Bill Goddard wrote an article, "Connecticut Offers More Options for Insurers Exiting Lines of Business," for Business Insurance. The article discusses the new Connecticut law which allows domestic insurers to divide into two or more insurers. Public Act 17-2, An Act Authorizing Domestic Insurers to Divide, establishes an entirely new procedure, effectively a demerger, which creates multiple distinct legal successors to the originating insurer. Goddard writes, "The act is modeled after similar statutes in Pennsylvania and Arizona. However, statutes in the other states apply to general corporate matters, whereas the new Connecticut law is dedicated to insurance." When these transactions are proposed, it will be up to the courts to weigh-in if there are objectors, Goddard adds. "But for now, a powerful new tool for corporate efficiency may be added to the insurance tool kit."
On March 8, Bill Goddard will be speaking on "Lessons Learned from ERM, ORSA and Corporate Governance: Identifying and Remedying Weaknesses in Your Company's Risk and Capital Frameworks" at the 14th National Forum on Insurance Regulation, a conference presented by the American Conference Institute (ACI) to be held in New York.
On February 9, Bill Goddard will be speaking on a panel, titled "You've Got to Come Back with Me to The Future: An Ethics Discussion," at the 2018 International Association of Insurance Receivers (IAIR) Insurance Resolution Workshop to be held in Scottsdale, Arizona.
Day Pitney Alert
Steven Cash, David Doot and James Blackburn authored an article, "The Industrial Internet of Things: The Railway Law Revolution of Our Time," for Bloomberg BNA's Privacy and Security Law Report.
Joe Scully was a featured panelist in a discussion, "Defense Counsel, In-House Counsel, and the Many Carriers: Ethical Concerns About the Ultimate Privilege," at the Northeast Regional Claims Conference in Hartford on November 2.
Eric Fader was quoted in an article, "Patient Privacy Concerns May Complicate Amazon Health-Care Initiative," published in Bloomberg BNA's Health IT Law & Industry Report.
Day Pitney and the National Governors Association (NGA) hosted an invitation-only forum, held at the Downtown Harvard Club of Boston, that brought together lawyers, policymakers, cybersecurity experts and other participants to identify and discuss legal issues related to the growing Industrial Internet of Things (IIoT).
Bill Goddard was quoted in an article, "In Model Law Draft, HMOs Would Contribute Funds for Long-Term Care Insolvencies," published in S&P Global Market Intelligence.
Jay Mussman was quoted in an article, "Advisors Have Key Role to Play in Hurricane Aftermath," published in InsuranceNewsNet.com.
Day Pitney Press Release