Ritz-Carlton, Half Moon Bay, CA

5/01/2018

2018 alic PROGRAM

May 6-8, 2018

Ritz-Carlton, Half Moon Bay, CA

Looking Back and Looking Forward: What Lessons Can Be Learned?

(This schedule is subject to change)

Saturday, May 5

2:00 p.m. – 3:00 p.m.Committee Meetings

3:00 p.m.–5:00 p.m.Board of Governors Meeting (Montara Room)

6:00 p.m. – 7:00 p.m.Early Arrivals Reception (Mar Vista Lawn)
If you arrive on Saturday, reconnect other ALIC members at this reception

Sunday, May 6

10:00 a.m.Registration Opens

4:00 p.m. – 5:00 p.m.Board of Governors Meeting (Pacifica Room)

5:00 p.m. – 5:30 p.m.Emeritus Member Reception (Ocean Lawn)

5:30 p.m. – 6:00 p.m.The Billy Shands New Member Reception (Ocean Lawn)

6:00 p.m. – 7:00 p.m.President’s Cocktail Reception and Welcome (Ocean Lawn)

7:00 p.m. – 9:00 p.m.Clubhouse Dinner (optional, must register to participate)

In lieu of the traditional dine-aroundwe have rented out Mullins Bar and Grill – the Ritz Carlton Half Moon Bay Golf Course Clubhouse. The additional cost is $95 per person, which includes a buffet dinner and a beer and wine bar.

Monday, May 7

7:00 a.m. – 8:00 a.m.Breakfast Available (Pre-function A-C)

7:00 a.m. – 7:50 a.m.General Counsel Roundtable (Observatory Room)

Invitation only.

8:00a.m. –8:10 a.m.Welcome, Introduction (Ritz-Carlton Ballroom)

Carl Wilkerson, Vice President & Chief Counsel – Securities & Litigation, American Council of Life Insurers

8:10 a.m. –9:00 a.m.General Session I – Future Shock (Ritz-Carlton Ballroom)

Industry leaders will examine major issues confronting life insurers over the decades and project forward to anticipated developments in the future.

Panelists: David Carmichael, Former Senior Vice President and General Counsel, PacificLife; Gary Hughes, Executive Vice President and COO, ACLI and Karen Shaff, Executive Vice President, General Counsel and Secretary, Principal Financial Group

Monday, May 7 (continued)

9:00 a.m. – 9:50 a.m.General Session II – “Regulation of Insurance – Back to the Future or Just a State of Mind?”(Ritz-Carlton Ballroom)

This session offers an update on the future of federal and state regulation of insurance in both the domestic and international arenas. Have the brakes been engaged or are we just on another roadway?

Kermitt Brooks, Managing Director and Deputy General Counsel, AXA; Ann Kappler, Deputy General Counsel and Head of External Affairs, Prudential; Bruce H. Saul, Senior Policy Analyst, Federal Insurance Office, US Department of the Treasury

10:10 a.m. –11:00 a.m. Breakout Sessions I

• Corporate Section Breakout, “Resolving the Competing Roles of Legal Guardian, Corporate Leadership and Company Conscience” (Miramontes Room & Terrace)

In the past two decades, there has been a revolution within the in-house legal profession. General Counsels and their in-house colleagues have risen in quality, responsibilities, power and status. Not only do legal departments run the legal function (including the engagement of outside advisors) but also they have become an integral part of corporate management and overall leadership. This panel discussion will examine critical issues facing the legal departments of life insurance companies, focusing on lessons learned from recent events affecting companies outside of our industry. In particular, this panel will discuss some of the findings and recommendations from recent published reports examining corporate conduct and the roles of the legal department, including the Sherman & Sterling Sales Practices Investigation Report on Wells Fargo and similar reports produced for Uber and others. The panel will also offer their observations on how to address the expanding role of lawyers as legal resources, company leaders and a lawyer’s ethical obligations affect those roles.

