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Article 27/04/2021
SPACs are “blank check” companies that use money raised in an initial public offering to buy a company that won’t have to go through the IPO process itself. SPACs have exploded in popularity: there have been over 300 SPAC IPOs so far this year, with proceeds totaling over $99 billion.
Article 26/02/2021
On February 18, 2021, the Bermuda Monetary Authority (BMA) released its annual Bermuda Cyber Underwriting Report. For those unfamiliar with the Report, the publication outlines statistics, findings and general recommendations regarding cyber underwriting and, “to a lesser extent,” operational cyber resiliency. Its findings and suggestions were similar to the Cyber Insurance Framework guidance recently published by the New York Department of Financial Services.
Article 02/04/2020
COVID-19 has spread to every corner of the globe. The storm clouds are no longer on the horizon – we are in the storm. Investors are struggling to understand the implications of disrupted supply chains, containment measures, and roiled financial markets. The increased uncertainty has led to market volatility not seen since the global financial crisis. Moreover, the measures that governments are taking to fight the virus, including social distancing, has stalled economies and will likely usher in a recession.
Article 20/03/2020
On March 20, 2018, the U.S. Supreme Court in Cyan, Inc. v. Beaver County Employment Retirement Fund (“Cyan”) held that class actions under the Securities Act of 1933 (the “1933 Act”) may be brought in state court, and are not removable to federal court. What this means is that plaintiffs can and have been bringing class actions under Section 11 of the 1933 Act in both state and federal court. This has resulted in procedural headaches and an increase in defense costs that have frustrated both policyholders and D&O insurers alike.
Article 27/01/2020
Article 13/09/2019
Article 10/09/2019
The Ninth Circuit has certified a question to Arizona’s high court that should have insurers’ attention.
