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2010 PLUS International Conference
D&O Goes Global:Underwriting Insolvencies& Regulatory Exposures
2010 PLUS International Conference
The Round-Up…
MODERATOR:• Eugene “Tripp” Sheehan, Managing Director, FINPRO, Marsh
USA, Inc.
PANELISTS:• Kemsley Brennan, Solicitor, Colin Biggers & Paisley• Lisa Butera, Vice President, Commercial D&O and Crime,
Chartis Insurance• Perry S. Granof, Esq., Managing Director, Granof International
Group, LLC and Of Counsel, Williams Kastner• Keith Thomas, Chief Underwriting Officer Global Corporate
Financial Lines, Zurich
2010 PLUS International Conference
What’s On Tap…
• Regulatory and Legal Trends
• D&O Issues Associated with Insolvencies
• Key Risk Factors in Underwriting Global D&O
• Unique D&O Contract Issues
2010 PLUS International Conference
General Overview
• Sources of claims and nature of litigation
• Credit crisis driven trends
• Mature and emerging jurisdictions
2010 PLUS International Conference
Regulatory and Legal Trends
• Some Notable Legislative and/or Regulatory Developments: England (Companies Act 2006 & Bribery Act 2010)
China (2006 PRC Company Law)
India (Companies Bill 2009)
Italy (Consumer Code - Article 140-bis 2010)
Brazil
2010 PLUS International Conference
D&O Issues Associated with Insolvencies
• Director Liability Associated with InsolvenciesSome Notable Examples: Netherlands (Ceteco N.V.) France (Nasa Electronique) Canada (Oppression Remedy) Germany (Section 15A of the German
Insolvency Code) Australia (Section 588G of the Corporations Act
of 2001)
2010 PLUS International Conference
Unique D&O Contract Issues
• Notable Coverage Issues and their Impact on D&O Insurance: Insured vs. Insured Investigation Costs Indemnification Tax Liability Licensing Issues (Admitted vs. Non-Admitted
Companies)
2010 PLUS International Conference
Key Risk Factors in Underwriting Global D&O
Key Factors: Financial Risk Operational Risk Growth Strategies/Mergers & Acquisitions Corporate Governance Local regulations impacting D&O liability (e.g.
EPL, Worker Health & Safety, Unfair Competition, Environmental, Anti-Bribery, Criminal Matters, Securities Laws)
2010 PLUS International Conference
Questions&
Answers
2010 PLUS International Conference
Many Thanks To…
• Eugene “Tripp” Sheehan
• Kemsley Brennan
• Lisa Butera
• Perry S. Granof
• Keith Thomas