(February 26, 2008, Washington D.C.) Networks Financial Institute at Indiana State University will present the 5th annual Insurance Reform Summit on Wednesday, March 5, from 8:00 a.m. to 2 p.m. at the Ronald Reagan Building and International Trade Center in Washington D.C.  Against a financial landscape plagued by an uncertain economy, surging home foreclosures, and a Presidential election, thought leaders representing the insurance industry, government, media, and academia will address how both ongoing and new issues are shaping the nation’s insurance sector.

A new topic to this year’s agenda will be the issue of climate change and its role in defining insurance risk.  Dr. Howard Frumkin, Director of the National Center for Environmental Health will discuss why it is incumbent on insurers, regulators and the policy community to plan for the risk climate change presents to health insurers, policy makers and individuals. Dr. Frumkin will discuss how insurers can proactively plan for unforeseen disasters resulting from climate change including draughts, flooding and wildfires.

The keynote luncheon address will be presented by Fox News journalist Morton M. Kondracke who also serves as editor of Roll Call and co-host of The Beltway Boys.  Mr. Kondracke will discuss how the 2008 political climate and Presidential election are likely to impact the insurance industry.

Leadership representing government, regulatory bodies and key industry associations will share their views on the 2008 legislative, regulatory and industry practice environment.  Legislative speakers include U.S. Representative Melissa L. Bean (D-IL); Kathleen Mellody, Counsel, Majority Staff, House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises; and Andrew Olmem, Counsel, Minority Staff, Senate Committee on Banking, Housing and Urban Affairs.  Michael McRaith, Illinois Director of Insurance, for the National Association of Insurance Commissioners, will provide his perspective on regulatory issues impacting the insurance industry. 

A panel discussion will facilitate dialogue among various parties in the insurance industry including the American Bankers Insurance Association, American Council of Life Insurers, American Insurance Association, Coalition Opposed to a Federal Insurance Regulator, Independent Insurance Agents and Brokers of America, and the National Association of Mutual Insurance Companies.

Continuing its role as a leader in financial services research, including research within the insurance sector, Networks Financial Institute at Indiana State University will present the perspectives of two industry experts.  Professor Sharon Tennyson of Cornell University and Professor Therese M. Vaughan, Distinguised Professor of Insurance and Risk Management, Drake University and former President NAIC will share research and insights with attendees.

“As the industry continues to grapple with the issue of state versus federal chartering, the national economy and world markets remain uncertain, and 2008 elections approach, the insurance industry’s agenda is more complex than ever before,” noted Liz Coit, Execuitve Director, Networks Financial Institute.

Since its inception in 2004, the Summit has served as a forum for the exchange of differing perspectives on the insurance industry and financial services reform.  Additional details regarding the 5th Annual Insurance Reform Summit may be found at http://www.networksfinancialinstitute.org/News/Calendar/Pages/default.aspx?EventID=64.