WILMINGTON, DE and HARRISBURG, PA, February 22, 2010 – Scott C. Penwell and Matthew J. O’Toole presented to the Rotary Club of Wilmington West on captive insurance companies and Delaware as a captive domicile on January 27, 2010.

Mr. Penwell discussed captive insurance companies, including how they work, their costs and how they fit into a company’s risk management plan.
Mr. O’Toole, one of the original drafters of the Delaware Revised Captive Insurance Company Act, discussed its details and his role in writing the legislation, as well as the advantages of Delaware as a captive domicile.
Mr. Penwell has significant experience assisting clients in both traditional and non-traditional insurance law matters and has represented numerous captive and rent-a-captive insureds and reinsurers primarily in Bermuda and the Cayman Islands. He also advises domestic licensed carriers and is a founder and director of Eastern Insurance Holdings, Inc., a publicly traded insurance holding company which owns insurance companies that write policies in 20 states and have an A- rating from A.M. Best.

Mr. Penwell co-chaired the Insurance Law Practice Group of TerraLex, a network of 145 law firms representing all 50 states and 93 foreign countries. He is a past member of the Attorney Advisory Committees for the Pennsylvania Corporation Bureau and the Pennsylvania Securities Commission, and is a Life Fellow of the American Bar Foundation.

In addition to being one of the principal drafters of the Delaware Revised Captive Insurance Company Act, Mr. O’Toole serves on the legislative committee of the Delaware Captive Insurance Association. He concentrates his practice on corporate and business transactions, particularly the structure and use of Delaware business entities, including corporations, limited liability companies, partnerships (general and limited) and statutory trusts. His practice frequently involves advising on Delaware captive insurance law and providing third-party legal opinions concerning Delaware’s General Corporation Law, Delaware’s alternative entity statutes, the Delaware UCC and other applicable law.

Mr. O’Toole currently serves as a member of the Council of the Corporation Law Section of the Delaware State Bar Association. He also sits on the drafting committee responsible for the Delaware Limited Liability Company Act, the Delaware Revised Uniform Limited Partnership Act and the Delaware Revised Partnership Act.

He is co-author of Symonds & O’Toole on Delaware Limited Liability Companies, published by Wolters Kluwer Law & Business/Aspen Publishers. His articles on amendments to Delaware’s corporate and alternative entity statutes and the Delaware UCC are published regularly in CSC’s Delaware Laws Governing Business Entities and he is author of the “Delaware Limited Liability Company Practice Guide,” in State Limited Liability Company & Partnership Laws, published by Aspen Law & Business.