Practice Areas & Industries: Duane Morris LLP


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Given the depth of experience in the insolvency and bankruptcy law area, as well as the firm's comprehensive Insurance industry practice, it is only natural that the lawyers in the Business Reorganization and Financial Restructuring group would also handle insurance company rehabilitation and liquidation cases. Indeed, over the years, many of the nation's leading lenders, reinsurers and insurance guaranty associations and other parties-in-interests have turned to the firm for its counsel relating to some of our nation's largest and most significant insurance company insolvency proceedings, including Mutual Fire, Marine & Inland Insurance Company, Fidelity Mutual Life Insurance Company and Reliance Insurance Company.

Articles Authored by Lawyers at this office:

Report to NAIC on Captives: The Controversy About Principle-Based Reserves and Captives Continues
, April 01, 2014
The use by life insurance companies of captive reinsurance companies to finance XXX and AXXX reserves has been a significant and contentious issue in recent years. Some members of the National Association of Insurance Commissioners (the "NAIC") are deeply opposed to captive-based...

New York Appeals Court Reverses Itself in K2 Investment Group Decision; Reaffirms Earlier Ruling in Servidone
, February 25, 2014
In a decision notable for several reasons, the New York State Court of Appeals—the state's highest court—reversed itself in K2 Investment Group, LLC v. American Guarantee & Liability Insurance Co. [21 NY3d 384 (2014)] and reaffirmed its earlier ruling in Servidone Construction Corp....

Group-Wide Global Insurance Capital Standards First Step - Basic Capital Mandate for G-SIIs
, January 03, 2014
As the first step in the development of group-wide global insurance capital standards, the International Association of Insurance Supervisors (IAIS) released for public consultation its proposal on basic capital requirements (BCR) for global systemically important insurers (G-SIIs) on December 16,...

The Development of Global Capital Standards for IAIGs and G-SIIs: Notes from IAIS Meeting on November 13, 2013
, November 29, 2013
In July 2013, the Financial Stability Board (FSB) designated nine insurance groups as global systemically important insurers (G-SIIs). Simultaneously, the International Association of Insurance Supervisors (IAIS) released its framework of policy measures for G-SIIs, which included the concept of...

First Ever: Global Capital Standards for Insurers
, October 15, 2013
On October 9, 2013, the International Association of Insurance Supervisors (IAIS) took a significant step toward developing a first-ever risk-based global insurance capital standard (ICS). The target date for development of the ICS is 2016, with full implementation beginning in 2019 after two years...

Insurance Regulatory Update - Holding Company Supervision, Designation of Prudential Financial as Being "Too Big to Fail," Principle-Based Reserving and Captives
, September 24, 2013
The National Association of Insurance Commissioners ("NAIC") 2013 Summer National Meeting, which was held in late August, saw a continuation of the debate over major insurance regulatory reforms. The first of these reforms involves supervision (regulation) of insurance and non-insurance...

Financial Stability Board Designates Nine Global Insurance Groups as "Global Systemically Important Insurers"
, August 07, 2013
The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as Global Systemically Important Insurers (G-SIIs), three from the United States-American International Group, Inc.; MetLife, Inc.; and Prudential...

WellPoint Pays HHS $1.7 Million to Settle HIPAA Security Violations
, July 18, 2013
On July 8, 2013, health insurer WellPoint, Inc. entered into a Resolution Agreement with the U.S. Department of Health and Human Services, Office for Civil Rights (HHS), agreeing to pay HHS $1.7 million to resolve an HHS complaint regarding violations of the HIPAA Privacy and Security Rules during...

Recent Developments in New York's Taxation of Unauthorized Life Insurers
, May 06, 2013
Prior to 2012, New York afforded surprisingly favorable tax treatment to life insurance companies that are not licensed to conduct business in New York ("unauthorized life insurers"), but that owned real estate investments in New York. The New York State Department of Taxation and Finance...