Friday, January 19

2:30PM - 5:30PM                                                              

Insurance Companies

Chair: Kirk Van Brunt, Davis & Harman LLP, Washington, DC

2:30pm                  Opening Remarks by the Chair.

2:35pm                  2006: The Year in Review.   Panelists will briefly review
     and discuss recent developments regarding insurance
     company and insurance product tax issues.  Topics to
     be covered include (but are not limited to) recently
     proposed regulations on exchanges involving private
     annuities, investor control, cell captive arrangements,
     COLI best practices, and closing agreements for failed
     insurance contracts.  Moderator:  Jean M. Baxley,
     Crowell & Moring LLP, Washington, DC.  Panelists:
     Mark S. Smith, Branch Chief, Branch 4,  Office of
     Chief Counsel, Department of Treasury, Washington,
     DC; Susan Seabrook, Latham & Watkins LLP 
     Washington, DC.

3:35pm                  Reflections on Risk.  This panel will address insurance
     risk transfer and distribution issues and the definition
     of insurance, as well as the new FASB proposal on
     bifurcation of contracts.  Moderator:  Dick Bromley,
     Foley & Lardner LLP, Chicago, IL.  Panelists:
     Christopher E. Nelson, Navigant Consulting, Chicago,
     IL.

4:35pm                  Stranger Owned Life Insurance/Life Settlements: 
                             What Should be Permitted/What Should Not.  This 
                             panel will address generally the holding of life insurance 
                             by persons lacking an insurable interest in the life of the 
                             insured, and explore recent efforts to proscribe “stranger
                             owned” life insurance and how to distinguish STOLI 
                             situations from legitimate secondary market 
                             transactions.  Moderator:  Tom Quinn, Law Office of Tom
                             Quinn, Boston, MA.