1. Insurance without Borders: International Risks, International Rewards Washington, D.C. ~ November 7-9, 2007

2. Insurance Without BordersPanel Members • MODERATOR: Alejandro Guerrero, Managing Director, Regional Finpro Practice Leader Marsh Latin America & Caribbean • Perry Granof, Vice President & Claims Counsel Chubb & Son • Arturo Perez, Senior Associate Rubio Villegas • Marc Poliquin, Regional Vice President, Financial Lines ACE Latin America

3. Overview • Market Trends affecting Global Risk Landscape • Jurisdiction and Limits • International Exposures • Multinational Corporations

4. Market Trends affecting Global Risk Landscape • Global and regional trends • Government trends and regulatoryconsiderations • Forces driving insurance products

5. Market Trend:Brazil BOVESPA up 660%

6. Market Trend:Brazilian IPO Surge

7. Market Trend: International IPO Suits • Xinhua Finance Media – (XFML)

8. Market Trend: International IPO Suits • China Sunergy Company - (CSUN)

9. Market Trends Affecting Global Risk Landscape • Global and regional trends • Government trends and regulatoryconsiderations • Forces driving insurance products

10. Jurisdiction and Limits • Coverage • Limits • Reporting requirements • Amendatory endorsements

11. Jurisdiction and Limits • Admitted v. non-admitted • Ability to enforce policies • Pushing the limit of the law • Tax implications

12. Non-Admitted is Illegal in Latin America Countries Laws Penalties Source: AXCO

13. International Exposures • Professional liability risks outside the United States • Insurance products available • Public v. private • Criminal liability outside the United States (Civil Code Countries)

14. Multinational Corporations • Risks in various countries • Steps to setting up a Global Program • Foreign based subsidiaries • Dealing with needs and concerns of local management • Local regulations – Adequacy & Interpretations • Local Limits vs. Global Excess • Key considerations in evaluating and structuring multinational insurance

15. Multinational Corporations-Key Considerations • Place globally; adjust locally !! • Set down the rules and guidelines for local managements • Assure proper communication • Verify legality of program • Validate experience of advisers in local matters

16. Takeaways • Global trends show that foreign exposures are on the rise • Coverages and limits can be replicated but require local adjustments • Local legal requirements demand double-checking and local or regional expertise • Most programs are available in every foreign market or can be legally allowed

17. Takeaways • Because of the growing awareness and claims trends, it is recommended that global programs with proper guidelines and procedures be replicated whenever possible • More often than not, non-US stakeholders will attempt to file suit in the United States but good standing is somewhat difficult to obtain and judgments are not always enforceable

18. AudienceQ & A

19. Thank you to … • Perry Granof • Alex Guerrero • Arturo Perez • Marc Poliquin