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Intervention – The London Olympics: Urban Geopolitics
by Marijn Nieuwenhuis, University of Warwick
As the London Olympics 2012 draw to a final close and the city returns to its quotidian routine it is perhaps time to analyse some of the long-term impacts the Games could have on the geopolitics of the city. This article will analyse how the drastic spatial reorganisation of the city, as a result of the 'exceptional' event of the Games, exposes some more broader and worrying trends in the increasingly politicised relationship between being and space.
Despite the strenuous efforts of the International Olympic Committee and the British Government to depoliticise the event, before the first contest had begun the Olympics had been described as 'the most political' since the infamous 1936 Summer Olympiad in Berlin. British and international press outlets (e.g. BBC 2012a; The Guardian 2012; NBC 2012; Russia Today 2012) were filled with news on the unprecedented involvement of the military, the participation of private security firms, and, of course, the infamous 'surface-to-air missile' defence system' on London rooftops.
The motto of London 2012 – 'inspire a generation' – was cynical at best and sinister at worst. Who was the generation the slogan referred to and, perhaps more important, where were they? The Games were most certainly exclusionary in social terms but they also promoted a spatial fragmentation of the city. Carefully planned and policed 'Brand Exclusion Zones' were introduced not only in London but also in other British cities (BBC 2012b) to make sure that the Games would inspire a generation. Police and military involvement was accordingly employed to guarantee that inspiration was channelled most effectively. At other times such involvement was mobilised to ensure that unwanted segments of the generation would not spoil the inspiration of their peers. 'Suddenly' there was the realisation that a dystopian militarisation scenario was closer than ever before in post-war Britain. The 'state of exception' – which for many in the underprivileged parts of London and Britain is really no longer an exception – brought about by the Olympics was said to justify such extraordinarily high social costs.
The fact that the event has been labelled as the 'biggest peacetime security operation in British history' should give further food for thought to those that still so readily employ clearly demarcated divisions between areas and situations of war and peace. The militarisation of London also once again reminds us of the fact that war and the city have throughout time shared an intimate relationship. The latter forms the social-spatial construct of collective everydayness and is as such "the definitive human place" while war is characterised by the "consciously prosecuted occasion of collective violence that destroys places" (Graham 2004: 2). Modern warfare is, however, no longer (if it ever was) solely about 'destruction' in and for itself but is instead first and foremost about the controlling or securing of territory. Urban spaces are increasingly 'securitised' through ever more advanced Foucauldian 'technologies of power' in which detailed knowledge of territory becomes increasingly advanced and strategically essential. This is particularly the case with regards to the knowledge contained within maps.
London was during the Olympics placed under quarantine through territorial policing units such as the so-called 'Territorial Support Group' (TSG)[i] which employed carefully zoned cartographies of control (see Figure 1) to 'securitise' the area against unwanted 'dangers' that could disrupt the functioning of this mega event. Maps have in fact for centuries served as the potent means and favourite instruments of those in power to collect "information relevant to state control of the conduct of its subject population". As such they aid in "the direct supervision of that conduct" (Webster and Robins, quoted in Harley 2009: 130). Strategic maps such as those employed by the TSG contain explicit territorial knowledge of the space in which people travel and dwell. Such knowledge is consequentially used to pursue political interests such as those set out in Rule 50 of the Olympic Charter which demands from sovereign governments that "[n]o kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas" (ICO 2011: 91).
Figure 1: The map (available at: pic.twitter.com/GIHtlYit) has the title 'Total Policing' inscribed at the bottom which has been the Metropolitan Police's new strategy ever since the student protests in 2011
Freedom of movement and the right to protest was temporarily suspended during the Olympics but it was ensured that this 'exception' of the law did "not include activity that promotes or advertises a good or service" (DCMS 2011b: 79). This recommendation was mentioned in a report drafted by the Department for Culture, Media and Sport which went as far as imposing clothing requirements for visitors to the Olympic venues to prevent so-called 'ambush marketing' campaigns. The means to 'inspire a generation' were technically effectuated through the drawing of territorial borders and the creation of zones of exception (see Figure 2). The British government and a number of for-profit entities reacted (predictably) positively to the report and almost no mention was made about the issue of rights. The government and its stakeholders seemed instead more concerned about the "unlawful pedlars and charity collectors operating unregulated within the zone" (DCMS 2011a:11), 'ambush-marketing' (a key phrase used often), and generally protecting "sponsors' investments" (DCMS 2001a: 12). The report stated in rather explicit terms that the suspension of rights was justified as follows: "The Games are a once-in-a-lifetime occasion and it is reasonable for the Government to enact measures to facilitate the staging of the Games, even where those measures necessitate a limited and temporary interference with individuals' rights" (DCMS 2011b: 92)[ii].
Figure 2: Map for advertising and trade restrictions for Wimbledon. The objective of such maps is "to ensure: that the Games have a consistent look and feel across London and the UK; that the Games' sponsors are able to achieve appropriate brand exposure and are protected against ambush marketing; that spectators and those participating in the Games can access venues easily and safely" (see http://www.culture.gov.uk/consultations/7759.aspx). This and other maps are available at http://www.culture.gov.uk/consultations/7760.aspx
Maps played a central role to technically enable such a legal suspension of rights. Demarcations were drawn which legally affected the bodies of those located in these special areas. Spatial control through such cartographic means is an important part of the Met's new 'total policing' strategy in which territorial policing has become a core component. The newly created 'Territorial Policing Development Programme' which in early 2010 was established as the "[Metropolitan Police Service's] largest Key Change Programme" (London Assembly 2012: 1) is a good example of the important role of territory in the total policing approach. The programme is said to explore:
"all aspects of territorial policing, from total demand for services to our response to emergency and non emergency calls, from intelligence and investigation capabilities to detention and criminal justice processes, from safer neighbourhood policing to customer service and satisfaction" (Metropolitan Police 2011: 25).
Detailed information about the spaces in which humans exist has become pivotal for policing in London. The London Olympics have provided the 'state of emergency' (Agamben 2005) which allowed for an extraordinary suspension of rights in the spaces of the city. The supposed temporal nature of this suspension is, however, questionable given the increasing political priority that the policing of territory receives. The means through which this is achieved have rather unambiguously placed the spatial dimensions of biopolitics at the fore of discussions on the workings of power.
"[A]ll of a sudden", Graham (2004: 12) notes, "it seems normal for Western cities to face a palpable militarization previously more common in cities of the global South". This emphasis on 'suddenness' is perhaps misleading given that this state of affairs has for decades been internalised by those living in not-so 'exceptional' areas that have long been demarcated and labelled as 'no-go' or banlieue. The gradual privatisation and militarisation of the urban, justified by exceptional events such as the London Olympics but also the London protests, have a direct and long-lasting impact on the urban environment. These environmental changes are more fundamental than we might think given that the conditions for life itself start in space.
Marijn is a PhD student at the Department of Politics and International Studies at the University of Warwick.
Agamben G (2005) State of Exception. Chicago: University of Chicago Press
BBC (2012a). Olympic missiles put in position. http://www.bbc.co.uk/news/uk-england-london-18816421 (last accessed 12 July 2012)
BBC (2012b) Ricoh Arena to cover up signs for Olympics. http://www.bbc.co.uk/news/uk-england-coventry-warwickshire-16703448 (last accessed 29 July 2012)
DCMS (2011a) The Government Response to Advertising and Trading Regulations London 2012. London: Department for Culture, Media, and Sport
DCMS (2011b) Section 9: Exceptions to the Advertising Activity Regulations. London: Department for Culture, Media, and Sport
Graham S (2004) Cities, warfare, and states of emergency. In Graham S (ed) Cities, War, and Terrorism: Towards an Urban Geopolitics (pp1-25). Oxford: Blackwell
The Guardian (2012) London 2012: frustration and pride as military steps in to clear up G4S mess. http://www.guardian.co.uk/uk/2012/jul/20/london-2012-military-g4s-mess?intcmp=239 (last accessed 30 July 2012)
Harley J B (2009) Maps, knowledge, and power. In Henderson G and Waterstone M (eds) Geographic Thought: A Praxis Perspective (pp129-148). New York: Routledge
ICO (2011) Olympic Charter. Lausanne: International Olympic Committee
London Assembly (2012) Update on the Territorial Policing Development Plan. London: London Assembly
Metropolitan Police (2011) Policing London Business Plan 2012-15 (draft). London: Metropolitan Police Authority – Metropolitan Police Service
NBC (2012) Fortress London: UK protects Olympics with biggest security plan since World War II. http://worldnews.nbcnews.com/_news/2012/07/25/12929477-fortress-london-uk-protects-olympics-with-biggest-security-plan-since-world-war-ii (last accessed 1 August 2012)
Russia Today (2012) Siege city? Even more troops to guard London 2012. http://rt.com/news/uk-olympics-troops-security-047/ (last accessed 31 July 2012)
[i] For more information on the TSG, see their website: http://www.met.police.uk/sco/territorial_support.htm
[ii] The report goes on to justify this suspension and argues: "It is legitimate in a democratic society to take steps to protect commercial investments which have a public interest element to them. In this case, the social benefits of the Games could not be achieved without such commercial investments" (DCMS 2011b: 93).
exceptional spaces
geographical knowledges
London Olympics
Marijn Nieuwenhuis
spaces of exception
suspension of rights
the right to the city
Antipode Editorial Office Post author 29th August 2012 at 8:57 am
Stuart Elden has more about the Territorial Support Group, maps, and policing over at his blog, Progressive Geographies.


