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Article – Analysis of PIAA members 2011 reported data

David Spiegler, Executive Vice President and Chief Actuary at BMS appears in the Physician Insurer Magazine, Second Quarter edition.

David talks about the findings of the BMS analysis of the 2011 data reported for the PIAA group of member companies.

Click here to read a PDF of the Article

“Reprinted from the Second Quarter 2012 issue of Physician Insurer Magazine, Physician Insurers Association of America. Copyright, 2012.”

Click here for more information on the BMS Analytical Services Team and Products.

BMS Charity Quiz 2012

On 2nd May 2012, BMS hosted a charity quiz night and auction in aid of the Hackney Schools Mentoring Programme. Staff from within BMS have been involved with the charity for the last two years, acting as business mentors to Year 10/11 children from schools in Hackney. We were approached by the charity to assist in raising funds after they lost 45% of their annual budget when local authority funding was completely cut.

The event was held at the Abbey Bar in the Minories and was attended by 25 teams totalling over 150 people. The teams were made up of staff from within BMS, our markets, IT companies, law firms; and teams from ELBA and the Lloyd’s Community Programme. Auction and raffle items were donated by teams and individuals within BMS; CMS Cameron McKenna; rugby clubs and local high street businesses.

A great night was had by all with the winning team, The InQuizables captained by Steve Ferns, beating Faraday’s team by just half a point! Each winning team member received a bottle of champagne. A fantastic amount of money was raised – almost £3,500 in total. The largest amounts raised on the night were £475 for a 3 night stay in a private villa in Portugal (a raffle prize donated by BMS Risk solutions and won by Hannah Payson from LCP); £250 for a sailing trip for the day including lunch for 4 people (an auction item donated by Pioneer Underwriting and won by Ben Churney from Sequel); and £110 for a case of 12 wines (an auction item donated by BMS Re and won by Liam Kane from ELBA).

CEO of the East London Business Alliance, Liane Kane said:

 …what was an outstanding fund raising evening. Everybody at Hackney Schools Mentoring Programme and at East London Business Alliance, was blown away by your success. It was the best quiz night I have ever attended and many people agreed with me on the night.

Well organised, professional and I still don’t know how you got 150 people to turn out on a wet Wednesday night. Many thanks to you and BMS from all of us at HSMP and my only question is – can we do it again?!”

A big thank you to all who contributed in making this such a successful night either by attending; buying raffle tickets or bidding on the auction items. In particular, thanks goes to Andy Jarrett (Quizmaster); Paul Clephane (who worked tirelessly collecting and scoring the answer sheets) and Deryl Walsh of HSMP (who did a brilliant job as an auctioneer).

To see all the items that were auctioned, click here.

Click here to learn more about the Hackney Schools Mentoring Programme

EXCLUSIVE ILW REPORT: Vitality from volatility?

BMS’ Stefano Nicolini featured in the Intelligent Insurer exclusive ILW report.

Click here to read the full report.

To read more about BMS’ ILW offering click here

Hot Topics of the PLUS Symposium

Nikole Maus, Assistant VP BMS Specialty Casualty Team, discusses the themes that dominated the PLUS Medical Professional Liability Symposium 2012:

The resounding theme at the 2012 PLUS Medical Professional Liability Symposium was that change is coming and how do we prepare for it? The conference kicked off with rather a ‘doomsday’ forecast by Cyber Security Expert, Juval Aviv (former Israeli Secret Service and a leading authority on terrorist networks, and their inner workings). He surely incited many attendees to create their disaster plans on their flights home! However, more seriously, whether it is through ACO’s, Technology, Changing Regulation/Litigation, Claim Trends or ERM, there are changes set in motion that even a strike down of the PPACA will not prevent.

It is critical for all of us in the Healthcare space to closely watch the changing demographics of Healthcare Providers and the impact (and exposure) the new technologies of the age will have on this business. The panelists gave many examples of how these changes will drive the frequency, severity and types of MPL claims brought forth in the coming years. Furthermore, the insertion of ACO’s and the coming together of Hospitals and Physician Groups may gray the lines of the insurance and reinsurance coverages currently in place.  The reinsurance industry needs to ensure we are responsive to the integrated healthcare system – at all spectrums.

Fundamentally, as an industry, we must be ahead of the curve to ensure our clients have the coverages in place to help navigate them through the changes to come.

BMS launches global construction initiative

BMS announced the launch of its global construction initiative, responding to the needs of its clients around the world.

Gavin Madell, previously Director of Price Forbes’ Power and Construction business, joins the BMS Wholesale, Risk Solutions Team to lead the new initiative.

Click here to view the BMS Wholesale, Risk Solution Team Home Page

Media Links to this story:

Business Insurance Feature, click here to access the Business Insurance website

Inside Fac Feature, click here to access the Inside Fac website

Insurance Day Feature, click here to access the Insurance Day website

Global Reinsurance Feature, click here to access the Global Reinsurance website

Insurance Journal Feature, click here to access the Insurance Journal website

Analytics Feature – Asset classes & the MPL insurer

Mike Larson, BMS EVP and Head of Actuarial Services featured the Physician Insurer Magazine discussing the role of various asset classes in the portfolio of an MPL insurer.

Click here to read the full article

Reprinted from the first Quarter 2012 issue of Physician Insurer Magazine, Physician Insurers Association of America. Copyright, 2012.

ILW buyers becoming sellers

Stefano Nicolini, SVP,  featured in a news piece in Intelligent Insurer Magazine commenting on how reinsurers who previously bought Industry Loss Warranties (ILWs) appear to now be turning into sellers as a response to the current market.

To read the Full article please click here

Press Coverage – New York Office

News of the BMS Manhattan office opening was widely covered in the press – acknowledging its significance in the continued growth of the BMS offering in the US.

Here is a selection of stories covering the opening:

Business InsuranceBroker BMS Group opens New York office

Global ReinsuranceBMS opens New York office

Reactions: BMS New York Office plans

Insurance insiderBMS targets US growth with New York office and CEO relocation

Insurance day BMS CEO’s New York move signals strategic focus on US growth

Post OnlineBMS opens in New York

Insurance JournalU.K.-based Broker BMS Group Opens New York Office

 

 

Chris Ritchie, Risk Solutions, Profiled in Insurance Day

Chris Ritchie, Director BMS Wholesale – Risk Solutions, featured in a profile piece in Insurance Day on 20th January. The profile covered his career in insurance, his love of rugby, future plans at BMS, industry heroes and on a lighter note, his favourite food and holiday destination.

To read the full article please click here

For more about the BMS Risk Solutions team – please click here

 

This article is copyright Informa and is reproduced with permission. Reproduction, retrieval, copying or transmission of this article is not permitted without the publisher’s prior consent. Informa does not guarantee the accuracy of the information contained in this article nor does it accept responsibility for errors or omissions or their consequences.

This article appeared in Insurance Day on January 20, 2012. For more information visit: www.insuranceday.com

Analytical Feature: Physician Insurer

Dave Spiegler, EVP & Chief Actuary and Mike Larson, EVP, featured in the Foresight feature in the Physician Insurer –  debating the interplay between the financial markets, medical professional liability (MPL) insurance companies’ rates and reserves and how MLP companies should be preparing for the next stage of the insurance cycle.

Click here to view the PDF of the full article

Reprinted from the fourth Quarter 2011 issue of Physician Insurer Magazine, Physician Insurers Association of America. Copyright, 2011.