Spring 2018 The Informant

3iG Chair’s Letter

Hello, friends. I am very excited for this year and I
hope you are, too! We have lots of plans and big
goals, but one thing I’ve learned from 3iG is that
we accomplish amazing things together. I recent-
ly shared our 2018 COE plan with you and we’ve
posted it on our (really beautiful, newly rede-
signed) 3iG website. If you haven’t seen the plan
(or the site) I encourage you to take a look.

The plan is only a guideline for how we can help

Baltimore Hilton which hosts the 3iG meeting on
Saturday Morning, April 21
the Society meet our shared goals of building a
knowledge network, increasing member value,
and engaging the next generation of insurance
professionals. The best part is we are already do-
ing these things, both individually in our respec-
tive regions of the world, and together as a pow-
erful, dynamic 3iG force working together to drive
change.

I was reflecting on our group recently when I had

the honor of spending time with the Europe chap-
ter (and many US-based CPCUs) at the London
meeting in February. I can’t help but leave those
meetings feeling renewed and re-energized! The
passion and excitement are truly contagious. But
while in London, I had a conversation which
caused me to reflect on our values as CPCUs. I
truly believe part of what makes our group so
special and cohesive is this strong shared core
value system that we all embrace.

Of course, as CPCUs, we are obliged to ethical

behavior, but I think our group goes beyond that
oath. We embody ethics, decency, and good
works in everything we do, and welcome every
new member as a friend. I am immensely proud
of that being a defining feature of 3iG and I thank
you all for your open, welcoming, and curious na-
tures.

I look forward to seeing you all in person in Balti-

Abi Clough, CPCU, MBA more or perhaps Zurich this summer or San Die-
International Insurance Interest Group Chair
go in the autumn. Thank you for being engaged
and dedicated CPCUs!

Join us on-line at: https://international.ig.cpcusociety.org/

What’s in this issue:

Article: Page:

3iG Chair’s Letter 1

3iG Shout outs! 3

Sustainability Through A Global Lens 5

CPCU Global Glimpse 8

The Basics of International Insurance – Part 1 11

Hey 3iG, WhatsApp? 15

Green Card System, A “Passport” for Motor Third Party Liability 16

Who Tells Your Story? 17

Profiles In 3iG—3iG Member: Joshua Pestano 18

The Informant Production Volunteer Staff 22

Save the date! 23

3iG Shout outs!

Be sure to send your shout out to Bruce at:
hixfam@hotmail.com

 Vincent Bonny and the Europe chapter for hosting the recent
London meeting and organizing a great event
 Annette Mokry and Joshua Pestano for their awesome work in
updating and re-energizing the 3iG website
The Informant Page 5

Sustainability Through A Global Lens

Tony Cabot, CPCU

Sustainability is not just about recycling, reducing carbon emis-

sions or being nice to the environment. Sustainability is about un-
derstanding the world around us, the interconnections and impacts
between natural and man-made events, the actions we take to
manage or mitigate associated risks and ultimately how we can
work together to create a livable world for future generations.

In this third instalment on sustainability appearing in Informant, we

will share highlights and comments on the World Economic Forum
2018 (WEF 2018.) We’ll start with a look at the Risk Interconnec-
tions Map 2018 presented at the WEF in January of this year.

What this map shows us is that a risk-related event will have con-
nected impacts on our communities and wider regions. We need
to have a global view of the risks facing our communities in order
to prepare our responses. It’s important that we be aware, for in-
stance, that mismanaging our water resources can trigger environ-
mental damage that, in turn, can impact our food supply that may
further impact our ability to support bio-diversity and harms our
ability to reduce the impact of climate change. A classic case of
one thing truly leading to another. This map also displays the inter-
sections and overlaps of economic, environmental, geopolitical,
societal and technological issues. It should be obvious that these
issues must be understood before we can take action.

The WEF 2018 report goes on to address why we have to work

together—that is the key to preventing crises and making the
world more resilient for current and future generations.

Humanity cannot successfully deal with the multiplicity of challeng-

es we face either sequentially or in isolation. Just as global risks
are increasingly complex, systemic and cascading, so our re-
Tony Cabot, CPCU sponses must be increasingly interconnected across the numer-
ous global systems that make up our world. Multi-stakeholder dia-
logue remains the keystone of the strategies that will enable us to
build a better world.
So, as we look at this interconnectedness of risk, what are the are-
as where we should focus our sustainability efforts to make our
world more resilient? The WEF report focuses on three major are-
as of resilience:

Structural resilience
This category encompasses redundancy, modularity and req-
uisite diversity. The focus of structural resilience is on bounc-
ing back faster from a disturbance.

Integrative resilience
This second category also consists of three lenses: multi-scale
interactions, thresholds and social cohesion. These elements
mainly focus on the context of the organization and its inter-
connections.
 The Informant Page 6

Transformative resilience
This category emphasizes that resilience is not simply about being able to return to the starting point after a shock.
In some cases, the organization needs to proactively change, or it will end up being changed by external circum-
stances.

