LISA COMPLIMENTARY WORKSHOP 

RSVP HERE

08:00 AM                    LISA Workshop & Conference Registration Desk Open
Prefunction Area

09:30 AM - 10:30 AM  LISA Workshop:  Assessing Rescission/Litigation Risks within Portfolios for Investors
Salon I

Determining the risk of a life settlement portfolio can be a daunting task.  Our panel of experts will talk about current concerns, analyze risk factors, discuss the factors that help to determine which state’s law applies and examine how to protect portfolios from risks.

Adam Balinsky, Managing Member -
Jabrem Consulting LLC
Jeff Hammer, Managing Director- Houlihan Lokey,
Jule Rousseau, Partner - Arent Fox

10:30 AM - 11:30 AM  LISA Workshop:  Employee Retirement Income Security Act
Salon I

Since the 2008 meltdown, many fund managers have experienced dramatic drawdowns in their assets under management.  Often, this is unrelated to the performance of the fund. In fact, successful managers frequently experience drawdowns as a result of their success - because they are the only source of capital for their distressed investors. As a result, these fund managers have frequently found themselves in the unintentional and unexpected position where a large percentage of their funds are qualified retirement assets, and so their funds become highly regulated qualified plan funds.

The compliance difficulties with a life settlements fund in this position are very dramatic with very difficult challenges in meeting the much higher standards for conflicts and other rules applicable to such regulated funds.  Our panel of experts will discuss some possible ways of ameliorating the full implications of these rules, and in the event that it is not feasible to do so, some of the most challenging legal ramifications and pitfalls of the relevant regulation.

Steven Huttler, Partner - Sadis & Goldberg

Ken Laverriere, Partner - Shearman & Sterling LLP

                           
11:30 AM - 12:30 PM     Lunch
                                   Prefunction Area & Salon I                                 

12:30 PM - 01:00 PM    Welcome and Opening Remarks
                            Salon II & Salon III
                                     Nate Evans, President & CEO - Maple Life Financial
                                     Darwin Bayston - Executive Director - LISA
                                                                                           

01:00 PM - 02:00 PM   Life Expectancies – The Environment Since 2008
Salon II & Salon III

This session presents an insight on the environment, developments and advancements in life expectancy estimates, and performance measurements over the past three years, including transparency and disclosure. It also focuses on additional changes that are expected to impact the future.

Michael Fasano, President - Fasano Associates
Phil Loy, Co-founder, AVS Underwriting, LLC

Traci Davis, VP of Underwriting Operations -
Examination Management Services, Inc.

Vince Granieri, Chief Actuary - 21st Services

02:00 PM - 03:00 PM   The Longevity Project – Are Psychosocial Factors Relevant?

Salon II & Salon III

The Longevity Project dates back to 1921, when the study was initiated to track the lives of 1,500 individuals from birth to death. The question was whether psychosocial factors would offer important information for the life settlement industry as predictors of life expectancy, and the findings are fascinating.

Howard Friedman, Ph.D., Scientific Consultant - Longevity Insight Services        

03:00 PM - 03:15 PM   Break

03:15 PM - 04:00 PM   Life Expectancy’s Actual to Expected Results of Purchased Policies

Salon II & Salon III

Life expectancy performance, as measured by A-to-E results to date, is based primarily on the results reported by life expectancy underwriters. An interesting question is whether differences exist between the results of policies submitted to life expectancy underwriters and the policies actually purchased in the marketplace. This session explores those differences.
Steve Boger, Managing Director - Maple Life Analytics

04:00 PM - 05:30 PM   LISA Members’ Meeting

Salon II & Salon III

05:30 PM - 7:00 PM     Welcome Cocktail Reception
(LISA Board Election Results)
Prefunction Area

Sponsored by Coventry

7:30 AM                      Registration Desk Opens

Prefunction Area

8:00 AM - 9:00 AM      Continental Breakfast
Salon I

 

9:00 AM - 9:30 AM      The Life Settlement Market Potential

Salon II & Salon III

What is the potential size of the life settlement market?  In 2004, a study by LIMRA suggested that 4.6 million U.S. households with a head of household age 65 or greater held a life insurance policy. The face value of those policies totaled $1.4 trillion. This presentation offers insights into the policies owned by seniors over age 70, presented in five-year age bands. Additionally, the session examines lapse rates for policies held by seniors in similar age bands.

Anna Hart, Principal - ARHart Consulting, LLC

Rick Bergstrom, Principal - Bergstrom Consulting, LLC

9:30 AM - 10:30 AM    Social Media Effect on Our Industry

Salon II & Salon III

How is social media impacting our industry? As Facebook’s user growth is now driven primarily by older “boomers” and seniors, this session addresses how the life settlement industry can potentially use this medium to effectively tell seniors about life settlements as a prominent part of retirement planning.

