|Austria :||Hubert Tramposch|
Annick Van Malderghem
|Brazil :||Rodrigo Marinho Crespo|
|Bulgaria :||Rozalina Gradinarova|
|France :||Amelia Brault|
|Germany :||Ralf-Thomas Wittmann|
|Greece :||Ioannis Pantelidis|
|Ireland :||Margaret Carey|
|Italy :||Alessandro Giorgetti|
Trond Werner Lunde
|Spain & Portugal:||
Enrique Belzuz Fernandez (President)
|Sweden :||Christer A. Holm|
|The Netherlands :||
Bertjan de Lange (Treasurer)
Bill Perry (Vice-President)
David Brackenbury (Marketing and Communications Director)
Bruce Barze – Alabama
Alex Pencu / Chris Major – Connecticut
Robert Scott Newman / Joel Adler – Florida
Robert J. Bates Jr. – Illinois
Dan Gerber / Sharon Angelino – New York
Joe O”neil – Pennsylvania
David Rheney – South Carolina
Gino Marchetti – Tennessee
|Mexico (as observers) :||Jorge leon-Orantes / Cesar Gerardo Cruz|
The meeting was called to order at 09:50 am.
The President Enrique Belzuz welcomed Members to the meeting.
He also welcomed the New Members and Observers to the meeting and on his request they introduced themselves:
Goldberg Segalla LLP – Member for New York USA
Lavin O”Neil Ricci, Cedrone & DiSipio – Member for Pennsylvania USA
Gallivan White & Boyd P.A. – Member for South Carolina USA
Balch & Bingham LLP – Member for Alabama USA
Meister Seelig & Fein LLP – Member for Connecticut USA
Santamarina y Steta – Mexico (Observers)
The Arc Group (Canada)
Kaya & Partners (Turkey)
Turpel & Schank (Luxembourg)
All Members reported on their firms and provided updates on firm structure and significant cases.
References were made to some collaborations between firms:
Bates Carey Nicoliades with Kaya and Partners (a meeting occurred in Chicago)
Marlow, Connell, Abrams, Adler, Newman & Lewis with Carter Perry Bailey
Grooterhorst with the Netherlands, Portugal, France and Norway
Streefkerk with France, Belgium, Spain, Germany and Turkey
Belzuz Abocados with France.
Carter Perry Bailey with France, Germany, and Spain / Portugal
Scott Newman pointed out that Alex Giorgetti had been instrumental in getting the US Members to join Insuralex and thanked him on behalf of the Group
Feedback from Members on Seminar
There was a recognition of the Members who had contributed to the invitation list.
Those members were CBP(UK), Alex Giorgetti (Italy), Enrique Belzuz (Spain/Portugal, Amelia Brault (France), DFMG (Ireland), and Dan Gerber (USANY). There was also recognition of the work done by David Brackenbury to assemble the list and get invitations to the guests. Mr. Belzuz emphasized the need for all members to contribute London contacts for the invitation list for future events. Enrique mentioned that next year the organizers (officers , host and DB ) will take notice of this year’s mistakes and that a check list of essential steps will be produced . It was agreed that Insuralex should maintain an on-going contact list for future events in London and to assist with marketing efforts.. Special thanks were offered to CPB for its assistance in contacting invitees and encouraging attendance.
Discussion was had on the possibility of the London Meeting being an all afternoon event, but it was agreed that it would be too much to ask London invitees to take a whole afternoon off. It was noted that this approach could work well in other areas.
It was generally believed that the speaker was excellent and the presentation interesting, but it was commented by some that the subject was rather focused on aspects of Risk Management, not insurance. Also with the Speaker coming from Marsh, it was felt that this may have deterred some other Brokers from attending. A panel of speakers was suggested, but Members were reminded by the Secretary that the Budget was limited and that Warren Harper had been very generous with his expenses and time. The question was raised whether the speaker’s presentation should be circulated to Members before the meeting. It was agreed this was a good idea, but in this instance, that was not workable because the presentation was proprietary Marsh work.
It was agreed to submit a questionnaire to those who attended asking for feedback on the event. David Brackenbury (DB) will compose and send questionnaire..
It was also agreed that DB will begin preparing a global list of Insuralex contacts, based on the information received from the invitation lists and those contacts held by Members.
