Seminar: Typhoon and Business Interruption: Lessons from Hato and Mangkhut
16 Jan 2019
Global Corporate & Commercial are pleased to invite you to join us for an afternoon seminar on extreme weather:
In the past 2 years, the insurance industry was suffered by numerous extreme events including Typhoon Hato and Typhoon Mangkhut, which caused widespread flooding and damage across the region. The compounded effects of wind and storm surges have driven large amount of claims for property damage and business interruption. As global warming continues to affect us, powerful hurricanes and typhoons are set to become more frequent near the future. These extreme events may become the norm in the future. So the big question is: how can the insurance industry cope with the rising impact if extreme weather’s condition?
Main themes of the seminar:
- Typhoons history and increasing extreme weather phenomena, lessons learned and future challenges
- Observations on Typhoon Hato and Typhoon Mangkhut
- How can the insurance industry help? – Claims handling between Hato & Mangkhut
- Build up to the Typhoons and key differences
- Comparison in claim types between Hato and Mangkhut and relative impact in HK and Macau.
- Common challenges experienced in managing the event and the large influx of claims.
- Coverage considerations for PD and BI losses
- Business of adaptation and building climate resilience in Asia
RSVP and Enquiry:
Free Admission, First Come First Served, limited seats only
Date: Thursday, 31st January 2019 Time: 3pm-5pm
Venue: 16/F, Generali Tower, 8 Queen’s Road East, Wanchai, Hong Kong
Speakers:
Dr C.M. Cheng is the Acting Director of the Hong Kong Observatory. He is in charge of the weather forecasting and warning services branch. He oversees the public weather services, forecasting technique research, high-impact weather service development as well as delivery of on-line weather services. Dr Cheng had been involved in weather forecasting, hydrological observation, radar and satellite meteorology, automatic weather observing system on aerodrome and TV weather presentation, etc.
Mike is the President for Crawford Asia. Mike has over 18 years adjusting experience within Hong Kong and throughout Asia. Throughout his career, Mike has been responsible for handling complex construction, engineering, property and related business interruption losses, product liability, product recall and financial lines claims involving the Power, Petrochemical, Construction, Heavy Engineering, Transportation.
Mr. Scott Reichelt is a Managing Director of Crawford & Company’s Forensic Accounting Services team. Scott has 10 years experience in the insurance forensic accounting industry He has worked extensively on multimillion dollar business interruption, machinery breakdown, product contamination, and malicious product tamper claims across the Asia Pacific region.
Ms. Carmen Foo is a Forensic Accountant in Crawford & Company’s Forensic Accounting Services team. Carmen has 6 years of experience in the insurance forensic accounting industry She has worked extensively on multimillion dollar business interruption and stock claims across the Asia Pacific region. Carmen was also involved in Business Interruption claims from the Japan Tsunami, Thailand Floods, Philippines Typhoons and Hong Kong Protests.
Mr. Paolo Ogno, Regional Head of P&C Claims at Generali. Experienced Head of Property and Casualty Claims with a demonstrated history of working in the insurance industry. Skilled in Claims Handling, Property and Casualty Insurance, Management and Business Strategy.