The new resilience tools are intended to be used in addition to traditional risk management tools, not instead of them.
Organizations will continue to face normal risks, requiring traditional tools.

You can download the full WEF 2018 report and all related materials here: https://www.weforum.org/reports/the-global-
risks-report-2018

To conclude this installment on sustainability and resilience I would offer an important analysis from the Center for Re-
silience at Ohio State University:

“Sustainability is often misinterpreted as a goal to which we should collectively aspire. In fact, sustainability is
not a reachable end state; rather, it is a fundamental characteristic of a dynamic, evolving system.

Long-term sustainability will result not from movement along a smooth trajectory, but rather from continuous
adaptation to changing conditions. We cannot assume that nature will be infinitely resilient, nor can we pre-
sume to foretell what cycles of change will occur in the future. A sustainable society must be based on a dy-
namic world-view in which growth and transformation are inevitable.

In such a world, innovation and adaptation will enable human societies – and enterprises – to flourish in har-
mony with the environment.”

Editor’s Note: Excerpted from OSU’s Center for Resilience’s statement on Resilience and Sustainability - http://
www.resilience.osu.edu/CFR-site/resilienceandsustainability.htm

I think these last paragraphs from the sage people at Ohio State help us redefine sustainability as inclusive of resili-
ence and that this definition will necessarily continue to evolve as we and our world continue to evolve.

We need to be constantly aware of how we must adapt to the changes and challenges in order to shape the future we
want for our children and future generations.

What this map

shows us is that a
risk-related event will
have connected im-
pacts on our commu-
nities and wider re-
gions. We need to
have a global view of
the risks facing our
communities in order
to prepare our re-
sponses
The Informant Page 7
 The Informant Page 8

Just sharing tidbits taking place

around the, ever-expanding, CPCU
World.

Bermuda Update Shannon Totten, CPCU;

From
CPCU Champion Shannon Totten, Excess Casualty Prac-
tice Leader and Chairperson of the Bermuda Insurance
Bermuda
Institute, was a panelist on Tuesday, February 27th at the
2018 AIR Casualty Conference in New York. She partici-
pated in their Casualty Cyber Seminar, “Overcoming the
Challenges of Managing Interconnected Risks.”

China Update
Former CPCU Society International Ambassador Frank
Wang is always busy on behalf of the Society. In early Jan-
uary of 2018, he created an online training platform named
"Ambassador Wang Talks Insurance." Through the plat-
form, he invites his friends from the insurance industry and
related professionals, such as insurance lawyers, to share
their views on insurance-related topics with local insurance
professionals including CPCUs and CPCU candidates in
China. He reports that, so far, the platform has attracted
more than 1,600 members from around the country and
received good feedback on the online courses including the
CPCU training courses.

Europe Update
The European Chapter recently held a chapter meeting in
London, England which was well-attended by CPCUs from
many parts of Europe and the USA, including current Soci-
ety Leadership Council President, Troy Baldwin.
Several members made it even more of an event by arriv-
ing early to socialize and see various sights.

The meeting and agenda were arranged by European

Chapter President, Vincent Bonny, CPCU. Besides oppor-
tunities to network during breaks and meals, the event in-
cluded cocktail receptions, the chapter’s business meeting
and full slate of educational segments by various present-
ers.
Frank Wang, CPCU;
 “Insurance Technology (InsurTech) – Blockchain
and Beyond’ - Presenter, Vincent Bonny, CPCU
From
China
 The Informant Page 9

From: Europe—From left to right,

CPCU friends Randi Kaplan, Cheryl
Constantine, Abi Clough (3iG Chair)
and Ramya Sunad (ABIG Chair) so-
cialize in London prior to the Europe
Chapter meeting.

From Europe Chapter Tours

Lloyd’s of London—in front of
the Lutine Bell
 The Informant Page 10

Global Glimpse
 “Where do you want to go tomorrow?” - Presenter, Katherine Bryant, Executive Coach & Trainer, The Progress
Partnership Limited
 “Cat Management/Business Continuity Planning” - Presenter, Ramya Sunad, CPCU
 “Brexit Me Baby, One More Time” - Presenter, Clive O'Connell

The presentations were well-received. 3iG Chair, Abi Clough, CPCU, shared the following:

“I'd like to shout out to all of the speakers, particularly Katherine Bryant. She was the keynote speaker and I found her
engaging, personable, and very interesting. She provided me a new perspective.”

Further, Troy Baldwin, CPCU, Society and Leadership Council President gave an update on the Society and made a Call
to Action.