Minutes of the Insuralex AGM in Vienna
These minutes were presented, discussed and Approved.
Feedback on London Marketing meetings
DB reported on an excellent series of meetings with Enrique and Bertjan representing the Group on the Tuesday and US colleagues meeting on Wednesday. Both days went extremely well and there was good feedback from the Market.
Meetings were held with
K. Underhill – ACE
John Douglas – AEGIS
Richard Eveleigh – Chubb
Stephen Chapman – Ascot
Justin Brewster – Chaucer
Neale Etheridge – Travelers
Pat Gleeson – Munich Re
Keith Warren – XCS
Julius Crosby – QBE
Helene Polycarpou, Paul Whellams – Navigators
Matt Drewry – Catlin
Enrique pointed out that meetings in London were available to all Members and encouraged more Members to take advantage of the opportunity.
Enrique reported on the very good meeting with Julius Crosby at QBE, who will need to revise their Panel with new Members, fee rates etc.
There was discussion about the various offices and entities of QBE and how to market our Members around the world.
There was also discussion about how to market the Group in general terms. Some ideas included coordinating visits to London and encouraging visits to the Market, meeting with Underwriters etc.
Rodrigo thanked Bill Perry and DB for arranging a successful meeting with a Brazilian Broker and a Lloyd’s Broker.
Discussion on funding DB
There was a general discussion on this topic and it was agreed that each Member may have up to 5 hours of David’s time on the Group and would have to pay for activities in excess of this. This, obviously, would not apply for David’s work for Insuralex as a whole – Agreed
Discussion about David’s role and Admin
DB left the meeting while this item was discussed coming to the conclusion that
The officers reported that they felt tha DB was good on PR with good acquaintances and communications,but for the time being not as good on administrative tasks . It was therefore decided that the officers would talk to him, redefine tasks and allow a 3 month extended period for improving certain administrative skills.
The meeting was then adjourned for the lunch break
CEE working Committee.
This committee consists of ;
-Alex Giorgetti (Italy),
-Hubert Tramposch (Austria),
-Rozalina Gradin (Bulgaria),
– Ioannis Pantelidis (Greece).
There was a discussion about the three Eastern European Conferences at Hydra, Sinoia in Romania and in Slovenia. AG (Italy) made the point that it was important to develop our participation at these events. The Romania event fills up quickly and it was suggested that Alex Pencu (USA-Connecticut), Ioannis Pantelidis (Greece) and AG (Italy) might go , and Bertjan de Lange (Netherlands) said that funds were allocated for the three meetings in the budget., but the treasurer should be informed beforehand of likely costs .
The CEE Committee have identified 15 prospective Members, but questionnaires have not been sent to them. The CEE Committee requested that the responsibility for sending questionnaires, evaluating potential candidates and making recommendations to the Board be delegated to the committee. It was agreed that the committee would act in that way. . Michael Connelly (USA-Texas) reminded the committee that the questionnaire has been revised and agreed to forward the revised questionnaire to the committee.
AG (Italy) has identified a well-regarded firm in Switzerland (Schellenberg Wittmer) based in Zurich and Lausanne. He will continue with the evaluation. It was generally agreed that Insuralex should have a representative from Switzerland. DB also reported that he had heard from a firm in Cyprus and sent details to AG. Ioannis commented that it would be better for such a practice to be based in Nicosia rather than Larnaca. It was pointed out that this potential candidate has a wellconnected, leading practice in Cyprus.
William Sturge presented a report on the very positive meeting at Hydra. It is the Eastern European equivalent of the Monte Carlo meeting with 300-400 official delegates. DAC and Holman Fenwick were present, but Ioannis was the only Greek lawyer present. It was observed that Ioannis Pantilides (Greece) was extremely well connected at the meeting and gave Insuralex great representation. William was .speaking to Brokers and Reinsurance contacts in the Greek and London Insurance Markets. WS didn’t think Insuralex had such a high profile and suggested we should be on the delegate list and have business cards and a targeted brochure for distribution. It is important to know what we want to achieve and to be able to offer solutions to clients. We should have a strategy in place very soon. It was agreed that UK and Germany are important to be represented at the meeting. In terms of expansion of Insuralex in Eastern Europe and elsewhere it was agreed that we need to build on business and protect the Insuralex brand and standards.
