Mr Weiss said the expectation this year was that the delegate numbers would hit close to 800 and while the Deepwater Horizon loss had grabbed much of the attention there were other issues for the market in terms of both the marine and energy sector and the industry as a whole.

“In the run up to the event the majority of e-mails and communication I have received has revolved around the deepwater Horizon loss and the ongoing moratorium on deepwater drilling in the Gulf of Mexico,” he said. “It has had a significant effect in the insurance issues around the Gulf of Mexico and we have two items on the seminar program which will address the issues which have at present emerged. Gordon McBurney will look at the issues surrounding system risk in the light of the Deepwater loss and Bill Arnold will also examine some of the  issues which have and will arise from the Macondo blowout.

“But it is still too early for any real indication or analysis of the long term effects of the loss on the market so while we will debate some of the current concerns it will not be the dominant topic for the event.”

Instead Mr Weiss said the event would look at the wider picture.

“The insurance market is in a state of transition,” he explained. “We will hear from Stephen Catlin on the issues facing the global insurance market and from George Hutchings and Jerry Rivers on the OIL Group on Monday. Tuesday we will hear of the challenges that the global P&I Clubs face from Joe Hughes. It highlights the fact that across the industry there are challenges that need to be address and changes which need to be managed.

“The financial crisis and the concerns over what will be the next major loss have created a new set of issues.”

One of the biggest  added Mr Weiss is the sheer scale of the exposures the industry is being asked assume.

“The Deepwater Horizon loss has been estimated at around $30 billion and it is viewed as a major sized loss,” he explained. “But as we will hear the size and scale of the potential losses we will see in the future are changing and the $100 billion loss in the future is not inconceivable.”

Mr Weiss said he was delighted to welcome delegates to the newly refurbished Westin Galleria Hotel which will once again host the event following a year of renovations after the damage caused by Hurricane Ike in 2008.

“The Hotel and the facilities have been completely refurbished and we will benefit from some first class facilities,” he added. “We are expecting to welcome between 750 and 800 delegates this year and it promises to be a very successful event.”

The seminar will also be attended by 30 students and two new colleges reaffirming the seminar’s links with the region’s educational establishments and the ongoing efforts to attract talented young people to choose a career in insurance.

“We are delighted to have Rice and Houston University - Downtown at this year’s seminar along with our long standing colleges and educational establishments,” he added. “I am a qualified marine surveyor and the marine surveying sector along with the insurance sector has a lot of grey hair in it. We need to do everything we can to encourage young people to make a career in our industry.”

He added: “I welcome all the delegates to Houston and I hope they can play their part in making this a successful and informative event.”