A 360° Tour of the Market
9:00 – 9:30 AM
Our annual state of the Life Settlements market explores the current trends driving this booming industry, and provides a backdrop for the event with an up-to-date analysis of what’s happening in the business.
SPEAKER: JIM TERLIZZI, Peachtree Life Settlements

New Legislation: Where are we Now and Where are we Headed?
9:30 – 10:20 AM
State legislatures across the country are considering a pair of competing proposals on how to regulate the market, and a state by state legislative battle has ensued. This panel explores current legislation and how the NCOIL and NAIC model acts impact the market.
MODERATOR: MICHAEL FREEDMAN, Coventry
PANELISTS: JIM CAVOLI, Life Settlement Insights; REP. ROBERT R. DAMRON, State Representative, Kentucky; JACK KELLY, Institutional Life Markets Association; STEPHEN WASHINGTON, Life Equity

Small Face Policies: Informed Suggestion of What’s to Come
10:50 – 11:10 AM
The Life Settlement industry has its eye on America’s middle class and it’s bulging with small-face life insurance policies. Providers continue to incorporate small-face assessment programs into their business model, and institutional investors are eager to diversify their portfolios with an infusion of these smaller policies.
SPEAKER: SCOTT WILLKOMM, J.G. Wentworth

Is There a Renaissance for Securitization?
11:15 – 11:35 AM
For the securitization of Life Settlements, it has been a rocky road to acceptance by the capital markets. Legal and regulatory problems plus concerns about inaccurate life expectancy reports being major hurdles. Now, the credit crunch seems to have brought a breakthrough for securitization and lenders are beginning to expand warehouse facilities to companies that aggregate Life Settlements into pools large enough to securitize.
SPEAKER: HASHAM MALIK, Peachtree Life Settlements

How to Structure a Life Settlement Investment Vehicle
11:40 – 12:30 PM
This panel describes the alternatives for structuring a workable Life Settlements fund. Panelists discuss the marketing, legal, accounting and administrative issues related to the most well known structures used by the most successful investment managers in the space.
MODERATOR: STEVEN HUTTLER, Sadis & Goldberg
SPEAKER: JOE HOLMAN, Columbus Avenue Consultants; MARC WOLF, Rothstein Kass; Additional Panelists TBA

Contestable Policies: Are they Hurting the Market?
1:45 – 2:05 PM
Why buy contestable policies? Is the risk worth the expected return? Also known as “wet paper,” contestable policies can be rescinded by insurance companies within the first two years after being issued for fraud or misrepresentation on insurance applications. Some practitioners see nothing wrong with snapping up policies in the contestability period, while others say the purchase of such policies gives the industry a bad reputation.
SPEAKER: RUSS DORSETT, Select Life Settlements Corporation

The Changing Role of the Provider
2:10 – 3:00 PM
Will providers become obsolete or will they take on new responsibilities? Instead of merely acquiring policies for funding entities, providers are now building their own portfolios or starting to manage portfolios. This panel explores the new role of the provider in this evolving segment of the market.
MODERATOR: CRAIG SEITEL, Abacus Settlements
PANELISTS: ZOHAR ELHANANI, Legacy Benefits; BRYAN FREEMAN, Habersham Funding; ERIK FRIEDMAN, JP Morgan; STEVEN SHAPIRO, Q Capital Strategies

The Art of the Deal: New Transaction Structures
3:05 – 3:25 PM
This presentation addresses some of the recent changes in the Life Settlement industry and highlights new and innovative business models. Deal structures are constantly changing and this session explores topics such as direct purchases from consumers, advertising, bank-fronted premium finance, and mortality hedges.
SPEAKER: BRIAN CASEY, Locke Lord Bissell & Liddell

Premium Finance: Understanding the Market for Non-Recourse Loans
3:45 – 4:35 PM
Premium financing of life insurance policies, which has increased considerably over the last few years, is controversial in the secondary market. Opponents claim that premium finance is a disguise for stranger-originated life insurance, while advocates maintain that it provides a choice for consumers. This panel explores the pros and cons of this contentious area of finance.
MODERATOR: SCOTT PEDEN, Life Partners
PANELISTS: MIKE BROWN, Mutual Credit Corp.; KURT GEARHART, Credit Suisse; Additional Panelists TBA

