This briefing was presented live in Sidley’s New York office and via web conference on Wednesday, November 19, 2008. Please click below for materials related to the briefing.
In an effort to address the current economic turmoil, the United States government has enacted the Emergency Economic Stabilization Act of 2008 (EESA) and is in the process of implementing the related Troubled Assets Relief Program (TARP). The impact on the insurance insurance industry is unclear:
- How can insurers qualify for the Capital Purchase Program?
- Even if they can qualify, should insurers welcome Federal capital into their organizations?
- What strings are attached, with regard to executive compensation and otherwise?
- How can insurers sell troubled assets into the Federal program?
As the insurance industry considers these issues, please join us for a discussion by members of Sidley’s insurance industry EESA/TARP task force regarding the opportunities and potential pitfalls created by these Federal programs for all insurance industry participants.