From: Europe Chapter enjoying L ondon

 The Informant Page 11

The Basics of International Insurance – Part 1

What Every Agent and Broker Needs to Know About International Insurance

Elaine George, CPCU and Mickey Brown, CPCU

Background
This article covers the basic technical aspects of writing international insurance cover- ...almost every
age. Depending on your location in the world, the meaning of international insurance
will differ. The perspective of this article is to look at U.S. firms conducting business country has laws
overseas. Fundamentally, international insurance is about risk and the treatment of
some aspects of those risks that transcend or cross international boundaries. governing insurance
Although the U.S. is the most developed (not to mention litigious) and largest insur-
transactions, most
ance market in the world*, almost every country has laws governing insurance trans- notably motor insur-
actions, most notably motor insurance. As a result, U.S. companies conducting busi-
ness overseas pay attention to and abide by the laws of the countries in which they ance. As a result,
are conducting business. In some countries, the private sector might not be involved
in the insurance industry. Instead, international insurance may be government con- U.S. companies con-
trolled, which can sometimes add to the bureaucracy of providing an insurance solu-
tion. Unlike the USA, most countries do not use courts or litigation to solve disputes!
ducting business
Each country has unique legal considerations impacting how business is transacted overseas pay atten-
along with different priorities in enforcing laws, especially with respects to liability and
privacy. tion to and abide by
From an underwriting and brokering perspective, international insurance can be com- the laws of the coun-
plex and heavily administration driven because of the compliance and regulatory is-
sues in dealing with 190+ countries. As a result, competent global brokers and inter-
tries in which they
national underwriters and claim adjusters have a basic understanding of the unique are conducting busi-
characteristics and regulatory restrictions of most countries. To help with this func-
tion, global insurers have developed their own international market intelligence in ad- ness.
dition to obtaining information from third party sources such as AXCO.

The insurance industry is famous for a variety of abbreviations – CAT, COPE, ALAE,
IBNR, PFL, etc. To add to the mix, international insurance has its own set of acro-
nyms. We have listed several common terms at the end of part two of this article to
help insurance professionals who are new to international insurance.

International business is thriving as companies look for ways to increase market

share, develop new products, and spread to new markets. According to a Forbes
2017 report, the top 10 countries traveled to in the world are Sweden, New Zealand,
Hong Kong, Ireland, United Kingdom, Denmark, Netherlands, Finland, Norway, and
Canada. The U.S. is listed as # 23, between Iceland and Austria. Annually, Forbes
has gauged the world’s economies to measure which are the most inviting for capital
investment. They graded 139 countries on 11 factors: property rights, innovation, tax-
es, technology, corruption, freedom (personal, trade and monetary), “red tape”, inves-
tor protection and stock market performance, to prepare their report. Since capitalist
companies tend to follow capital investment, it is expected that U.S. companies will
continue to seek ways to invest overseas.

Questions for Identifying and Rating International Exposure

Some of the same principles for placing insurance in the U.S. exist for placing insur-
ance overseas. Brokers and Underwriters must understand the exposures they are
covering overseas - by line of business. The most common lines of business offered
on an international program are general liability (called public liability in some coun-
tries), automobile (also known as motor overseas), workers compensation, employers’
liability, property, accidental death and dismemberment, trade credit, and kidnap and
 The Informant Page 12

The Basics of International Insurance – Part 1

Continued from previous page

extortion. This article focuses on casualty risks, questions to ask by line of business
and on the typical rating basis for each line. As always, an insured’s loss experience
plays a role in the evaluation process.
General Liability questions to ask to identify international exposures
1. Sales: are there any sales (or contracts) outside the U.S.?
2. Products: are products manufactured and sold outside the U.S.?
3. Named Insured: does the insured have a subsidiary, joint venture, or part-
nership overseas, etc., in which there is an ownership or management interest?
Contractual Obligations: does the insured have a contractual obligation to
provide insurance? Does the contract state that the insurance most be on an
Elaine George, CPCU admitted paper?

General Liability Standard Rating bases

Revenue
Number of premises - typically if products are excluded
Number of foreign trips/travel

Auto Liability Questions to ask to identify international exposures

Does the Insured own, lease or rent vehicles in a foreign country?

Auto Liability Standard rating bases

The number of owned, leased and rentals of foreign vehicles

Foreign Voluntary Workers Compensation (WC) and Employers Liability Ques-

tions to Ask to identify international exposures
Are U.S. employees travelling abroad for business purposes?
Are employees residing overseas (U.S. expatriates)?
Is the Insured employing local nationals or third-country nationals?

Foreign Voluntary Workers Compensation (WC) and Employers Liability Rating

Basis

Number of foreign trips, country destination and security measures in place to

protect employees
Payroll for U.S. expats, local nationals, and third country nationals
Duties (job classifications) of the employees
Is there a limitation of how many employees can be on one flight?

Property Questions to ask to identify international exposures

Does the Insured own or lease property in a foreign country?
In which countries are the facilities located?
What is the type and value of foreign-owned assets?