Stephen Terrell, Senior Vice President of Market
Development + Branding - The Lifeline Program

 

10:30 AM - 10:45 AM  Break

10:45 AM - 11:15 AM  Consumer Outreach

Salon II & Salon III

This session focuses on how the education of financial planners, CPAs, and attorneys is bridging the gap of knowledge for seniors on the subject of life settlements. It also addresses the types of educational content that the industry should focus on as it moves forward.

Ryan Wilson, Senior Strategic Policy Advisor - AARP

11:15 AM - 12:00 PM  LISA Online Education - Consumer Education, CE and CLE  Programs

Salon II & Salon III

This session explains how LISA is taking steps to educate consumers, financial planners, CPAs, and attorneys. Attendees also have an opportunity to review LISA’s online education platform and discover how LISA is developing content designed to meet the challenges of the market.

Darwin Bayston, Executive Director - LISA
Wesley Costa, Director of Education & Marketing - LISA

12:00 PM - 1:00 PM     Lunch

Salon I

 

1:00 PM -  2:00 PM      Political Landscape - 2012

Salon II & Salon III

Michael Barone, Senior Political Analyst - Washington Examiner

 

2:00 PM - 2:30 PM       A Dialogue with Representative Bob Damron (Kentucky)

Salon II & Salon III

Forty states currently regulate life settlements. Even so, the industry faces ongoing challenges from life carriers that impede the completion of life settlement transactions.
This session explores those issues and how they might be resolved through regulatory oversight.
Robert Damron, State House Representative - Kentucky

 

2:30 PM - 3:00 PM       Growing Pains - Becoming a Mature Industry in the Wake of the Financial Crisis

Salon II & Salon III

The life settlement industry has transitioned from its beginnings through the premium finance era and the financial collapse of 2008. Although statutes have been enacted in 40 states, self regulation and diligence will be needed as all financial related industries will come under greater federal scrutiny in the future.

                                   Gary Brown, Chief Executive Officer - CMG Life Services, Inc.


 

3:00 PM - 3:15 PM       Break

                                                     Prefunction Area

3:15 PM - 4:00 PM       Legislative/Regulatory Update

Salon II & Salon III

One of LISA’s major accomplishments on behalf of members is its ongoing efforts to influence legislation and regulations in order to provide a vibrant secondary market for life insurance. This session provides an update about those efforts.

Bryan Freeman, President & Managing Member - Habersham Funding LLC

Michael Freedman,
Senior Vice President, Government Affairs - Coventry

Michael Kreiter,
Director of Legislative and Regulatory Affairs - LISA

 

4:00 PM - 4:30 PM       Tax Update

Salon II & Salon III

Taxation of life settlement transactions continues to impact the availability of capital to the life settlement market. This session updates attendees on the latest developments regarding the taxation of life settlements.

Kirk Van Brunt, Partner - Locke Lord, LLP

4:30 PM - 5:00 PM       Implications of Recent and Expected Court Decisions

Salon II & Salon III

Recent court decisions provide insights into the risks of litigation, how litigation affects the performance of life settlement portfolios, and just as importantly, how it impacts decisions about the availability of new investment capital to the life settlement market. This session updates attendees on the current litigation environment.

Jule Rousseau, Partner - Arent Fox, LLP

Nat Shapo, Partner - Katten Muchin Rosenman, LLP

5:00 PM - 6:30 PM    Cocktail Reception

Georgian Room
Sponsored by CMG

7:30 AM                      Registration Desk Opens
Prefunction Area

8:00 AM - 9:00 AM      Continental Breakfast
Salon I

9:00 AM - 9:30 AM      The UK FSA’s Effect on Future of Investor Capital

Salon II & Salon III

This session analyzes the consequences on investor capital resulting from the Financial Services Authority’s (FSA) restrictions on the marketing and sale of Traded Life Policy Investments (TLPI) to retail investors.

Simon Erritt, Managing Director, Capital Markets - Coventry Capital

9:30 AM - 10:15 AM    What Defines a Good Asset Manager?
Salon II & Salon III

A superior asset manager can add value to a life settlement portfolio.  Management techniques regarding life expectancies, mortality projections, valuation methods, performance measurement and management fees all have potential to increase portfolio returns.
Matthew Sheridan, Co-Founder - Circadian Capital

10:15 AM - 11:00 AM  Impact on Capital from Ratings of Service Providers

Salon II & Salon III
Rating life settlement service providers could provide confidence and stature to the credibility of managers’ life settlement portfolios. This session explores the requirements necessary to meet such ratings standards.                    
Emmanuel Modu, Managing Director - A.M. Best

11:00 AM - 11:45 AM  Where is the Investment Capital?

Salon II & Salon III
This session examines whether investment capital is becoming more available for life settlements and where the next wave of investment capital is likely to come from. It also covers domestic and foreign pension funds, endowments, and foundations
Scott Rose, Asset Manager - Barrett Advisors, LLC
Darryl Glatthorn, Director Capital Markets, Vida Capital

11:45 AM - 12:00 PM  Prize Drawing and Final Remarks
Salon II & Salon III