A privately sponsored trip to speak to audiences in both Beijing and Shanghai about risk selection within the life and living benefit context with the side benefit of meeting some truly bright minds. The partner for the trip was the world renowned Bill Rabel of insurance education fame and someone who is really smart but also very practical. After giving a lecture on underwriting 101, I had to then turn it up a notch by doing what to the audience would be an advanced underwriting course. The audience was made up of predominantly academics (MA and PhD students studying accounting, actuarial or management skills) with lots of theoretical knowledge but a dearth of practical experience. All went well until, in both locations, I was asked if all reinsurers were corrupt! They had access to the internet and had been studying some of the recent NA fiascos with treaties and “financial reinsurance”, those cleverly constructed deals that are harder to unravel than modern plastic packaging.