**This recorded event is eligible for ARIAS recertification credits until January 31, 2018. It is not eligible for CLE credits.**
The Rising Relevance of Runoff
Why is "run off" becoming an increasingly important topic for the insurance industry?
No longer is the phrase "run off" solely associated with discontinued operations and liquidated companies. In fact, the savviest companies now proactively manage "run off":
- to potentially reduce reserve volatility,
- drive more focused and efficient use of capital and resources,
- manage counter party limits and accounting balances,
- while potentially generating economic profit and net income rather than letting liabilities run off to natural expiration.
A recently published report show the results from a (re)insurance runoff survey conducted by EY and AIRROC. The responses from the full industry survey offer insights as to:
- the size of the run off market,
- the types of restructuring tools the industry respondents utilize,
- intel into how companies strategically manage legacy business,
- and opinions on what the future holds for runoff.
The panel will share their experiences and impart why "run off" is a very relevant part of the insurance industry today and going forward. A look at the challenges and the opportunities (including the newly adopted Rhode Island Regulation 68) will wrap up the discussion.