Spotlight On Corporate Governance Rules For Insurers
June 30, 2011, 6:47 PM EDT
Law360, New York (June 30, 2011, 6:47 PM EDT) -- The recently announced acquisition of publicly held insurer FPIC Insurance Group Inc. by The Doctors Company illustrates some of the potential complexities involved in navigating recent insurance law reforms on internal controls, particularly in the M&A context. Specifically, the FPIC-Doctors merger demonstrates how insurance companies can be subjected to more stringent board composition requirements as a result of being acquired.
On May 24, FPIC and Doctors (both engaged primarily in medical professional liability insurance) announced that they had entered into a definitive merger agreement pursuant to...