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The Year 2005 - Overcoming Obstacles
9th All-Russia Conference on Reinsurance: The Year 2005 - Overcoming Obstacles
March 2005, Moscow, Metropol Hotel
Conference Organizer: Reinsurance Committee of the All-Russian Insurance Association
Conference Coordinator: Educational and Methodological Center for Personnel Training (recently reorganized into Business Character Group).
In 2005, the conference gathered more than 350 participants representing government authorities, insurance, reinsurance, broker and auditing firms from 17 countries - Austria, Azerbaijan, Byelorussia, Czech Republic, France, Germany, Indonesia, Kazakhstan, Latvia, Malaysia, Poland, Russia, Singapore, Turkey, Ukraine, the United Kingdom, and Uzbekistan.
The most urgent problems of the reinsurance market in Russia and worldwide were reviewed by Head of the Federal Service for Insurance Supervision Ilya V. Lomakin-Rumyantsev, President of the All-Russia Union of Insurers Alexander P. Koval, Vice President of the All-Russia Union of Insurers and Chairman of the VSS Reinsurance Committee Gregory N. Fidelman, Rector of the Finance Academy under the Government of the Russian Federation Alla G. Gryaznova, executives and leading specialists of major Russian and foreign insurance, reinsurance, broker and auditing companies.
The participants were provided with a Report of All-Russian Insurance Association Reinsurance Committee.
According to Chairwoman of the Conference Organizing Committee and member of All-Russian Insurance Association Reinsurance Committee Ella L. Platonova, "[this is] the only event on the reinsurance market that gathers so many people with a single objective. It is our mission to formulate a solution to the problems, which all of us have faced throughout the year, and, eventually, prepare a document for submission to government authorities".
All-Russia Conference on Reinsurance
The objectives of the conference in 2005 were stated as follows:
* Search for an appropriate, consolidated response of the reinsurance community of Russia and other ex-USSR countries to new global political and economic challenges stemming from:
- extensive reform, currently under way in Russia and other ex-USSR nations, of legislation in the field of insurance, reinsurance, taxation, accounting, banking, and anti-monopoly regulation;
- bottlenecks and controversies inevitably identified in the course of the legislation reform;
- intensified competition in several insurance and reinsurance segments;
- instability of tariff and investment policy which gives rise to repartition of spheres of influence on the reinsurance market;
- need for active development of new insurance markets and market segments within the ex-USSR countries.
* Discussion of new business development strategies commensurate with the international economic environment, which comes to be prevailing, and political reforms in Russia and beyond; opportunities for the establishment of appropriate business institutions, such as insurance brokers; and problems relevant to giving ratings to reinsurance companies and to their evaluation approach.
* Summarization of proposals relevant to the adoption of new business methods and procedures (including the experience gained in allied market segments), which would enhance the investment appeal of particular market entities and market as a whole: introduction of information technologies and methods of correct building of relationships among various market entities and allied markets.
The participants also discussed the basic principles of a draft Charter of Business Ethics in Reinsurance.
In order to handle this three-level problem, the current conference procedure was modified: in addition to plenary meetings, dedicated to the global challenges faced by the market, a workshop format was introduced providing for in-depth discussion of vital issues, strategies and methods of doing business during round tables and master classes.
Besides, the conference participants were offered a most extensive cultural program: on 24 March, a visit to the K.S. Stanislavsky Drama Theater showing The Italian Bequeathal, with a chamber music trio performing in the theater lobby prior to the play performance; on 25 March, a party in the entertainment center Diamond Hall, with the well-known satirists Arkady Arkanov and Levon Oganezov as showmen, and a Journey to the World of Taste - the degustation of whisky, including the rare, single-malt types of Scotch and Johnnie Walker Black Label.