I've recently read Her Fearful Symmetry, it is good but not quite as good as The Time Traveller's Wife. You know know the whole intense build up towards the end of Time Traveller where you know something awful is going to happen, although there is also a build up of events towards the end of Her Fearful Symmetry, it's not quite as intense, that's the only real difference. Otherwise it's a good book and I found it interesting how my loyalties towards the characters shifted throughout the book. And as someone who has visited Highgate Cemmetry and was completely blown over how beautiful the place was, it was lovely reading a book where it features so predominately.
I often hesitate or take my time in reading a second book by an author whose work I had really enjoyed on a first encounter. Maybe it is fear it will not live up to my hopes or maybe it is in part savoring the anticipation of the reading of the new book.
Sorry you are server problems-I know it can make you feel cut off from the world.
Am I the only person who did not love The Time Traveler's Wife? It irritated me although I thought it was clever. Maybe I was feeling grumpy when I read it!
My bears are tiny bears – they would be scared of a really big bear!
One of the things that bothers me about moving house is the internet connection – some places are not as good as others. I hope you get yours sorted out soon – very soon!
Oh the pesky internet! Catching up here, Ann, after flu and the start of term. Glad you enjoyed Louise Penny – I have the third book in the series to read, which I found for a penny (very appropriate!) on the internet. And it IS difficult to approach a book when the first volume by that author might have set up tremendous expectations. But as I get older, I get more and more interested in the emotional patterns that structure life. To have big expectations that are hard to bear in case they are unfulfilled, well, that strikes me as a wonderful little insight into one's emotional climate that might well extend beyond the realm of reading. Perhaps not, of course, it might be isolated, but reading teaches us so much about ourselves in so many ways and I'm always grateful to learn in its gentle context!
Lacer, I have a friend at this end who loves Highgate cemetery as well. She's a librarian and when we were all reading Tracy Chevalier's Falling Angels she did a display in the library of the photos she'd taken there.
Mel, I'm sure you're right, there is a blend between the two emotions isn't there? And yes, I feel totally isolated without my server. Ten years ago I lived perfectly well without one but now!!
BP, it always encourages me when I come across someone who hasn't loved a book that everyone else did. It means I don't have to feel so bad when I'm in the same position. In theory there shouldn't be an internet problem here. I think it's my hub, but I may be being optimistic because that would be much easier to put right than hiving to have a re-wiring job done.
Litlove, sorry about the flu? Are you well recovered? Did you see that they are suggesting that they have found the cause of ME? It would be great if that's the case as then there might be a hope of sorting out how to treat it. I hear what you're saying about the links between our attitude to books and to life, but I'm not sure what you're suggesting. I don't think it's a compliment, is it?
I think I might be the only person left not to have read Audrey Niffenegger's first book yet, so I have no expectations at all. As a matter of fact I had not even thought of picking this one up until it came recommended from a few other bloggers. I do know what you mean though about loving a book so much you are afraid to read another by the same author! I look forward to your thoughts. Hope your internet problems are solved soon!
Hope your internet problems are resolved soon. We just dealt with that a couple of weeks ago, so the memory the frustration is fresh in my mind! Her Fearful Symmetry does sound scary…I will read it, but may wait for the paperback edition.
I haven't read The Time Traveler's Wife, although many people have suggested it. I'll wait and see what you think of the new one and then decide where to start!
Well, read on…though the reviews I've read are mixed, I look forward to yours. I listened to TTW and thought it really good, though I got impatient near the end when everything started falling apart for Henry. I thought the premise was terrific and Niffenegger did good by it. Not so sure about the twin premise–less inspired, but I'll reserve judgement for awhile yet.
My dad has two bears that sit in my parents' living room and keep them company–Boris (as in Godunov) and Aloysis (as in Brideshead Revisited). Boris wears a tie, but Aloysis is less formal. Too bad you weren't able to get a photo of the bears out for a ride on the motorcycle.
Danielle, I really recommend 'The Time Travelers Wife'. People who I would normally have expected to dislike it loved it.
Litlove, don't worry, I'm having a negative time at the moment and mis-reading everything.
JoAnn, I'm not usually up for a ghost story, which is probably one reason I'm a bit apprehensive.
Verbivore, I'm amazed you've got time to read at all at the moment. The baby must be very good.
Jane, we have an Aloysius Bear as well. He is sending is love to your parents' Bear even as I type.
I'm sorry about the internet trouble! I don't freeze up quite like you describe, but I do hate the feeling of worry that I might be disappointed, and I hate it when I've read and loved what everyone considers to be the best books by an author. When all I have left is the (potentially) second-rate, it's really awful. It was a sad day when I finally got around to reading Northanger Abbey, because it meant there were no more major Austen novels to read. Sigh.
Dorothy, one of the things I hate most in life is finding a writer and then discovering that there is no more to come. I think this is a fairly common feeling and is one of the reasons that the hunt for Shakespeare's Cardenio is so avid.
I'll be interested to read your review of Her Fearful Symmetry. I really liked it, though not as well as TTTW. But for me it wasn't a huge let down!


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2018 New York Maritime
Tuesday, October 9, 2018 - The Metropolitan Club, New York City
New York Maritime Week
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2017 New York Maritime Forum
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Ryan White
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Ryan White is the Director of Freight Initiatives in the Ports and Transportation Department at the New York City Economic Development Corporation. He manages maritime and rail freight planning projects, including the recently released FreightNYC, NYC's latest comprehensive freight plan. Ryan has a Master's Degree from NYU in Urban Planning and a Bachelor of Science Degree in Political Science from Santa Clara University.

redpajama_set_name: RedPajamaCommonCrawl


This home products post is sponsored by Babbleboxx, but all opinions are 100% my own. Thanks for helping me to support the brands I love.
As ya'll know, we moved a few months ago. It was stressful at first, but now we're getting to the fun part where we get to decorate and purchase new home products. I have teamed up with Babbleboxx today to share some of my favorite home products, some new and some that I've been using for years. I received My Cloud Home, Comet® Beach Powder and Comet® Foaming Bath Spray, the Waterpik PowerSpray+ Shower Head, Duck Brand Shelf Liners and Wemo Mini Wi-Fi Smart Plug. Keep reading to learn more about each product and get a code below when purchasing most of the products.
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Y'all have already heard me talk about Waterpik Shower Heads before, and I am obsessed with them! I have always loved rain shower heads, and I love how this is does double duty with the fixed mount and the hand held shower spray. This is especially perfect if you have children or pets. I could have used this a lot, especially when Leighton was little. Now I love the massaging larger shower head for myself. The Waterpik PowerSpray+ Shower Head delivers up to two times the massage force of Delta and Moen showers. Save $10 on this shower head when you shop through this link.
Have y'all ever tried Duck Brand Shelf Liners? I hadn't until I recently moved. Even after cleaning all the cabinets and drawers out, I still felt like they just weren't clean enough for me and wanted a way to store everything and know they were clean. These shelf liners have Clorox ® antimicrobial protection in them and make me feel so much better. Especially when putting up dishes that might still be a little damp. The protection in the liner helps to prevent the growth of odor-causing mold and mildew. The liners are easy to wipe for cleanup also. Save $1 off 2 rolls when you shop through this link.
Last up is the Wemo Mini Wi-Fi Smart Plug. This is another product that I was so excited about and LOVE! Just plug it into the wall, download the free app, connect to your Wi-Fi and then you can control your lights or appliances from anywhere in the world. If you have Amazon Echo or Google Home, you can even control Wemo with your voice. Plug in your stove to the smart plug. When you're gone, you can easily cut your stove off via the app if you left it on. You can do the same thing with lamps and even put them on timers to come on at night time. This tiny smart plug has seriously changed my life. It is so easy to turn your home into a smart home with Wemo. Use code BWM-KX5B-M638-XX88 for $5 off a Wemo Mini.
