIC and ALARM)

Association of Insurance and Risk Managers in Industry and
Commerce (AIRMIC): www.airmic.co.uk
Global Association of Risk Professionals (GARP): www.garp.com
Institute of Internal Auditors: www.theiia.org
The Institute of Risk Management (IRM): www.theirm.org
Professional Risk Managers International Association (PRMIA):
Risk and insurance management society (RIMS): www.rims.org
The Bank for International Settlements (BIS): www.bis.org
COSO ERM Framework: www.coso.org

(Lloyd’s accepts no responsibility for the content of external websites)

     Endorsed by the Institute of Risk Management

     Lloyd’s reserves the right to cancel or change the content, timing of events,
     dates, venues or speakers.

     Please check our website www.lloyds.com/riskmanagement for updates.