I’m thrilled to have Mach Millett, the Chief Innovation Officer and Alternative Investment Practice Leader at Lockton Financial Services, join us on The Innovation Storytellers Show. Mach’s impressive background spans over a decade at Marsh and a legal career at Skadden Arps, equipping him with a unique perspective on managing risks in innovation.
In this episode, we’re not just talking about insurance in the traditional sense. We’re delving into how to protect the future – the innovations and potential within our organizations. Mach’s role at Lockton involves creating new insurance products for unaddressed risk exposures and serving as a technical expert in various complex fields. His experience crafting insurance contracts and resolving disputes gives him a unique vantage point on the intersection of innovation, law, and insurance.
Our conversation travels from Central America to the intricacies of the legal profession and deep into the insurance world. We discuss the importance of involving legal, compliance, and PR teams from the onset of an innovation project, forming an ‘Innovation Council’ to ensure all potential issues are addressed early. Mach shares his experiences with the challenges and triumphs of navigating innovation’s legal and compliance landscapes, providing insights into how to foresee and manage the unforeseen.
This episode explores the support systems underpinning innovation. We delve into the importance of seeing around corners, anticipating risks, and extending a hand across different silos to foster successful innovation. Mach’s journey from a legal expert to an innovation leader at Lockton illustrates the multifaceted nature of protecting and nurturing the next big thing.
Name: Mach Millett
Title: CINO and Alternative Investment Practice Leader
Company: Lockton Financial Services
Mach Millett is the Chief Innovation Officer and Alternative Investment Practice Leader at Lockton Financial Services. In this role, he creates new insurance products for unaddressed risk exposures. He serves as a technical expert on management and professional liability issues for private equity, venture capital and hedge fund managers, SPACs and target companies, and private and public companies.
He works on a regular basis with GPL policies, portfolio companies, D&O programs, SPACs, and companies making the transition from private to public through initial public offerings (IPOs) and reverse mergers, D&O/management liability, pension trust liability, fidelity/crime, employment practices liability, private equity/venture capital professional services liability, internet/e‐commerce/cyber liability, kidnap and ransom, and merger and acquisition facilitation products. Mach has also been involved in creating new insurance products relating to wage and hour liability, FCPA investigation costs, FERC investigation costs, the responsible corporate officer doctrine, Dodd Frank compensation claw‐back, cyber liability, social engineering loss, Chief Compliance Officer personal liability, intellectual property infringement liability, reputational risk, medical billing and coding liability, and transaction facilitation.
Mach came to Lockton after twelve years at Marsh and ten years as an attorney at Skadden Arps, Bingham McCutchen, and Edwards Angell Palmer & Dodge, where he practiced law as an intellectual property, securities and general commercial litigator and insurance coverage defense lawyer. He has extensive experience crafting insurance contracts and litigating, arbitrating, mediating and negotiating the settlement of complex securities, intellectual property, business and insurance coverage disputes.
