Letters of Credit (LOC's) are a long established vehicle for guaranteeing payment — until all goes completely awry such as the recent Vesttoo bankruptcy with new developments almost daily.  Our panel will discuss how an LOC is intended to work, the ramifications of fraudulent LOC’s, the fallout to Vesttoo, and how this can impact the insurance sector.

Panelists:

Keith Kaplan, Chief Liquidation Officer for Bedivere and R&Q Re

Hugo Kostelni, Managing Director, Global Risk Solutions, Guy Carpenter & Co.

Robert Romano, Partner, Norton Rose Fulbright

Jonathan Bank, Counsel, Norton Rose Fulbright (Panel Chair)