Moderator: Scott Burton, Partner, Eversheds Sutherland; Panelists: Kermitt Brooks, Managing Director and Deputy General Counsel, AXA; Sharon Cheever, Senior Vice President and General Counsel, Pacific Life; Dennis Schoff, Senior Vice President and General Counsel, Ohio National Mutual Holdings

• Insurance Section Breakout, “Epigenetics in Underwriting – Cutting-edge Developments and Issues” (Montara Room)

Technology and science are causing transformational shifts in virtually all sectors of our society – even in the seemingly otherwise unchanging context of life insurance underwriting. This panel will explain the basics of Epigenetics and will explore how Epigenetics is affecting (and will continue to affect) us. In addition to a small dose of science and statistics, you will hear about many of the practical and legal implications of employing – and not employing – Epigenetics in the context of life insurance underwriting. This session is also designed to include a question-and-answer session that should be quite lively.

Panelists: Tom Nodine, Co-Founder, Life Epigenetics; Paige Freeman, General Counsel Munich Re; Mike Miller, Shareholder,Cozen O’Connor

• Investment Section Breakout, “Demystifying Blockchain for Life Insurance” (Miramar I-III Room)
  As the life insurance industry continues to move into the digital age, blockchain is often heralded as an essential part of the digital future. But what is blockchain really and what could it actually mean for life insurance? This presentation will provide an overview of what blockchain is and how it really works, explore the potential use cases for blockchain in life insurance, and discuss legal and regulatory risks and developments. The presentation will provide context and examples designed to help attendees understand the promises and limitations of blockchain for the life insurance industry and identify risks to be aware of around any potential blockchain project.

Speaker Alexander Sand, Esq., Eversheds Sutherland

Monday, May 7 (continued)

11:00 a.m. –12:00p.m.Breakout Sessions II

• Securities Section Breakout, “Securities Investigation and Enforcement Actions and Insurance Product Sales to Investment Advisor Clients” (Miramontes Room & Terrace)

This panel will explore recent and ongoing investigations and enforcement matters along with a discussion on strategy and practice pointers for when it happens to you. The panel will also discuss issues related to insurance product distribution to registered investment advisers’ clients.

Speakers: Ann Young Black, Shareholder, Carlton Fields Jorden Burt; Andrew Bowden, Senior Vice President and General Counsel, Jackson National Life Insurance Company; Richard Choi, Shareholder, Carlton Fields Jorden Burt

• Tax Section Breakout, “Tax Reform and Life Insurance Companies” (Montara Room)
  Almost half a year into the most significant change to the US tax code since 1986, companies are continuing to digest the full impact of the new law in terms of changes to their tax profile, capital planning, new opportunities for investment and business operations. Companies are also wrestling with uncertainty and unintended consequences under the new law, especially in the international area. This panel gives an overview of the highlights of the new law as it relates to the life insurance industry and practical considerations for in-house counsel to be aware of in connection with tax reform.

Speakers: Aditi Banerjee, Vice President and Corporate Counsel, Prudential; Pete Bautz, Senior Vice President, Taxes and Retirement Security, ACLI and Bryan Keene, Davis-Harman LLC

• Litigation Section Breakout, “Point/Counterpoint: Litigation Risks and Exposure Associated with California’s PAGA Law”(Miramar I-III Room)

Under California’s Private Attorneys General Act (PAGA), insurers that have employees in California have faced a wave of enforcement actions brought by plaintiffs alleging wage/hour violations there. The ability of plaintiffs to bring these enforcement actions enable plaintiffs to circumvent arbitration clauses and/or other obstacles that would otherwise prevent plaintiffs from certifying a class. Under PAGA, a plaintiff may seek civil penalties and attorneys’ fees for alleged violations suffered, and for those suffered by similarly “aggrieved” employees. This panel will feature a lively discussion between lawyers on both sides of the caption, offering an open forum to learn more about how plaintiffs’ lawyers view PAGA and how insurers may combat these private enforcement actions brought under PAGA.

