More....Y2K is here to stay!!
Executive Briefing Slated for June 5 to Address Y2K Issues and 'Millennium Bug' Risks
18:06:34, 12 May 1998
Less Than Six Hundred Days To Go; Nobody Immune
BELMONT, Calif., May 12 /PRNewswire/ -- A trio of leaders from the legal, consulting and insurance fields are holding an Executive Briefing June 5, 1998, in an interactive discussion forum to address critical Y2K issues including SEC disclosure obligations, the potential personal liability of management relating to Y2K related failures, risks relating to customer and vendor relationships and how companies can strategically prepare for the Year 2000. The event, sponsored by ABD Insurance Services, Brobeck Phleger & Harrison L.L.P. and Coopers & Lybrand, L.L.P., runs from 7:30 am - 10:00 am at Redwood City's Hotel Sofitel.
Registration information may be obtained by calling Tracy Smith, 415-442-1579 or via e-mail, tsmith@brobeck.com.
With the Millennium bearing down, companies are discovering they are ill-prepared for its arrival. The Year 2000, or "Y2K," threat is being felt from Wall Street to Main Street, with predictions of dire consequences including massive disruption of manufacturing and distribution of goods, the complete shut down of stock markets and failure of infrasystems such as transportation, power, water communications and banking.
The June 5 event panelists are John Schwonke, vice president and manager of ABD Insurance Services, Inc., risk services consulting practice; Kathryn Dodds, partner, Coopers & Lybrand, L.L.P., San Francisco, and David Furbush, partner, Brobeck Phleger & Harrison, L.L.P., Palo Alto.
Schwonke is responsible for managing the Director's & Officers Liability unit and provides risk consulting services for the brokerage's technology clients. His consulting activities include risk management and risk financing. Dodds leads the Year 2000 consulting and controls practice in the Bay Area and is a frequent speaker on issues and controls surrounding the Year 2000, from both a business and technical perspective. Furbush specializes in defending shareholder class actions, derivative suits, SEC proceedings and Year 2000 litigation. Furbush is active in counseling clients on Year 2000 risk avoidance.
According to Schwonke, the event is not a technology-based briefing, but an executive briefing to allow CEOs, CFOs, CIOs, corporate counsel and other management executives in charge of Year 2000 compliance procedures an opportunity to explore the issues facing their companies.
"We will be looking at what SEC disclosure obligations are in relation to anticipated costs, problems and uncertainties associated with the Year 2000 issue," stated Schwonke. "Directors and officers face potential personal liability for Year 2000 problems. We're also going to help you define whether your critical business partners and vendors are taking necessary steps to deal with the Year 2000 problems or if they are a risk to your business. And, of course, we plan to examine whether current insurance policies in force cover your business Year 2000 risks.
"One of the biggest obstacles to overcoming the Y2K problem is the sense of complacency which has grown up around the issue," Schwonke continued. "We need to separate fact from fiction and then deal with realistic solutions. This Executive Briefing is a step in the right direction."
ABD is the largest independent risk management and benefit consulting brokerage in the western United States, and 19th largest risk management consulting brokerage in the country. The consultative-based organization provides a unique combination of client services, strategic global market relationships, specialized industry knowledge and focus on results, successfully integrating market relationships, staff expertise and systems capabilities to benefit its clients across a wide spectrum of industries.
SOURCE The Corsi Agency
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