International D&O – Evolving Risks, Exposures, and Coverages

In this clip from the 2011 PLUS International Conference educational session entitled “International D&O: Evolving Risks, Exposures, and Coverages,” Ann Longmore from Willis Executive Risks Practice looks at the differences in bringing claims overseas. Other panelists at this session were: Perry S. Granof (Granof International Group); Christopher G. Magee (Hartford Financial Products); Edward G Smerdon (Sedgwick Detert Moran & Arnold LLP); and David B. Williams (Chubb Specialty Insurance). The panel was moderated by David Bradford (Advisen).

Also, don’t miss Ms. Longmore on the panel “Foreign Exposures to US Companies” at the 2012 D&O Symposium, February 8 and 9 in New York City.

PLUS members can view this entire educational session by visiting www.plusweb.org/education/multimedia. You must be a member and logged-in to the website to view the multimedia content.

Court Revives New Haven Firefighter’s Lawsuit

From the New York Times:

A federal appeals court in New York has revived a lawsuit brought by a black Connecticut firefighter who claims he unjustly lost a promotion in a 2003 exam that became the subject of a ruling by the United States Supreme Court.

The appeals court, the United States Court of Appeals for the Second Circuit, has sent the case back to a lower-court judge.

That judge initially dismissed it, apparently believing that the Supreme Court ruling had prevented the firefighter, Michael Briscoe, from suing. The appeals court disagreed.  In the earlier case, 17 white firefighters and one Hispanic firefighter sued the City of New Haven. The city had failed to certify results of an exam in which white candidates outperformed minority candidates. The results were certified after the Supreme Court ruled.

New Rules Offer Big Cash Rewards to Whistleblowers

In an article from Yahoo! Finance, new rules adopted by federal regulators on Wednesday could result in large cash awards to those whistleblowers who report corporate fraud.  From the article:

Tipsters would be eligible if they give the Securities and Exchange Commission information that leads to an enforcement action resulting in more than $1 million in penalties. The SEC would pay up to 30 percent of the money it recovers from a company or person.

The new rules would seek to discourage employees from bypassing their companies’ compliance programs. Once employees report potential wrongdoing to their company, the SEC would officially designate them as whistleblowers, potentially eligible for awards — provided they give the SEC the same information within 120 days.

In addition, the SEC will credit whistleblowers whose companies pass their information to the agency, even if the whistleblowers themselves do not. That way, whistleblowers could receive awards by reporting wrongdoing internally to their companies.

You can read the full article here on the Yahoo! Finance website.