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Preliminary Agenda

Overarching Theme: Old Risks-New Solutions, or Is It the Other Way Around?


Welcome Theodore H. Moran, Georgetown University
Opening Remarks Izumi Kobayashi, EVP MIGA
“Post-2009: FDI Trends and Political Risk Perception”

Panel I: Changing Perceptions of Risk in the Aftermath of the Financial Crisis

How can changes in risk perceptions of investors in the aftermath of the financial crisis best be understood or characterized? To what extent are these risk perceptions shaped by the particular sector, commodity, or country concerns of investors?  In response to these changed perspectives, how have investors altered their risk management philosophies?  It is conventional wisdom that investors have become more risk adverse, but is there evidence that this is the case? Which investors seem to be most advantaged in the current international investment milieu?

In the face of more expropriations, more losses due to political violence and punitive tax changes, why have investors not turned more to investment insurers to address their risk management concerns?  Is it cost, hassle, ignorance, lack of relevance, eligibility, or better alternatives that have inhibited investors from turning to insurance solutions?

Chair and Commentator Kenneth W. Hansen, Partner, Chadbourne & Parke LLP
Panelists

James Bond, Chief Operating Officer, MIGA

  David Wright, Chief Underwriting Officer, Starr Underwriting Agents Limited

Coffee Break  and Networking Opportunity.

Panel II: Claims, Disputes, and Recoveries

At the macro level, what are the trends in claims, disputes, and recoveries, as revealed by Berne Union data? 

What is occurring in the shadows and “underground”- that is investment disputes and “near claims” that were quietly resolved, dissolved of their own accord, or were withdrawn before reaching a final determination by the insurer?  What insights can be garnered from analyzing/characterizing these “shadow difficulties” or “near claims”?  Would not investors benefit from greater knowledge about the occurrence of these “difficulties” and how they are treated by PRI insurers?   

In the trenches wrestling with individual investment disputes, what new instruments have proven useful? Or have the old reliable instruments proven their value once again? Have BITs and arbitration tribunals expedited the resolution of disputes? Have there been any “new solutions/ new developments” which will facilitate resolution of long-standing disputes in Argentina and elsewhere? 

Chair and Commentator Ana-Mita Betancourt, General Counsel, MIGA
Panelists Dr. Sabine Konrad, Partner, K&L Gates
  Robert O'Sullivan, Acting Deputy General Counsel and Associate General Counsel for Insurance and Claims, OPIC
  Tony George, Partner, Ince & Co

Lunch Break and Networking Opportunity

Panel III: Sovereign Risk and Political Risk – New Challenges

Is the demand for coverage of the non-honoring of sovereign debt obligations or guarantees in balance with the supply?  Are there any significant new developments on the supply side---the demand side? How difficult is it to balance the risk management desires of the client with the risk management needs of the insurer? What underwriting philosophy has proven useful for insurers in this area? What does the recent record demonstrate about risks associated with state-owned enterprises and evolving concepts of state responsibility?  To whom do BITS make a difference?  How has non-honoring coverage worked out in practice?  What have been the results of salvage efforts?  How can sub-sovereign obligations be enforced?

Chair and Commentator Dave Bailey, VP and Senior Underwriting Officer, Sovereign Risk Insurance Ltd.
Panelists Anne Marie Thurber, Senior Vice President and Managing Director Political Risk and Trade Credit, Zurich Surety, Credit & Political Risk
  Catherine Aubert, Head of Trade Credit and Political Risk Insurance, Société Générale

Coffee Break and Networking Opportunity

Panel IV: The Past as Future – Future of PRI

The six previous MIGA-Georgetown Symposia are filled with forecasts about the future of the international political risk management industry.  For the forecasts made in 2005 of the projected state of the PRI industry in 2010: Which forecasts proved insightful and why? Which failed to occur?  Which remain in a “to be determined” status?   What unanticipated circumstances have come to pass?  How well have investor needs been served?

Looking at the entire range of forecasts articulated at these Symposia over the last twelve years (and what has transpired), what lessons can be learned about trying to forecast for the future? Or is it better to construct alternative futures for the international political risk insurance industry of tomorrow?  What will the PRI industry look like in 2015?

Chair and Commentator Julie Martin, Senior Vice President in the Political Risk Practice, Marsh
Panelists Joanne Palmer, Director, Political Risk Insurance, Export Development Canada (EDC)
  John Salinger, President, Global Trade and Political Risk, Chartis
  Christina Westholm-Schroder, VP and Chief Underwriting Officer, Sovereign Risk Insurance Ltd.
  Frederick E. Jenney, Partner, Morrison & Foerster LLP 

Concluding Remarks and Reception


 


Karl F. Landegger Program
in International Business Diplomacy
School of Foreign Service
Georgetown University