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INTERNATIONAL d&o EVOLVING RISKS, EXPOSURES & COVERAGES

INTERNATIONAL d&o EVOLVING RISKS, EXPOSURES & COVERAGES. INTERNATIONAL D&O: EVOLVING RISKS, EXPOSURES, AND COVERAGES. MODERATOR: David K. Bradford , President, Research & Editorial Group, Advisen Ltd. PANELISTS:

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INTERNATIONAL d&o EVOLVING RISKS, EXPOSURES & COVERAGES

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  1. INTERNATIONAL d&oEVOLVING RISKS, EXPOSURES & COVERAGES

  2. INTERNATIONAL D&O: EVOLVING RISKS, EXPOSURES, AND COVERAGES MODERATOR: David K. Bradford, President, Research & Editorial Group, Advisen Ltd. PANELISTS: Perry S. Granof, Esq., Managing Director, Granof International Group LLC Ann Longmore, MBA, MA, JD, Executive Vice President, D&O, Fiduciary, and EPL Product Leader, Willis Executive Risks Practice, North America Christopher G. Magee, Managing Director, Hartford Financial Products International Ltd. Edward Smerdon, Esq., Partner, Sedgwick Detert Moran & Arnold, LLP David B. Williams, Vice President, Chubb Specialty Insurance

  3. Agenda • Current International D&O Market and Landscape • Claims Drivers and Implications of Non-U.S. D&O Litigation • Global Regulations and Criminal Redress: Jurisdictions to Watch • Non-U.S. Civil Litigation: Landmark Cases & Key Jurisdictions • Global Policy Structure: Client Concerns • Around-The-Corner Issues & Conclusions • Questions & Answers

  4. International D&O Market • Relative Size of International D&O Market • Rapid Growth • Drivers of Growth? • Is U.S. Most ‘Mature’ D&O Market? • D&O Claims Driven by Local Conditions?

  5. Global D&O Litigation: Claims Drivers & Implications • Corporate Governance standards • Access to legal remedies & collective action schemes • Litigation funding • Effects of the Morrison v NAB ruling? • Insured vs. Insured exclusion outside the U.S.? • Regulatory actions • Insolvency • Small/Medium Enterprise (SME)

  6. Global Regulation & Criminal Redress:Jurisdictions To Watch • UK Bribery Act • U.S. Foreign Corrupt Practices Act (FCPA) • UK Corporate Manslaughter Act • Solvency II

  7. Non-US Civil Litigation:Landmark Cases & Key Jurisdictions • Post-Morrison v NAB claims environment • Have more favorable shareholder jurisdictions emerged? • Latest cases redefining the litigation landscape

  8. Global Policy Structure:Client Concerns DIC/DIL Product Availability Selecting Limits Billing Tax • Parent Company policy structure Coverage grants Terms and conditions including deductible Degree of confidence that global policy will respond Difference in Conditions & Limits Language • Local Policy compliance concerns • Are policies required by law? Scope of local policy coverage Local language contracts aligned with local legal structure Unique features need to be reviewed • Coordinated with the Parent Company policy What is the local claims environment? Keep in mind that nature and size of the local exposure Aggregation may not be allowed and limits erosion may be an issue • Central management can be a challenge Quotation & binding Specific country collection and payment requirements Exchange rate issues Decentralized purchase approach? • Premium, Transfer Payment & Loss Allocation methodology is a requirement Freedom of Service Process License only approach Varied perspectives Tax Authorities are active 9

  9. Around-The-Corner Issues & Conclusions • D&O insured buying patterns? Higher limits? A-DIC? ODL? • Multinational buyers: Global program or local policies? • Emerging exposures that concern underwriters?

  10. Questions & Answers Questions & Answers

  11. Many Thanks To … • David Bradford • Perry Granof • Ann Longmore • Christopher Magee • Edward Smerdon • David Williams • Randy Hein (panel liaison for PLUS)

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