Have you tried any of these home products before? Which do you already love and which ones will you be trying out soon? Don't forget to use the discount codes!
Laura this a great post! I totally need to try the Home Cloud.
A good shower head is a must! We always seem to change out the shower head first thing when we move!
The My Cloud Home would be beyond helpful for Tony and I! Between his watch business and my blog/photos, we are always running out of storage!
This is such a cute box gift idea for my friend that just moved!
Such a great box. I love Comet and I need that showerhead!
I've never heard of this box, so definitely going to check it out. I like the idea of the My Cloud Home too.
I need that shower head in my life!
Wow! SO many goodies for the home! Love the Wemo and the google home! & Comet is a must have!
Definitely need all of this!!
What a perfect kit for home! So many useful items!
totally agree on the shower head- we ended up investing in a $75 shower head and it's been a GAME changer!


Jemma Cakebread is a graduate to watch!
Jemma uses various mediums to explore obsession with skin, light and the complexity of colour. She has exhibited in group shows Materiality, Louis Joel Gallery (2016) and SmallWorks, Brunswick Street Gallery (2016), where she on the Melbourne Studio of Art Prize. She completed a residency and had her first solo exhibition, Thread, Courthouse Gallery (2016). In addition to her art practice she interns at Brunswick Street Gallery and co-organised the Melbourne City Mission Charity Art Auction (2016).


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Land Sites
What's Permaculture
The only ethical decision is to take responsibility for our existence and that of our children.
The essence of Permaculture is the creative design of an ecologically sound way of living in our households, gardens, communities and businesses. It is created by cooperating with nature and caring for the earth and its people.
It tackles how to grow food, build houses and create communities, and minimise environmental impact at the same time. Its principles are being constantly developed and refined by people throughout the world in very different climates and cultural circumstances.
It is a practical method of developing ecologically harmonious, efficient and productive systems that can be used by anyone, anywhere.
By thinking about the way we use our resources - food, energy, shelter and other material and non-material needs - it is possible to get much more out of life by using less. We can be more productive for less effort, reaping benefits for our environment and ourselves, for now and for generations to come.
Permaculture is not exclusive - its principles and practice can be used by anyone, anywhere!
Design in Nature
Permaculture combines three key aspects:
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One thing is for sure. Its a fascinating subject, with many aspects, and its still evolving. In this section of the website we present more details about the different aspects of permaculture, and examples of how it is being used in Britain and around the world.
You can find out a lot more from the Permaculture Assoication's Website and you can also become a member.
Caring for all life systems so they can continue and multiply.
People Care
Look after yourself, family and community.
We are provided with times of abundance which enables us to share with others.
1. Observe and Interact
By taking the time to engage with nature we can design solutions that suit our particular situation.
2. Catch and store energy
By developing systems that collect resources when they are abundant, we can use them in times of need.
3. Obtain a yield
Ensure that you are getting truly useful rewards as part of the work that you are doing.
4. Apply self-regulation & accept feedback
We need to discourage inappropriate activity to ensure that systems can continue to function well.
5. Use & value renewable resources & services
Make the best use of nature's abundance to reduce our consumptive behaviour and dependence on non-renewable resources.
6. Produce no waste
By valuing and making use of all the resources that are available to us, nothing goes to waste.
7. Design from patterns to details
By stepping back, we can observe patterns in nature and society. These can form the backbone of our designs, with the details filled in as we go.
8. Integrate rather than segregate
By putting the right things in the right place, relationships develop between them and they support each other.
9. Use small and slow solutions
Small and slow systems are easier to maintain than big ones, making better use of local resources and produce more sustainable outcomes.
10. Use and value diversity
Diversity reduces vulnerability to a variety of threats and takes advantage of the unique nature of the environment in which it resides.
11. Use edges & value the marginal
The interface between things is where the most interesting events take place. These are often the most valuable, diverse and productive elements in the system.
12. Creatively use and respond to change
We can have a positive impact on inevitable change by carefully observing, and then intervening at the right time.
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Tag Archives: gaap
Modernizing Insurance Accounting — Finally!
April 13, 2017 Richard de Haan	Leave a comment
Modernization of insurance accounting is finally here. The FASB issued its final guidance on enhanced disclosures for short duration contracts in May 2015 and published an exposure draft in September 2016 on targeted improvements to the accounting for long-duration contracts.
After literally decades of deliberations, the IASB has completed its most recent exposure draft and plans to issue a final comprehensive accounting standard in the first half of 2017. Moreover, additional changes in the statutory accounting for most life insurance contracts are coming into effect; a company can elect to have Principles Based Reserving (PBR) effective on new business as early as Jan. 1, 2017. Companies have three years to prepare for PBR, with all new business issued in 2020 required to be valued using PBR.
The impact of these regulatory changes is likely to be significant to financial reporting, operations and the business overall. Instead of approaching accounting modernization as a compliance exercise, companies instead should view the changes holistically, with an understanding that there will be impacts to systems, processes, profit profiles, capital, pricing and risk. Planning effectively and building a case for change can create efficiencies and enhanced capabilities that benefit the business more broadly.
Financial reporting modernization will affect the entire organization, not just the finance and actuarial functions. Operations and systems; risk management; product development, marketing and distribution; and even HR will need to change.
FASB's Targeted Changes
In May 2015, the FASB issued Accounting Standards Update (ASU) 2015-09, Disclosures about Short-Duration Contracts.
Rather than changing the existing recognition and measurement guidance in U.S. GAAP for short-duration contracts, the FASB responded to views from financial statement users by requiring enhanced disclosures for the liability for unpaid claims and claims adjustment expenses. The disclosures include annual disaggregated incurred and paid claims development tables that need not exceed ten years, claims counts and incurred but not reported claim liabilities for each accident year included within the incurred claim development tables, and interim (as well as year-end) roll forwards of claim liabilities.
The enhanced disclosures will be effective for public business entities for annual reporting periods beginning after Dec. 15, 2015 (i.e., 2016 for calendar year end entities) and interim reporting periods thereafter. The new disclosures may require the accumulation and reporting of new and different groupings of claims data by insurers from what is currently captured for U.S. statutory and other reporting purposes. Public companies are currently preparing now by making changes to existing processes and systems and performing dry runs of their processes to produce these disclosures. Non-public business entities will have a one-year deferral to allow additional time for preparation.
See also: Who Is Innovating in Financial Services?
In September 2016, the FASB issued a proposed ASU on targeted improvements to the accounting for long-duration contracts. Proposed revisions include requiring the updating of cash flow assumptions and use of a high-quality fixed-income discount rate that maximizes the use of market observable inputs in calculating various insurance liabilities, simplifying the deferred acquisition costs amortization model and requiring certain insurance guarantees with capital market risk to be reported at fair value. The FASB also proposed enhanced disclosures, which include disaggregated roll forwards of certain asset and liability balances, additional information about risk management and significant estimates, input, judgments and assumptions used to measure various liabilities and to amortize deferred acquisition costs ("DAC"). No effective date was proposed, and transition approaches were provided with the recognition that full retrospective application may be impracticable.
IASB to issue a new comprehensive standard
The IASB's journey to a final, comprehensive insurance contracts standard is nearly complete. After reviewing feedback from field testing by selected companies in targeted areas, the IASB completed its deliberations in November 2016.
The IASB staff is proceeding with drafting IFRS 17 (previously referred to as IFRS 4 Phase II) with a proposed effective date of Jan. 1, 2021. Three measurement models are provided for in the standard: 1) Building Block Approach ("BBA"); 2) Premium Allocation Approach ("PAA"); and 3) the Variable Fee Approach ("VFA").
The default model for all insurance contracts is the BBA and is based on a discounted cash flow model with a risk adjustment and deferral of up-front profits through the Contractual Service Margin (CSM). This is a current value model in which changes in the initial building blocks are treated in different ways in the P&L. Changes in the cash flows and risk adjustment related to future services are recognized by adjusting the CSM, whereas those related to past and current services flow to the P&L. The CSM amortization pattern is based on the passage of time and drives the profit recognition profile. The effect of changes in discount rates can either be recognized in other comprehensive income (OCI) or P&L.
The IASB has also allowed for the use of the PAA for qualifying short-term contracts, or those typically written by property and casualty insurers. This approach is similar to an unearned premium accounting for unexpired risks with certain differences such as deferred acquisition costs offsetting the liability for remaining coverage rather than being reflected as an asset. The claims liability, or liability for incurred claims, is measured using the BBA without a CSM.
Discounting of this liability for incurred claims would be required, except where a practical expedient applies for contracts in which claims are settled in one year or less from the incurred date. Similar to the BBA model, the effect of changes in discount rates can either be recognized in other comprehensive income ("OCI") or the P&L.