Typical Property Rating basis

Property values broken out by location
Construction type of building and year of construction
Occupancy of building – examples are, is it an office or manufacturing facility and
is the insured the sole occupant?
Mickey Brown, CPCU Protection of the building – What is the location of fire department and sprinklers
(if any)?
External exposures such as the occupancy of the adjacent buildings
 The Informant
Unique country hazards, such as Earthquake or Flood
Accidental death and dismemberment (AD & D) Kidnap
and Extortion (K & E) questions to ask to identify inter-
national exposures
What is the number of foreign trips made by employ-
ees?
What countries are visited?
What security measures are in place to protect employ-
ees?
Accidental Death and Dismemberment and Kidnap and
Extortion typical rating bases
Number of foreign trips
Program Structures
There are several ways to cover international expo-
sures - depending on the type of risk. Some of the
most common mechanisms are:
1. An Endorsement To The Domestic General Liability
Policy
. This is a viable option when general liability exposures
are relatively small, and losses are not expected to be
frequent or severe. This is an easier option as most
U.S. insurers have the capability to endorse a US do-
mestic GL policy to expand the coverage territory. This
option does not provide admitted coverage, local certifi-
cates are not available, and claims cannot be investi-
gated or paid locally. The insured may also have to
pay the claim and seek reimbursement from the insur-
er.
2. A Standalone Package Policy aka “Trip/Travel”
4. Controlled Master Program (CMP) – Master
This is a non-admitted package policy typically provid-
ing General Liability, Contingent Automobile, Foreign
Voluntary Workers Compensation with Employers Lia-
bility, Accidental Death and Dismemberment and Kid-
nap and Extortion. Sometimes Property can be added
as an option. This policy provides a comprehensive
solution to an insured who has business trips overseas,
has not established an overseas subsidiary, has assets
or employees overseas and does not have contracts
requiring local admitted coverage. There is sometimes
an endorsement on the policy limiting coverage to
“business trip travel.” This option does not provide ad-
mitted coverage, local certificates are not available, and
claims cannot be investigated or paid locally. For Con-
tingent Automobile Liability, it is critical to always pur-
chase the applicable country’s statutory coverage
(which effectively becomes a deductible).
3. Stand-Alone Package Policy (Master DIC/DIL Policy
Only) –Decentralized Program
This is like the standalone package policy described
above; however, this policy is underwritten for insureds
that have established a subsidiary overseas, have as-
sets or employees overseas and contractual obligations
Page 13
overseas which require local insurance. The in-
sured has the option of buying the local admitted
coverage with or without the help of the global
U.S. insurer. When coverage is purchased with-
out the global U.S. insurer’s assistance, it is
called a Decentralized Program.
The advantages of a Decentralized Program in
the U.S. are the control in the U.S. over the mas-
ter DIC/DIL policy, the solvency of the DIC/DIL
global insurer meets familiar standards, and the
overall program may be less expensive.
The disadvantages include: being out of compli-
ance with local regulations, there could be poten-
tial tax implications of premiums and claim pay-
ments, local certificates are not available, claims
cannot be investigated or paid locally, and it can
be very difficult for the U.S. insured to administer
the local policies written outside the U.S. pro-
gram. For example, imagine a U.S. company
with 20 subsidiaries abroad and all 20 subsidiar-
ies purchase local insurance. The U.S. insured is
then tasked with tracking each of the local poli-
cies to ensure that they meet local standards and
will provide all the necessary insurance protec-
tion. Loss information is difficult to aggregate and
is fragmented under a decentralized program.
A Master DIC/DIL policy can include both liability
and property to provide a package policy, de-
pending on the capabilities of the global carrier
and the Insured’s needs. It can also be sched-
uled on a U.S. excess/umbrella policy.
DIC/DIL Policy With Local Admitted Policies
This structure includes the master DIC/DIL policy
described above with at least one local admitted
policy written in the program. This option can
provide a U.S. multinational company a central-
ized uniform insurance program negotiated with
one underwriter and reproduced in each country
to the extent possible. The uniform program ap-
proach can prevent coverage gaps, can be tai-
lored to meet a corporate parent’s risk manage-
ment philosophy and may provide substantial
savings compared to the cost of a decentralized
program.
The local policies, also called “underlyers”, are
typically issued to meet local standards and can
be paid in U.S., unless local payments are re-
quired. The ability to pay in the U.S., also called
Central collection or stateside collection, is a big
incentive for some Insureds. Some countries
such as Morocco or Canada require that the pre-
miums be paid locally. Other countries such as
India, Japan, and South Korea take it a step fur-
ther and require that the premium be paid before
coverage is placed-- this practice is called “Cash
 The Informant Page 14

The Basics of International Insurance – Part 1

Continued from previous page

before Cover.” In yet, other countries, such as Mexico and Canada, the involvement of a local broker is required.