Speakers: Spencer Skeen, Shareholder, OgletreeDeakins and Michael Strauss, Strauss & Strauss

Afternoon Social Activities (must register to attend)

1:00 p.m. – 6:00 p.m.Golf Tournament at Half Moon Bay Ocean Course

Golfers will pick up a boxed lunch at the course at 12:30 p.m.

12:30 p.m. – 4:00 p.m. Purisima Creek Redwoods Hike

Transportation departs at 1 p.m. Participants will pick up a boxed at the hotel prior to boarding.

2:00 p.m. – 4:00 p.m.Fun with Wine: Wine and Chocolate Pairings (Pescadero Room)

Learn about local wines and how to order and pair them with chocolate.

ALIC Dinner and AfterParty Event

6:30 p.m.– 7:15 p.m.Cocktail Reception (Mar Vista Lawn)

7:30 p.m.Dinner and Anderson Award Presentation (Ritz-Carlton Ballroom)

9:00 p.m. – 12:00 a.m.After Party featuring the Lucky Devils Band (Ritz-Carlton Ballroom)

Tuesday, May 8

7:00 a.m. – 8:00 a.m.Breakfast Available (Pre-function A-C)

7:30 a.m. – 7:45 a.m.Business Meeting (Ritz-Carlton Ballroom)

7:45 a.m. –8:45 a.m.General Session III, Ethics Session (Ritz-Carlton Ballroom)

Review the ethical principles that apply to the practice of law for life insurance companies as the challenges facing lawyers evolve.

Speaker:Sarah Raggio, Assistant General Counsel, Locke Lord LLC

8:45 a.m. –10:00 a.m.General Session IV, “The Rapidly Evolving Best Interest Standard of Care” (Ritz-Carlton Ballroom)

This panel will examine the current status of litigation over the Department of Labor’s “Fiduciary Rule” and the multiple coextensive developments at the National Association of Insurance Commissioners (NAIC), individual states, the Federal Securities Regulators. Panelists will discuss the prospects for a consistent, uniformly applied “best interest” standard of care across all state and federal regulatory platforms.

Moderator: TBD

Panel: David W. Ogden, Partner, WilmerHale; Steve Toretto, Associate General Counsel, Pacific Life

10:00 a.m.–11:00 a.m. General Session V, “Biometrics and Life Insurance” (Ritz-Carlton Ballroom)

An exploration of legal issues related to facial analytics, fingerprints, retina/iris scans, and other identifiers that are being used to expedite the underwriting process and to manage company employees. This panel will focus first on state laws and pending legislation relating to the use of biometrics, with particular attention to Illinois’ Biometric Information Privacy Act (BIPA). The panel will then discuss the exposure for insurers that may seek to capture, obtain, store, or use biometric information and the wave of class actions arising from alleged violations of biometrics legislation, as well as best practices to ensure compliance.

Speakers: Jason Gosselin, Partner, Drinker Biddle & Reath; Kate Villanueva, Drinker Biddle & Reath

11:00 a.m. – 12:00 p.m.General Session VI, “Before Disaster Strikes – Development NOW of Integrated Cyber and Sales Conduct Strategies for Life Insurers to Address Legal, Regulatory, Compliance, Customer and Media Issues” (Ritz-Carlton Ballroom)

This session offers a roadmap to avoiding the debacles of broken financial services cultures indifferent to sound management and customer loyalty.

Moderator: Kim Peretti, Partner, Alston Bird

Panelists: Siobhan Gorman, Partner, Brunswick Group LLC; Jim Pastore, Partner, Debevoise & Plimpton; Wendy Wu, Managing Director, Stroz Friedberg

Participants: Gretchen Cepek, Senior Vice President and General Counsel, Allianz Life; Germaine Marks, Vice President – Government Affairs, Prudential

12:00 – 1:30 p.m.Closing Lunch – Continuation of General Session VI, “Before Disaster Strikes” (Ritz-Carlton Ballroom)

If your schedule allows, grab a boxed lunch and plan to stay while the discussion “Before Disaster Strikes” continues.