The VFA is intended to be applied to qualifying participating contracts. This model was subject to extensive deliberations, considering the prevalence of such features in business issued by European insurers. This model recognizes a linkage of the insurer's liability to underlying items where the policyholders are paid a substantial share of the returns, and a substantial proportion of the cash flows vary with underlying items. The VFA is the BBA model but with notable differences in treatment including the changes in the insurer's share of assets being recognized in the CSM, accretion of interest on CSM at current rates, and P&L movements in liabilities mirroring the treatment on underlying assets with differences in OCI, if such an option is elected.
The income statement will be transformed significantly. Rather than being based on premium due or received, insurance contract revenue will be derived based on expected benefits and expenses, allocation of DAC and release of the CSM and risk adjustment. The insurance contracts standard also requires substantial disclosures, including disaggregated roll forwards of certain insurance contract assets and liability balances.
Forming a holistic strategy and plan to address accounting changes will promote effective compliance, reduce cost and disruption, and increase operational efficiency, as well as help insurers create more timely, relevant, and reliable management information.
Statutory accounting: The move to principles-based reserving
The recently adopted Principles-Based Reserving ("PBR") is a major shift in the calculation of statutory life insurance policy reserves and will have far-reaching business implications. The former formulaic approach to determining policy reserves is being replaced by an approach that more closely reflects the risks of products. Adoption is permitted as early as 2017 with a three-year transition window. Management must indicate to their regulator if they plan on adopting PBR before 2020.
PBR's primary objective is to have reserves that properly reflect the financial risks, benefits and guarantees associated with policies and also reflect a company's own experience for assumptions such as mortality, lapses and expenses. The reserves would also be determined assessing the impact under a variety of future economic scenarios.
PBR reserves can require as many as three different calculations based on the risk profile of the products and supporting assets. Companies will hold the highest of the reserve using a formula-based net premium reserve and two principle-based reserves – a Stochastic Reserve (SR) based on many scenarios and a Deterministic Reserve (DR) based on a single baseline scenario. The assumptions underlying principles-based reserves will be updated for changes in the economic environment, for changes in company experience and for changes in margins to reflect the changing nature of the risks. A provision called the "Exclusion Tests" allows companies the option of not calculating the stochastic or deterministic reserves if the appropriate exclusion test is passed. Reserves under PBR may increase or decrease depending on the risks inherent in the products.
PBR requirements call for explicit governance over the processes for experience studies, model inputs and outputs and model development, changes and validation. In addition, regulators will be looking to perform a more holistic review of the reserves. Therefore, and as we noted in the 2015 edition of this publication, it is critical that:
The PBR reserve process is auditable, including the setting of margins and assumptions, performing exclusion tests, sensitivity testing, computation of the reserves and disclosures;
Controls and governance are in place and documented, including assumption oversight, model validation and model risk controls; and
Experience studies are conducted with appropriate frequency and a structure for sharing results with regulators is developed.
PBR will introduce volatility to life statutory reserving, causing additional volatility in statutory earnings. Planning functions will be stressed to be able to forecast the impact of PBR over their planning horizons because three different reserve calculations will need to be forecast.
There is no "one size fits all" approach to addressing the FASB's and IASB's changes. Each company will likely be starting from a different place and may have different goals for a future state.
A company's approach to addressing these changes can vary depending on a variety of factors, such as the current maturity level of its IT architecture and structure, potential impact of proposed changes on earnings emergence and regulatory capital and current and planned IT and actuarial modernization initiatives. In other words, there is no "one size fits all" approach to addressing these changes.
Each company likely will be starting from a different place and may have different goals for a future state. A company should invest the time to develop a strategic plan to address these changes with a solid understanding of the relevant factors, including similarities and differences between the changes. In doing so, companies should keep in mind the following potential implications:
Where accounting options or interpretations exist, companies should thoroughly evaluate the implications of such decisions from a financial, operational and business perspective. Modeling can be particularly useful in making informed decisions, identifying pros and cons and facilitating decisions.
Financial statement presentation, particularly in IFRS 17, could change significantly. Proper planning and evaluation of requirements, presentation options, granularity of financial statement line items and industry views will be essential in building a new view of an insurer's financial statements.
Financial statement disclosures could increase significantly. Requirements such as disaggregated roll forwards could result in companies reflecting financial statement disclosures, investor supplements and other external communications at lower levels than previously provided.
Change is not limited to insurance accounting. Other areas of accounting change include financial instruments, leasing and revenue recognition. For example, the impact of changes in financial instruments accounting will be important in evaluating decisions made for the liability side of the balance sheet.
See also: The Defining Issue for Financial Markets
Inherent in each of these accounting changes is a company's ability to produce cash flow models and use data that is well-controlled. Companies should consider performing a current state assessment of their capabilities and leverage, to the extent possible, infrastructure developed to comply with other regulatory changes such as Solvency II and ORSA and identify where enhancements or new technology is needed.
Given the increased demands on technology, computing and data resources that will be required, legacy processes and systems will not likely be sufficient to address pending regulatory and reporting changes. However, this creates an opportunity for these accounting changes to possibly be a catalyst for finance and actuarial modernization initiatives that did not historically have sufficient business cases and appetite internally for support.
As these accounting changes are generally based on the use of current assumptions, there will be an increased emphasis on the ability to efficiently and effectively evaluate historical experience on products by establishing new or enhancing existing processes. Strong governance over experience studies, inputs, models, outputs and processes will be essential.
As complexity increases with the implementation of these accounting changes, the impact on human resources could be significant. Depending on how many bases of accounting a company is required to produce, separate teams with the requisite skill sets may be necessary to produce, analyze and report the results. Even where separate teams are not needed, the close process will place additional demands on existing staff given the complexity of the new requirements and impact to existing processes. Companies may want to consider a re-design of their close process, depending on the extent of the impacts.
Product pricing could be affected as companies consider the financial impacts of these accounting changes on profit emergence, capital and other internal pricing metrics. For instance, the disconnect of asset yields from discounting used in liabilities under U.S. GAAP and IFRS could result in a different profit emergence or potentially create scenarios where losses exist at issuance.
Companies may make different decisions on asset and liability matching or choose to hedge risk on products differently. Analysis should be performed to understand changes in the measurement approach with respect to discount rates and financial impacts of guarantees such that an appropriate strategy can be developed.
The move to accounting models where both policyholder behavior and market-based assumptions are updated more frequently will likely result in greater volatility in earnings. Management reporting, key performance indicators, non- GAAP measures, financial statement presentation and disclosure and investor materials will need to be revisited such that an appropriate management and financial statement user view can be developed.
The impact from a human resources perspective should not be underestimated. Performance-based employee compensation plans that are tied to financial metrics will likely need to change. Employees will also need to receive effective training on the new accounting standards, processes and systems that will be put in place.
Forming a holistic strategy and plan to address these changes will promote effective compliance, reduce cost and disruption and increase operational efficiency, as well as help insurers create more timely, relevant and reliable management information. Given the pervasive impact of these changes, it is important that companies put in place an effective governance structure to help them manage change and set guiding principles for projects. For example, this involves the development of steering committees, work streams and a project management office at the corporate and business group level that can effectively communicate information, navigate difficult decisions, resolve issues and ensure progress is on track.
Each company has a unique culture and structure, therefore governance will need to be developed with that in mind to ensure it works for your organization. Companies that do not plan effectively and establish effective governance structures are likely to struggle with subpar operating models, higher capital costs, compliance challenges and overall lack of competitiveness.
accountingaccounting standards updateasubbacontractual service margincsmdacde haandeferred acquisition costsdeterministic reserveexclusion testfasbgaapiasbIFRSociother comprehensive incomepaapbrprinciples based reservingpwcRichard de Haanroll forwardstochastic reservevfa
Possibilities for Non-Traditional M&A
February 14, 2017 John Marra	Leave a comment
2015 was a record year for announced insurance deals, as long-anticipated industry consolidation finally started to occur. Several factors have driven consolidation, notably slow economic growth and persistently low interest rates, both of which have limited opportunities for organic growth and forced insurers to reconsider their long-term competitive strategies. Combined with record levels of corporate capital and private equity funding, these pressures have created the perfect opportunity for both buyers and sellers.
Historically, regulatory or financial pressures have driven insurance carve-outs. [An insurance carve-out is a transaction in which a seller divests part of its business (e.g., a particular customer group, product line or geographic area) rather than an acquirer buying the entire enterprise. The seller typically benefits from exiting sub-scale or unprofitable lines, while the acquirer is able to increase scale or geographic reach.] These pressures typically have included repayment of emergency funding received during the financial crisis, fulfillment of regulatory conditions for receiving state aid, divestment to free up capital and improve solvency ratios in preparation for Solvency II, or the shoring up of capital via asset sales following losses.
