It has been anticipated that the 21st century will mark the rise of the Asia Pacific region as the economic/geopolitical center of the world. The recent global financial recession, which has resulted in unmanageable public debt and slow recovery in the West, accelerated the economic rise of the East. With Asia leading the world out of this unprecedented crisis and emerging relatively unscathed, a new enthusiasm for deals has emerged especially in Australia, China, India, Indonesia, Singapore and South Korea.
These changes have brought about a new climate in international insurance. Underwriters of global insurance risks are more focused on insolvency issues impacting businesses in western countries and product liability, along with employment practice issues impacting the East. Of course, fraudulent business practices traverse the two worlds.
With the current global economic transition, US businesses along with their directors and officers could face new liabilities doing business abroad in the context of civil actions as well as regulatory and law enforcement proceedings. What legal pitfalls can US businesses face when operating within Asian Pacific jurisdictions? What regulatory issues must they be concerned with and what civil liabilities can they incur?
Jörg Ahrens is Head of Financial Lines Claims (common law) for Allianz Global Corporate & Specialty Insurance. He oversees Allianz’s large claim exposures in such jurisdictions as Australia, Canada and the UK, including the entire Asian market (Singapore, Hong Kong, Tokyo, India and China). He weathered some of the largest Professional Indemnity cases in the London market including Arthur Andersen and the TMT stock crash, as well as the US corporate bond crisis cases. He oversaw such noteworthy Directors and Officers Liability claims as Daimler Chrysler, Deutsche Telekom, WestLB and OneTel.
Mr. Ahrens is admitted to the bar in Germany and England (solicitor), in addition to holding 2 Master titles in competition law and economics. He has worked as a lawyer in Germany and the UK and as in-house counsel for the German television channel ZDF (Zweites Deutsches Fernsehen) as well as the Gerling Insurance Company. Mr. Ahrens is fluent in German, English, Russian and French.
Date: Monday, October 11th, 2010
Time: 8:00am - 9:30am
Where: Greater Seattle Chamber of Commerce, 1301 5th Avenue, Suite 2500, Seattle, WA, 98101
Registration The cost for this event is $12 for members of TDA and $15 for non-members. Refunds cannot be made after Wednesday, October 6. For more information or to register over the phone please contact Samantha Paxton at 206-389-7319 or firstname.lastname@example.org.