Update: 2019 Miami Latin American Claims (Re)Insurance Forum

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June 11 to 14 will mark the fifth edition of the annual Miami Latin American Claims (Re)Insurance Forum. Organized by Kennedys CMK and QLDG, it brings together key international and Latin American industry experts that will analyze top underwriting and claims issues, trends and developments in the region.

Roundtables by global and regional market leaders on industry-wide topics will precede practical sessions on a range of issues including:

• cyber related to property risks, social engineering under BBB
• a mock mediation on environmental liability case study
• ALOP to BI issues on a project from construction to operational phase
• business interruption on energy and mining losses
• class actions and regulatory developments in Colombia and Peru

Topics and case studies have been carefully chosen based on current affairs and the feedback received by attendees from last year.

Many thanks to our welcome cocktail patron Abaco as well as Advanta, Crawford, Envista Forensics, IRB Brasil Re, J.S. Held, Rimac, R&G Espinosa and Sedgwick for their continued sponsorship.

The Program can be found HERE.

This is an exclusive event, attendance is by invitation only, places are limited and selling out quickly.

Simultaneous translation in Spanish and English available.

For information about the Forum, please contact:
Juan E. Lopez-Santini: jlopez@qldg.com
Hilda Welcker: hilda.welcker@kennedyscmk.com

Registration
To register, please click HERE and use the code FORUM2019 (case sensitive)

ALL 9 sponsors

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Risk of Politics in Latin American claims-upcoming panel discussion in London on March 14th

Aerial View of Rainforest in Brazil

Join us in London on March 14th for a timely panel discussion on how politics affect claims in Latin America.

Focusing on Brazil, Mexico, Peru and Venezuela we will discuss:

• Geopolitical risk including legal institutions, delay and corruption
• Natural disasters and environmental issues – the shortcomings of local regulation and  compensation parameters
• Brexit – potential trade challenges
• International arbitration
• Dispute resolution

Time:
16:15 pm Registration and refreshments
16.30 pm Panel discussion begins
17:45 pm Drinks and canapés

Where: Kennedys. 25 Fenchurch Avenue. London

Registration: RSVP clicking HERE

Full programme and speakers HERE

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Is LATAM ready for BIM?

construction worker on construction site

BIM (Building Information Modeling) which will be mandatory in Brazil from 2021, is an intelligent 3D/4D and 5D model-based process providing architects, engineers, contractors and developers with greater insight into their projects. It is perceived to provide enhanced integration of project processes, improved project performance (e.g. cost, time and environmental performance) and outcome predictability.

Both the construction and insurance industry have embraced BIM.  The use has grown exponentially in the UK where it originated in 2011 (according to the BIM study released in May 2018, 75% of project teams in the UK are using BIM and it has grown year on year). This growth is in part due to the UK government mandating the use of BIM for all centrally procured government projects from April 2016.

According to research by Teeside University, BIM is used by 85% of Brazil’s biggest contractors, with a focus on cost control in the construction phase rather than collaboration at design stage. Brazil’s transport department is also embracing BIM with a 30% costs saving target. A notable project utilising BIM was the 44,000-seat Amazon Arena in Manaus.

Elsewhere in LATAM, BIM was used from the outset on the Panama Canal expansion, allowing designers in five different offices worldwide to collaborate on one 3D model. Construction of Mexico City’s new airport (which was cancelled mid-way through) involved the use of BIM, including modelling of geotechnical conditions – the site is in a seismic zone – to help civil works. The use of BIM for seismic zones should prove very useful for the region.

Benefits of BIM

Providing for more certainty in respect of construction risks underwritten, BIM is a tool that should be welcomed by insurers, helping to identify fault when problems arise. BIM can also be used for asset management so that the insurer has full understanding and visibility on the exact specification and make and model of all fixtures and fittings within a building, avoiding debates with insureds about underinsurance or lack of cover.

The Brazilian army already uses OPUS (similar to BIM), but elsewhere the cost of implementing BIM can be prohibitive on an industry which is already tightly squeezed since the Lava Jato scandal significantly impacted the industry. https://insuranceprofessionalsmiami.com/2017/11/16/the-fallout-from-lava-jato
In countries like Chile, Colombia or Peru it is being used but at a slow pace and only for large projects.

Comment

Whilst studies indicate that by 2020 the BIM market will increase to 11% in LATAM, the region does not have a well-developed professional indemnity market which could be a potential spanner in the works to further growth. In most LATAM jurisdictions, it is not compulsory for architects or engineers to hold professional liability insurance, which prevents claims against professionals as there is no guarantee of a recovery.

Great reliance is placed on Construction/Engineering All Risks (CAR) policies which may capture some elements of design (but usually for on-site activities only and with many exclusions).

If there is insurance, it is important that the insurer knows about the use of BIM from the start and that the project is procured clearly, as a common problem will be the possible blurring of responsibility between consultants.

Where professional indemnity insurers of construction professionals do exist, they should obtain confirmation from their insureds of the incorporation of BIM into agreements by competent lawyers, to ensure the correct obligations are being allocated to the insured and additional duties are not being adopted in error.