In recent years, we have seen the industry move away from complex multi-line business models. Insurers are exiting sub-scale business lines to improve returns and compete in an environment in which technology is disrupting tradition business drivers. There are many insurers considering carve-out transactions or IPOs as sellers, and there are even more looking to build market share by acquiring and consolidating businesses with their existing operations.
See also: Insurance M&A Stays Active in 2016
However, insurance carve-outs tend to be more complex in both transaction structure and post-merger integration than an acquisition of an entire insurance enterprise, and require careful planning and execution to successfully separate the acquired business ("SpinCo") from its former parent ("RemainCo").
What should executives be aware of when they consider these types of transactions?
Planning and Organization
Confidentiality, maintaining optionality and speed of execution are critical to maximizing deal value.
The flexibility to execute deals via alternative structures (described below) helps maintain optionality. In addition, a thorough understanding of the M&A landscape is necessary for sellers to run a competitive sales process and for buyers to understand how to properly position themselves for success.
To facilitate speed of execution, executives need to simultaneously focus on multiple priorities, including deal execution, separation planning and negotiation of transitional service agreements (TSAs). Leading practices include having a transaction committee that can rapidly make decisions and a project office that guides the planning effort.
Acquisitions of an entire insurance enterprise typically involve the purchase of all of a holding company's issued stock. The holding company, its subsidiary legal entities, assets and liabilities, products and licenses, people, technology and infrastructure transfer to the control of the acquirer at close. A carve-out requires a different approach. It is rare that the business being sold is fully contained within a single subsidiary legal entity. More frequently, the business being disposed of is written across numerous legal entities and is mingled with business that is core to, and remains with, the vendor. Therefore, carve-outs typically use a mix of strategies to separate the insurance business of SpinCo from RemainCo:
Renewal rights – The acquirer receives an option or obligation to renew the acquired business in its own legal entities.
Reinsurance – Renewal rights may be accompanied by reinsurance transferring the economics of the historical book either to the acquirer, to other entities owned by the vendor or to a third party.
Fronting – Certain domiciles, such as Japan and the U.S., require regulatory authorization of products or rates prior to their availability to policyholders, and such product approval frequently takes longer than regulatory approval for a change of control. When an acquirer doesn't have regulatory approval to immediately write the business in its own legal entities, the transaction structure typically allows an acquirer to:
Continue to issue and renew policies using the vendor's legal entities for a defined period of time, and
Assume the economics of the business via reinsurance. The acquirer frequently is responsible for administering the business (which is still the legal and regulatory responsibility of the vendor's legal entities) via a servicing agreement.
Stock transactions – These are used when assets and liabilities can be segregated into legal entities (e.g. using the European Economic Area's (EEA) insurance business transfer mechanisms), or when a legal entity, such as a specialist underwriting agency, specifically supports the business being sold.
Transfer of assets and contracts/TSAs – Just as the insurance business being sold may be diffused across the vendor's legal entities, the same may also apply to the people, facilities, technology and contracts with sellers that support the business. While a certain portion of these will clearly align either to SpinCo (and will transfer at close) or RemainCo, there will be a significant subset (particularly in IT and corporate services) that support both and are not easily divisible. For such functions where SpinCo is heavily reliant on the resources of its former parent and it is not possible for the acquirer to fully replace such services prior to the transaction closing, a TSA provides the acquirer and SpinCo with continuing access to and support from RemainCo's resources after close.
Negotiating the TSA
TSAs provide access to the resources and infrastructure of the former parent for a defined period. While in certain simpler transactions, TSAs can be for as little as three months and require only that the support provided previously be maintained at the same service levels and at the same cost basis, it is more common that acquirer and vendor during the months prior to close:
Understand and define the reliance of the business being sold on its parent (and vice versa);
Set the duration post-close for each service required under the TSA;
Agree on the charging basis e.g. fixed monthly fee, usage, hourly rates (for tax efficiency, each service is usually priced individually);
Establish service levels and post-close governance processes.
The acquirer should set realistic timeframes for exiting from individual services. The complexity of insurance policy administration systems, the frequent integration of certain capabilities (such as billing, commissions, and contact centers) across products and the need to separate networks, migrate data centers and implement replacement mainframes frequently require TSAs of 24 to 36 months.
TSAs also may cover centrally provided non-IT services, including HR/payroll/benefits administration, facilities management, procurement, compliance or financial and management and regulatory reporting. However, the duration of these TSAs tend to be shorter – usually a few months, or sufficient to support regulatory and financial reporting for the period following close.
Ideally, the acquirer should seek as much flexibility as possible with the duration of the TSA. It should have the right to terminate the TSA early, the option to extend it at pre-agreed rates and the inclusion of force majeure clauses (a natural catastrophe can significantly affect exiting from a TSA).
Contract assignment and access to shared reinsurance
An area of often-underestimated complexity in carve-outs is the need to ensure that the separated business can continue to receive the benefit of third-party contracts with suppliers, distributors and reinsurers. In most jurisdictions, contracts cannot simply be novated (the insurance business transfer mechanisms of the EEA provide certain exceptions), but instead each contract must be evaluated to determine if assignment simply requires notification to the counterparty or its express consent.
The challenges that arise in contract transfer are both:
Logistical – 85% of counterparties contacted typically respond at first instance. However, a recent carve-out had more than 50,000 contracts that needed to be assessed, prioritized and migrated. In this instance, chasing down the remaining 15% was a real challenge.
Commercial – Certain experienced counterparties, knowing the tight timeframe for most transactions, may try to renegotiate better terms either prior to the contract being assigned to the acquirer, or prior to permitting the vendor to use the contract to provide services under the TSA.
Also important in a carve-out is a clear apportionment of access to historic reinsurance programs shared between the vendor's continuing business and the business being sold, as well as definition of the resolution process for any post-close disputes.
Executing close
Transaction close for virtually all insurance carve-outs is triggered by the receipt of one or more regulatory consents enabling the execution of fronting, reinsurance and stock transfer agreements.
When migrating staff and assets supporting SpinCo to the acquirer, supporting staff and assets are moved into a legal entity, the ownership of which transfers at close in certain cases. However, when the relevant staff are not employed or supporting assets are not owned by legal entities transferring to the acquirer at close, there will need to be arrangements for the valuation and transfer of both tangible and intangible assets (e.g. trademarks) and the offering of employment and enrollment in benefits to selected staff by the acquirer. This is a significant logistical exercise for an HR function.
See also: Group Insurance: On the Path to Maturity
Insurance carve-outs are also particularly challenging for finance functions:
The combination of renewal, reinsurance and legal entity acquisition in the transaction structure complicates accounting immediately post-close.
Cross-border acquisitions can include acquirers and sellers with different accounting standards (e.g. IFRS, U.S. GAAP, statutory and JGAAP) that often have very different rules on the treatment of assets and liabilities.
The practice of closing at a month or quarter end – which in some ways can simplify the transition – may also introduce a tight and immovable timeframe for external financial and regulatory reporting.
Lastly, although there typically will be several months between the deal being agreed upon and the close, this may not be sufficient time – particularly in larger acquisitions across multiple locations – to roll out the acquirer's networks and desktop technology prior to close. Therefore, full access to the acquirer's IT capabilities may need to wait until later in the integration.
Post carve-out integration
While an acquisition of an entire enterprise provides a pre-existing governance structure, an insurance carve-out typically includes fewer members of senior management and requires rapid integration of functional management within the acquirer's existing structure, the expansion of governance and compliance structures to include the acquired operations and the establishment and communication of delegations of authority and decision-making rights.
Due diligence should have provided the acquirer with initial hypotheses as to the organizational capabilities required by the combined organization, interim and end-state operating models, and opportunities for synergies.
As with any insurance acquisition, synergies in carve outs are typically realized through:
Functional consolidation.
Platform consolidation and process standardization, which enhances productivity and enables staffing efficiencies.
Facilities and infrastructure reduction, and
Reduced costs through more efficient third-party vendor selection.
PwC's research indicates that the most successful acquisitions are those that develop momentum by demonstrating tangible integration benefits in the first 100 days. Accordingly, the acquirer should act fast but should also be prepared to revisit pre-deal assumptions and revise its integration roadmap as the two organizations integrate and new information becomes available.
Based on what we see in the market, notably a recent succession of P&C and reinsurance megadeals, we predict that insurance industry consolidation will continue apace. Multi-line insurers have divested themselves of numerous franchises and this trend seems likely to continue. Because these types of transactions are complex and depend on many internal and external factors, companies that are considering such moves will need to be aware of and address the many challenges and issues we describe above.