One of the biggest advantages to a CMP is that, although claims on the local policies are handled locally, they
are part of the U.S. Controlled Master Program. The result is that they are overseen by the U.S. insurer and
the U.S. client can obtain loss information in the U.S.

Considering the various moving parts of a CMP, constant communication is required to properly administer the
program. Only a few U.S. carriers have the global network of local insurers to issue local admitted policies in
most countries. Handling international exposures is very difficult for brokers who do not have preferred com-
pany appointments.

Please look forward to part 2 of this discussion which will touch upon other aspects of international insur-
ance including communication issues, commissions and educational opportunities.

*According to the Insurance Information Institute, the U.S. insurance market is $1,352,385,000 in total premium, with
Japan and China following behind respectively at $471,295,000 and $466,131,000. http://www.iii.org/publications/
insurance-handbook/economic-and-financial-data/world-insurance-marketplace
 The Informant Page 15

Hey 3iG, WhatsApp?

Bruce Hicks, CPCU

WhatsApp Messenger is a freeware communications application. It was developed and Orelene Arriola, CPCU
released by Facebook in 2009. The application is a form of instant messaging that per-
mits users to send texts, documents, voice and video calls. The use may be one-on- What’s App Guru
one or among groups established by users.

3iG members are big on communication. WhatsApp is a tremendous fit for our group as
it facilitates fast, efficient messaging. It is being used by members to build a stronger
international insurance community.

An early use of WhatsApp occurred for purely practical reasons. Former CPCU Society
International Ambassador, Orlene Arriola, pegged the application as an idea way to
communicate with others while attending a CPCU Annual Meeting. It was particularly
handy in coordinating with members of 3iG. She created a 3iG WhatsApp group that
permitted attendees from different points of the globe to bypass their regular phone
service providers in lieu of a source of free, flexible, convenient communications.

The WhatsApp members were now equipped to coordinate plans for attending educa-
tional sessions, general meeting sessions, meal plans, and deal with special events
such as the meeting’s various social networking events such as our 3iG Cocktail Party,
including pre- and post-events.

Use has expanded where, since that time, CPCUs routinely use it to announce arrivals
at leadership summits as well as annual meetings. We use WhatsApp to share event
highlights with each other, confirm meet-ups and even say our farewells as we depart
to our various homes. WhatsApp has enhanced our meeting experiences as it is a very
effective communications hub that handles documents, pictures, videos and voice mes-
saging in either a group or a one-on-one setting.
 The Informant Page 16

Green Card System, A “Passport” for Motor Third Party Liability

Paul Dumitru, CPCU

The Green Card is an insurance Motor Third Party Liability (MTPL) certificate that a
visiting motorist may present to the authorities of the countries he or she visits. The
Green Card certifies that the motor third party liability bought in the visitor’s country
meets the minimum liability limits of the visited country.

In 1947, the Economic Commission for Europe within the United Nations issued
”Recommendation 5” through which encouraged nations in Europe to set up a sys-
tem so that insurers or insurer organizations (bureaus) would reimburse each other
for losses due to motor accidents. Reimbursement would occur regardless of where
the accident took place or which insurer issued the motor third party liability policy. In
1949 the Council of Bureaus was set up in London. It was established due to a Euro-
pean motor insurers convention’s recommendation. The founding countries were
Belgium, Czechoslovakia, Denmark, Finland, France, Greece, Ireland, Luxembourg,
Norway, The Netherlands, Slovak Republic, Sweden, Switzerland/Liechtenstein, and
the United Kingdom.

Forty-nine additional countries (1) joined the Green Card system since it was estab-
lished in 1949 comprising more than 1500 motor insurers. There are also another
eight countries (Algeria, Armenia, Egypt, Georgia, Kazakhstan, Lebanon, Libya and
Syria) that are eligible and will probably join the Green Card system in the future.
The motor liability insurance limits differ among the member countries. In the Euro-
pean Union, following the Directive 2009/103/EC of the European Parliament and of
the European Council, the minimum Paul Dumitru, CPCU
limits of liability were initially set at:

(a) in the case of personal injury, a minimum amount of cover of EUR 1,000,000 per victim or EUR 5,000,000 per
claim, regardless the number of victims;

(b) in the case of damage to property, EUR 1,000,000 per claim, regardless the number of victims.

The above limits are adjusted with the European Consumer Price Index every five years (as required by the directive).

In the EU the Green Card certificate is issued automatically alongside with the MTPL. The policy mentions the countries
where it is valid. The premium paid is for both the MTPL and the green card. If a motorist travels to a country within the
Green Card system that is not mentioned on the certificate, a different procedure must be followed. In such instances,
the motorist must notify his/her insurer who will provide a quote separately for the Green Card certificate. The motorist
must pay an additional premium.

