8th Annual

D&O Liability Insurance

Everything You Need to Know To Meet the Challenges of the Turbulent D&O Market

Thursday, May 15, 2003

About

The D&O insurance industry is in the throes of one of its most troubled markets in the last 20 years. Liability premiums, which had been climbing even before the Enron scandal, increased dramatically in the past year. The rise in securities class action suits against directors and officers, high-profile bankruptcies such as WorldCom and Global Crossing, the quality of corporate financial statements and accounting practices, and the impact of the Sarbanes-Oxley Act have led to widespread concerns and uncertainty. Premiums are expected to reach unprecedented levels as the market continues to harden.

Given the turbulent D&O market, everyone involved in any way with D&O liability insurance - including insurance executives, underwriters, claims managers, litigators, corporate counsel, brokers, risk managers, and directors and officers themselves - must have a sophisticated and in-depth grasp of the latest developments in the industry and the law in terms of coverage, claims activity, underwriting policy, losses, exposures, legislation, SEC enforcement, settlements, and court decisions.

American Conference Institute's 8th Annual D&O Liability Insurance program has been revised and updated to bring you the very latest information on all of the changes and developments in the D&O liability insurance arena, including how to minimize your risk and exposure in the hard market. This conference once again brought together a distinguished faculty of insurance executives, brokers, senior SEC representatives, and attorneys who provided their perspectives, insights, and expertise on:

  • Key areas of concern for D&O insurers, brokers, and attorneys with regard to Sarbanes-Oxley and its potential impact
  • New SEC enforcement tools under Sarbanes-Oxley
  • The implications of corporate bankruptcy on D&O insurance policies
  • How carriers are beginning to change their coverage positions
  • Damages modeling in securities class action litigation
  • Effective claims handling in mega-settlement scenarios
  • How carriers and brokers can collaborate to reduce process friction
No matter what your role in the D&O liability insurance arena, this comprehensive and information-packed event is one you cannot afford to miss.

Contents & Contributors

About

The D&O insurance industry is in the throes of one of its most troubled markets in the last 20 years. Liability premiums, which had been climbing even before the Enron scandal, increased dramatically in the past year. The rise in securities class action suits against directors and officers, high-profile bankruptcies such as WorldCom and Global Crossing, the quality of corporate financial statements and accounting practices, and the impact of the Sarbanes-Oxley Act have led to widespread concerns and uncertainty. Premiums are expected to reach unprecedented levels as the market continues to harden.

Given the turbulent D&O market, everyone involved in any way with D&O liability insurance - including insurance executives, underwriters, claims managers, litigators, corporate counsel, brokers, risk managers, and directors and officers themselves - must have a sophisticated and in-depth grasp of the latest developments in the industry and the law in terms of coverage, claims activity, underwriting policy, losses, exposures, legislation, SEC enforcement, settlements, and court decisions.

American Conference Institute's 8th Annual D&O Liability Insurance program has been revised and updated to bring you the very latest information on all of the changes and developments in the D&O liability insurance arena, including how to minimize your risk and exposure in the hard market. This conference once again brought together a distinguished faculty of insurance executives, brokers, senior SEC representatives, and attorneys who provided their perspectives, insights, and expertise on:

  • Key areas of concern for D&O insurers, brokers, and attorneys with regard to Sarbanes-Oxley and its potential impact
  • New SEC enforcement tools under Sarbanes-Oxley
  • The implications of corporate bankruptcy on D&O insurance policies
  • How carriers are beginning to change their coverage positions
  • Damages modeling in securities class action litigation
  • Effective claims handling in mega-settlement scenarios
  • How carriers and brokers can collaborate to reduce process friction
No matter what your role in the D&O liability insurance arena, this comprehensive and information-packed event is one you cannot afford to miss.

Contents & Contributors

D&O LIABILITY INSURANCE IN THE WAKE OF SARBANES-OXLEY: WHAT BUSINESS INSUREDS REALLY NEED TO KNOW
Carl E. Metzger, Testa, Hurwitz & Thibeault, LLP
Jennifer L. Chunias, Testa, Hurwitz & Thibeault, LLP
Steven J. Buttacavoli, Testa, Hurwitz & Thibeault, LLP

THE IMPACT OF THE SARBANES-OXLEY ACT OF 2002 ON D&O LIABILITY INSURANCE
Carolyn H. Rosenberg, Sachnoff & Weaver, Ltd.
Duane F. Sigelko, Sachnoff & Weaver, Ltd.
Kit Chaskin, Sachnoff & Weaver, Ltd.
Neil B. Posner, Sachnoff & Weaver, Ltd.
Lainie R. Simon, Sachnoff & Weaver, Ltd.

RECENT SEC ENFORCEMENT CASES
Wayne M. Carlin, Securities and Exchange Commission

DEALING WITH SEC INVESTIGATIONS AND ENFORCEMENT PROCEEDINGS IN AN INCREASEINGLY HOSTILE ENVIRONMENT
Robert P. Varian, Clifford Chance US LLP
Leah Nutting, Clifford Chance US LLP
Johanna Calabria, Clifford Chance US LLP
Ken Herzinger, Clifford Chance US LLP
Gerald Audant, Clifford Chance US LLP

DIRECTORS AND OFFICERS INSURANCE POLICIES IN BANKRUPTCY: UNSETTLED QUESTIONS IN AN UNSETTLED ECONOMY
Paul A. Ferrillo, Weil, Gotshal & Manges LLP
Virginia H. Johnson, Weil, Gotshal & Manges LLP

D&O INSURANCE ISSUES IN BANKRUPTCY
Daniel J. Standish, Wiley, Rein & Fielding, LLP

MEMBERS OF THE BOARD – WILL YOUR D&O POLICY DEFEND YOU IN BANKRUPTCY?
Peter Szendro, Converium (Reprinted with the permission of PLUS)

RESCINDING THE D&O POLICY
Daniel Aronowitz, Ross, Dixon & Bell, LLP

CURRENT ISSUES IN DIRECTORS AND OFFICERS LIABILITY INSURANCE
William G. Passannante, Anderson, Kill & Olick, PC

THE AUTHORITY OF FEDERAL COURTS TO CONTROL SHAREHOLDER LITIGATION UNDER THE PSLRA AND SLUSA
John J. Clarke, Jr., Davis, Polk & Wardwell

THE EFFECTS OF PSLRA AND SUBSEQUENT EVENTS ON SECURITIES LITIGATION
Frederick C. Dunbar, National Economic Research Associates
Todd S. Foster, National Economic Research Associates
Adam D. Werner, National Economic Research Associates

SECURITIES REFORM BEFORE AND AFTER ENRON
Mark C. Gardy, Abbey Gardy, LLP

D&O SETTLEMENTS: THE LATEST TRENDS…AND STRATEGIES FOR GETTING THE RESULTS YOU WANT
Theodore A. Boundas, Boundas, Skarzynski, Walsh & Black, LLC

THE D&O INDUSTRY IN 2003: INSURING THE RISKS OF BEING A DIRECTOR
William A. Cotter, National Union -- AIG

OPERATIONAL CONTROL, CORPORATE GOVERNANCE, AND BUSINESS PRACTICES: IMPLICATIONS FOR DIRECTORS AND OFFICERS LIABILITY INSURANCE
Christopher Duca, Navigators Pro


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