Dodd-Frank: Expectations vs. Reality
By Amy Stewart Law
It is now 2012, and since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, corporate policyholders and industry insiders alike have anticipated its impact on the insurance industry. Among other measures, the unprecedented financial reform law mandated significant federal regulation of insurance, created generous incentives for whistleblowers that provide quality information regarding potential securities violations, imposed aggressive penalties for retaliation against whistleblowers, and required corporations to establish policies for recoupment of incentive-based executive compensation when a restatement renders those payments excessive. Experts predicted a deluge of whistleblower activity and enhanced regulatory scrutiny that is expected to spawn increased governmental investigations and eventually litigation against public corporations and their directors and officers.
As we approach the second anniversary of Dodd-Frank, how has the landmark legislation affected the insurance industry? In an article for the Spring 2012 issue of the Texas Insurance Law Journal, Amy Elizabeth Stewart examines Dodd-Frank's implementation to date on insurance and liability-related issues, along with the impact the legislation has had—and is expected to have—on the insurance industry. Click here to read the full article.