This is an archived article. For the latest news, go to the Advance Homepage
For more archives, go to the Advance Archive/Search Page.
Event to Focus on Insurance After September 11
By Allison Thompson
The insurance industry was one of the first business sectors to react to the events of September 11, with executives and regulators trying to determine how to fairly and effectively compensate the businesses and people directly affected by the terrorist attacks. Six months after the attacks, the School of Law's Insurance Law Center will hold the first conference to examine their effect on the liability and insurance industries.
The symposium, "Liability and Insurance after September 11th," will take place on March 21 and 22 at the School of Law, 55 Elizabeth Street, Hartford. Insurance regulators, academics and attorneys from around the world will gather to discuss how the World Trade Center and Pentagon tragedies have changed the insurance industry.
"We want to look at how the industry can and will be stabilized after the events of September 11," says Anne Engel, deputy director of the Insurance Law Center. "We'll also examine how we look at catastrophic risks and other risks, using September 11 as a jumping-off point."
The conference will begin on Thursday, March 21, with introductory remarks from Nell Jessup Newton, dean of the Law School; Tom Baker, director of the Insurance Law Center; and Patrick Liedtke, secretary general of the Geneva Association. The association, formed by 80 chief executive officers of insurance companies from around the world, researches the growing economic importance of worldwide insurance activities. Following the opening comments, a panel of experts will explore lessons learned from the events of September 11. Gregory Serio, the New York Superintendent
of Insurance, is scheduled to be one of the participants in the panel discussion, "Liability and Insurance Lessons from the World Trade Center Disaster."
The afternoon's panel discussion, "Rethinking Catastrophes, Security and Insurance," will include participants from universities in the United States and abroad, and current and former insurance commissioners. A report from the Geneva Association Chief Economists' Meeting will follow the discussion.
On Friday, March 22, the morning's discussion will focus on the issue of compensating victims of the September 11 tragedies. Trial lawyers and academics will participate in the panel discussion, titled "September 11 Victim Compensation Fund: A Model for the Future."
The final panel discussion, "When All Else Fails: Government as the Ultimate Risk Manager," will explore the government's role in the insurance and liability industries. Scheduled
participants include David Moss, an associate professor at the Harvard Business School, and Charles R. Welsh, a partner at the Hartford office of law firm Edwards & Angell. The conference will end with concluding remarks from Baker and Liedtke.
"Six months after September 11, we're able to take a step back from the terrorist attacks and examine how they have affected the insurance industry," Baker says.
Space is limited. Anyone interested in attending the symposium, should contact Anne Engel at (860) 570-5177 or by e-mail: firstname.lastname@example.org.