A number of you have asked about the impact of Hurricane Irene on AEGIS members. We surveyed the membership last week and confirmed that 18 member companies have sustained property losses to T&D systems, plants and other equipment. We have received one liability notice involving contact with downed power lines but, to date, there have been no other incidents reported.
As most of you know, our property facility in New Jersey focuses primarily on electric generation and gas utility facilities and does not normally insure T&D. Based on the information we have now, we believe the insured losses, including flood, will fall within the range of possibilities we’ve envisioned for hurricanes of this magnitude. AEGIS London has some exposure to Hurricane Irene through their varied subscription writings but those losses appear to be manageable as well.
All of these losses are expected to fall within the parameters contemplated by our reinsurance programs and their retentions for both facilities. We will continue to work with members to analyze the losses and provide you with the appropriate updates.
Our thanks to all of you who attended our annual Policyholders' Conference in Chicago. More than 1,000 attended the event this year, which was particularly gratifying given the ongoing restrictions on travel budgets at a number of member and broker companies.
Many of the general session and breakout session presentations are posted on our website – including Bob Hartwig's presentation on mega-catastrophes and insurance market conditions and David Owen’s presentation on the major strategic, legislative and regulatory issues facing the utility industry.
Your comments on the PHC evaluation forms were very positive regarding the program content, networking opportunities and activities. We are also grateful for your constructive suggestions for improvement and will consider them carefully as we plan next year's conference, which will be held July 16 to July 19, 2012 at the Westin Seattle.
AEGIS Loss Control introduced a new capability of the AEGIS website at the Policyholders’ Conference that was created especially for the operations, engineering and safety personnel at AEGIS member companies. With a secure member company access code, risk managers can now share on-demand safety and training videos, webinars, educational workshops, property and utility risk assessment tools, and publications with colleagues who may not normally have access to this useful content. The password-protected Loss Control content can be accessed by any employee of an AEGIS member company by following these steps:
Go to http://www.aegislink.com/portal/losscontrolaccess.do
Enter username: email@example.com
Enter password: Loss2011
Follow on-screen instructions
This new access is for the password-protected Loss Control content only. It does not provide access to the password-protected policy or claims content. Please help reduce your cost of risk and ensure the reliability of your company’s operating system by sharing this new access with your colleagues in the operations, engineering and safety areas of your company. For more information, please call AEGIS Loss Control at 201.508.2736.
Our next two regional member and broker meetings will be held on Thursday, October 13 in New York at the Affinia Manhattan and Wednesday, December 7 in Houston at the Sheraton North Houston.
As those of you who've attended one of our regional meetings already know, the main purpose is to give you an opportunity to tell us what you need and how we're doing. Most attendees also find these forums to be a great opportunity for comparing notes on risk management issues with other risk managers and brokers. We'll also spend some time telling you about our latest initiatives and answer any questions you may have. Please come prepared to discuss risk management issues, the current insurance market, enterprise risk management and other topics.
The meeting is a one-day event so most of you will be able to drive or fly between home and the meeting on the same day. However, if you'd like to stay overnight, AEGIS will reimburse one person from each member company for one night's stay in the meeting hotel.
If you have questions about the meeting, please contact Molly Lenz by e-mail or at 201.508.2805. For questions about the hotel or other logistics, please contact Carrie White by e-mail or at 201.508.2840.
We're pleased to announce that Bill Powell, Manager – Risk Management & Environmental Services at Salt River Project, will join AEGIS on November 14 as Vice President, Member Relations. In his new role, Bill will spend much of his time traveling – meeting in-person with members and brokers, discussing your needs and issues, and collecting your input on the types of underwriting and loss control products and services we offer. We expect to take advantage of Bill’s extensive background and experience in loss control and public safety to sharpen our tools and make sure you’re aware of everything AEGIS Loss Control can do for you.
Please register now for the next AEGIS Claims Roundtable seminar – Directing the Discovery Process to Accurately Evaluate the Case – which will be held on Thursday, October 13 in East Rutherford and Thursday, October 27 in Las Vegas.
Most lawsuits are settled after discovery is complete, because both sides have had the opportunity to assess the relative strength and weaknesses of each side’s case. In this Roundtable, experienced trial attorneys, in-house counsel and utility risk and claims professionals will discuss strategies for emphasizing your strengths and exposing the other side’s weaknesses, for use before incurring the expense of discovery and, if necessary, during the discovery process. They will discuss strategies and methods for early case assessment, applicability of privileges to protect evidence from discovery, avoidance of sanctions, expert discovery, and e-discovery and document retention.
As always, you're welcome to attend AEGIS Claims Roundtables in person or by videoconference, and Continuing Legal Education (CLE) credits are offered. For more information about the AEGIS Claims Roundtable program, please contact Jeff Schupack by e-mail or by phone at 201.508.2658.