A more comprehensive version of this article is available at https://www.kennedyslaw.com/thought-leadership/article/is-it-chicken-and-egg-when-it-comes-to-the-growth-of-bim-and-professional-indemnity-insurance-in-latin-america/

Author/Contact:
Anna Weiss, Head of Construction for Latin America and Caribbean at Kennedys CMK

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Upcoming Miami Seminar: Insurance industry challenges when handling claims in Venezuela

aerial falls

Please join us to discuss perspectives on the scope of OFAC sanctions on Venezuelan entities and individuals, their implications when handling claims in Venezuela and other difficulties reinsurers face when handling Venezuelan claims as disparities in official exchange rates and underinsurance.

lorena avilaLorena Avila
Lorena is a Venezuelan qualified lawyer since 2005 and a Foreign Legal Consultant in Kennedys’ Miami office.
She works for major insurers and reinsurers on large and complex claims in Venezuela and Latin America. Her practice is also focused on regulatory matters and providing legal assistance to international reinsurers and intermediaries to comply with the regulatory framework for insurance activity in Latin America and the Caribbean.
Before joining Kennedys in 2012, Lorena worked for a boutique law firm in Venezuela for six years. She has more than 10 years of legal experience in Latin America.
Lorena is the main researcher for the third edition of The Guide of insurance and reinsurance law in Latin America and Iberian Peninsula.

Date: January 15th, 2019
Time:
5:15 pm Registration
5.30 pm Conference
6:00 pm Informal discussion
6:15 pm Networking
Where: Malbec Room at Novecento 1414 Brickell Ave, MIAMI, FL 33131
Registration deadline: January 14th, 2019 at 1:00 pm. Only 40 tickets available.
To register, please email: hilda.welcker@kennedyscmk.com
Business casual attire. Cost: Free

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Upcoming Women in (Re)Insurance event in Miami on November 13, 2018

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5th Miami Latin American Claims (Re)Insurance Forum

Three days of in-depth discussion on current topical issues and trends of the (Re)insurance market, with (re)insurers experts and top industry speakers.

Forum2019_header_blog-03 logos BLACK

Kennedys CMK and QLDG are pleased to announce the 5th edition of the annual Miami / Latin American Claims (Re) Insurance Forum, the event of choice of the insurance industry in the region. It will be held in Miami from June 11th (Evening Cocktail) to June 14th 2019, at the Conrad Miami hotel.

As in previous years, the Forum will bring together key International and Latin American industry experts who will be analyzing top claims issues and developments in Latin America & the Caribbean. Topics and case studies are carefully chosen based on current affairs and the feedback received by professionals from the (re)insurance industry.

WHEN: June 11th – 14th, 2019

WHERE: Conrad Miami Hotel. 1395 Brickell Ave. Miami, FL 33131

You can check the Preliminary Program HERE

Thank you to our confirmed sponsors Advanta, Envista Forensics, J.S. Held, Rimac, Sedgwick and the Welcome cocktail sponsor Ábaco International Loss Adjusters for their support.

This is an exclusive event, attendance is by invitation only, as places are limited. Registration is already open.
TO REGISTER CLICK HERE using the code: FORUM2019
The code is case sensitive.

Sept 25 Sponsors ALL

For additional sponsorship and speaker opportunities please contact us:

Alex Guillamont: alex.guillamont@kennedyscmk.com
Juan E. Lopez-Santini: jlopez@qldg.com
Hilda Welcker: hilda.welcker@kennedyscmk.com

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Upcoming Insurance Free Seminar in Miami: How do we understand General Average?

24152409 - container ship awreck on the beach

The law of general average is a legal principle of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency (for instance, when the crew throws some cargo overboard to lighten the ship in a storm). General Averages are greatly misunderstood and complicated to adjust. This presentation will provide some clarity into this interesting subject.

Please join us in congratulating Mr. McQuattie for his 44 years in the insurance industry and his 25th Anniversary at AIG!

R McQuattie picRicardo McQuattie
Mr. McQuattie is SVP Marine Claims for the US and Canada at AIG since 2016. A born and raised Venezuelan, he started his insurance career in Caracas with Seguros Orinoco, in 1974 as an apprentice in the marine underwriting department. In 1976 he moves to Seguros American International where he became manager of the home foreign department, which provided service to multinational accounts and thereafter became an assistant branch manager.
In 1983 he worked as production manager and then vice president at Orcoseca, an insurance brokerage firm.  In 1986 he joined a loss adjusting company, Toplis and Harding de Venezuela, where he became a marine loss adjuster and then specialized in aviation adjusting, becoming Lloyd’s Aviation Department’s agent for Venezuela. In 1993 he was called by American International Underwriters in order to take charge of the regional marine claims office for the Latin American division.
In November of 2005 he was transferred to Guam as General Manager of Guam Insurance Adjusters, Inc., claims entity for the MGA operation. Territory included Guam, Northern Marianas Commonwealth, Federated States of Micronesia and the Marshall Is. He stayed in Guam until December of 2008. In January 2009 he was transferred to US as Vice President Marine Claims for Chartis International with additional responsibilities as Regional Marine Claims Manager to the Latin America Region. In 2013 additional responsibilities are given to him to include Managing Specialty claims (Aerospace, Marine, Trade Credit and Surety).

Date: October 9th , 2018

Time

5:15 pm Registration

5.30 pm Conference

6:00 pm Informal discussion

6:15 pm Networking

Where: Malbec Room of Novecento 1414 Brickell Ave, Miami, FL 33131

Registration deadline: October 8th, 2018 at 1:00PM. Only 40 available tickets.

To register, please send an email to: hilda.welcker@kennedyscmk.com

Casual attire. Cost for this event: Free

 

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