London Calling... SIEF Summit Imparts ‘Brilliant’ Lessons from Across the Pond
L
ondon is known for Buckingham Palace, Big Ben, the Royal Albert Hall and Harrods, among other historic landmarks. It’s also home to Lloyd’s of London, known for managing unusual risks for 327 years and a driving force behind self-funded markets around the globe.
Just across the street, a group of senior executives representing global selffunding and alternative risk markets assembled for last month’s Self-Insurance Executive Summit. The event was sponsored by the Self-Insurance Educational Foundation (SIEF), the nonprofit educational arm of the Self-Insurance Institute of America (SIIA). It featured attendees and speakers from major corporations across the U.S. and Europe. Hot topics included captive growth, U.S. health care policy, the Affordable Care Act, global medical trends and the looming implementation of Solvency II, a financial standard governing insurance regulation across the European Union that takes effect in January.
Written by Bruce Shutan 42
The Self-Insurer | www.sipconline.net
SIEF Chairman Nigel Wallbank, who’s also president of New Horizon Insurance Solutions, references “a fabulous presentation” on Lloyd’s of London by Colin Bird, chairman and CEO of Besso Insurance Group Limited. He says the summit represented a good opportunity for attendees “to learn about the way that special risk is conducted in Europe and in Lloyd’s and how that supports