Malaysian Air Tragedy Prompts a Reminder of U.S. Sanctions

Posted by on July 21, 2014 | Be the First to Comment

Recently, the tragic event regarding Malaysian Airlines Flight 17 in the Ukraine spurred a reminder about the recent sanctions the U.S. has released against Russia due to continued conflict in the region. These are in addition to sanctions that were already in place; these do not replace or amend prior sanctions. While not everyone may be aware of these new sanctions, they may be affected.

The sanctions prohibit:

  • “…transacting in, providing financing for, or otherwise dealing in debt with a maturity of longer than 90 days or equity if that debt or equity is issued after on or after July 16, 2014 by, on behalf of, or for the benefit of the persons operating in Russia’s financial sector named under Directive 1, their property, or their interests in property.”
  • “….transacting in, providing financing for, or otherwise dealing in new debt—issued on or after July 16, 2014—of greater than 90 days maturity by, on behalf of, or for the benefit of the persons operating in Russia’s energy sector named under the Directive 2, their property, or their interests in property.”

This is not a blocking action, nor will persons identified in Directives 1 and 2 be added to the Specially Designated Nationals (SDN) list. The action does not require U.S. persons to block the property or interests in property of the entities identified in today’s directives. You can read the list of the “persons” identified here.

Note that these are U.S. sanctions only, as other countries may have their own restrictions. While further action may come about as a result of these recent events, at this time those in the U.S. do not need to proceed with any additional changes. Those outside of the U.S. are encouraged to research if they may be facing any limitations in their respective country.

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Terrorism Coverage More Than Just ‘Cheap Sleep at Night Insurance’

Posted by on July 14, 2014 | Be the First to Comment

The world that we live in continues to reveal unprecedented hostile events with 158 countries having suffered incidents of one form or another in the past decade. Terrorism insurance is now no longer seen as a luxury product or boutique buy, but in many cases an affordable, well-understood and underwritten peril, that can be bought in addition to an All Risks policy.

In this update we take a look at territories which are providing the most cause for concern and the hidden threat of terrorism, while also exploring the benefits, types, and accessibility of this type of coverage.

 

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Halliburton Ruling Creates Risks for Securities Litigants on Both Sides

Posted by on July 2, 2014 | Be the First to Comment

Halliburton white paper 06-14_1

A ruling has come down from the Supreme Court on Halliburton Co. v. Erica P. John Fund. It has been decided to not overturn the precedent set by Basic, Inc. v. Levinson.

Now that the speculation is over as to whether the Court  would reverse Basic, the focus is on what level of impact  the ruling will have on securities class action litigation going forward. While the Halliburton ruling may not  impact the numbers of shareholder suits filed, it may very well impact how cases are litigated and resolved—possibly increasing costs on both fronts.

Learn more about the Supreme Court’s decision and the impact it may have on D&O coverage in my recent white paper:  Halliburton Ruling Creates Risks for Securities Litigants on Both Sides

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Workplace Violence: Employers Can Reduce Their Risks

Posted by on June 12, 2014 | Be the First to Comment

Severson_Poague_Davis-Workplace_Violence-May14_pg1_180xWorkplace violence is a national concern. No industry is free of the possibility of a severe workplace violence event. Frequently we hear of workplace violence (WPV) events in the news and read about them via social media. We empathize with those employers involved in shootings in movie theaters, schools, malls, and hospitals.

As an employer, and a business, everyone is asking ‘what can I do?’ This report looks at the four types of workplace violence and the strategies you can implement to reduce your risks.

Read Workplace Violence: Employers Can Reduce Their Risks

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Property & Casualty Update: Competition Creates Advantageous Market for Commercial Clients

Posted by on May 30, 2014 | Be the First to Comment

PC Insurance Market Update June 2014_1New markets have come in on the property side with significant capacity, both traditional and nontraditional. We’re seeing increased capacity not only from U.S.-based carriers but also from Bermudian and European carriers in the U.S.

These Bermudian and European carriers who’ve always written North American risk now want to do it direct, here. They are putting boots on the ground. That’s helping create a lot of capacity in the marketplace. Given what happens when the supply of any product exceeds demand, prices are moving downward, creating favorable conditions for commercial clients.

Read about these developments and more in the latest Property & Casualty Update.

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