Broker/Dealer Regulation: End the Confusion, Get on with Business!
4:40 – 5:00 PM
From licensing and marketing to processing and compensation, Life Settlements are subject to layers of FINRA rules and state regulations. Growing your business by conducting transactions in multiple states requires knowing and adhering to the rules. This presentation gives you the tools to alleviate your compliance concerns through a concise explanation of FINRA guidelines, how states regulate the business, and what it takes to stay on top of suitability, training, supervision, due diligence, and best execution.
SPEAKER: MIKE LEIBOWITZ, Invescor

The State of the European Market
8:45 – 9:05 AM
European interest in the secondary market is soaring with the benefit of avoiding many regulatory entanglements faced by companies domiciled in the United States. This presentation addresses the current state of the European market.
SPEAKER: FRANZ PHILIPPE PRZYBYL, Berlin Atlantic Capital

Overseas Capital: Foreign Investors Penetrate the U.S. Secondary Market
9:10 – 10:00 AM
Global investors are behind a steady flow of capital into the U.S. Life Settlements market. This panel explores broadening international interest from investors in Europe, Australia, and Asia, and examines where growth is expected to come from in the future.
MODERATOR: MICHAEL CRANE, Deutsche Bank
PANELISTS: CHRIS CONWAY, Berlin Atlantic Capital; THOMAS SCHMITT, Augur Capital; PETER HINDLE, Surrenda-link Investment Management; Additional Panelists TBA

California & New York: Will the Two Largest Markets Remain Unregulated?
10:05 – 10:55 AM
Bills addressing Life Settlements stalled in the California and New York legislatures, making it more likely that these two states will remain unregulated – at least into 2009. With hope that the proposals could still be revived and adopted this year, this panel explores how legislation would help the industry flourish.
MODERATOR: BORIS ZISER, Stroock & Stroock & Lavan
PANELISTS: KERMITT BROOKS, New York State Department of Insurance; SENATOR MICHAEL MACHADO, California State Senate; RAMIRO RENCURRELL, Magna Life Settlements; LARRY SIMON, Life Settlement Solutions; Additional Panelists TBA

The Evolving Approach to Developing Life Expectancy Reports
11:20 – 12:10 PM
Mortality assumptions are a significant factor in determining policy values, and it has been determined that Americans are living longer than the standard mortality tables suggested. The 2008 Valuation Basic Table has been updated and takes into account more recent underwriting practices and medical advances. This panel explores how this development will yield better results and more accurate pricing to the market.
MODERATOR: MIKE FASANO, Fasano Associates;
PANELISTS: MORRIS FISHMAN, ISC Services; DR. CHARLOTTE LEE, 21st Services; PHIL LOY, AVS Underwriting; KEVIN MALONE, Examination Management Services

The Politics of the Secondary Market
12:15 –12:55 PM
The playing field has changed as the number of stakeholders has increased. This presentation discusses who the stakeholders are and how the playing field has moved beyond the state legislatures and regulators.
SPEAKER: ALAN BUERGER, Coventry

An Investors View of Diversified Life Settlement Portfolios and the Emerging Synthetics Market
2:00 – 3:00 PM
This panel explores the aspects of building diversified portfolios suitable for institutional investors, how to manage administration once policies have been aggregated, and how to predict risk and return based on Life Settlements sub-strategy and policy selection. Panelists examine data management and servicing requirements, clean and compliant origination, optimizing value, and incorporating synthetic structures into your portfolio.
MODERATOR: MARKE GOODE, The Peninsula Group
PANELISTS: ANN GORMAN, Credit Suisse; DAVID RAWSON-MACKENZIE, Centurion; DAVID TEPPER, Neuma; HOWARD ZAIL, Proverian Capital

BOLI’s & COLI’s: Hypocrisy in the Life Insurance Industry?
3:05 –3:25 PM
(Please note the revised description)
In these changing regulatory times, banks and corporations need to be aware of the issues affecting life insurance owned by each of these entities. This session covers the design, implementation and ongoing administrative concerns as they pertain to the COLI best practices law and 409A deferred compensation plans that are usually associated with these sales.
SPEAKER: MATTHEW SCHIFF, Schiff Benefits Group

The Latest Developments in Litigation and its Impact on your Business
3:30 – 4:20 PM
Litigation relating to Life Settlements continues to proliferate. The outcome of these matters can substantially impact your business. This panel offers an overview of major litigation pending in the Life Settlements and premium finance markets.
MODERATOR: ELLIOTT KROLL, Herrick Feinstein
PANELISTS: PETER BICKS, Orrick Herrington & Sutcliffe; JIM MAXSON, Morris, Manning & Martin; WES STRICKLAND, Foley & Lardner