(Austria, Albania, Andorra, Azerbaijan, Belgium, Bulgaria, Bosnia and Herzegovina, Belarus, Switzerland, Cyprus, Czech Republic, Germany, Den-
mark, Spain, Estonia, France, Finland, Liechtenstein, United Kingdom, Greece, Hungary, Croatia, Italy, Israel, Iran, Ireland, Iceland, Luxembourg,
Lithuania, Latvia, Morocco, Moldova, Malta, Macedonia, Montenegro, Norway, Netherlands, Portugal, Poland, Romania, Russia, Sweden, Slovak,
Republic, Slovenia, Serbia, Tunisia, Turkey and Ukraine)
 The Informant Page 17

Who Tells Your Story?

Bruce Hicks, CLU, CPCU

In the past couple of years, I have come to revere a very popular musical show that is based on an American Found-
ing Father. It is called “Hamilton,” written by Lin-Manuel Miranda and based on the book “Alexander Hamilton” by Ron
Chernow.

It is an interesting view of America’s birth and the role played by Alexander Hamilton, an immigrant from Nevis Island
in the Caribbean. Hamilton was a person of remarkable intelligence and drive who was instrumental in establishing
the framework of the United States of America’s political and financial structures.

As important as Hamilton was to the USA, it took Mr. Chernow’s book and Mr. Miranda’s musical to shine a much-
needed spotlight on this historical colossus. Citizens of the USA are notorious for having a limited appreciation of his-
tory and culture. Few things demonstrate that more than the relative obscurity into which Alexander Hamilton fell. Up
until a few years ago, if you asked someone a question about Hamilton, younger citizens might mention his appear-
ance on the ten-dollar bill. Older citizens would, unlikely, fare much better, mentioning the currency appearance along
with the infamous Burr-Hamilton duel that resulted in the latter’s death.

The core of the book and the musical, especially in the musical, was the importance of knowing a person’s relevance.
A theme that runs through the musical is the phrase, “Who lives, who dies, who tells your story.” It is important that
your story be told and shared with others. That is the primary method in which that we gain knowledge and perspec-
tive regarding what we do and who we are.

I use this bit about Alexander Hamilton in the hopes of encouraging more members of the CPCU Society International
Insurance Interest Group to reach out and share your story, in your unique voice.
I know I harp on this point but, after more than 30 years of being a CPCU, I’m still amazed at how poorly we demon-
strate and discuss our organization’s global identity. It is still commonplace for our members in the USA to refer to the
headquarters in Malvern as “National.” Many of us are still oblivious to the fact that we have many members whose
daily work and experience lies outside of the USA’s borders.

The Society recognizes the importance of the role played by our interest group, but it has difficulty with the basics,
such as creating and maintaining chapters, the basic building blocks that are quite effective in the USA, but which
haven’t been as viable in other countries for a variety of reasons, primarily geographic distance and laws that affect
chapter formation.
3iG is uniquely positioned to lead the charge in expanding
our international presence. We must recognize that much of
our effort to do so may have to use methods that fall outside
of the CPCU Society’s paradigm. For instance, Informant, our
newsletter has an impact on expressing our non-USA per-
spective, but it is not a formal Society publication. It exists
solely due to our group’s awareness of the need for a flagship
publication to publicize what we do, to unite us and to solidify
and expand our role.

It is important that more of our international members actively

participate and share their insurance lives with each other!
3iG has a unique, interesting and insightful voice that needs
your help to be louder and more frequent. Silence leads to
ignorance and obscurity. Add to our knowledge, add to our
perspective…. Tell Us Your Story!

Editor’s Note: At first, I was going to include some form of

Hamilton book or musical pic, but who needs the hassle of
possibly tripping over a copyright issue. Instead, here’s a cas-
ual pic of me from a band gig…I’ll have to write about that in
some other issue!
Bruce Hicks, CPCU
 The Informant Page 18

Profiles In 3iG—
3iG Member: Joshua Pestano
Editor's Note: We are a large, globally flung group and, while we
dedicate our work lives to insurance, we have vastly different back-
grounds to our careers. Profiles in 3iG is hoped to be a regular part
of Informant. We invite all members to consider submitting a profile
for consideration of publication! A set of questions can be requested
via email from Bruce Hicks at bruceh@roughnotes.com. We reserve
the right to edit any submitted profile for brevity and clarity.

3iG Member: Joshua S. Pestano, ACII, CPCU, ARe.

