Sompo’s Jeremy Salzman, SVP, Head of CML and FI Claims, U.S. Insurance and Deirdre Martin, SVP and CUO, CML and FI, U.S. Insurance recently co-authored an article published in Business Insurance discussing potential reform to insider trader rules and the impact on the D&O insurance market.
While the SEC’s efforts to uncover carefully orchestrated insider trading are not new, recent Enforcement Division action shows a continued commitment to enforcing individual accountability for abuse and misconduct and halting unfair trading advantages in the market.
Traditional compliance protocol to prevent insider trading has centered around a company’s institution of individual 10b5-1 plans. But, as of late, in addition to recently initiated enforcement actions, SEC’s Chair, Gary Gensler has ordered his staff to undertake reform of 10b5-1 plans, the mechanism corporate insiders use to disclose intent of and initiate trading in their company’s stock.
Read the full Business Insurance article
About Sompo
Sompo Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo writes agriculture, professional lines, property, marine, energy, casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. Sompo companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. Sompo’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo, Suite No. 784, No. 48 Par-la-Ville Road, Hamilton HM 11, Bermuda.
For more information about Sompo, please visit www.sompo-intl.com.