This article was written by John Marra, Mark Shepherd, Michael Mariani, and Tucker Matheson.
acquisitionscarve-outeeagaapIFRSiposjgaapJohn Marram&amarianimark shepherdMarramathesonmergersmichael marianipwcshepherdsolvency iiTSAtucker matheson
Directors & Officers, Insurance Law
Tips for Avoiding Securities Litigation
September 18, 2014 Douglas Greene	Leave a comment
Here are tips on how public companies can better protect themselves against securities claims — practical steps companies can take to help them avoid suits, mitigate the risk if they are sued and defend themselves more effectively and efficiently.
Avoiding suits
Companies can avoid many suits with what I'll call "better-feeling" disclosures. Nearly all public companies devote significant resources to accounting that conforms with GAAP, and non-accounting disclosures that comply with the labyrinth of disclosure rules. Despite tremendous efforts in these areas, events sometimes surprise officers and directors — and the market — and make a company's previous accounting or non-accounting disclosures appear to have been inaccurate. But plaintiffs' lawyers decide to sue only a subset of such companies — a smaller percentage than most people would assume. What makes them sue Company A, but not Company B, when both have suffered a stock price drop because of a development that relates to their earlier disclosures? There are a number of factors, but I believe the driver is whether a company's disclosures "feel" fair and honest. Without the benefit of discovery, plaintiffs' lawyers have to draw inferences about whether litigation will reveal fraud or a sufficient degree of recklessness — or show that the discrepancies between the earlier disclosures and later revelations was due to mistake or an unanticipated development.
What can companies do to make their disclosures "feel "more honest? An easy way is to improve the quality of their Safe Harbor warnings. Although the Reform Act's Safe Harbor was designed to protect companies from lawsuits over forward-looking statements, there are still an awful lot of such actions filed. The best way to avoid them is by crafting risk warnings that are current and candid. A plaintiffs' lawyer who reads two years' worth of risk factors can tell whether the risk factors are boilerplate or an honest attempt to describe the company's risks. The latter deters suits. The former invites them.Another way for companies to improve their disclosures is through more precision and a greater feel of candor in the comments they make during investor conference calls. Companies sweat over every detail in their written disclosures but then send their CEO and CFO out to field questions on the very same subjects and improvise their responses. What executives say, and how they say it, often determines whether plaintiffs' lawyers sue — and, if they do, how difficult the case will be to defend. A majority of the most difficult statements to defend in a securities class action are from investor calls, and plaintiffs' lawyers listen to these calls and form impressions about officers' fairness and honesty.
Companies looking to minimize the risks of litigation should also take steps to prevent their officers and directors from making suspicious-looking stock sales — for obvious reasons, plaintiffs' lawyers like to file suits that include stock sales. If a company's officers and directors don't have 10b5-1 plans, companies should establish and follow an insider trading policy and, when in doubt, seek guidance from outside counsel on issues such as trading windows and the propriety of individual stock sales, both as to the legal ability to sell, and how the sales will appear to plaintiffs' lawyers. Even if officers and directors have 10b5-1 plans, companies aren't immune to scrutiny of their stock sales — plaintiffs' lawyers usually aren't deterred by 10b5-1 plans, contrary to conventional wisdom. So companies should consult with their counsel about establishing and maintaining the plans, to avoid traps for the unwary.
Defending suits
Whether a securities class action is a difficult experience or a fairly routine corporate legal matter usually turns on the company's decisions about directors' and officers' indemnification and insurance, choice of defense counsel and management of the defense of the litigation.
Deciding on the right director and officer protections and defense counsel require an understanding of the seriousness of securities class actions. Although they are a public company's primary D&O litigation exposure, most companies don't understand the degree of risk they pose. Some companies seem to take securities class actions too seriously, while others might not take them seriously enough.
The right level of concern is almost always in the middle. A securities class action is a significant lawsuit. It alleges large theoretical damages and wrongdoing by senior management and often the board. But the risk presented by a securities action is usually very manageable, if the company hires experienced, non-conflicted and efficient counsel and devotes sufficient time and energy to the litigation. Cases can be settled for a predictable amount, and it is exceedingly rare for directors and officers to write a personal check to defend or settle the case. On the other hand, it can be a costly mistake for a company to take a securities class action too lightly; even meritless cases can go wrong.
The right approach involves several practical steps that are within every company's control.
Companies should hire the right D&O insurance broker and treat the broker as a trusted adviser.
There is a talented and highly specialized community of D&O insurance brokers. Companies should evaluate which is the right broker for them — they should conduct an interview process to decide on the right broker and seek guidance from knowledgeable sources, including securities litigation defense counsel. Companies should heavily utilize the broker in deciding on the right structure for their D&O insurance program and in selecting the right insurers. And, because D&O insurance is ultimately about protecting officers and directors, companies should have the broker speak directly to the board about the D&O insurance program.
Boards should learn more about their D&O insurers.
Boards should know their D&O insurers' financial strength and other objective characteristics. But boards should also consider speaking with the primary insurer's underwriting executives from time to time, especially if the relationship with the carrier is, or may be, long-term. The quality of any insurance turns on the insurer's response to a claim. D&O insurance is a relationship business. Insurers want to cover D&O claims, and it is important to them to have a good reputation for doing so. The more the insurer knows the company, the more comfortable the insurer will be about covering even a difficult claim. And the more a board knows the insurer, the more comfortable the board will be that the insurer will cover even a difficult claim.
Boards should oversee the defense-counsel selection process, and make sure the company conducts an interview process and chooses counsel based on value.
The most important step for a company to take in defending a securities class action is to conduct an audition process through which the company selects conflict-free defense counsel who can provide a quality defense — at a cost that leaves the company enough room to defend and resolve the litigation within policy limits. Put differently, the biggest threats to an effective defense of a securities class action are the use of either a conflicted defense counsel, defense counsel who will charge an irrational fee for the litigation or counsel who will cut corners to make the economics appear reasonable.
Errors in counsel-selection most often occur when a company fails to conduct an interview process, or fails to consult with its D&O insurers and brokers, who are "repeat players" in D&O litigation and thus have good insights on the best counsel for a particular case. Although the Reform Act's 90-day lead plaintiff selection process gives companies plenty of time to evaluate, interview, and select the right defense counsel for the case, many companies quickly hire their corporate counsel's litigation colleagues, without consulting with brokers and insurers or interviewing other firms.
The right counsel may end up being the company's normal corporate firm, but a quick hiring decision rarely makes sense under a cost-benefit analysis. The cost of hiring the wrong firm can substantial — the harm includes millions of dollars of unnecessary fees; hundreds of hours of wasted time by the board, officers and employees; an outcome that is unnecessarily uncertain; and an unnecessarily high settlement — and there's very little or no upside to the company.
On the other hand, it costs very little to interview several firms for an hour or two each, and the benefit can be substantial – free and specialized strategic advice by several of the handful of lawyers who defend securities litigation full time, and potentially substantial price and other concessions from the firm that is ultimately chosen. The auditioning lawyers can also provide guidance to the company on whether its corporate counsel faces conflicts and, if so, the potential harm to the company and the officers and directors from hiring corporate counsel anyway.
10b5-1class actionsd&odefense counseldirectors and officersdoug greenedouglas greenegaapgreeneplaintiffs lawyerssafe harborsecurities class actions


For almost 2 years photographers Christian Gibson and Chris Gooley drove through Latin Americas wilderness. This collection is the first in a series of releases from their epic adventure and encapsulates their passion for seeking the most beautiful places on the planet. Both believe that inspirational images from the natural world will help grow a heightened appreciation of nature, hopefully sparking desire for conservation.


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Rule: 24.9.125 Prev Up Next
Rule Title: COMMISSION HEARINGS
Department: LABOR AND INDUSTRY
Chapter: HUMAN RIGHTS COMMISSION
Subchapter: Organizational Rules
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):
24.9.125 COMMISSION HEARINGS
(1) On the date fixed by the commission for oral argument, a quorum of the commission shall consider objections to dismissals by the Human Rights Bureau and appeals of hearing officer decisions.
(2) Upon motion of the commission, any member of the commission who is absent at the presentation of oral argument may participate in deliberations and the entry of a final decision or order of the commission if he or she, where required, reviews the complete record of the contested case, including a recording or transcript of the oral argument of the parties.
(3) At the time of oral argument, and subject to the rule of the commission chair, any member of the commission may pose questions to a party or his or her representatives.
(4) Following hearing, the chair of the commission, or any member acting in the chair's stead, shall issue the final order of the commission. At that member's discretion, the final order may be referred to the immediately subsequent hearing of the commission. At that time, the commission's review is limited to whether the proposed order complies with the motions made by the commission previously.
