1. 2011 D&O Symposium Symposium 20 – 20 Hindsight What did it look like? Courtesy of Latty New York City ~ February 2 & 3, 2011

2. History of Your Favorite Underwriters (80+ years of experience) Young Brash Good Looking Smarter than a Fifth Grader? Athletes Style Family Results = Today

3. FLOODY

4. JOEY O!!!

5. RAFF

6. OPEN DISCUSSION

7. Rapid Fire Blue light special: Pay for 2, get 3 yrs Deploying $25 Million ABC Capacity Market Capitalization Reinsurance Rescission Outside Counsel Legal Expenses

8. Who Knew? Actuaries Risk Modeling Executive Compensation Jail or No Jail Settle before Adjudication Independent Directors More or Less Sleep

9. Beg 4 forgiveness Sixty (60) D&O Insurers Building for tomorrow Underwriting Criteria Credit Market Due Diligence Decision Making

10. HMMMMM Multi-year deals Mid-term quotes Enhanced broker compensation Most concerning recent coverage enhancement

11. Hindsight and Foresight: The Crystal Ball Emerging failed bank issue Industry consolidation Biggest current frustration Biggest current concern Worst account-specific underwriting decision you ever made

12. Do Tell Are you each shrinking your books dramatically? What are you telling senior management? Are you pegging your 2009 loss ratios meaningfully higher than 2008 or 2007? Do you believe you can create a meaningfully better loss ratio than your peers over time?

13. SuperBowl STEELERS OR PACKERS

14. AUDIENCE SPEAKS OUT Questions Concerns Observations Time for Cocktails