We know the business of insurance and reinsurance because of our hands-on experience as senior executives in these industries, and positions with the Federal Reserve and a key state insurance department. We have also held leadership positions in industry trade associations. We have internal underwriting and claims experience. We have handled disputes across nearly every line of business and every type of placement.
Disputes. We have represented insurers and reinsurers in nearly every major forum for dispute. From both the inside and outside, we have experienced the wide gamut of disputes that arise in (re)insurance in particular, and the financial-service industry more generally. These disputes have included complex coverage cases, declaratory judgment actions, bad-faith actions in pro-plaintiff jurisdictions, and reinsurance claims across the spectrum. We have handled litigation and arbitrations, class actions, insolvencies, fraud and RICO claims, cross-border disputes, and governmental investigations arising out of the business of insurance. We have also successfully resolved regulatory probes by federal and state agencies.
Regulatory Compliance. We have first-hand experience in navigating the regulatory challenges and demands affecting the (re)insurance industry, particularly following the reforms and initiatives that followed the financial meltdown of 2008/09. We have held executive leadership positions with responsibility for these areas within a global, multi-billion dollar company. In this capacity, we have worked with the key federal and state regulatory agencies in the United States and abroad, including the NAIC, major state insurance departments, the Office of Foreign Asset Controls (OFAC), the Federal Insurance Office (FIO), the Department of Justice, the SEC, the Federal Reserve Board, the UK’s Prudential Regulatory Authority (PRA), Germany’s BaFin, and the Australian Prudential Regulatory Authority (APRA). The regulatory issues we have handled include licensing, investment restrictions and capital requirements, auditor and regulatory disclosures on material contingencies, trade sanctions, data privacy, anti-bribery requirements arising from the Foreign Corrupt Practices Act (FCPA), and insider trading restrictions.
Receiverships & Insolvencies. We have extensive experience with insurer insolvencies from a variety of perspectives, including that of equity owners, debtors and creditors, guaranty funds and reinsurers. Disputes have spanned major first-generation insolvencies and rehabilitations, such as Reserve, Transit, Kemper and Mission, and also a cross-section of subsequent insolvencies in VA, TN, AZ, NY, TX and IL. The nature of disputes has run from defending professional-liability and RICO claims on “disguised insolvency” to statutory priorities and commutation terms. The actions have been venued from TROs in state Chancery courts all the way to MDLs in federal court.