History: 49-2-204, 49-3-106, MCA; IMP, 49-2-204, 49-2-511, 49-3-315, MCA; NEW, 1998 MAR p. 3201, Eff. 12/4/98; TRANS, from 24.9.1718, and AMD, 2008 MAR p. 2636, Eff. 12/25/08; AMD, 2017 MAR p. 91, Eff. 1/7/17.
<!-1Effective rule versions existed in ARM on or after March 31, 2007
MAR Notices
Effective From
Effective To
24-9-317 1/7/2017 Current History: 49-2-204, 49-3-106, MCA; IMP, 49-2-204, 49-2-511, 49-3-315, MCA; NEW, 1998 MAR p. 3201, Eff. 12/4/98; TRANS, from 24.9.1718, and AMD, 2008 MAR p. 2636, Eff. 12/25/08; AMD, 2017 MAR p. 91, Eff. 1/7/17.
24-8-232 12/25/2008 1/7/2017 History: 49-2-204, 49-3-106, MCA; IMP, 49-2-204, 49-2-511, 49-3-315, MCA; NEW, 1998 MAR p. 3201, Eff. 12/4/98; TRANS, from 24.9.1718, and AMD, 2008 MAR p. 2636, Eff. 12/25/08.
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Flatten Plane & Chisel Blade Backs for The Sharpest Edges
Filed Under (Sharpening) by Keith
The sharpest tool edges start with absolutely flat and finely polished blade backs — a fact overlooked by many novice and intermediate hand-tool users. At first glance, it would seem that the sharpening process begins and ends by sharpening and honing the beveled edge. But, there's more to it than that. The back of the tool is equally important, because it's the two intersecting surfaces of the blade back and opposing beveled edge that creates a razor sharp wedge used in cutting or slicing wood. The more carefully you tune that intersection, the sharper and more durable the edge.
In this comprehensive video tutorial, master artisan Craig Vandall Stevens clearly explains how to achieve the flattest of blade backs. For each tool, this process is performed perhaps only once in a lifetime. So why not enjoy it. Pull up a stool, pull out your favorite plane or chisel and polish away. It's 20 minutes of quiet relaxation that will pay dividends for years to come. (11 Minute Woodworking Video)
Note: Craig's sharpening tool of choice – ceramic sharpening stones by Shapton® (or he recommends the King brand of Japanese waterstones).
Japanese Hand Planes: Characteristics and Basic Use
Some might call this type of hand plane exotic, eccentric — even antiquated, but Japanese planes are attracting increasing notice and attention, even in today's world where modern tools and machines offer instant ease and results. The Japanese plane, known as Kanna to the native speaker, appears to be simplicity itself. Historically, this plane was comprised of only two parts, the Dai or body, and the blade. But this apparent simplicity is deceptive because the designing and crafting of each part is a complex and exacting process steeped in history.
Fortunately, using a Japanese plane, at least at a basic level, is far easier than making one. In this video, Japanese tool expert Craig Vandall Stevens introduces us to this interesting, useful, even powerful hand tool. He'll break down the basic construction of the plane and take a closer look at the uniqueness of the Japanese forge welded iron & hardened steel blade. Craig also demonstrates the correct methods — the hand & body positions and the unique pulling motions for enabling maximum success. (6 Minute Woodworking Video)


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Alumni Updates!
Kris Klingler (Class of 2016) is now the Territory Manager for Mabscott Supply in the Charleston, Huntington, Parkersburg area.
Christy Laxton (Class of 2017) was appointed as Vice Chair of the WV Small Business Development Center Advisory Board effective October 1, 2017. She also received her Economic Development Finance Professional Recertification from the National Development Council on December 18, 2017.
Karen Jacobson (Class of 2006) has been serving as the Executive Director of the Randolph County Housing Authority since 2007. In May she was appointed by the Governor to the Board of Directors of the WV Affordable Housing Trust Fund, and now serve as the Chair of the Board. In 2012, she helped to launch a small business lending entity, Woodlands Community Lenders, Inc. which is a certified Community Development Financial Institution (CDFI). In four years, they have lent out $2 million to 70 small businesses in our three-county target area, created 70 jobs, and leveraged another $4 million in financing from local banks. In 2014, she graduated from another leadership course—this one for community development professionals—called Achieving Excellence. The AE program is offered through NeighborWorks America and Harvard University's Kennedy School of Government. She is also still skiing, climbing, hiking and carrying on in the Potomac Highlands.
John Reger (Class of 1994) was appointed to the Boone Memorial Hospital Board of Directors after working with the Hospital as the Project Development Consultant to complete its $39 million replacement hospital. John served as Chairman of the WV SBDC Advisory Board and continue to serve as an Advisory Board Member. He also completed and received re-certification from the Mergers & Acquisition Source as a Certified Business Intermediary.
Flaherty Sensabaugh Bonasso PLLC is pleased to announce that Caleb P. Knight (Class of 2016) has been elected Member. Caleb joined Flaherty in 2010. He focuses his practice on corporate transactions, employment law, health care compliance and trademark law. Caleb has routinely acted as outside general counsel to closely-held businesses, handling business organizational and relationship issues, workforce issues, and commercial transactions. Flaherty serves local, national and international clients in the areas of litigation and transactional law. Founded in 1991, today more than 60 attorneys provide efficient and effective counsel to turn clients' obstacles into opportunities. Visit www.flahertylegal.com to learn more.
Lindsey Keeney (Class of 2017) is now working in her hometown of Ripley, practicing medicine at Ripley Family CaShe is also enjoying time with her son Wade who is seven months old!
Ronald Witt Jr. (Class of 2010) was named a "Habitat Hero" in late 2017. http://westliberty.edu/news/news/alumnus-named-habitat-hero/.
Christopher Ross (Class of 2015) and Angela Vance (Class of 2010) welcomed two future West Virginia leaders this year with the birth of their first children, Henry and Alia, on July 23, 2017. Additionally, Chris was named as a partner at Pullin, Fowler, Flanagan, Brown & Poe in February and Angela completed her 15th year as a lobbyist and did it while carrying twins!
On July 1, 2017, Laura Martin (Class of 2013) was named President of the American Water Charitable Foundation – a 501©3 nonprofit organization established in 2010 to provide a formal way to demonstrate American Water's ongoing commitment to being a good neighbor, citizen, and contributor to the communities where American Water and its employees live, work and operate.
Sven Berg (Class of 2014) has been promoted to CEO at Quality Insights as of November 2017. Congratulations Sven!
Until May 2018, Jill McIntyre (Class of 2012) is serving as President of Defense Trial Counsel of West Virginia, a 500 member association of civil defense attorneys. She is also serving a three-term on the West Virginia State Bar Board of Governors.
Effective with the April 26, 2017 affiliation of Motorists Insurance Group and BrickStreet Insurance, Terri McCormick (Class of 2004) was named the Senior VP, HR for the combined group.
As one of the owners of West Virginia Executive magazine, Kensie Hamilton (Class of 2015) was given a unique opportunity to learn about all aspects of business from the best. This fall, she participated in the Goldman Sachs 10,000 Small Businesses (10KSB) program.
This summer Dr. Michelle Easton (Class of 2011) was appointed by Governor Jim Justice to the West Virginia Medical Cannabis Advisory Board thru June 30, 2021.
Jamie Summerlin (Class of 2013) received The Earl L. Core Award. This award is the Morgantown Chamber's most prestigious award given to an Individual or individuals who display outstanding community service for a minimum of 5 years as a resident of Monongalia County. Congratulations to Jamie Summerlin! http://www.morgantownchamber.org/2018-earl-l-core-award-jamie-summerlin/
LWV would like to honor the memory of Allen Ammons (class of 2015) who passed away on February 19. http://amoscarvelli.com/funerals/obituaries/allen-dwayne-ammons/509/
Mike Cvechko's (Class of 2009) business Cvechko Insurance was honored by Erie Insurance for growth and profitability. Read more from the Cvechko Insurance press release.
Miranda Kessel (Class of 2012) married Stephen Vincent on December 21 in Caratunk, Maine. The couple resides in McHenry, MD. Miranda Kessel is employed by Garrett Regional Medical Center where her marketing work covers health care needs for residents of Maryland and West Virginia.
Ingrid Loy (Class of 2017) was promoted to Director of Marketing for Eagle Manufacturing Company.
Categories: alumni, Alumni News February 7, 2018
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Flying Alone
by Jeff Goin | Jan 23, 2017 | 13: Flying Cross Country, 19: Risk & Safety
It seems innocuous. We find a nice flying site, maybe not easily visible from the road, and launch into the coolness. This is one of powered paragliding's great draws–how easily we can just head off from the most unlikely of sites and be independent. But that independence has a dark side–if something happens, we could wind up being immobilized and unable to get help.
