Some of the world?s top insurance executives are lined up to speak to the sector?s most pressing issues at February?s biennial World Insurance Forum.

The 2006 Forum, taking place on February 22 and 23 at the Fairmont Southampton, has been designed to allow frank discussion, and some reflection, after one of the sector?s most tumultuous years, organisers said.

The insurance industry has faced any number of hurdles in the last year, from broad regulatory scrutiny led by New York Attorney General Eliot Spitzer to the most expensive run of losses ever from record hurricane activity in the US, compounded by costly catastrophes elsewhere.

Mr. Spitzer led scrutiny of how insurers compensate the brokers that place business to the suspected mis-accounting of finite risk, or loss mitigation, contracts to insurers using offshore affiliates to hide losses.

Mr. Spitzer was invited to take part in the 2006 World Insurance Forum but declined because of campaign commitments as his bid to become New York?s next Governor heats up.

Some of those who are confirmed to take part in the pivotal industry event include insurance executives who have recently risen to the top of under-fire companies, like commercial insurance giant American International Group Inc., and brokerage Marsh Inc. Both companies were at the centre of the investigations led by Mr. Spitzer.

The Forum is scheduled to begin with a chief executive panel speaking on a range of issues that keep insurance executives awake at night. These include where the industry is now, pressures to perform, how to maintain disciplined pricing, return on equity and capital management.

Due to sit on the leadership panel, which is being moderated, as in years past, by Axis chairman and industry veteran Michael Butt, are Lloyd?s chairman Lord Peter Levene, Munich Re chief executive Dr. Nikolaus VonBomhard, Marsh Inc. chairman and chief executive Brian Storms and AIG president and chief executive Martin Sullivan.

Mr. Sullivan replaced ousted AIG chief Maurice (Hank) Greenberg while Mr. Storms took on the helm of Marsh Inc. from Michael Cherkasky, who replaced Jeffrey Greenberg, who has not been charged with any wrong, when he was forced out as head of Marsh & McLennan companies amid Mr. Spitzer?s probes of the broker reaching illegal bid rigging agreements with insurance clients.

Both Greenbergs, father and son, continue to be involved in the insurance sector, through investment companies that own or invest in the industry.

Another panel will present the regulator?s view, including Bermuda?s role in the changing world, and standardisation of insurance supervision.

The panel will be moderated by Brad Kading, executive director of the Association of Bermuda Insurers and Reinsurers, and panellists are: Jeremy Cox, Bermuda?s Supervisor of Insurance, Dave Strachan, an insurance regulator from the UK Financial Services Authority, Tom Carp, chair of the IAS Technical Committee for the Australian Prudential Regulatory Authority, and Howard Mills, Superintendent of Insurance for the New York State Insurance Department. Mr. Mills and Mr. Spitzer brought a civil action against AIG and two former executives, including Mr. Greenberg, in May.

The Regulator?s View panel will also include participation by Steven Dreyer, managing director of corporate governance and ratings at Standard&Poor?s, and Yoshi Kawai, the executive director of the IAIS in Basel, Switzerland.

Another WIF panel is to be led by XL chief executive Brian O?Hara, to present the market?s view on various areas.

Participants will be senior insurance executives, possibly including some executives from the wave of new insurance companies currently forming on the Island to take advantage of a post-Katrina rise in premium rates.

In past years the event has included a trade show and a round of networking parties. But chairman of the WIF operating committee Robin Spencer-Arscott and fellow organiser Suzie Pewter said the 2006 event is going to be different.

?We have made it all business. There is no trade show, no fluff socials,? in keeping with what the industry has asked for, Mrs. Pewter said. There will be an invitation-only dinner at an undisclosed location for the most senior executives attending the Forum.

Further details of the Forum?s programme will be released closer to the event.