1. 2008 International Conference Golden Opportunities or Fool’s Gold? November 5-7, 2008 San Francisco Challenges of Underwriting and Policy Interpretation in a Global Community

2. MODERATOR: Nilam R. Sharma, Esq., Partner, Crowell & Moring LLP PANELISTS: Elliott M. Fliés, Esq., CPCU Managing Counsel, Second Vice President, Travelers Financial, Professional & International Allison P. Hollern, Divisional Director, FINEX North America, Willis Limited Rissa Revin, Senior Vice President, Chief Claims Officer, Liberty International Underwriters Paul Schiavone, JD, CUO, Directors and Officers Liability & Employment Practices Insurance, Zurich Global Corporate Challenges of Underwriting and Policy Interpretation in a Global Community

3. Overview Insurance Program Issues for Multinational Corporations Global Opportunities or Forbidden Fruit? Outside of the Box – Creative Solutions for a Changing Market Takeaways Q&A

4. Global Insurance Program Issues What Issues Should Be Addressed When Negotiating an Insurance Program for a Multinational Corporation?

5. Master Policy with world wide cover the answer? Primary Layer/Excess Layer Fit Together Licensed Capacity Local Policies (regulation/language/local wording) Structure of a Global Program

6. Questions to Determine Global Coverage What are the Likely/Actual Exposures? Where are the Subsidiaries Based? Are There any Hot Spots Where Indemnification is Not Allowed? Where are The Relevant Senior Personnel Located? Premium Allocation Global Versus Local Tax Issues

7. Legislative Developments Class Actions Litigation Funding New Legislation in Jurisdictions Codifying D&O Duties Might of the Regulator

8. Multijurisdictional Impact on Claims How Many Claims? Developed vs. Developing Case Law/Legislation Managing Defense Costs Where Should the Matter be Litigated? Privilege/Confidentiality – Disclosure Obligations Procedural Differences Global Settlements – Do They Work?

9. Legal, Jurisdictional, Regulatory Concerns Non-Admitted Cover Legally Permitted vs. Prohibited Territory Can You Safely Act for Your Client Without Breaching Your Own Rules? Local Representation Policy Language

10. Interpretation of World Wide Policies Foreign Policies as Applied to US Claims US Policies Interpreted outside of the US Definition of Insured Defense Costs Extended Reporting Provisions

11. Interpretation of World Wide Policies Extensions – Tax and Penalties Insurability Issues Law of the Contract – Choice of Forum Policy Translations Indemnification – Court Order Cultural Differences

12. Golden Opportunities or Forbidden Fruit? BRIC Romania, Kosovo, Poland Never Heard of X Country?

13. Creative Insurance Solutions Product Innovation and Enhancement Party Relationships Walk the Talk

14. Takeaways Network, Network, Network Know Your Territory Be Aware of Cultural and Interpretation Differences Think Outside the Box

15. Q & A

16. Many Thanks to Nilam R. Sharma, Esq. Elliott M. Fliés, Esq., CPCU Allison P. Hollern Rissa Revin Paul Schiavone, JD