A recent accident saw this horrific possibility play out for a pilot launching at an isolated field for a short flight around his local area. Something went bad on launch and he wound up falling hard, maybe just after getting airborne, and breaking his back and pelvis.
The injury left him unable to move or even get to his cell phone which was in his pocket. He laid there for over 7 hours which caused additional injury (sunburn blisters, dehydration) before being discovered and transported to a hospital where he was operated on and put in intensive care.
This is a terrible possibility that we've talked about for years but frequently don't heed. Now it's happened in about the worst possible way. What a bummer to survive your injuries only to die because you couldn't get simple life-saving administered.
There have been other accidents where the pilot crashed in a remotish area, was immobilized, but there happened to be a passerby who called for help. The one where a pilot pummeled into pavement after experiencing torque twist on launch comes to mind. We've previously thought that having a cell phone with us was sufficient but now we know better. Have the cell phone, but use it to let someone know you're going flying, where, and when to start worrying if you don't call them.
The same applies at fly-ins or any other time you could be absent for a while without anybody being aware.
Alex Varv was a proponent of this for years, always offering to take calls whenever one of us would go flying alone and, sure enough, one day his friend didn't call back. Sadly, that friend had crashed and died but Alex was soon on the hunt. In this case it wouldn't have mattered but, had the pilot been in a tree somewhere, at least people would have been looking for him.
Another great option is satellite based personal locator beacons or messengers, two different creatures described in the sidebar.
We can still enjoy the remarkable freedom of solo paramotoring but should consider the simple benefit of letting someone know we're flying and when we'll be back. They should know to start trying to reach us if they don't hear from us within 30 minutes or so of our estimated return time–kind of a personally administered flight plan.
Satellite Option
These satellite based options give you rescue capability beyond cell phone range. There are two primary types.
Personal Locator Beacons just broadcast your location to no one in particular using a frequency and coding that lets the receiving agency know who you are (if you've registered). The advantage here is that there's no monthly fee.
Satellite messengers like this charge a monthly fee to let you send a SOS that includes your GPS coordinates and other messages indicating your condition can be sent, too.
Use these when you need them, of course, but expect to pay a hefty fee after being rescued. Manpower and machines aren't cheap.


I'm proud to announce that I've just secured a partnership with Silverton Mountain as the first member of their pro rider team! I spent a lot of time there last year working on a couple projects, and it's where the Red Bull Cold Rush was held last year (and again for 2012!) and it's also where I shot a commercial, and a did a photoshoot for Fischer. I fell in love with the place! Whether it be the funky little town, the single chairlift that opens up a world of endless, towering, gnarlypants terrain, or the helicopter hiding in the trees behind the "main lodge" a.k.a. banquet tent/old bus. The place is charming beyond belief and I'm already getting nervous thinking about some of the lines I'm going to ski this year.
Silverton, Colorado — Silverton Mountain is proud to introduce the newest member of the Silverton Mountain professional freeride team: Suz Graham. Not only is Suz one of the top female freeskiers in the world, she also is a highly accomplished BASE jumper. Her aggressive no frills, all thrills style is a perfect match with Silverton Mountain's famously challenging terrain.
During the 2011 Red Bull Cold Rush Event at Silverton Mountain which featured the best skiers in the world, Suz Graham won the 'Big Mountain' portion of the competition. Suz set the tone for the Big Mountain day with an incredibly gutsy line through the Pequenos that finished with a cleanly stomped 20 footer over the cliffs. She was just warming up for the next couple days of the Event where she proceeded to log more air time than an all-night radio DJ. Suz also took the overall win at the Red Bull Cold Rush 2010 Event.
Outside the adventure sports world, Suz is passionate about preventative health and wellness. She holds a Bachelor of Science from the University of Utah in Health Promotion and Education, is a licensed Wilderness-EMT and Yoga Instructor and studies alternative medicine and nutrition in her spare time.
Look to the skies this season at Silverton Mountain, you may just catch Suz Graham throwing one of her signature lofty backflips!
Silverton Mountain Opened for the 2011-12 ski season Dec. 3 with some of the best conditions in Silverton's history with 99 percent of the mountain open and great powder snow. It is always good to brush up on your avalanche skills before heading into the mountains. The Avalanche Level 2 class is being offered at Silverton Mountain Dec. 8-11 for $379. The Level 1 Avalanche class is offered Dec. 16-18, 2011 for $299.
Previous postSeth Morrison is my Hero.


Voicemail is as important as emails and messages on iPhone that it might contain some useful information. It could be the first voice recording you have of your toddler, the sweet words from your loved ones, or important content for legal purposes. However, as we all know, voicemail messages will be deleted automatically from the servers of the phone company after a certain period of time. You can neither save the voicemails on your iPhone nor recover the deleted voicemails.
What can you do if you want to keep those important voicemails? The best way would be to transfer voicemails from iPhone to the computer so that you can save and access the voicemails anytime you like.
iTunes should be the first choice for iOS users to sync data on iPhone/iPad/iPod to Windows computer. It might work well in syncing photos, music, video, but as to transfer voicemail, iTunes is not convenient. When you sync your devices with the iTunes, voicemail is saved to your computer, but they get buried deep within various semi-encrypted databases. Besides, iTunes is a one-way syncing tool, which means that you cannot transfer data from the computer back to iOS devices.
Here we will introduce you a complete freeware for free iPhone data transfer, EaseUS MobiMover Free, the first free iPhone transfer software in the market. It works perfectly to transfer photos from iPhone to PC in bulk. What's more, MobiMover Free is able to transfer your voicemails back and forth from iPhone to PC. Now let's have a look at how to transfer voicemails from iPhone to the computer.
EaseUS MobiMover enables you to transfer more than ten kinds of iPhone files from iPhone to the computer with simple solutions, including photos, contacts, messages, TV shows, movies, music, books, Safari bookmarks, and more. In addition, if you need to transfer files from PC to iPhone without using iTunes anymore, MobiMover is your best choice.
With EaseUS MobiMover Free, you can easily transfer all/multiple voicemails from iPhone to computer. In addition, you can also sync data between iOS devices, such as transferring movies from iPhone to iPhone 8.


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GOD SPEAKS TO YOU
VALUABLE QUOTES
VALUABLE QOUTES
Iran won't allow presence of terrorists near borders
Iranian Foreign Minister Mohammad Javad Zarif has recently warned about the transfer of ISIS remnants to the Nagorno-Karabkh area amid current fighting between Azerbaijan and Armenia, stating that the Islamic Republic of Iran will never tolerate the presence of Takfiri terrorist groups in the vicinity of its borders.
Speaking to the IRIB news agency on Sunday, Zarif remarked that Iran was almost certain about the presence of terrorist elements in the Karabakh battle, stressing that the current situation was not in any side's interest.
"In recent talks and even before, we informed the officials of Azerbaijan and Armenia, as well as those of Russia and Turkey, that the Islamic Republic of Iran will not tolerate such a thing," he said.
"Currently, these terrorists are not present along our borders, but the probability that they will be present at a distance from our frontiers is still high, and we have declared this concern to both sides."
The South Caucasus enclave of Nagorno-Karabakh is globally recognized as being part of Azerbaijan, yet it is populated and controlled by ethnic Armenians.
For years, the two former soviet republics have been locked in a serious conflict over the disputed region. Even though a ceasefire was agreed in 1994, Baku and Yerevan still continue to accuse each other of shooting attacks around the disputed area.
The fresh Karabakh escalation started on September 27. It has been considered as the worst fighting to plague Karabakh since 1992, when Armenians invaded the region and basically forced Azeris into a retreat.
Over 1,000 people, including more than a 100 civilians, have reportedly been killed in the violence.
Unfortunately, a number of stray shells and projectiles have crossed the Iranian border, causing stern warnings from Iran.
Some reports have come out about the deployment of terrorist groups from Syria and Iraq to the conflict zone near the Iranian border.
Elsewhere in his remarks, Zarif sketched Iran's peace plan aimed at putting an end to the Karabakh conflict and bring about the withdrawal of occupying forces from the occupied region.
"We believe that the countries in the region will see the most damage in this war, and [thus] they can have the greatest impact on ending the war in the region," he stated.
Additionally, earlier this week Abbas Araqchi, , Iranian Deputy Foreign Minister for Political Affairs, concluded a tour of Azerbaijan, Russia, Armenia as well as Turkey to promote Tehran's plan for the peaceful resolution of the crisis.
Zarif also stated that Iran was now waiting for those countries to give their opinion on the proposal, which guarantees the people's rights and asks for the establishment of communication channels under the careful supervision of regional states.
Tags: islamic state of iraq and the levant tafkiri terrorist groups border security armenia azerbaijan war
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