Woodruff Sawyer

?? Compliance Alert: The Consolidated Appropriations Act, 2021 (CAA) prohibits group health plans and health insurance carriers from including "gag clauses" that restrict information sharing in their agreements. Plans and carriers must annually attest to compliance with this requirement. For the second year of attestation, due by December 31, 2024, new requirements include specifying the attestation year, attestation period, and plan type. This mandated attestation process aims to ensure transparency and prevent restrictions on sharing certain information in healthcare agreements. https://lnkd.in/gFwwC2GA #wsinsights #ComplianceAlert #EmployeeBenefits #GagClause

Fintech companies operate at the intersection of finance and technology, facing unique operational risks in a highly regulated environment. Fintech expert Aaron Casey explores these challenges and explains how E&O insurance can provide crucial protection. Dive into the distinctions between financial services E&O and technology E&O policies, and the types of events each policy covers. https://lnkd.in/geU8GUhU #wsinsights #cybernotebook #ErrorsAndOmissions #FinTech

Public benefit corporations (PBCs) represent a unique business model that combines profit-making with a commitment to specific social or environmental causes. This structure differs from B-corps and has gained traction following changes in Delaware law. As this relatively new corporate form continues to evolve, directors and officers of PBCs face distinct challenges and risks. D&O expert Priya Cherian Huskins outlines these risks and introduces mitigation strategies crucial for the successful management and growth of public benefit corporations in today's business landscape. Read more: https://lnkd.in/eRQ4Dbm6 #wsinsights #DOnotebook #PublicBenefitCorp #PBC

Reminder: Don't miss out on the festive WIF NorCal Q4 Holiday Wreath Making event! ??? Join the Women in Finance Community for a unique networking opportunity at Filoli. Craft your own wreath while connecting with influential leaders in a beautiful setting. There's still time to register and add some holiday cheer to your professional network! Details and registration: https://lnkd.in/eZgq7DEV #wsevent #WomenInFinance #Networking #HolidayEvent

According to Danielle Ling of Insurance Insider US, Trump 2.0 suggests a potentially positive outlook for the private D&O market under a new administration, with expectations of reduced regulatory pressure and increased business activity. M&A expert Yelena Dunaevsky predicts that a second Trump administration is likely to result in a less stringent regulatory environment. This could lead to increased M&A and IPO activity, benefiting the private D&O market. Read the full article online: https://lnkd.in/eeyE6WDj #wsinthenews #TrumpAdministration #RegulatoryEnvironment

In this Woodruff Whiteboard Breakdown, Priya Cherian Huskins addresses the crucial question of how much D&O insurance a company should purchase. She emphasizes that the decision should not solely rely on peer data, as this can lead to over-insurance. Instead, she suggests five key questions to discuss with an insurance advisor, including the company's public status and potential regulatory challenges. Learn more about D&O Limits on our website: https://lnkd.in/eRruU5z7 #whiteboard #DOnotebook #InsuranceLimits

Many have observed an uptick in secondary transactions and increased insurer appetite for these deals. Transactional insurance expert Yelena Dunaevsky offers a comprehensive overview of this trend, providing valuable insights for private equity professionals and M&A practitioners. She explores the nature of secondary transactions, their typical timelines, and the associated risks. Additionally, we examine how insurance can effectively mitigate these risks and compare the due diligence process for secondaries to traditional M&A deals. https://lnkd.in/e9ZywZey #wsinsights #MAnotebook #Secondaries #MergersAndAcquisitions

A huge congratulations to the distinguished professionals who were recognized for their efforts in driving diversity and inclusion in the insurance industry at The Water Street Club’s 2024 Annual Insurance Industry Awards Dinner at The View at The Battery in NYC! Thank you to Woodruff Sawyer's Sarah Y. Cho ???, for representing our support of diversity and inclusion in the insurance industry. https://lnkd.in/etdkSjmi? #InsuranceIndustry #Partnership #Collaboration #Mentorship #ClientDevelopment #Networking #Broker

The Women in Finance Community recently held a successful and empowering Candle Making Workshop at Glow Gifts. This exclusive event provided a unique opportunity for women leaders in finance to connect, create, and unwind in a creative setting. The evening was filled with creativity, camaraderie, and personal growth, further strengthening the bonds within this influential network. The organizers extend their heartfelt gratitude to all sponsors and attendees who made this event possible, contributing to the ongoing success of the Women in Finance community. This workshop exemplified the community's commitment to providing platforms for networking, skill-building, and empowerment among women in finance. #wsevents #WomenInFinance #WIF #CandleMaking #Networking

Boards may soon provide CEOs with additional legal safeguards, according to a recent Agenda article by Nick Muscavage. While adoption has been slow so far, there are signs this could change. The specifics of the new protections being considered and reasons for hesitancy from boards are unclear based on available information. Officer exculpation enhances a company's directors and officers insurance's risk profile, Corporate Securities expert Lenin E. Lopez notes. https://lnkd.in/dXRsXXp5 #wsinthenews #OfficerExculpation #CEOprotections