BLN Open Meeting - Jun 5, 2007 (Wellesley, MA)

Topic: "Risk Management in a Global Business Environment"
Speaker: Frank Licata of Licata Kelleher & Co
Place: Rebecca's Café in the Wellesley Office Park, 55 William Street, Bldg. 3, Wellesley, MA 02181 (directions)

What are the risks of doing business in China and other countries? How do you manage business risks arising from political upheaval, earthquakes, floods, and storms? How do you insure against running afoul of foreign laws and regulations, employee injury, contract customs and language, and having to deal with non-admitted insurance, or local insurance in an immature insurance market? How do you manage risks relating to in Information Technology (IT)? How do you insure against intellectual property theft? How is data insured to protect against physical perils, virus, hacking or insider threat? Is there coverage for loss of or defacing of web sites, customers lists, customer orders? What about loss of income from the above? Is there coverage for liability from privacy, credit card numbers, or causing a virus? Do you need separate crime coverage for computer fraud and funds transfer theft?

Frank Licata, president of Licata Kelleher & Co will address these risk and insurance questions and other issues relating to globalization and information technology. Mr. Licata consults with businesses and public entities to help them understand risk, reduce the cost of risk and turn risk to competitive advantage. This includes the management of property and casualty insurance programs. His firm does not sell insurance, but rather works as a risk management consultant providing strategic advice to clients on a fee basis. Mr. Licata’s risk management career spans over 20 years, his most recent prior position involving a decade-long engagement with the country’s largest independent risk management consulting firm. He is the past president of the Massachusetts Society of Licensed Insurance Advisers, and has received numerous honors, designations and positions from industry associations and education institutions.