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What colorful method does Claire Miley use to keep up with the latest healthcare regulations as they relate to proposed transactions? Find out more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

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Privacy Perils: Guidelines for Personal Drone Usage

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January 8, 2016

The Federal Aviation Administration estimates 1.6 million drones were purchased during 2015, with upwards of 1 million bought during the past holiday season alone. Besides FAA registration requirements, using drones for personal or commercial purposes raises several critical insurance issues, including coverage of invasion of privacy, personal injury and property damage claims, as well as for statutory violations. For instance, a number of states prohibit use of drones for voyeurism, or to collect information about critical infrastructure without consent. It is critical that you check privacy laws where the drone will be flown before taking to the skies.

If you or someone you know received a drone as a holiday gift, call your insurance broker to confirm that your homeowner's insurance policy or renter's insurance policy extends to drone-related damages. Most policies include coverage (subject to a deductible) for property damage caused by radio-controlled model aircraft (including drones), such as accidentally crashing into a neighbor's house or automobile, or bodily injury from hitting a person or animal. The policies may also cover loss of the drone itself if it is lost, stolen or damaged. However, it is less likely your policy will cover invasion of privacy claims, and even less likely it will cover violations of state or local laws.

As drones proliferate exponentially, insurance claims will surely follow. Both proactively and retroactively, insurers will in turn adjust current policy terms and conditions. These changes may include developing stand-alone drone policies, establishing coverage sublimits for drones, or requiring specific drone endorsements to homeowner's and renter's insurance policies. Anyone with a drone around their house must carefully review their policy at least prior to renewal, and discuss with their insurance broker the extent of available coverage.

Privacy Perils imageCheck out our series, Privacy Perils, to learn what steps you can take to guard your personal and company data. For more information about this topic and other cyber security concerns, please contact Bob Brewer, Tony McFarland, Elizabeth Warren or a member of our Privacy & Data Security team.

 


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