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."
Bill Goddard will be having a one-on-one dialogue with New York Department of Financial Services Special Deputy Superintendent and head of the New York Liquidation Bureau, David Axinn, about current insurance receivership issues in New York and elsewhere at the International Association of Insurance Receivers (IAIR) and Association of Insurance & Reinsurance Run-Off Companies (AIRROC) Joint Issues Forum in New York, NY on Saturday, August 3.
Bill Goddard will be speaking on "Restructuring Mechanisms" at the Eighth Annual Symposium on Insurance Regulation, presented by the Financial Examiners Educational Foundation (FEEF) and held in New York, NY on Friday August 2.
Day Pitney Alert
Bill Goddard will moderate a panel, entitled "Liability & Regulatory Issues in Cybersecurity," at the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA) 27th Annual Legal Seminar in Boston, MA.
Elizabeth Retersdorf authored an article, "Copyright Registration Ruling Creates Insurance Risks," for Law360.
Day Pitney LLP's representation of HDI Global Insurance Co. (HDI) was noted in an article, "1st Circ. Brushes Off Dental Co.'s Insurance Claim For TM Suit," published by Law360.
David Doot, Steven Cash and James Blackburn, IV authored an article, "Risk and Opportunity with the Industrial Internet of Things," which was published in the July-August 2019 issue of The Journal of Robotics, Artificial Intelligence & Law.
Day Pitney Press Release
Day Pitney partner Chase Rogers, former Chief Justice of the Connecticut Supreme Court, was featured in an article, "Retired Judges Establish Fund To Provide Lawyers For Immigrant Families," published by the Hartford Courant.
Chase T. Rogers, former Chief Justice of the Connecticut Supreme Court, was recognized by the Connecticut Council on Freedom of Information (CCFOI) for bringing greater openness to the state's court system.