Finance & Banking, Business Organization, Insurance

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

by Adam Connatser, Jon Finger, Rani Hauth Guerra, J. Atwood Jeter, David McLean | Patton Boggs LLP on 5/10/2013

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...

by Eryk Gettell | Sedgwick LLP on 4/12/2013

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

by Wendy Lee | Harney Westwood & Riegels on 4/10/2013

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

by Gerald Nowotny on 3/25/2013

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...

by Gerald Nowotny on 2/8/2013

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

by Mark Chudleigh, Nick Miles | Sedgwick LLP on 1/25/2013

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

by Elizabeth G. Kurpis, Heidi A. Lawson | Mintz Levin - Corporate & Securities on 12/12/2012

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

by Matthew Chayt | Nossaman LLP on 12/11/2012

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

by LEVICK on 12/5/2012

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

by Gerald Nowotny on 11/9/2012

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

Rethinking COLI and BOLI – Part 1 - Using a Private Placement Variable Immediate Annuities as a Funding Vehicle for Corporate...

by Gerald Nowotny on 11/2/2012

Corporate owned life insurance assets (COLI) and Bank owned life insurance (BOLI) assets may account for close to $1 trillion or more of life insurance company assets. Virtually every major public corporation uses COLI. Why?...more

The FCPA and Insurance Coverage: Five Strategies for Protecting Against the Financial Costs of an FCPA Claim

by Gilbert LLP on 10/29/2012

In an era of high profile Wall Street prosecutions and shareholder derivative suits, the phrase “Foreign Corruption Practices Act” (“FCPA”) surely should have corporate officers and executives deeply concerned and vigilant....more

Reducing Cyber Risk

by Peter Bauman - Senior Associate at Tharpe &... on 10/19/2012

The European perspective on managing cyber risk is valuable for US companies operating internationally and also as risk management guidance when operating in the US. Recently, an arm of the UK Government Communication...more

Protecting Your Bottom Line from the Cost of National Association of Securities Dealers and FINRA Investigations

by Gilbert LLP on 9/28/2012

When self-regulatory organizations (“SRO”), such as the Financial Industry Regulatory Authority (“FINRA”), commence an investigation or proceeding, member firms are typically concerned with the financial impact that both the...more

Seventh Circuit Compels Coverage Under D&O Policy Despite “Insured vs. Insured” Exclusion

by BuckleySandler LLP on 7/11/2012

On June 29, the U.S. Court of Appeals for the Seventh Circuit directed a D&O insurance provider to cover certain claims against defendants insured under the same policy as some plaintiffs despite an “insured vs. insured”...more

Public Companies Must Disclose Cyber-Liability Risks - Perspectives on Insurance Recovery Newsletter - Summer 2012

by Pillsbury Winthrop Shaw Pittman LLP on 6/23/2012

If you thought you did not need cyber insurance before, Uncle Sam may cause you to think otherwise. On October 13, 2011, the Securities and Exchange Commission (SEC) Division of Corporation Finance issued guidance on...more

District Court Refuses To Apply Business Judgment Rule To Claims Against Officers

by Allen Matkins Leck Gamble Mallory & Natsis... on 6/21/2012

Since 2008, a total of 38 banks have failed in California (See this list of failed banks). When this happens, the Federal Deposit Insurance Corporation acts as receiver for the bank. Since the FDIC is also an insurer of the...more

Can D&O Insurance Cover Banks Anymore?

by Sedgwick LLP on 6/12/2012

Last week, Democratic Rep. Barney Frank of Massachusetts introduced H.R. 5860. This new bill, titled the “Executive Compensation Clawback Full Enforcement Act,” seeks to prohibit insurance coverage for regulatory clawbacks...more

JOBS Act Has Implications for Private Company D&O Liability Insurance

by Wilson Sonsini Goodrich & Rosati on 6/4/2012

On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (commonly referred to as the "JOBS Act"), which was designed to promote job creation by small companies and start-ups through the...more

Orderly Liquidation Authority: FDIC Announces Its Strategy

by Morrison & Foerster LLP on 5/17/2012

In a speech last Thursday, May 10, 2012, the Acting Chairman of the Federal Deposit Insurance Corporation (“FDIC”), Martin J. Gruenberg, outlined the agency’s strategy for the Orderly Liquidation Authority (“OLA”). On its...more

The Corporate Counselor -- Volume 27, Number 1, May 2012: Guidelines for Maximizing D&O Insurance Coverage For SEC Matters

by Bradley Arant Boult Cummings LLP on 5/1/2012

Originally published in the May 2012 edition of the Law Journal Newsletters 2012, ALM Media Properties, LLC. Most corporate counsel know that their D&O insurance may advance or reimburse defense costs, and settlements...more

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Finance & Banking › Business Organization › Insurance