Corporate & Director Liability (and Business Opportunities!) from Major Near-term Disasters -- a free panel discussion
08 March 2011, 7:30-9:00 AM @ Mintz Levin law offices, San Diego, CA
This is a complimentary event sponsored by Mintz Levin:
http://www.mintz.com/newsletter/2011/Events/0903-0111-SD-LIT/email.html
Abstract:
Like many other regions of the U.S., San Diego is host to well-known natural disasters, most notably earthquake and fire, and is also a prime terrorist target due to being the world's largest U.S. military installation.
Lesser known potential disasters that could affect any company nationwide include regional or national **Electro-Magnetic Pulse (EMP)** events caused by major solar flares or a high-altitude nuclear explosions, which could cause up to US$ 1 - 2 Trillion of immediate damage in the case of a nationwide event, and several $$ Trillion more losses due to business interruptions that could last from a few months to a few years.
The chance of a major EMP event in the U.S. is estimated by one expert to be 50:50 over the next 15-25 years, although the next solar maximum is 2012, suggesting a major event could be very close in time.
Director & officer liability is well defined in the case of well-known natural disasters or terrorist actions, but not others such as EMP. At what point does a risk (EMP) become generally known to the common man, and therefore one that corporations ethically and/or legally should protect and insure against ?
In short, are your general liability and D&O (Directors & Officers' liability) policies sufficient to protect you from emerging and novel natural and man-made disasters ?
On the "positive" side, EMP-related disaster events present a novel sales talking point for many companies in the fields of solar energy, cellular or fiber-optic technologies, biomedical products & services, and defense technologies -- if their products are made EMP-resistant. Hence, companies are encouraged to proactively emphasize the value of their products and services in the case of these emergencies very likely to take place in the U.S. in the next several years.
Lobbying for increased EMP-related product safety standards for consumers and civilian populations, as well as for stimulus spending and tax breaks to support purchase/adoption of these EMP-resistant products/services is also an obvious business strategy.
Please join us for this expert panel discussion that will address these issues and more that could significantly affect your company and investors.
Posted by:
David A. Palella
Founder
EMP DEFENSE COUNCIL(TM)
[ Electro-Magnetic Pulse Defense Council(TM) ]
[ a business unit of BioScience Ventures Inc. ]
San Diego, California
cell: 619-787-5767
email: dpalella@gmail.com
http://EMP411.blogspot.com
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EMP Defense Council -- Preparing for Electro-Magnetic Pulse
http://www.linkedin.com/e/vgh/3702799/
Electro-Magnetic Pulse (EMP) Defense Council(C) Founded in San Diego, California on Pearl Harbor Day
http://www2.marketwire.com/mw/release_html_b1?release_id=695425
The EMP Defense Council(C) Announces the Electro-Magnetic Pulse (EMP) Priority Hardening List Ranked by Industry Vulnerability, and Proposes a Markets-Based Approach to Addressing Solar or Nuclear EMP Events
http://www2.marketwire.com/mw/release_html_b1?release_id=708639
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P.S. 1: Here is a 145-year history of major solar storrms:
http://www.solarstorms.org/SRefStorms.html
P.S. 2: Watch EMP tests conducted at White Sands Missile Range in New Mexico. Highly confined and man-made EMPs instantly and permanently disable a flying model helicopter and a full-sized automobile in motion:
“EMP Part 1”: http://www.youtube.com/watch?v=Fvu08Y9XJ0U
“EMP Part 2”: http://www.youtube.com/watch?v=0odJKYTzXg8
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