DAY ONE – Wednesday, March 24, 2010
8:30 Conference Registration & Continental Breakfast
9:15 Co-Chairs’ Opening Remarks
Laura Foggan
Partner
Wiley Rein LLP
David Greenwald
Partner
Jenner & Block, LLP
9:30 Setting the Stage on Professional Liability: The State of the Professional Liability Marketplace, Litigation Trends, and Beyond
John C. Minett
Vice President & Counsel – Professional Liability Claims Manager
Endurance Services Limited
Timothy Burns
Partner
Perkins Coie LLP
This past year has seen a marked increase in the number of E&O/Professional Liability claims being filed due in large part to the fallout from the financial crisis. In this session, you’ll be immersed in recent trends in professional liability, particularly addressing where it is headed in the months and years to come. Information presented will include the newest trends and developments in the professional liability arena as well as the most difficult issues facing insurance professionals and their respective counsel. The session will explore the latest legislation and case law and what it all means for your client(s) and/or company going forward. With ample time for questions, this session will set the tone for an interactive, insightful two days.
- What type of claims have been in the market and where are they headed?
- How is the continuing hard market effecting E&O policy pricing and claims?
- What has resulted from the credit crisis so far as insurer risks and opportunities are concerned?
- Where are claims and notifications coming from?
- To what extent can underwriters influence the way that FIs address their risk?
- How the Madoff scandal is affecting the E&O landscape now and what to expect in the future
10:45 Morning Coffee Break
11:00 Evaluating the Impact of the Credit Crisis on the E&O Market
Michael J. Sullivan
Attorney
Collins Einhorn Farrell & Ulanoff
Christopher P. Tirro
Vice President – Errors and Omissions
Chartis
William F. Healey
Vice President - AXIS PRO
Axis Insurance
- Analysis of what the credit crisis really means for the U.S. E&O market going forward
- Which industries are particularly at risk and what is the nature of their E&O exposure?
- Types of claims reported to date and what can be expected in the future
- Financial institutions: special considerations and discussion of level of exposure to E&O claims
- How should lessons learned from sub-prime be applied during the renewal process?
- What type of specific information should underwriters look for?
- What can be expected from the insurance market in terms capacity, premium, and wording?
- How is the credit crisis impacting impacting damages and underwriting considerations?
12:00 A Focus on Settlement Negotiations in the Professional Liability Context: Attaining a Favorable Settlement Number for Your Client
Lawrence Fine
SVP/Chief Technical Officer for
Complex D&O/Fiduciary Claims
Chartis
Bonnie Hoffman
Executive Vice President
LVL Claims Services LLC
Walter J. Andrews
Partner
Hunton & Williams
With the increase in the number of claims being filed, comes an increase in the number of settlements. This past year alone, the federal courts saw nearly 450 claims related to the credit crisis. In this session, you will learn key strategies and tactics for negotiating the best settlements for your clients.
- When to fight it out v. when to settle?: Determining when settlement is the best option for your case
- Likelihood of prevailing on a motion to dismiss
- Likelihood of prevailing on summary judgment
- Likelihood of prevailing at trial
- Likelihood of prevailing on appeal
- Presence of criminal or regulatory investigations
- How much is it costing to settle cases?
- Checklist: Pre-settlement considerations:
- When is it the best time to settle?
- Valuing your case
- Preparing your client’s settlement position and balancing your client’s goals with reality
1:15 Networking Luncheon for Delegates and Speakers
2:45 Negotiating Favorable Policy Terms to Prevent Future Litigation
Andrew Weiner
Partner
Dickstein Shapiro LLP
- What is currently being covered by E&O/Professional Liability policies?
- What is covered and what should be covered in every policy?
- Effective techniques for negotiating rescission and severability terms
- Limiting language
- The importance of severability clauses
- Whether severability can be designed to protect insureds from rescission
- Adequacy of protection, as between the insured and broker
- How to adequately provide notice of government investigations
- Defining defense costs
- What is covered?
- Whether government investigations are considered defense costs
- Defining claims: what needs to be included to ensure that no ambiguities will result?
3:45 Afternoon Coffee Break
4:00 How Rescission Impacts E&O Coverage When a Claim Arises
Peter J. Biging
Partner
Lewis Brisbois Bisgaard & Smith LLP
Michael E. Brown
Partner
Kightlinger & Gray, LLP
- How recent court decisions are treating rescission claims?
- When is rescission an option?
- inaccurate financial record
- inaccuracies in the insurance application
- Claims based on failure to disclose
- Complying with notice provisions
- How the duty to defend impacts the handling of claims that are facing rescission
- When does a policy allow for the unilateral right to rescind?
- Determining whether a misrepresentation is material
- Proving/Disproving that the insurer relied on the misrepresentation
- Preserving your right to rescind
- Successfully obtaining a non-waiver agreement
- The underwriter’s duty of inquiry
- Defenses to rescission actions: ratification, waiver, estoppel
5:00 Day One Concludes
DAY TWO – Thursday, March 25, 2010
8:45 Continental Breakfast
9:20 Co-Chairs’ Remarks
9:30 Defending Against Common Policy Exclusions and Examining When the Exclusions Will be Triggered
Mark R. Keenan
Partner
Anderson Kill & Olick, P.C.
- Common triggers for conduct exclusions and how they can be avoided — intentional, dishonest or fraudulent conduct
- Crafting the policy to limit coverage for prior knowledge exclusions
- The “bad acts” exclusion based on improper subprime practices
- Avoiding losses on related claims
- Exclusions in derivative suits
- What exclusions are under discussion or have been removed?
- How policies are treating the meaning of ‘first made’ and what triggers notification
10:35 Morning Coffee Break
10:50 Private Equity, Venture Capital and Hedge Funds – The Risks Facing Them and Industry Responses
Ric Duenaz
Private Equity / Venture Capital Professional Liability Worldwide Manager
Chubb Group
Jeremy S. Salzman
Senior Claims Examiner
Arch Insurance Group
William S. White
Senior Vice President, Partner
Woodruff Sawyer & Co.
Carl E. Metzger
Partner
Goodwin Procter LLP
- Current environment for the alternative funds sector
- Claims issues affecting such funds
- The impact of new and pending legislation of this financial sector
- Underwriting topics and red flags
- Best practices on operational risk management for fund managers in the alternative sector
- Understanding key coverage terms of coverage for funds coverage
12:00 Networking Luncheon for Delegates and Speakers
1:15 Maneuvering Your Way Through Common Privilege Traps
David Greenwald
Partner
Jenner & Block, LLP
Laura Foggan
Partner
Wiley Rein LLP
- Analyzing recent case law and its treatment of privilege
- When does disclosure go too far?
- When is the work product privilege waived?
- Whether sharing internal information with government investigators is considered a waiver of privilege
- What information to share during discovery and investigations and what information to withhold
- What scenarios do not fall into the privilege category?
- How to avoid violating privilege when there is a third party participating in the attorney-client communication
2:45 How Insurers Can Assist Their Clients in the Management of Their Professional Risk
Todd E. Cusano
Senior Underwriting Manager
Darwin National Assurance Company
Robert Irish
Senior Claims Attorney
Monitor Liability Managers, LLC
- Determining where the risk really lies in a variety of different professions
- What questions should be asked of an insured?
- What information is the most important?
- What impediments do insureds face in adopting and maintaining a risk management system?
- What recommendations can you and should you make regarding avoiding certain risks not addressed by your clients risk management system?
3:45 Conference Concludes
Workshop Registration Opens
Conference Details
