Insurance and Reinsurance

An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. Reinsurance includes insurance that an insurance company purchases from another insurance company …

Samantha Kappagoda and David K.A. Mordecai were Invited to Present at RAA Current Issues Forum

Samantha Kappagoda and David K.A. Mordecai were Invited to Present at RAA Current Issues Forum on Supply-Chain Risks and Contingent Business Interruption

Samantha Kappagoda and David K.A. Mordecai were invited to make a presentation entitled Supply-Chain Risks and Contingent Business Interruption (“CBI”): Forensic RiskTech for Reinsurers as the Strategic Response to Opportunities and Threats from Disruptive Technology, at the Reinsurance Association of America (RAA) Current Issues Forum on Supply-Chain Risk and Contingent Business Interruption.

Other speakers included:

Samantha Kappagoda and David K.A. Mordecai were Invited to Present at RAA Current Issues Forum

RAA, headquartered in Washington, D.C., is the leading trade association of property and casualty reinsurers doing business in the U.S. RAA is committed to promoting a regulatory environment that ensures the industry remains globally competitive and financially robust. RAA membership is diverse, including reinsurance underwriters and intermediaries licensed in the U.S. and those that conduct business on a cross border basis. RAA represents its members before state, federal and international bodies.

David K.A. Mordecai is President and Co-Founder of Risk Economics, a New York City based advisory firm. Risk Economics specializes in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management. As Lead for the RiskEcon® litigation and arbitration advisory practice, David K.A. Mordecai serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, David Mordecai has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions

Samantha Kappagoda is Chief Economist and Co-Founder of Risk Economics. Her areas of expertise include econometric time-series and longitudinal analyses of consumer behavior, labor supply, wealth and income distribution, housing, population and immigration, political risk and international trade, resource allocation, environment, health, aging and retirement, as well as currency, commodity and capital markets activity.

David K.A. Mordecai was Invited to Present at the SCOR Americas Regional Partners Meeting

David K.A. Mordecai Presented at the SCOR Americas Regional Partners Meeting

David K.A. Mordecai was invited to make a presentation entitled Navigating the Emergent Risk Landscape: Scalable Data Analytics: Forensic RiskTech as the Strategic Response to Opportunities and Threats from Disruptive Technology, at the SCOR Americas Regional Partners Meeting.

Other speakers at the event included:

David K.A. Mordecai was Invited to Present at the SCOR Americas Regional Partners Meeting

SCOR is a French-based group of financial services companies, primarily focused on reinsurance. The main companies of SCOR SE include SCOR Global P&C, which provides property and casualty reinsurance, SCOR Global Life, which provides life reinsurance, and SCOR Global Investments, an asset management company.

David K.A. Mordecai is President and Co-founder of Risk Economics, a New York City based advisory firm. Risk Economics specializes in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management.

As lead for the Risk Economics® litigation and arbitration advisory practice, David K.A. Mordecai serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, David Mordecai has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions.

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David K.A. Mordecai Filed Multiple Expert Reports in a Multi-Million Dollar Unjust Enrichment and Unfair Insurance Trade Practices Dispute

David K.A. Mordecai, President of Risk Economics and Compass Lexecon affiliated expert, filed multiple expert reports in a multimillion dollar unjust enrichment and unfair insurance trade practices dispute. This dispute centered on Plaintiff’s claim that Defendants charged “grossly excessive” insurance premiums on municipal bonds issued by the city of Phoenix, Arizona. Dr. Mordecai was retained by Patterson Belknap Webb & Tyler LLP and Proskauer Rose LLP and their clients, Ambac Assurance Corporation and MBIA Insurance Corporation, Inc. This matter was settled on favorable terms for the clients. Dr. Mordecai was assisted by David Gross, Peter Clayburgh, Laura Yergesheva, and Quinn Johnson in Compass Lexecon’s Chicago and Pasadena offices.

David K.A. Mordecai is President and co-founder of Risk Economics, a New York City based advisory firm, as well as Senior Advisor to and a Member of the Advisory Committee of Compass Lexecon. The Risk Economics® litigation advisory practice provides advisory services and testimonial expertise on complex issues related to financial instrument valuation models and frameworks, market and industry standards and practices for the financing, risk management, active trading, and hedging of OTC derivatives and structured products.

As lead for the Risk Economics® litigation and arbitration advisory practice, David serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes industrial and financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, he has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions.

See Compass Lexecon 2013 Newsletter.

David K.A. Mordecai Filed Multiple Expert Reports and Provided Deposition Testimony on Behalf of Ironshore Insurance

David K.A. Mordecai Filed Multiple Expert Reports and Provided Deposition Testimony on Behalf of Ironshore Insurance

David Mordecai, President of Risk Economics and Compass Lexecon affiliate, filed multiple expert reports and provided deposition testimony on behalf of Ironshore Insurance in litigation against the company’s former asset manager, Western Asset Management Company. The dispute involved breach of contract and breach of fiduciary duty claims against Western Asset Management Company stemming from losses incurred by Ironshore on a fixed-income portfolio containing a large concentration of mortgage-backed securities. Dr. Mordecai was retained to evaluate the 15 risks of the fixed-income portfolio and estimate damages.

