November 02, 2018

ABA to host Fall 2018 Fidelity & Surety Law Conference Nov. 7-8 in Philadelphia

WASHINGTON, Oct. 25, 2018The American Bar Association Tort Trial and Insurance Practice Session will host its Fall 2018 TIPS Fidelity & Surety Law Conference titled, “An Analysis Of Fidelity Claims For The Modern World,” Nov. 7-8 in Philadelphia. The conference brings together government and private-sector industry leaders, who will address important substantive and practical issues germane to today’s fidelity claims handling.

What:  
TIPS Fidelity & Surety Law Conference
Sponsored by the ABA Tort Trial and Insurance Practice Section

When: 
Wednesday-Thursday, Nov. 7-8

Where:
Ritz-Carlton Hotel
10 Ave of The Arts
Philadelphia, Pa. 19102

Thursday’s program highlights include:

“New Developments In Cybercrime – A Discussion of Cyber Extortion and Other “Hybrid” Claims Involving Both a Hack or Breach and Social Engineering Fraud” — There is a growing, albeit inconsistent, body of case law addressing traditional “hacking” losses and traditional social engineering losses. However, insureds and insurers are increasingly faced with “hybrid” cyber claims in which the fraudster hacked or breached an insured’s system while also utilizing traditional social engineering tactics such as fraudulent emails. Panelists will discuss how to handle these new claims under the currently used insuring language and legal authority.

8:45-9:15 a.m.

“Lessons from The “Great Recession” – What Have We Learned, and What Pitfalls Will We Face Again?” — A panel discussion regarding “lessons learned” from the 2008 banking and financial crisis (and how to apply those lessons in the future). Panelists will discuss issues related to failed banks; FDIC claims against former failed-bank directors and officers; and related D&O insurance claims, issues and litigation.

10:45-11:30 a.m.

“The New Frontier of Direct Causation and Fictitious Collateral Cases” This presentation traces the development of the fictitious or worthless collateral doctrine under fidelity policies, such as Insuring Agreements D and E of the financial institution bond, with an emphasis on recent expansions and new applications of the doctrine. The presentation will also discuss the origin and rationale behind the doctrine – assigning credit risks to the insured – and challenges to that division of risks. The presentation will then predict how the worthless collateral doctrine may be applied and further expanded in the future.

2:15-3 p.m.

“2017-2018 Fidelity Law Update” — The panelists will examine the good, the bad and the ugly of fidelity opinions over the past year.

3:15-3:45 p.m.

A complete agenda can be found online.

This event is open to members of the press. For media credentialing, please contact Robert Robinson at 202-662-1097 or robert.robinson@americanbar.org

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