11th Annual Liability Regimes Conference Review: Mastering Accumulation and Bodily Injury Exposures in a Rapidly Changing Environment

Keeping the Floodgates Shut? Mastering Accumulation and Bodily Injury Exposures in a Rapidly Changing Environment - Conference Review
Rüschlikon, 4–5 November 2015

I am very pleased to present you with a synopsis of the 11th Annual Liability Regimes Conference. The news that Travelers was forced to bolster its asbestos reserves by a further US$224 mn in the third quarter of 2015 highlights the current state of liability dynamics for (re)insurers. The hunt for yield in the current febrile, low-interest rate environment is leading investors to develop inventive approaches to generate returns. The perceived deep pockets of the (re)insurance industry provide a tantalising prospect for hedge funds (ever at the forefront of financial innovation) who in increasing numbers are taking more interest in mesothelioma litigation as a means to earn a return. The U.S. Tort system currently represents a permissive environment for increasingly questionable activities in this area.

However, asbestos is just one aspect of the growing liability minefield and was therefore just one part of this conference discussions. Casualty and liability accumulation, medical liability implications of the Internet of Things and antibiotic resistance for the medical and (re)insurance industries were also discussed.

Understanding liability, its dynamics and its trajectory is vitally important for the (re)insurance industry. That is why The Geneva Association is pleased to provide this annual platform for information exchange, discussions on best practice and networking for the field. We are grateful to Swiss Re for hosting our event this year as well as Munich Re, State Farm, Swiss Re and Zurich for their sponsorship.

Anna Maria D'Hulster

Secretary General, The Geneva Association