Title: President
Company: Risk Reinsurance Holdings, Inc.
Years in Insurance: Since 2008.
Previous Position: Reinsurance & Insurance Manager at Jardine
Re International, Inc.
Alma Mater: Florida International University
Degrees and Certifications:
University Degree(s)
Florida International University, B.A. in Economics Joshua Pestano, ACII,
Insurance Designation(s) CPCU, ARe
• Associate of the Chartered Insurance Institute (ACII).
• Chartered Property and Casualty Underwriter (CPCU). Informant: Can you share about an im-
• Associate in Reinsurance (ARe). portant relationship involving either a mentor
• Accredited Adviser in Insurance (AAI). or mentee?
• Associate in Commercial Underwriting (AU).
Informant: What was your first job? Pestano: I have been blessed to have
many different mentors all of whom have had
Pestano: My first job after graduating high school in 2005 was at great impacts in my development as an insur-
an electronics retailer called CompUSA. I had several more jobs in ance professional. I would have to give
the electronics retail industry (in sales and product demonstration) thanks to:
while I attended university. I acquired my insurance license in 2007
and started working at Jardine Re International, Inc. as an agent in Elaine George who called on me to become
2008. involved as a volunteer with the CPCU Socie-
ty and the International Insurance Interest
Informant: How did you come to work in insurance? Group (3IG),

Pestano: I was aware of insurance as a career choice growing
up because my father worked in the Venezuelan insurance industry. I
acquired the Florida General Lines Agent license in 2007 and started
working in the industry the following year.
Informant: What do Interest Groups do well for CPCU Society
members?
Pestano: Interest groups, each with its own area of expertise,
help insurance industry professionals learn about the industry they
work in, down to the technical aspects. Interest groups also provide a
network of professionals willing to assist members grow in their ca-
reers.
Informant: What was your favorite location for the CPCU Society
Annual Meeting and why?
Pestano: I have not been to many annual meetings. I will have to
say Anaheim 2014 was my favorite because it was the first one I at-
tended.
Steve McElhiney who has provided great ad-
vice on the industry and the way to move for-
ward as a professional,
Carla D’Andre who has also helped me grow
as an insurance professional and has gotten
me involved with other insurance industry
groups, and
Luis Diaz who has always been available to
assist in matters relating to the South Florida
CPCU Society Chapter and who has been a
great mentor in my efforts as a chapter lead-
er.
The guidance of the above persons has had a
great impact in my choices as a professional.
Additionally, my colleagues from the 3IG have
also been great mentors. Working with 3IG
...Continued on page 22
 The Informant Page 19

EWI Re knows no two clients are alike, just as no two brokerages are
alike. What sets EWI Re apart from other brokerages, is its dedication to
its clients and its uncompromising commitment to trust and transparen-
cy. Each client’s business is dynamic with exposures and operating envi-
ronments constantly changing.

Accordingly, at EWI Re, Strategic Discovery, Financial Analysis, and Market

Evaluation never end. We are committed to always seeing your business
through fresh lenses, and coupled with our deep experience, providing
the best advice and service to your ever-evolving business.

EWI Re recognizes the trust clients put into our capabilities, and we recip-
rocate by being your most trusted advisor. We hold in confidence the
confidential and propriety aspects of your business while providing you
with objective advice, free from conflicts of interest.

http://www.ewirisk.com/
TheA
Informant
ThousandMiles Be-
gins with a Single Step
My name is Tanya Luxi Wu. June
6th, 2016, the moment I saw the Pro-
metric test center’s computer screen
indicate I had passed CPCU 530, the
most challenging exam of the CPCU
for me, I was thrilled. I knew I had
officially become a CPCU. The
CPCU was my third credential after
having only worked in the insurance
industry for three years (I also hold
the ARe and AINS designations). My
path to becoming part of the prestig-
ious CPCU Society is probably unlike
many of my fellow CPCU contempo-
raries.
I was born and raised in China, near
Shanghai. I suppose most people
have never been to China, or to
Shanghai. It is an amazing country
(perhaps I am a little biased) with a
society that spans 5000 years. A land
of many contrasts and, yes, contra-
dictions.
Let me tell you a little about my gen-
eration of Chinese. I am a product of
the so called “one child policy” in Chi-
na. Thankfully, that has now ended. I
now realize that I was part of a rather
unique generation that will undoubt-
edly be highly studied for years to
come. My generation of Chinese of-
ten studied and lived away from
home starting at a young age. I, for
instance, went to a boarding school
200 miles away from my hometown
at the age of 9. Because it is com-
mon for us to live and study away
from home as children, we continue
to do so as young adults in pursuing
our educational goals as well as
adults in pursuing careers that will
often take us back and forth between
China, the United States, the EU,
and all other points in between.
For me, I obtained my undergraduate
degree in Accounting from Shanghai
University in 2011. Immediately upon
completing college in China, despite
having never visited the US, I came
to the US to pursue my master’s de-
gree in International Public Policy at
University of Southern California in
June 2011. I then moved to another Page 21
new city, Dallas, Texas, to work as a
financial analyst at EWI Re, Inc.; my
first job right after I finished my grad-
uate school studies in the US.
Lacking our own brothers and sisters,
our cousins and boarding school
room-mates became like siblings to
us. Just as with traditional siblings,
we stay very close throughout life.
While many of my cousins and
boarding school mates also came to
the US to study and work as I did, I
also have cousins and school mates
around the world working for such
organizations as McKinsey and Wells
Fargo. We all become very fond of
life in our new countries. My cousin,
who went to Johns Hopkins is quite
the fanatical Baltimore Ravens fan!
I think the upbringing of my genera-
tion has created a people who have
risk taking in their DNA, who are ad-
venturesome, who embrace capital-
ism and a people with global net-
works. With all this, not surprisingly,
the insurance industry in China is be-
coming highly global and is poised to
take off. I plan to be part of that jour-
ney.
I would have never imagined that my
background in accounting and inter-
national public policy would have led
me to a career in the reinsurance in-
dustry. This field was so unknown
and full of mystery to me as an inter-
national student back then, but in ret-
rospect, to embark my career in the
insurance industry is a decision I am
so proud of now and would definitely
encourage future college students to
choose a career in the insurance in-
dustry.
In some ways, I sort of fell into this
industry. I happened to meet a USC
alum (a rather fanatical USC fan at
that), Steve McElhiney, the President
of EWI. Steve McElhiney invited me
to intern at EWI in 2012 during my
summer break in the USC. At that
time, Steve was the President of the
National CPCU society. My impres-
sion of him as the CPCU President
was he traveled tremendously for the
society, which was very appealing to
me as the intern. Later I was encour-
 Profiles In 3iG—3iG Member: Joshua Pestano Page 22

