Business Organization Finance & Banking Insurance

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

First Circuit Orders AIG To Advance Defense Costs In FDIC Suit Because Of “Likelihood Of A Remote Possibility Of Coverage”

On March 31, 2014, the First Circuit reaffirmed the breadth of an insurer’s duty to defend. In W Holding Co., Inc. v. AIG Ins. Co.-Puerto Rico, No. 12–2008, 2014 WL 1280246 (1st Cir. Mar. 31, 2014), the appellate court ruled...more

Must-Know D&O: Lessons from FDIC Guidance and Case Law on D&O Insurance

The Federal Deposit Insurance Corporation (FDIC) recently warned financial institutions that it has observed an increase in exclusionary terms contained in the director and officer (D&O) insurance policies of depository...more

Death of the Salaried Partner? Wide Ranging Changes to LLP Member Taxation To Come Into Force on 6 April 2014

Wide ranging changes to the way in which LLP members are taxed are due to take effect on 6 April 2014. LLPs and their members, particularly those in professional service and private equity/fund management firms, should,...more

Regulators’ New Focus On Director And Officer Liability Insurance; Other Considerations

The Federal Deposit Insurance Corporation (the “FDIC”) issued an advisory statement on October 10, 2013, titled “Director and Officer Liability Insurance – Policies, Exclusions, and Indemnification for Civil Money...more

Private Equity Investors Demand More: More Insurance, That Is

As in years past, investors continue to pressure fund general partners for greater transparency, enhanced governance and more performance-based compensation structures. However, they are now also making demands in what would...more

FDIC Bars Financial Institutions from Purchasing Insurance Coverage for Civil Monetary Penalties for Directors and Officers: FDIC...

We recently notified you of the FDIC’s Financial Institution Letter 47-2013 , which urges directors and officers of financial institutions to examine their institutions’ directors and officers (D&O) insurance coverage to...more

FDIC Warns of Reduced Insurance Coverage for Directors and Officers of Financial Institutions

On October 10, the FDIC issued Financial Institution Letter 47-2013, urging directors and officers (D&O) of financial institutions to examine their institutions’ D&O insurance coverage to ensure adequate protection for...more

FDIC Cautions Financial Institutions About D&O Insurance Coverage

On October 10, the FDIC released Financial Institution Letter FIL-47-2013 to caution financial institutions about an increase in exclusionary terms or provisions in director and officer (D&O) liability insurance policies...more

FDIC Issues Guidance Regarding Exclusions from, and Limits on Indemnification for CMPs under, Director and Officer Liability...

The FDIC issued a financial institution letter (“FIL-47-2013”) concerning exclusions from, and limits on indemnification for civil money penalties (“CMPs”) under, banks’ director and officer liability insurance policies ...more

Report Indicates Record Pace For FDIC Suits Against Directors And Officers

On September 16, an economic and financial analysis and consulting firm issued a report that indicates the FDIC already has filed more suits against bank directors and officers in 2013 than it has in any year since the start...more

Clarification of section 601AG of the Corporations Act 2001 (Cth) for claims made policies

On 10 September 2013, in Sciacca v Langshaw Valuations Pty Ltd [2013] NSWSC 1285, the Supreme Court of New South Wales held that, in relation to claims made policies, the threshold test of section 601AG of the Corporations...more

Legal Alert: New York Adopts Holding Company Act Amendments

On July 31, 2013, Governor Cuomo signed into law New York Assembly Bill 7807A, which adopts key changes to the regulation of insurance holding company systems in New York under Article 15 of the New York Insurance Law and the...more

Financial Stability Board Designates Nine Global Insurance Groups as "Global Systemically Important Insurers"

The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as Global Systemically Important Insurers (G-SIIs), three from the United...more

Provisions of Affordable Care Act Could Impact Tax-Exempt Status of Certain Bonds

Certain payment models created under the Patient Protection and Affordable Care Act intended to coordinate care and lower healthcare costs raise questions concerning the tax-exempt status of debt issued by certain healthcare...more

Maryland Enacts Revisions to Insurance Acquisitions Disclosure and Control Act

With the 2013 Maryland General Assembly’s passage of House Bill 431, Maryland became the 16th state to enact new and revised standards and reporting requirements for insurers and their parents/affiliates that are part of an...more

Capital Infusion - May 2013: Policy Spotlight: Affordable Care Act

EMPLOYER RESPONSIBILITIES UNDER THE AFFORDABLE CARE ACT AND THE IMPACT on PRIVATE INVESTMENT FUNDS - Implementation of the Affordable Care Act (“ACA”) continues at an accelerated pace. Some of its most important...more

New York Court Rules that Professional Services Exclusion Bars Coverage for Underlying Actions Brought By FINRA and Private...

In David Lerner Associates, Inc. v. Philadelphia Indemnity Insurance Company, 2013 WL 1277882 (E.D.N.Y. Mar. 29, 2013), the United States District Court for the Eastern District of New York affirmed the plain meaning of the...more

Cayman creates incorporated cell companies

On March 25, 2013, the Cayman Islands Legislative Assembly passed an amendment to the Insurance Law (the Amendment) permitting certain insurers formed as segregated portfolio companies (SPCs) to register portfolio insurance...more

As Clear as Mud! The Investment Diversification Rules for Private Placement Insurance Products

A. Overview - The investment diversification rules are a critical element in planning for private placement insurance products. One of the underlying marketing premises for the attractiveness of private placement...more

Panning for Gold in the Ivory Tower – Using Split Dollar and Private Placement Life Insurance to Compensate Senior Executives of...

Overview - Charitable organizations from hospitals to universities have a difficult time attracting and retaining top executive talent from the world of public corporations. Public corporations provide competitive...more

BMA Announces Principles Underpinning Use of New Powers

The Bermuda Monetary Authority (the BMA) has published a new statement of practice (SoP). It sets out factors to which it will have regard and procedures to be followed in deciding whether and in what manner to exercise...more

GPL Insurance for Private Equity Firms – What Questions To Ask

Many private equity firms are concerned about their liabilities, including exposure to lawsuits for breach of fiduciary duty, claims for wrongful acts or omissions, and regulatory or securities investigations. One of the best...more

Time's Up: Why You Can No Longer Afford to Ignore ACOs

Of the healthcare recommendations announced by the Wall Street Journal’s CEO Council last month, ACOs address all four. First of all, the ACO is clearly a new delivery model that uses the “full continuum of care givers.” ...more

Levick Weekly: Social Media in the Boardroom - Critical Questions Directors Need to Ask

In This Issue: - The 100 Most Influential People In the Boardroom - Social Media & The Boardroom: Critical Questions Directors Need To Ask - Michael Volkov on Whistleblowers - What's Next? The Top Issues of...more

Rappelling Down the Fiscal Cliff – Strategies for Cushioning the Fall – Part I

Ready, set, go! Following the Presidential election last night, the race is on for year-end tax planning and bracing for the fall off the fiscal cliff. While no one can tell exactly what the tax outcome will be after...more

61 Results
|
View per page
Page: of 3

Follow Business Organization Updates on: