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Special Section—PLUS 2006 Building on a strong foundation New president points to past accomplishments as steps to future success By Phil Zinkewicz Patrick M. Kelly, the 2006 conference chair and incoming 2007 PLUS president, promises that next month’s PLUS annual meeting will not only be educational and thought provoking—as PLUS conferences generally are—but also electrifying as speakers and panel moderators address “cutting-edge” issues affecting the property and casualty insurance industry in general and the professional liability market in particular. This year’s theme is “Fed Up?—Are We Ready for New Risk & Regulation?,” reflecting the current upheaval in the insurance industry over state versus federal regulation and/or optional federal charters. The issue of federal regulation of insurance is not a new one, Kelly admits. “However, there are rumblings in the industry that federal regulation may be closer than we think,” says Kelly, who is a partner in the Los Angeles office of Wilson Elser Moskowitz Edelman & Dicker, LLP. “Whatever side one is on, the issue needs to be explored, especially in light of the fact that at least one bill has been introduced in Congress to federalize the regulation of insurance. The increasing impact of federal law in defining professional liability risks, and potentially in regulating the insurance industry, cannot be ignored. Our opening session will include a presentation by industry leaders on federal regulation of insurance, moderated by noted TV journalist Forrest Sawyer. But more than federalism, we will also explore the forces of transition and change that characterize the current environment of the global professional liability insurance industry.” If the debate over federal regulation of insurance is not enough to stir interest among PLUS attendees, Kelly says that one of the biggest news events of the year that may have repercussions through the industry in the years ahead is a Texas federal jury’s guilty verdict against two former executives of Enron Corporation. “We will give attendees the chance to hear the evidence themselves in a dramatic presentation by the special prosecutor in the Enron case, John Hueston, who will recreate highlights of his opening statement to the jury and his cross-examinations of Enron’s chairman. Attendees will hear how the Enron verdict may affect the public’s perceptions of corporate governance, and its possible impact on future D&O coverage issues.” Kelly says that concurrent educational sessions will address such topics as: • Medical malpractice—Is there another crisis in the offing? • Employment practices liability— What are the trends in employee lawsuits? • Emerging privacy issues—What are the recent legal and regulatory developments relating to privacy protection? • Globalization of D&O—Are insurers gearing up to meet the corporate community’s demands for D&O policies structured to satisfy overseas local government laws? • Miscellaneous professional liability—How can insurers keep pace with new professions being created in the consulting arena? • Risks and rewards of bankrupt companies— How are various professions affected by a corporate bankruptcy? Kelly says these are just a sample of educational panels that will be offered at the PLUS annual. “What I’d like to do during my term of office is to bring PLUS to its next higher level,” Kelly says. “PLUS has expanded dramatically since it was first formed. Look at our RPLU program and the number of seminars we conduct. This has been due to the efforts of a good many talented people dedicated to continuing education. We are starting up a PLUS school for younger people in the insurance industry to teach them the fundamentals of professional liability. We are enhancing our Web site so that members can have easier access to our educational materials and keep informed about upcoming seminars. We have hired a new director of education, Deborah Ropelewski, to coordinate all of our educational activities. “None of these things would be happening without the foundation that has been laid by our past presidents,” continues Kelly. “Particularly, I would like to recognize Jeff Klenk, who is our immediate past president and whose energy and dedication to PLUS know no bounds.” Finally, but certainly not least in importance, Kelly says that the upcoming PLUS annual will provide some rare entertainment opportunities for attendees. Humorist, TV personality and former presidential advisor Ben Stein will appear as a guest speaker at the Friday closing session. However, for Kelly and probably a great many other people in his age group, the highlight of the conference will be a private concert for PLUS registrants performed by The Beach Boys. Kelly is particularly excited about this event on a personal level, and PLUS attendees should not be surprised to see Kelly on stage with The Beach Boys, playing along on his guitar as he has done on many other occasions. The fact is, Kelly and the group have been friends for many years, and he has often had the pleasure of sitting in with The Beach Boys when they perform. He intends to do so this time around as well. * |
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