...Continued from page 18

group members has given me the
opportunity to work on many career-
enhancing projects that I don’t think
would have been possible working
alone.
Informant: What have you accom-
plished that you are proudest of dur-
ing your tenure as a CPCU volun-
teer?
Pestano: I presented a webinar
for the CPCU Society, had an article
published on CPCU Insights and
had other works published on the
CPCU Society’s blog, news site and
elsewhere. Beyond that, I enjoy
helping new volunteers and other
CPCU society members learn more
about the resources that are availa-
ble to them though the Society.
A new designee will have to
choose an interest group
based on his/her present or
future career objectives. It
would be wise to consult with
interest group leaders and
members to see what each
group has to offer before
deciding to become involved
with one as a volunteer.
. signee may consider the work the
vast amounts of work that must be
done, especially in the early stag-
es. I try my best find the next task
that will have the greatest positive
impact in my endeavors and I
work through it step by step know-
ing that I am slowly making pro-
gress.
Informant: What should a new
designee consider when choosing
to become involved with an Inter-
est Group?
Pestano: The most important
thing for a new designee to con-
sider when choosing to become
involved with an interest group is if
the group is active. Then the de-
group does and its practice area.

Joshua’s favorites: A new designee will have to

Informant: What is the most chal-
choose an interest group based on
lenging aspect of your job?
Book – “The Count of Monte Cristo” by his/her present or future career
Alexandre Dumas. objectives. It would be wise to
Pestano: I am currently embark- consult with interest group leaders
Movie – “The Departed” by Martin
ing on an entrepreneurial project. and members to see what each
Scorsese.
The hardest part is deciding what group has to offer before deciding
TV Show – “Doctor Who”.
task to work on next. Finding and to become involved with one as a
Sports Teams – The Miami Heat.
prioritizing the next, most important volunteer.
Food – Paella.
task can be challenging given the

The Informant Production Volunteer Staff

Bruce Hicks CPCU - Editor

bruceh@roughnotes.com Jamie Manson, CPCU
Distribution Don George, CPCU
Jamie.manson@nagico.com Producer
don.george@us.rsag
roup.com
 The Informant—Spring 2018
Save the Date
April 19-21, 2018
Baltimore, Maryland
Hilton Baltimore
Leadership Summit
June 29-30, 2018
Zurich, Switzerland
Europe Chapter CPCU Meeting
October 13-16, 2018
San Diego, California
Manchester Grand Hyatt San Diego
Annual CPCU Convention
September 21-24, 2019
New Orleans, Louisiana
Hilton New Orleans Riverside
Annual CPCU Convention
The International Insurance
Interest Group Informant is
published periodically by the
CPCU Society International
Insurance Interest Group
(3iG)
International Insurance
Interest Group
http://
international.cpcusociety.org
Chair
Abi Clough, MBA, CPCU
aclough@metlife.com
Editor
Bruce Hicks, CPCU
bruceh@roughnotes.com
Producer
Don George, CPCU, RPLU,
MBA
Don.george@us.rsagroup.co
m
Distribution
Jamie Manson, CPCU
Jamie.Mason@nagico.com
Statements of fact and opin-
ion are the responsibility of
the authors above and do
not imply an opinion of the
officers, individual members,
or staff of the CPCU Society
or the International Insur-
ance Interest Group.