BP (UK) introduced the proposed rule changes
It was agreed that full D&O coverage should be in place for the Board. Members were unhappy with 12.3 (indemnity for Officers), so that proposal was withdrawn.
The proposed change of jurisdiction was commented but the decision adjourned , because there needs to be more work evaluating the jurisdiction for the group. It was withdrawn pending further evaluation .BP agreed to obtain further tax counsel and report later.
10.2 – was amended from the floor to have the outgoing VP become the new President without a approval vote.
9.6.8 – It was commented that any expulsion vote should be brought formally at a general meeting, so that the affected member had a chance to be present and defend the circumstances. It was agreed that the proposed rule change will be accepted, but allow the President to call for an electronic vote, if urgent.
9.3.1 – In a case where a Member no longer has expertise, the Group could expel, but it was agreed that this would not practically happen unless the situation was pretty obvious – Amendment carried.
Michael Connelly (USA-Texas) presented proposed amendments from the floor to the language of Rule 1, the entirety of Rule 6, and the entirety of Rule 7. The justification for Rule 6 was to create rules reflecting the process for admission of new members, and for Rule 7 was to restate and reorganize the obligations of the contracting parties. Rule 1. The Members approved the amendment. Rule 6 – The Members approved the amendments. Rule 7 – The members approved the amendments with the addition of language “unless prohibited by law or agreement”. on Sections 7.11 and 7.12.
Report from Brazil
Rodrigo Crespo made a presentation on Brazil, which showed the depth of insurance business in the country, especially after the changes to the IRB monopoly. He also gave a very clear overview of the emerging strength of the Brazilian economy and the key position it occupies in South America.
Potential New Members
DB reported that he had discussed the Insuralex Group with Murchison and Cuming (USA – California) and Rachel Leviatan (Israel). A firm in South Africa is also being considered. (Irwin Bedver). The Secretary reported that candidates were also being considered in the UAE, Croatia with possibilities in Poland, Romania, Malta and possibly Singapore. Questionnaire responses have been received from the candidates in UAE and Croatia. The Croatian candidate was referred to the CEE committee for further evaluation. The Board will proceed with the evaluation of the UAE candidate.
It was generally agreed that there was a desire to expand the Insuralex network, but not at the expense of quality. It would be necessary to canvass in the jurisdiction to ensure that we are selecting the right firm.
There was a discussion about Australia, where two firms in two jurisdictions are under consideration. It was agreed the President writes to CBP, who had already been accepted by Members to invite them and inform them of the jurisdictional restriction.. We will then need to consider Membership and jurisdiction of Whatton and Kearney.
Insuralex AGM 2012
This will be held at the Marriot Hotel, Michigan Avenue, Chicago from 7-8th June 2012. Bob Bates made a presentation of the city and the proposed arrangements, providing Members with much background information. The US Members have discussed this and feel that a 3 hour educational seminar may be able to encourage participants to travel from elsewhere in the USA to attend. Items that are being considered include ADR, Mediation, Bad Faith and Electronic Discovery, and any contributions would be welcomed. Various other activities for Members and any Spouses have been suggested and Members commented that a lot of effort had been put into these plans.. 25 Rooms have been booked in the Marriot for US$259 per night on a first come first served basis.
Enrique requested that details be emailed to all Members asap.
A discussion was had about where to hold future meetings and it was agreed that one meeting per annum should be in London owing to the concentration and importance of the London Insurance Market. There was suggestion of a third meeting, which would not be compulsory, or a General meeting, which could be held at a differing venue. Paris, Athens and Bermuda were all mooted and some concern was expressed about the cost to US Members especially.
It was agreed to arrange the London 2012 Midyear meeting on 7-9th November 2012.
Any Other Business It was noted that the Budget has not been discussed in detail, and it was agreed to deal with this via email, as Bertjan had left the meeting at this point.
Jorge Leon from Mexico said that it had been a pleasure to visit London in the company of a great bunch of lawyers and thanked everyone very much for their welcome and hospitality.
There was no further business and after thanking all Members for their contributions, the meeting was closed by the President at 17:15 hrs.