Rutgers Law-Camden Conference Explores Costs of Property Loss on March 1

CAMDEN — How the costs of catastrophic losses from events like Superstorm Sandy should be allocated and reduced will be discussed during a comprehensive conference at the Rutgers School of Law–Camden on Friday, March 1.

Sponsored by the Rutgers Center for Risk and Responsibility and the Institute for Professional Education, the conference “Fragmented Risk” will feature leading legal and insurance policy experts who will engage scholars, industry professionals, lawyers, and regulators on how insurance companies decide which risks they can insure, in what ways, and which risks fall outside of that scope.

According to Rutgers Law Distinguished Prof. Jay Feinman, the topic of fragmented risk is particularly timely after Superstorm Sandy. “Homeowners and businesses are discovering the conflicts and gaps produced by the fragmenting of risk among property insurance, flood insurance, and business insurance – and imposing risk on them when losses are not covered at all,” he notes.  “Shore property owners are facing huge increases in their flood insurance premiums because of changes in the pricing of the program.” 

Invited speakers include Prof. Jeffrey Stempel (University of Nevada, Las Vegas); Prof. Harold Weston (Georgia State University); Dr. Steven Weisbart (Insurance Information Institute); Prof. Chris French (Villanova University); Prof. Donald Hornstein (University of North Carolina); Michael Childress (Childress Duffy, Ltd.); Prof. Peter Kochenburger (University of Connecticut); Prof. James Davey (Cardiff University); Prof. Daniel Schwarcz (University of Minnesota); and Thomas Considine (MagnaCare).

“Insurance is the great protector of the financial security of the American middle class, but only when it works—as Sandy and other major events have revealed,” continues Feinman.  

“Insurance only works when consumers can buy adequate coverage at reasonable prices and claims are paid promptly and fairly. The Fragmented Risk conference provides a unique forum to meet and engage on these issues.”

The conference will be held from 8:30 a.m. to 3 p.m. at the Rutgers School of Law–Camden, located at 217 North Fifth Street, offers 5.0 CLE credit hours for New Jersey and New York attorneys and 4.0 CLE credits for Pennsylvania attorneys. General registration is $50; for attendees seeking CLE credit, registration is $100.

To register, visit camlaw.rutgers.edu/fragmentedrisk.