Dr. Mordecai was assisted by Peter Clayburgh, Michael Kwak, Tristram Worth, and Ara Demirjian from the Compass Lexecon Pasadena and New York offices. The team worked closely with Cahill Gordon & Reindel LLP. The case settled in January 2014.

David K.A. Mordecai is President and Co-Founder of Risk Economics®,  a New York City based advisory firm, as well as Senior Advisor to and a Member of the Advisory Committee of Compass Lexecon. The Risk Economics® litigation advisory practice provides advisory services and testimonial expertise on complex issues related to financial instrument valuation models and frameworks, market and industry standards and practices for the financing, risk management, active trading, and hedging of OTC derivatives and structured products.

David K.A. Mordecai Filed Multiple Expert Reports and Provided Deposition Testimony on Behalf of Ironshore Insurance

As lead for the Risk Economics® litigation and arbitration advisory practice, Dr. Mordecai serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes industrial and financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, he has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions.

See Compass Lexecon 2013 Newsletter.

David K.A. Mordecai Testified on Behalf of Zurich Re in a Multi-Billion Dollar Asbestos Dispute

David K.A. Mordecai Testified on Behalf of Zurich Re in a Multi-Billion Dollar Asbestos Dispute

David K.A. Mordecai, President of Risk Economics and Compass Lexecon affiliate,  testified on behalf of Zurich Re, a major reinsurance firm, in a multi-billion dollar asbestos dispute with a bankruptcy trust. The dispute involved a complex arrangement which included excess of loss reinsurance, risk financing (in the form of both a stop-loss and loss portfolio transfer facilities), and investment management agreements, as well as a credit derivative. After a resounding win for the client on summary judgment, the plaintiffs later agreed to abandon their appeal with prejudice for a de minimus settlement amount. As a high profile, multi-billion dollar test case with national scope as well as international policy implications for the reinsurance industry, this was a significant outcome not just for Zurich Re, but for insurance regulators as well.

In connection with the work in this case, David Mordecai worked with Richard Mancino and others of Willkie Farr & Gallagher LLP, and was assisted by David Gross, Peter Clayburgh, Rahul Sekhar, Andria van der Merwe, and Timothy McNally in Compass Lexecon’s Chicago office.

David K.A. Mordecai Testified on Behalf of Zurich Re in a Multi-Billion Dollar Asbestos Dispute

David K.A. Mordecai is President and Co-Founder of Risk Economics, Inc, a New York City based advisory firm. The Risk Economics® litigation advisory practice provides advisory services and testimonial expertise on complex issues related to financial instrument valuation models and frameworks, market and industry standards and practices for the financing, risk management, active trading, and hedging of OTC derivatives and structured products. Dr Mordecai is Senior Advisor to and a Member of the Advisory Committee of Compass Lexecon.

As lead for the Risk Economics® litigation and arbitration advisory practice, David Mordecai serves as an expert on loss causation and economic damages related to market structure, financial institutions governance, and complex issues related to finance, economics and market standards and practices within securities, derivatives, reinsurance, and commodities markets, as well as market structure within a broad range of non-financial industry sectors. His expertise includes industrial and financial engineering, the valuation of fixed income securities and structured products, including over-the-counter derivatives (in particular fixed income and credit derivatives), complex insurance and reinsurance liabilities, as well as asset liability and risk management models and practices. Having testified extensively at deposition, trial, arbitration and international arbitration, he has been admitted as an expert in federal, state and county courts, and cited favorably in court decisions.

See Compass Lexecon 2012 Newsletter.

Samantha Kappagoda and David K.A. Mordecai Presented at the Casualty Actuarial Society Spring 2011 Meeting

Samantha Kappagoda and David K.A. Mordecai Presented at the Casualty Actuarial Society Spring 2011 Meeting

Samantha Kappagoda and David K.A. Mordecai presented Harnessing Large Datasets to Navigate the Emerging Risk Landscape, during the session entitled Structural Shocks and Changing Dynamics Related to Emergent Risks, Evolving Health Trends, Demographic Shifts and Labor Markets at the Casualty Actuarial Society Spring 2011 Meeting. The meeting took place on May 15-18, 2011, in Palm Beach, FL.

The mission and purposes of the Casualty Actuarial Society are the following:

  • Advance the body of knowledge of actuarial science applied to general insurance, including property, casualty and similar risk exposures
  • Expand the application of actuarial science to enterprise risks and systemic risks
  • Establish and maintain standards of qualification for membership
  • Promote and maintain high standards of conduct and competence
  • Increase the awareness of actuarial science
  • Contribute to the well being of society as a whole

Samantha Kappagoda and David K.A. Mordecai Presented at the Casualty Actuarial Society Spring 2011 Meeting