Insurance Corporate & Regulatory
Overview
Cozen O'Connor’s insurance corporate and regulatory practice focuses on the unique corporate, transactional and regulatory issues concerning the insurance industry.
WHO WE ARE
The attorneys in the insurance corporate and regulatory practice are well-positioned to service client’s insurance corporate and regulatory needs given the group includes:
- Two former in-house counsel for P/C insurers
- One former Insurance Commissioner
- One former director of product development for a P/C insurer
- One former regulatory affairs analyst for a life insurer
WHAT WE DO
We advise on strategic, compliance, transactional and operational matters, represent clients in matters involving insurance regulators and prepare documents required for business and regulatory purposes.
SERVICES PROVIDED
- Corporate organization including: changes in control, acquisitions, divestitures and mergers; redomestications; demutualizations; purchase and sale of assets and books of business; restructurings and withdrawals; and creation of new entities
- Representations before insurance regulators including: financial and market conduct examinations; regulatory investigations and inquiries; and administrative hearings
- Licensing and registration of insurance companies, producers and other intermediaries
- Regulatory issues including compliance, market surveillance, advertising, statutory reporting, and receiverships
- Specialized regulatory and legal topics including: investment restrictions; holding company matters; corporate governance; premium tax; surplus notes; premium financing; statutory deposits; and antitrust and McCarren-Ferguson issues
- Counseling directors on fiduciary duties, audit committee responsibilities, and responsibilities for nominating, compensation and other Board committees; and drafting committee charters
- Product and rate filings including: property, casualty, surety, financial guaranty, life, health, annuities and viaticals
- Excess and surplus lines issues; non-admitted insurance requirements
- Organization and operation of alternative risk mechanisms, including: offshore and domestic captives; risk retention groups; and self-insurance plans
- Contract drafting including: insurance; reinsurance; producer; managing general agent; and third party administrator agreements
- Drafting corporate policies including: privacy; document retention; codes of ethics; conflicts of interest; anti-fraud; and subrogation policies
- Interpreting insurance statutes, regulations, rules and bulletins and advising on regulatory practices
- Regulatory and legislative monitoring including: NAIC model acts; NCOIL model acts; and state and federal laws
OUR CLIENTS
Our clients include all segments of the insurance industry including: property and casualty, life, health, HMOs, health plan corporations, surety, title and financial guaranty insurance companies, reinsurers, life settlement companies, agents, brokers and other intermediaries, third party administrators, adjusters and other licensed entities.
CASES WE HANDLE
- Creation of holding company structures
- Mergers and acquisitions
- Admissions and licensing for domestic, foreign and alien regulated companies
- Filings and disputes under the Insurance Holding Company Act
- Financial condition filings and regulatory challenges
- Orders to Show Cause or Consent Orders alleging non-compliance with statutes and regulations
- Challenges to product and rate disapprovals
- Responses to data calls and regulatory inquiries
- Internal investigations and due diligence
Our attorneys provide guidance on insurance corporate and regulatory matters from the development of a business strategy to the successful implementation of business plans, and representation in the event of a challenge or dispute.