Elon Law's Distinguished Practitioner in Residence, Karol K. Sparks, has completed the 2010 edition of the book Insurance Activities of Banks, offered each year with updates and supplements by Aspen Publishers since Sparks originally authored the book in 1998.
Insurance Activities of Banks brings together all of the federal and state laws, regulations, and case law that banks, insurance companies, and their respective counsel draw from to operate within the highly regulated field.
Following chronological steps to insurance operations, from concept to compliance, and including underwriting, product development, acquisitions, and investments, the book is designed to offer practicality for bankers and insurers, as well as thoroughness for lawyers.
Highlights of the 2010 supplement to Insurance Activities of Banks include:
– a new chapter on special issues associated with registered insurance products;
– updates to seven chapters, reviewing potential impacts from the crisis in the financial services sector on the insurance and banking industries;
– new sections on subjects of particular regulatory focus, such as credit default swaps;
– new sections concerning insurance agent conduct;
– an updated chapter on the acquisition of insurance agencies containing new trend figures for these transactions.
Sparks teaches courses in contracts, contract drafting, and banking law at Elon University School of Law. She is a partner in the financial institution practice of the Chicago law firm of Barack Ferrazzano Kirschbaum & Nagelberg LLP. Her practice concentration relates to corporate activities of financial institutions, with special emphasis on the distribution of non-traditional banking products, including annuities, insurance, and mutual funds.