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During a candid discussion about his role as the federal government’s compensation czar, keynote speaker Kenneth Feinberg described his role in setting executive compensation for institutions that received substantial TARP funds. Though Mr. Feinberg agrees that, to an extent, his work is a “sideshow,” he made a compelling case that the true impact of his work has less to do with the companies that are subject to his mandate and more to do with those entities that voluntarily adopt his approach to executive compensation. 

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Read More PLUS D&O Symposium Day 2: Luncheon Speaker Kenneth Feinberg

This session’s panel began by discussing the role of brokers and the rising use of external legal consultants by insureds.  Panel members mostly agreed that the added use of these legal consultants, so long as the relationships among the all parties involved are managed correctly, are beneficial to ensure that insureds maximize their coverage. …
Read More PLUS D&O Symposium Day 2: Morning Session II

President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company.  The Proposed 2011 Budget projects that this disallowance would result in tax receipts of $22 million in 2011, and totaling $223 million over the next five years. 

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Read More Obama Proposes Budget That Would End Foreign Reinsurer Tax Advantages